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Eight Secrets of $100,000+ Home Businesses

3 Excerpts from the book that will show you 49 ways
to improve your strategic planning, marketing,
operations, client service, finances and more...

How to Develop Multiple Streams of $100,000+ Home Business Income

The one sure way to recession-proof your home business is to think "multiple," as in multiple streams of income. You need more than one product/service to sell, and you need more than one source of new clients.

Devising multiple streams of income should be a regular part of your strategic planning. I recommend you think hard about it at least every quarter.

Example: if your main source of business is the Yellow Pages, what happens if your phone goes dead tomorrow? Then what? Don't laugh. It's happened to others. It's happened to me. And it WILL happen to you.

Try to set up at least two other sources of new customers to supplement your main one. Ideas:

run low-cost classified ads in the newspaper; give a seminar once a month and watch the new business roll in; pay for Web site traffic from GoTo.com; start REALLY cultivating referrals from your existing client base, telling them that you really enjoy working with them and would they know of two friends you might call with free information? The list goes on.

The fact that you recognize the need for multiple streams of income will set you apart from the 95% of other home business owners who don't.

In addition to setting up multiple sources of clients, you should think about having multiple products or services, to offset any downturn in sales of one or the other.

In my business, for example, I write and sell resumes. I quickly added cover letters to the product mix, followed by Web page resumes and matching stationery envelopes. I tried interview coaching and hated it ... so I set up a revenue-sharing alliance with a job interview coach in Toronto. I used to write curriculum vitae (CVs) for doctors and college professors, but hated that, too. So -- you guessed it -- I set up a revenue-sharing agreement with another writer.

And on and on.

Here's an often-overlooked place where you can look to find new product ideas -- the space between your ears. Almost everybody has at least one book in their head, just waiting to be written. And you don't have to be a "best-writing" author to be a "best-selling" author, as Robert Kiyosaki, author of Rich Dad, Poor Dad, points out.

When David Garfinkel, president of Overnight Marketing, launched his Killer Copy Tactics in April of 2000, he netted about $10,000 for his efforts, which was really just redistributing existing content for sale and use on the Web.

What do you have in your home business that you could sell in book form, or audio form, or via newsletter or seminar? The only limits are those you set yourself.

Here's another example of how to create a new source of income by redeploying something you've already done.

In my resume writing business, I won't write a cover letter for clients unless they first order resume editing or writing, which starts at $129. But I got sick of turning away people every day who only wanted me to write a cover letter. So I sat down and collected the 21 best cover letter examples I could find, packaged them as an ebook and started selling them from my Web site. This new revenue stream has put more than $10,000 of passive income in my pocket, and many readers of this $9.95 ebook later hired me for more-expensive writing projects.

It's no secret that almost all $100,000+ home business owners are either accomplished speakers, writers, or both! So plan to start sharing your expertise with the world in other ways, to create new streams of income and position yourself as the expert everyone wants to hire.

Kevin Donlin
Author, Home Business Owner
===

Excerpted from 8 Secrets of $100,000+ Home Businesses, a what-to-do guide with 49 business-building secrets in 8 categories ... backed by a "700 times" guarantee. To learn more, click here.

~~~~~~~~~~~~~~~~~~~~~


Do This and They'll Never Complain About Price

If you're like most home business owners, you're not charging enough for your product or service. This is almost axiomatic -- home business owners think they can compete with the bigger, more-established companies simply by charging less.

This is a costly mistake. Don't make it!

Instead of comparing apples to apples, or oranges to oranges, you should creates unique packages of products/services that defy comparison. This keeps customers from complaining about price. Think of the Mona Lisa -- who would complain about any price for that one-of-a-kind item?

You can create your own profitable, Mona Lisa-type combinations for customers. This mindset was literally worth $1 million to Louis Jay and his business, Health4Her.com.

The light bulb went on for Louis when asked himself: "Why would somebody want to buy echinacea or vitamin C from us when they could get it cheaper at the local store?"

"Everything we sell is a system, not a product," says Louis. "That way you can't get price shocked. For example, if you wanted to buy a weight loss product from us, we're not going to sell you a bottle of pills. We're going to sell you a bottle of pills, plus free educational material, lifestyle changes to lose weight and also a free bottle of vitamin C, all shrink wrapped and packaged together as a system."

"Infomercials do this wonderfully," says Louis. "You know, buy this and you get this and you get this for free and it's a system. You just can't price shop it because there are so many things involved and there's a perception of high value with the systems they sell."

What systems can you sell to your customers? Start experimenting with profitable combinations that deliver a high perceived value. You'll never have to worry about price comparisons again!
Kevin Donlin
Author, Home Business Owner
===

Excerpted from 8 Secrets of $100,000+ Home Businesses, a what-to-do guide w ith 49 business-building secrets in 8 categories ... backed by a "700 times" guarantee. To learn more, click here

~~~~~~~~~~~~~~~~~~~~~


Two $100,000+ Home Business Success Tips

Here are two proven ways to make more money in your home business, by working smarter instead of harder.

They're based on interviews with six wealthy small business owners -- each of whom started from home -- that will show you how to make at least $100,000 in your home-based business!

Kill your telephone
Here's a little trick that not one in 20 home business owners knows. But it can free up hours of extra time for you every workweek.

Starting tomorrow, turn off the ringer on your phone -- don't answer it. Try this for a day or two and see if it doesn't make you more productive.

I started not answering my phone two years ago. You can't call me directly unless I'm expecting you. Instead of a telephone ringing every 15 minutes with another interruption, I listen to classical music on the radio or birds in the yard as I write.

Do I ignore my clients and prospects completely? No! My answering machine has an upbeat message from me, telling people that I'll return their call within 90 minutes, which I do, like clockwork.

This eliminates telemarketers and other time wasters, who don't leave messages. Doing this saves 30-60 minutes every day in interruptions while I focus on more important things.

Try it yourself and see.

Batch tasks like cookies
Returning your phone messages in one batch every 90 minutes is just one way to increase productivity. Examine every process in your business the same way, with an eye toward grouping similar tasks. You can uncover some incredible time savings.

Look at how a baker works. He doesn't make 12 cookies, then 10 loaves of bread, than 24 cookies, than 20 loaves of bread ... he bakes a batch of similar items all at once, then moves onto the next one.

"The batching analogy works really well, whether it's doing e-mail, writing checks, printing envelopes or doing clerical things," says Internet marketing expert Dan Janal. "I worked with an efficiency expert, who came into my office one day and did a couple things that were so monumentally successful I have to share them with you."

"First, I had all my bills in one big folder and I'd go through them several times a week deciding which ones to pay," says Janal. "She threw that one out and created two folders. One said '1-15' and the other said '16-31.' As I got bills, I put them into each folder depending on when they are due. So on the first of the month, I pay bills in the '1-15' folder and don't worry about bills again for two weeks. And that one stupid, simple thing saved me countless hours, because now I write and mail checks twice a month instead of seven times."

"Another folder she had me create was labeled 'Waiting for response,'" says Janal. "Let's say I sent a letter to someone and I'm waiting for a response -- a refund, a change of address, or something like that. It goes into that folder and sits there until I get a response. Then I clip them together and file them, or throw them out or whatever. Up until that time, those letters sat on my desk and became an unmanageable mess."

Try these two tips today to gain more time and make more money in your home business -- instantly.

Kevin Donlin
Author, Home Business Owner
===

Excerpted from 8 Secrets of $100,000+ Home Businesses, a what-to-do guide with 49 business-building secrets in 8 categories ... backed by a "700 times" guarantee. To learn more, click here

Copyright Kevin Donlin - All rights reserved



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