How To Evaluate A Home Business Opportunity
How does someone know if a home business opportunity is worth the effort? As a home business owner myself, and as some who is asked by clients to help them decide on a home business, I thought it was time to put some of the basics down in writing.
Although some of my 25 years of marketing and advertising experience is bound to creep in, I have tried to keep this a simple as a I can and focused on home businesses:
1) Is is real?
I consider this the most important question. Thanks to the web, people are frequently being offered opportunities that do not really exist. Yes, they exist on a web page just like an advertisement in a magazine exists. But is there really a company? Products? A legal entity? Real customers? Real software that works? A real office: in a home or a business with a telephone and people who work there?
Before “buying in” to the business opportunity, send an email and ask for references and testimonials with names of people you can contact. If you don’t hear back or don’t like what you hear, move on.
2) Is there a need?
You will no doubt require customers. Do they really need your product or is their interest solely based on the fact that you are their cousin or best friend? Would they want this product from anyone other than you? Is it possible that you are so in love with your idea that you do not see its real market potential, either positive or negative? Do some low-cost market research. Create high/medium/low sales estimates.
3) Can the customer buy?
Wanting something and being able to afford it are two different things. Can the people who want your product really afford it? Another angle on this is whether customers are “willing to spend” money for your product or service? They might have the actual cash to buy, but if they don’t see the value you in it, you’ll never see the cash.
4) Will the customer buy?
OK, I want your product, I can afford it, but will I buy it? Maybe there are risks or discomforts that are holding me back. Maybe I think I can get a better deal. Maybe a better product is coming out soon? You need to explore these reasons or no sale!
5) Can you win?
Can you sustain your business over the long term? Is the product competitive? On promotions? On pricing? Is the timing right? Is your company competitive? In production? In your sales and distribution? In management?
6) Is it worth it?
There are as many reasons for starting a home business as there are people starting them. So let us take a first look at this questions from the perspective of your lifestyle. Will this opportunity offer you the chance to live your dream life? That is an important question. Aside from money, what are the other benefits your new business will offer you?
7) Is the return adequate?
Simple math. Are you getting back in income the level you need to a) support the business, b) pay your bills, c) have something leftover to use for your other goals?
Does it satisfy other needs?
These needs are often very unique to your situation: an obsession about running your own show, putting your daughter through college, getting an operation that you needed, taking care of a sick relative.
To summarize, the three main questions are:
1) Is it real 2) Can you win? 3) Is it worth it?
Sure we can do more qualitative analytical stuff with business and market numbers, but these questions are the basics. Especially with #1, do not take shortcuts. If something looks like a rock, turn it over! You might be pleasantly surprised.
Your last “to-do” is to help another small business owner when you can It is a big world and a land of plenty. Do not be afraid to help. What goes around, comes around, and there is enough to go around for everyone.
The Ten Best Free Press Release Services
Internet businesses, consultants, coaches, service businesses — all have a nearly insatiable need to market their services. “Keeping the pipeline full” is a constant source of worry and an on-going battle.
Most businesses wisely use an integrated marketing approach: networking, directory advertising, local and Internet advertising, and participation in various online social networks. One marketing tool that is often under-utilized or applied ineffectively is publicity, either generated by news releases or feature stories.
Although ”getting ink” in the local newspaper and business magazine is a terrific lead generator, many other publicity channels are frequently overlooked. Blogs, web sites, RSS feeds, and online news outlets are all hungry for new information. And one of the best methods of delivering news to these channels is through online news distribution services.
We’ve put together a list of the ten best free press release services. All of these sites are suitable for businesses trying to market their services. In fact, there is no reason why you could not use several of them to extend their reach. Most offer additional, fee-based products in addition to their free services.
Of course, to distribute a press release for free means you need to write a press release, or have one written for you. At the end of this article, we provide links to three short, but helpful articles about writing press releases.
If you are looking for professional assistance, Frank Marafiote offers press release writing and other marketing services through his company, Emerge Communications. Frank has been writing news releases since 1976 and promises a professional job.
Here’s our list of the Ten Best Free Press Release Services –
#1 Free Press Release.com
Free-Press-Release.com has been the No. 1 in the free press release distribution service area since 2003. Customers can submit an unlimited number of release, up to 3,000 words in length.
#2 Prlog.org
Some of the features of this service include: HTML links in the press release body, search engine optimized dedicated web page & PDF version, multiple categories & keywords, spam protection on your email address, the ability to edit/delete press releases, press release scheduling. Press release distribution includes Google News, numerous search engines, numerous javascript, html & RSS feeds.
#3 1888pressrelease.com
Customers can distribute releases to search engines, news-wires and websites to help increase awareness of their product, company, or self. Services aim to help customers reach journalists and improve visibility in search engine listings, a concept known as search engine optimization, so customers can get the most publicity possible.
The service allows customers to attach files, logos or images to their press release so they’re ready for journalists and others who need the information for publication. A customer’s website can also be displayed within the press release to make it easy to lead readers directly to the site.
#4 I-Newswire.com
Customers may only submit one release per week per website per company. Customers found abusing the free submission can be banned from using the service. They do not allow the placement of html in the releases; however, customers may use complete URL’s in their releases.
#5 PR.com
PR.com is a directory of businesses, products and services, a press release distribution service, job search website, and online publication of articles, reviews and celebrity interviews. Customers can submit news and press releases via their global online news and press release distribution service with distribution points such as AskJeeves News, Excite News, Topix.net, MSN News.
#6 Free-Press-Release-Center
This is an online news and press release distribution service for small and medium-sized businesses and corporate communications.
The service allows keyword linking. With each press release customers can choose a keyword and a URL which will appear as a link (using the keyword as the anchor text) in their press release.
#7 24-7 Press Release
Through their strategic partnership with PR Newswire, this service’s Mass Media Distribution distribution package offers broad exposure for customers. The PR Newswire network allows press releases to be accessed by nearly 80,000 journalists and distribution to approximately 4000+ web sites including Yahoo News, Google News, CBS Marketwatch, MSNBC, ABC News, CNN.com, and AOL.
In addition to their free press release service, they also offer submission approvals within 48 hours, the ability to schedule your release for a future date, over 400 industry channels, distribution to opt-in journalists, freelance writers and RSS/Javascript subscribers, and press releases stored in database for possible future story seekers.
#8 Free-Press-Releases
This service says its press releases end up on Google News and thousands of niche sites across the Internet. Many websites with focused subject areas take content from its categories relevant to their readers and display as news on their own sites. Freepressreleases is also indexed by many global news mining organisations that hunt for specific information. Freepressreleases also offers each category as a specific RSS feed.
#9 PressAbout.com
PressAbout.com is a free press release distribution service in the form of a blog. This allows customers to distribute press releases to search engines, news-wires and websites to help increase awareness company or personal products and services for free. The service aims to help customers reach the public directly and improve visibility in search engine listings. All press releases will be read to ensure the quality of the site is maintained.
#10 PressMethod
PressMethod is an international free press release distribution company. Their mission is to help the Internet community access interesting stories happening in the business world.
Want to write your own release but need some pointers? Check out these brief articles –
Just for Bloggers: I Think, Therefore I Blog.
We decided to take a break from our marketing consulting work today and have some fun. TGIF!
Here’s a new design we created just for bloggers — a stylish, Rodin-inspired t-shirt with a rendition of The Thinker and “I Think, Therefore I Blog” right there up front where everyone can see what you do.
The concept just swooped down on us while we were out walking a few days ago. Along with a huge selection of different t-shirt designs, there are also sweatshirts, hoodies, tote bags and, of course, a mousepad. As soon as we have some time, we plan on adding a few other items.
Got ideas or comments, please leave them here or drop us a line at support@marketingtaxi.com.
Let the world know who you are!
