How To See The Big Picture With Your Residual Income Business Opportunity Starting up any sort of new business can be a stressful time involving a steep learning curve and probably a lot of bad moves. However, this whole process can be a lot easier for you if you are able to see from the very beginning how you are going to make your residual income business opportunity ideas work and the techniques which will be needed to give you the success you are looking for. This is as true for an online business as it is for an offline business such as a large restaurant or a small hardware store. Don’t risk starting a business which isn’t going to give you the results you need. Seeing the big picture and making sure that you start on the right foot and keep the good work going after that needn’t be as difficult as you might think.
Starting Out Right In Your Residual Income Business Opportunity The first issue which you will come across is that of working out who you want to sell to. You might want to make a customer of every single person on the planet but that isn’t going to be possible, so you will need to work out who might want to pay for your product and why. Is there a problem which these people have that you could solve for them, or can you help them somehow achieve their aspirations? Getting inside the head of your potential clients can be done by, for example, joining forums on the subject and finding out what other companies are doing wrong and what solutions real people want but currently can’t find. Next up you need to work out what your unique selling point is. This is the one thing which will make a customer buy from you instead of someone else. Here are a few examples of the kind of approach you could choose to make your residual income business opportunity stand out from the crowd. 1. Sell the cheapest product of its type. 2. Give the best customer service guaranteed. 3. Achieve an authentic old world feel with your advertising and site, even if the product isn’t that old. 4. Create a snappy catchphrase that encapsulates your idea. 5. Target a specific market that is often overlooked and tailor everything to them. 6. Go for the luxury market and make your product a statement about the buyer’s wealth. 7. Find a way of describing the benefits which your rivals haven’t used yet. 8. Find an over the top, hyperbolic way of explaining the product which amuses and intrigues at the same time. 9. Give a money back guarantee which is better than anything else on the market. 10. Give something free with every purchase. Of course, before you go ahead you will want to investigate the market and see what you are going to be competing against. This isn’t because of fear of the competition but just due to simple good business sense. If the market is hugely crowded or you are up against some real big hitters then the smart thing might be to take a step back and look for a less competitive field in which to apply your ideas.
More things to consider if your residual income business opportunity is going to get off to a solid start: Think about the sustainability of your project, and this is something which has to be fully thought out before you even start your business. Firstly, it has be an idea which can be developed into a money making scheme. Some ideas look great on paper but just don’t have the substance needed when it
comes to putting them into action. This is where you need to be honest with yourself and genuinely consider whether your proposition has got the necessary weight to go all the way into being a real, money making venture. This points links into the next one, which is that the market needs to be big enough for you to keep pulling in new customers. If you are looking to sell something which is only useful to one-legged, left handed Rastafarians who like modern jazz then you are going to struggle after a while, while a reasonably big market with great money making potential will give you confidence that you can keep expanding. The final point to cover is looking at your ongoing motivation because you will have to talk about your idea for a long time. If you are selling a product which really excites you this is a good start, but what will you have to write about in 2 years time on your blog or 5 years time on a forum? If you can already see how you can link the product into a lot of different themes then that is great. These points listed are not all of the challenges and issues you will face with your business, but they are probably the most important ones, and you shouldnâ€™t even think about starting until you have a clear way forward on all of them. Starting an online business is a serious move and one which deserves a lot of thought and forward planning. Thinking ahead and planning well will give you a great chance of building the business and life you want to have. Find out more about making a success of an online residual income business opportunity.
Published on Feb 10, 2011
Starting up any sort of new business can be a stressful time involving a steep learning curve and probably a lot of bad moves. However, this...