Create Your Own Product
The second business model we have used to make money from our Home Based Web Business is creating our own products.
For us, this is always step 2 for a home based business. Step one would be following the Challenge Strategy to test a market.
You see, when I started this internet marketing thing I already had a product that I thought would sell really well. So I bought BeBiz and started trying to market the thing! Only to find out that it is not that hot of a market. By Hot Market I mean people are not going to Google with their credit cards already out to be able to buy something to solve their problem.
So I spend months and months developing my product and a couple years now trying to figure out how to market the thing.
To avoid these months and months of hard work without that much payout I would have:
- first found a Micro Niche
- built a site around that micro niche that promoted some sort of affiliate product
- Used Our Home Business Advertising System to Drive Traffic to that Site
- tracked the ratio of visitors to buyers
- If I have a .5% ratio or 1 person bought from 200 visitors I will move on to creating a product. If I have had 200 visitors and no one has bought I will change my call to action on the page to see if I can get a .5% conversion
Once I have found a buying market, or people who are actually ready to buy something in that market from my website, I will then move on to creating a product.
The nice thing about creating & selling your own product is you get to keep 100% of the profit unless of course you partner with Joint Venture partners or affiliates to promote your product. Then you have to pay them a percentage but it is much nicer to have 5,10, 15 or more people promoting your product for you! You will make a whole lot more sales that way!