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A Simple Product Creation and Product Launching Formula

If you tried to think of people involved in product creation, who would come to mind? You may think of Edison, Franklin, or maybe Henry Ford. Would you ever think of yourself as someone who can create a quality product? Product creation is actually relatively easy and product launching is not that tough either! If you follow a few easy to understand steps, you could be starting the product creation and product launching process sooner than you think.

The first step in creating your information product is to know and understand your market. This can be very time-consuming, especially if you are unsure of what to do or where to look to know your market. Studying your niche market and understanding the buzz words and buying patterns can ease the process dramatically. Personally, I would recommend networking with someone who has had success in the niche market you are considering and learn from their results. If they are into product creation and not very business savvy expect some hesitation. If they only sell products and have nothing to do with product launching or product creation you may your first affiliate (sales person)! Something else you can use to find hot trends is with the Google Trends tool.

The second step is the product creation process. Take your niche market and brainstorm ideas and topics relating to it. There are a lot of product launching contests going on recently relating to a newly created internet marketing tool. There are so many aspects to the mentioned niche that literally, and unfortunately, anything can be considered an Internet Marketing tool. The reason that anyone can basically create an Internet Marketing tool is because of something called Private Label Rights products.

What I use private label rights products for, and highly recommend them in this specific manner, is to cure writer’s block especially when it is lingering. Many people base their entire product creation and product launching on a private label rights product. This is where you can start to shine and build a strong brand for yourself. If you set goals for yourself, short-term goals to be exact, you can see your product creation come into being much faster and there is a good chance with less revision needed. If you keep hitting time restraint road blocks; however there is nothing wrong with a slow and steady approach, you can consider outsourcing portions of your project. Outsourcing can be an extremely huge benefit or just as great of a disaster.

You can find someone to outsource work to at a freelance site such as Guru.com or eLance.com. When reviewing proposals it is almost mandatory you perform a background check on them as you are in essence hiring them. Doing a background check on freelancers is as easy as asking for samples of their work and reviewing feedback on the freelance site from previous customers. Depending on the size and requirements of your project this can add up to a decent sized investment, so caution is very important. One tip I always recommend to people looking to hire an individual is to ask them what they can provide you that no one else can. This simple question gives them a chance to “toot their own horn” and acknowledge where they feel most competent as far as their skill set.

The final portion of the product creation and product launching formula is the launch. This can literally make or break the effort, time, and maybe (if you invested) money you put in to your project. There are numerous aspects to product launching and although their relevance is debated in terms to their effect, experts agree all must be followed. The person in your field who you asked for product advice from can help you substantially if you have kept in touch. If not, the first thing you need to do is to create a visually appealing website with flawless design work.

I also mentioned outsourcing before, this is one aspect of product launching I have little strength in and I always outsource this portion. The website does not have to be large however the content (ad copy in Internet Marketing) must be stellar and as perfect as possible. This is where advertising knowledge or experience is beneficial. When the site is set up you now put a lead capture form on your website.

I put two lead capture pages on all products I create on the internet and is one of the best methods of getting a solid start when you are in the product launching stage. When you gain information from a prospect or someone looking to get paid for referring sales you are able to provide them updates or specials. Many people abuse their prospect or affiliate lists by in turn emailing them with a new product daily and I find the recommendations to be totally unrelated to their original need, problem, or interest.

Another stage in the product launching stage is creating a free report or demo version of your product to entice the product to sign up to your email list. Using proper follow up with this can help generate numerous sales for you. One thing you need to ensure is that your free product completely relates to your main product that you are looking to sell.

You are now ready to advertise your product launching to customers as well as the opportunity to sell for affiliates. This is the single aspect that many product creations and launches fail on. It is actually not entirely difficult. One thing you can do is write articles (and a good amount of them) on topics relating to your product. I am a huge advocate of giving a solution in forums. When you join a forum you are normally offered the opportunity to create a signature. In your signature, you should enter the link to your opt-in or lead capture page. When you respond to posts, you are advertising your opportunity.

It is not impossible to create a product and it does not have to take a long time. You need to setup a plan and stick to it. If you get stuck, look at similar and successful products to your own and try and see how they did it. When you sit down and brainstorm you will be surprised with what you can imagine.

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Home Based Business Surprise! Making Money From Home is Not Being Hurt by the Recession

Home Based Business Trends Defy the Overall EconomyThe news over the course of the last year has been grim. Every day we hear more bad economic news. Industries once believed to be rock solid are begging for bailouts. Unemployment numbers are through the roof. Growth is nonexistent. It’s a sad situation for so many people.However, some home business people have been able to escape the economic downturn. The limiting rules that seem to govern others’ economic situations don’t seem to apply to this particular portion of the population. Who are we talking about? Who’s positioned outside of the economic crisis?”The fortunate group consists of those who are building Internet-based home businesses”.Home based business is escaping many of the ugly economic challenges dominating the headlines. That’s happening for a few reasons.First, unlike other sectors of the marketplace, the Internet is consistently growing by leaps and bounds. The user base continues to grow with each passing day. The technology improves significantly every few months.Connection speeds are accelerating. While other markets shrink, the Internet continues to explode. This gives home based business operators a great deal of reach and a series of opportunities others don’t have.Second, even though overall consumer spending may be down, the amount of online spending is up. It’s bucking the trend.That’s because resistant to the once exotic idea of buying online is disappearing and because so many people are realizing that they can secure better prices by buying from online vendors who have a much lower overhead than their brick and mortar counterparts.When you take a broad look at what’s happening with Internet business and contrast it with what’s been happening to the economy at large, it’s really quite startling.While so many people continue to struggle in the traditional workplace and with jobs in sectors that are feeling a severe pinch, home based businesses are taking advantage of new opportunities and are providing many of their owners with their best years on record.Just “hopping online” isn’t a guarantor of success, however. It’s just a crucial first step. In order to succeed with online business, you will need to develop the right skills and a certain base of knowledge. While no experience or special training is necessary to get started, you will want to secure and follow a proven blueprint for web-based business success.Starting with a detailed, expert plan will enable you to get the ball rolling right from the beginning, saving you a great deal of time and allowing you to avoid many common setbacks. If you’ve been looking for a way out of the economic downturn, look online. It’s the one part of the economy that’s consistently outperforming expectations.The forces making online home businesses so successful are powerful and they won’t be going into decline any time soon.This could be the perfect time to stop fighting with a weak economy and to move on to something bigger and better.

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Property Managers Can Make or Break Your Real Estate Business!

It is extremely important to find a good property manager. Even then you should keep track of everything that is being done with your property. Remember this is a business…your business. If you aren’t careful, you’ll see your investment become a liability.

Although what a property manager charges is important, even more important is what you get. On average we pay 8% a month on collected rents. You may find someone that will charge you only 5%, saving you money, and in return they may destroy your business. To date, we have not found a good property manager that only charges 5%. Saving money isn’t as important as hiring the right property manager that will properly take care of your investment.

Your goal is to:
• Decrease expenses – utilities, repairs, etc.
• Avoid tenant turnover.
• Raise rents to keep up with current market rent rates.

Property managers are not your business partners. They work for you! They can make recommendations but that’s it. Consult them as a resource but you must make the final decisions.

It’s very important that you explain to them how you want things done. Then you must pay close attention to be sure they are doing what you’ve asked.

Every time a property manager says you need to repair something you should ask why. We were told once that the kitchen light was broken. Before sending the handyman to repair it, I asked them to first ask the tenant to check the light bulb. Believe it or not, simply changing the light bulb fixed the problem. You want your property managers to only send repair personal when absolutely necessary.

Anytime a repair is made on your property, be sure to get a copy of the invoice from the property manager. Look at the invoice to verify that your properties address is on it. If you have any questions about the repair, the contact information will be on the invoice allowing you to call the repairman. Unfortunately there are dishonest property managers. They will charge you for things don’t exist so that they can make some extra money. Keep track of everything and verify it all.

The repair people can be your eyes. Be sure the property manager has them pay attention to how the property looks and report back.

You want tenants, but only good tenants. Be sure the management company is only bringing in qualified tenants that will pay the rent and take care of the property. Always approve the tenant yourself. Don’t trust it to someone else. Have the property manager discuss the potential tenant with you. Talk about their credit score, if employment was verified, how much money the tenant makes, the back ground check, etc.

You will get bad tenants, it’s part of the business, but you will lower the number of bad tenants that you get by doing proper due diligence on them before allowing them in your property.

Be Sure That Your Property Manager Is Strict! No excuses should be accepted as to why the tenant hasn’t paid rent. The bottom line is they should pay rent or move out. Otherwise the property manger must evict them immediately.

We own a 4-plex in Arkansas. One tenant was late one month. Then two tenants were late. I was busy at the time so I let it go. Then three tenants were late. At this point, busy or not, I needed to call my property manager to see what was going on. She said, “well they’re all having trouble paying the rent….but they called me to say they’d be late!” I told her I don’t care if they call to say they’re going to be late. If they are late you must start the eviction process. That sounds harsh but over the years we’ve learned we have to be. Tenants will take advantage of you if you let them. I told the property manager to send all four units a letter stating that if they were ever late they would be evicted. No excuses. The next month every unit paid on time and they have ever since.

Most tenants understand that the most important thing is to keep a roof over their heads. However, if you let them make another expense the priority, they will. They’ll pay that expense first and hopefully pay you when they can if there is money left.

The other thing we’ve learned over the years is that by allowing the tenant’s to pay the rent late each month you are actually hurting them. If you let them get behind and pay late one month, then usually it will be harder for them to pay on time the next month. What happens many times is they’ll pay later and later each month and eventually get so far behind that they can’t catch up. At that point you have no choice but to evict them, and in my opinion it’s your fault because you set them up to fail. The rule of thumb is they must pay the rent on time, or at least by the 3-5 day grace period. If not, then your property manager needs to understand that they must start the eviction process. When tenants see that you are serious, they’ll usually pay on time.

Be sure that your property managers understand that they are not ever to give the tenant your name or contact information. Make this very clear!

We like to always add fire extinguishers in each home or unit we own. Just be sure that you know how long the extinguishers should last and replace them as needed. There may be legal ramifications in your state when adding fire extinguishers so be sure to discuss this with an attorney that practices real estate law in the state the property is located. You should also run this buy your insurance carrier.

Most tenants will forget about changing the smoke detector batteries and replacing heating and AC filters so it’s a good idea for you and the property manager to keep track and have them regularly changed. Whoever replaces everything should also inspect the property while they are there to verify that the tenants are taking good care of your property.

It can be very helpful for you to use a property manager to manage your properties, however, you must oversee them. Don’t make the mistake of not paying attention to what is happening to your investment.