Components of a Home Business Model

It is essential if you are starting a new, home-based
business that you plan every possible thing that could
happen.

Not only does this help you reach a goal for the
future, it also helps if you are trying to get
financing for your home-based business.

This important information is what makes up a home
business model. And there are four basic components of
each stage of building a business.

A great business model can only be composed after the
components of each stage have been identified.

The components of a home business model include the
infrastructure. The core capabilities are capabilities
and competencies necessary to execute a company’s
business model.

The partner network is the business alliances with
complement other aspects of the business model and the
value configuration, which is the rationale that makes
a business mutually beneficial for a business as well
as its customers.

The offering of a home business model is the value
proposition. These are the products and services a
business offers.

In short, it is what the customer gets for what the
customer pays.

A customer can evaluate a company’s value on two broad
dimensions with multiple subsets.

The vendors marketing and sales efforts offer a
customer value proposition.

Next come the customers. You need to know who your
target customers are, the target audience for your
business products and services.

The distribution channel is the means, which a company
delivers its goods and services to a customer.

This could be through a simple means as the postal
service or a major trucking company driving your
products across country.

Customer relationship is key in a business model.

A Bold Big Step

Quote of the Day:

In life, the first thing you must do is decide what you really want. Weigh the costs and the results. Are the results worthy of the costs? Then make up your mind completely and go after your goal with all your might.

Alfred A. Montapert

Today I will expand a bit on making extra money with the assumption that some folks would not mind making money via some sort market based system. One such system is:

Affiliate Marketing

One of the easiest ways to earn home-based extra income is through what is commonly called affiliate marketing. With these programs you can choose the product you wish to be associated with and to sell. Normally these companies provide you with a free website, called a gateway website. These sites give you a no cost promotion tool to generate prospective customer. Once directed to these to these sites customers can find out about and hopefully buy your product. These affiliate companies’ do the heavy lifting, they take care of processing the orders, handling payments and any customer problems that might come up. You simply promote your site and the rest is done for you. One special note, when choosing a company to partner up with make sure you are getting commissions from 35% to 75%. Normally there are different tiers of commissions. The rule is, the more you sell the more you make. When the checks come in you have the hard job of cashing them.


As an aside, don’t worry just yet if you don’t have your own website. That will be a future step and for those interested I can help you out by covering the topic in a future issue or you can contact me.


For a technical explanation of affiliate marketing check this link:
http://en.wikipedia.org/wiki/Affiliate_marketing

• Some things you want to check out.


• We are all about saving and making money, so make sure that you can participate in your chosen program for free or a very low price for as long as you want.


• There should be no long-term agreement that traps you in something you might find out is not for you.


• Are you provided with a personalized website for FREE. There should never be a fee for a company gateway webpage.


• Is there a mentoring system or at least a responsive Q&A system?


• Make sure the company handles shipping, at least to your location. The company should handle customer service, returns, and other problems. (Some organizations have you take care of payments; while others do not, this is up to you. Both are legit)


• Is marketing local, regional or international. This choice will impact later decisions about advertising and promotion.


• Does the company have a good reputation and a physical location if you are dealing with tangible goods? There are forums, websites, and the BBB you can check with. Just remember when running into complaints. Read them knowing that some legit companies get their share of complaints simply because some people are not willing to put in the work. Some folks are just looking for the pot of gold at the end of the rainbow.


• Is there training?


• Is your future income tied to residual or onetime sales? This is a fundamental concern. It will be up to you to make this call. There are pros and cons on both sides. One-time commissions tend to be higher while residual lower but are repeated over time if the customer is retained.


• Is it simple for you to do? I am not saying easy; get over it, nothing is easy. But if it is understandable by you and you can see yourself trying it, I say go for it.


• Do they pay regularly? Once established as an active member you should be getting paid at least once a month. Many pay weekly once you reach a certain point in an organization. As long as the checks cash it’s all good in my book.

In conclusion, affiliate programs; sometimes called MLM for multilevel marketing is the easiest and most affordable way to start your own business. We will be discussing this and other endeavors as we go along in this blog. Blog at ya next time

MoonLighting

One of the things we can do with this extra money we are making is to set ourselves up to make more. Many Americans rank as a top desire: having a business of ones own. The economy lately is giving no guarantees of security so why not have a back up plan. Now I am not suggesting giving up your ‘day job’. On the contrary, as with most of our ideas so far they have been of the slow and steady variety. You always want to be able to keep the paychecks coming to pay those nagging day-to-day expenses. What I am suggesting is a sideline business, ‘Moonlighting’ as it is often referred to. Who knows, maybe one day when you have a nice steady flow of extra income it can become a primary income. But for the time being lets think sideline.

As I explored in the last issue, it helps to know what you want out of life, or at least what you think you might want. I must caution against waiting for all things to be perfect before you decide to pursue a sideline. If you put off till that elusive spare time shows up this might never happen. What you need before hand is a plan, and you have to get a bit specific about it. I can almost assure you that ‘No Timetable’ = ‘No Start’. It just won’t happen. One does not have to get all Harvard Business School about this so don’t let it scare you. We will create a reasonable plan, a ’to do list’, with steps to tackle with due dates for each. Most people can simply consider their TV watching schedule and replace (at least partially) some watching time to start getting things done. Then work on them one at a time. You can always get up a bit earlier on your weekends or stay up late a bit more. It depends on if you are a morning person or night owl. If you have long commutes you might use this time to listen to educational material or dictate your plans and ideas into a recorder. (As long as you don’t get absent minded about your driving)These will be some of the tools you need to find to get started. So think on it, where can you honestly secret some time away for making your life better? This is actually always the first step and when skipped allows others things to take over any hope of making a start on a business of your own.

One of the best fits for a sideline business is the home-based service business like the virtual assistant we discussed in earlier issues. Ecommerce and affiliate businesses are also a great fit. Making your own products could also be your course. We will get into some of this next issue.

One of the great myths about starting your own business is that you are not smart enough to run you own business. This is just self-doubt, it is destructive and not worth it. If you are a person of normal intelligence with the will to just try, you can run a business. Having said that it is true being your own boss is not for everyone. I do feel that there is no super intelligence litmus test you have to pass to be successful with your own business. In the end it is all about sharing a part of your self with others and anyone can do that.

Over the next few weeks we will be discussing some no and low cost start up business idea that work. We will be looking for the type of business that will bring in steady and repeat sales. We will avoid the scams by using good judgment and research. So start thinking about it right now. Give yourself permission to think you can be something bigger than you are now. I think this is going to be fun. Some hard work, but fun.

What do you want?

What do you want?
Is it just more money or is it freedom from the 9 to 5 job.
Have you actually thought it out?

Do you know what you will do when you get what you want?

These are question that always need attention. When you don’t actively try to get these thoughts clear, what you’re left with is simply wishful thinking. Now don’t get me wrong a good daydream now and then will keep you young and cheerful. But wanting something but not really knowing what that something is, is what marketers count on. Most ads on the Internet sell dreams. These programs will tell you how the author, starting from nothing ends up a millionaire and how they want nothing more than to share all their secrets with you. Isn’t that sweet of them? I’ve read all sorts of business ads and books; I’ve checked out programs and listen to telephone conferences till my ears rang, its kind of my hobby now. As a matter of fact, the other day a very nice lady (well respected in the Internet guru circles) was spotlighted on one such phone conference. She entertained with stories of being dead broke then becoming a millionaire in one year. She learned a few rules, fewer than the number of fingers on two hands. These magical rules changed her life. As she tells it, she will teach these secrets to you, hold your hand , so to speak, give you web pages ,CD courses and coaching sessions. All these to help ‘Average Joe’s’ like you and me become millionaires. She is not lying or perpetrating a fraud. She assures you all of this is worth $7000 or more. But for you lucky few; you chosen ones, a mere $900 will get you on your way to everything you want. Getting what you want, that’s worth some money isn’t it? How much money?
So we come back to that question of what we want. There are a ton of these programs out there all making quite similar claims. They are just slightly different (good capitalists must always differentiate products) to make themselves seem special. Some offers went for $395, one for $195, quite a few at $98, $74, $59 and so on. I actually belong to a few organizations but they are under $30 as a monthly fee. (By the way they all end up having monthly fees.) You see I want to take in more than I pay out, so I want to get the biggest bang for my buck. What do you want? Do you know how to get it? By now I am sounding like a broken record but my point is no amount of money you ever put out will make any difference if you don’t know what you want. Tighten it up. Yeah, we all want to be rich, but how rich. What are you will to give up, put up, and shut up about to get rich. What is rich to you? How hard do you want to work for it? Do you want to go to collage to major in Business? Could you be a successful affiliate in some program you like? Do you want to be your own boss? Do you want to have your hand held for $900 like in the above-mentioned program? Maybe you will only put in the time and effort to succeed if you stand to lose all that money. Me, I'm putting that money back into my own business and keep growing it till I have those things I want. And believe me I've thought about what I want. How about you?

Now for something totally different. Be Happy!

What’s up with this happiness thing?
With all the pressure of trying to find extra ways to make a little extra cash, it is easy to lose focus on the important stuff like trying to be happy. Not expecting being happy is simply not good. A simple smile, or the joy of working toward a personal goal; taking time for yourself, believe it or not happiness actually will help you become a healthier person. Because what good is having money if your miserable? (Oh I know some smart a*s out there has got some cute reply but forget it.) Happy is important.
When you're adding to your to-do list, don't forget the good stuff. Is reading in bed your thing, going out to breakfast, taking long walks, listening to music, or just sitting quietly outside? Make sure some of your favorite diversions happen every day.
May I suggest you could try some of these tactics:
1. Chuck the chores. I’m not saying you should let the Health Department close your home down, but if you can’t take a few minutes for yourself, ditch the chores. Do you really have to color code your sock draw. Take a walk, look at the sun or moon, smile. The world is a remarkable place. Don’t ever lose the wonder.
2.Streach and Flex. Add to your strength, self-esteem and independence, work out at least a little. We all have low-energy days, but sticking with an exercise plan will help you feel good about yourself, and also strengthen your immune system and enhance your body's production of mood-boosting hormones.
3. Drop the stress. To stress or not to stress, that is the question. Lets face it, stress saps the joy out of life. It might be hard to accept that many times we actually choose to stress, we don’t let go of what we can not change. I understand problems are hard to shut out, and those same problems must be dealt with. There is truth in the old stand by of ’take a deep breath’ It actually allows more oxygen to get into your blood stream, resulting in a greater feeling of calm. Try it when you’re stressed and you know there is nothing you can do about it at that particular moment. Don’t take on more troubles than you have to.
4. Share what you know and what you can. Celebrate and share your skills; look through the local newspaper or phone book, is there any school, club, or organization with whom you'd like to volunteer or participate. Not only will sharing your unique talents and expertise benefit others, but it has also been known to make you feel good about yourself. That’s a good thing.
5. Appreciate the people around you. Let your hair down, share a few laughs with family or friends once or twice a month. The un-guarded feelings and trust shared with these important people can help give you the perspective you need to cope with everyday challenges. Share a good laugh; laughing lowers blood pressure and releases endorphins that can ease pain. I read that in a science magazine. Laughing is just fun. Friends not around; watch a comedy special on TV, its good for you, have some fun.
Make the most of you life; it’s the only one you at the moment.
We will get back to the other stuff soon enough.

Bail Out and Numbers

Unless you have been living under a rock with earmuff on you could not help but notice that the economy of the U.S. and the world is on some shaky ground. There is enough blame to go around. Politicians, Wall Street Mega Investors, asleep at the wheel Regulators, a certain President, unscrupulous lenders and so many others. We the people can take some blame as well. Living beyond ones means is the prevalent lifestyle of many American these days. But no matter who is to blame and no matter how it all turns out, I am sure of one thing. We as individuals have a singular responsibility for forging our future financial success; conversely our failures are upon us as well. Looking towards others or circumstances to blame is all too easy. Each of us must summon up the courage and strength to take the actions that will build our better tomorrow. What ever it is we lack to make the journey easier and faster is just a bump in the road. Go over it, around it, if need be under it, just don’t let that bump be your stopping point.

These days, the Internet provides a far-reaching array of “Get Paid To” programs. We have previewed some of them in our earlier issues. We will continue to flush them out to see how they can be used more effectively through out our time here. We will look at the winners and try to steer you from the losers and rip offs.

In these challenging times it is more important than ever to learn the ways to protect and enhance your finances as well as the quality of your life. For our part we will continue to strive to make making extra money our priority. From our first issue we have used Homepages Friends get paid to search, under the stewardship of Dan the tenor man as our mooring point. Remember, as we build this team , your simplest first step is to simply surf the web to make pay per search money. If you work the system, Dan works to build you a downline. Any questions just drop him a note at tenorman8@yahoo.com with Homepages Friends Blog in the subject line.

In search of extra money, you want to keep adding things to your arsenal such as surveys and the various GPT sites we have discussed. New opportunities will build upon these first steps.

A friend and mentor of mine pointed out that many of the old ways of doing things just aren't working anymore. Be it Wall Street or Main Street, we are looking for a better way. It is our contention that with a mixture of team-work (this team we wish to gather) and personal responsibility (only you can do the actual work) we can succeed as both a group and as individuals. A colleague of mine was talking about the simple rules of success and reminded me of another story.

You may have heard of Bill Britt, one of the most successful distributors in Amway’s history. Some years ago, 20/20 did a feature story on Amway. They spent a lot of time interviewing several distributors who had failed and showed the garages full of products they couldn't sell. They whined and complained about all the money they spent yet they were not getting rich.
During the last minute of the show, Mr. Britt was interviewed in front of his multi million dollar home.
He was asked, "Mr. Britt, this business has obviously worked for you. “What's your secret?"
He replied, "There is no secret. I simply showed the plan to 1200 people. 900 said, 'No.' and only 300 signed up. Out of those 300, only 85 did anything at all. Out of those 85 only 35 were serious, and out of those 35, 11 made me a millionaire.

Like so many success stories be it in business or not, it is built upon numbers. Be it the number of searches you do, surveys you take, hours you work, ads you place, it is all about the numbers. Persistence does pay off and with it you will succeed., we want to help.
Let’s work on our own ‘bail out plan’, one that works for us for a change.

Virtual Assistant Part II

Hope you all had a great weekend. Did you watch the 60th Anniversary Emmy Award Show? I missed it. I am told it was one of the most boring in memory; which helps. What does the term “Emmy” stand for anyways? Well I am glad you asked (well you might have if you were here with me). The name “Emmy” is a female version of “immy”, a nickname used for the image orthicon tubes used in early television cameras.

VA part II
Success with the homepages friends websearches, surveys or GPT all take a wee bit of persistence. For the amount of time it takes to do 20+ searches a day is minimal. Going through the surveys sent to you and finishing them is a drop in the bucket and the GPT games, offers and read email sites fly by. You just have to sit down and make it kind of a ritual. It is good to have a hobby mindset so that it does not become too much like work. You can do it while watching TV or at a time of day you want to relax. If you are the type that always has a computer nearby you can do it throughout the day. Many times I hear an odd name or interesting person mentioned on TV or the radio and I check it out on homepages friends search engine. It is all about working the system; it is the only way the system works out. (It you are not a member of our intrepid group yet; get to it. Email Dan at http://www.blogger.com/tenorman8@ymail.com%20). We want to make this thing work for everyone. We hope to expand and grow our group to the benefit of all. Most of all we are always open to suggestions.

Last issue we introduced the concept of being a Virtual Assistant to add to possible resources of extra money. It would require a more serious commitment of time. The possibility of greater earning potential is also there. If you already have some basic office supplies, phone, computer, printer, and possibly a fax machine you could be in business in no time. To review, "A Virtual Assistant or VA is an independent contractor/freelancer and entrepreneur who assists in taking care of the administrative and technical side of someone else’s business or life. They assist with clients business on a contractual basis from a remote location. While most VAs performs administrative tasks they can be more than just a home-based secretary. Depending on the qualifications you bring to the job, the skys the limit.

Being a VA is a reasonable way to make extra money while still staying at home. It allows you to pursue even more extra money by being able to keep up with your other streams of income without the time constraints of a regular 9to5. Here is a link to start some research

http://www.vanetworking.com/what-is-a-va.htm
The plan to have multiple streams of income is a basic tenet of business. Even big business practices it. So here is to making it. We all can do it. Never give up.