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Hub You - How To Evaluate A Product Opportunity
Seven Secrets to Getting the Perfect Employee ers, not yours. Pricing doesn't always make or break an
opportunity, however, if it’s the only opportunity it can
cost the company existence.Attracting and retaining a high performing team is one of the biggest challenges many business owners face. There are a variety of reasons for this and one of the key factors is that the owner doesn't realise that there's much more involved in the process than just placing an ad and asking a few questions.Business Coach, David Guest from Action International wrote this valuable article which will help you in your quest for hiring the right people."These days too many business owners are throwing their advertising dollar down the toilet using out-dated recruitment methods and using boring old ads. And, then they wonder why they're getting the wrong response!1. Do you have a clearly defined job description for the role?One of the biggest mistakes business owners can make when looking for new staff, whether it's for the expansion of the business or because someone needs to be replaced, is that they don't actually have a clear and concise outline of what they want the employee to do and exactly how they e 6. Is this a one-time sales product? Finding a product that generates revenue without any expenses is hard to find and needs top consideration. One- time sale products require more marketing and cost per sale is higher. For instance, a membership access fee to all available ebooks and updates would generate higher revenue and profit than selling individually because cost of sale is less. Another example: A website hosting company has higher marketing costs to get you as their subscriber. Afterwards there is little expense to keep you. They also have the pain of transferring to another host on their side. 7. What type of marketing system is the producer using for the product? How is the producer supporting you in your marketing success? Some companies provide all the materials, some don't. Do you have to do all the marketing production? Do you have the skills, time, or patience to do it? If they don't provide it, how much is it going to cost you? A sizable profit margin can look great until you calculate in $5,000 for a generating the marketing material needed to sell. Be very clear on this one, it is a major downfall to many opportunities. Know exactly what you need and what it is going to cost y About Safety Excavation and Trenching Day after day my in box, and I'm sure yours as well, fills
with opportunity propaganda on how to make money. Do this,
and poof, you're rich. Become an affiliate and sell my
ebook, and poof, you're making lots of money. I don't know
about you, but I can't tell what’s a good opportunity and
what’s not any more. Because of this, I created a list of
nine criteria, a sort-of checklist, to use when I do find
something that I don't think is full of "poof."Excavation and trenching are known as the most unsafe construction operations. Excavation is defined as any man-made cut, cavity, land clearing or trench in the earth’s surface formed by earth removal. A trench is defined as a narrow alternative excavation, which is deeper than it is wide, and is not wider than 15 feet (4.5 meters).Dangers involved in Excavation and TrenchingCave-ins have the maximum risk and are much more probable than other types of excavation associated accidents to result in worker fatalities. Other possible dangers include falls, falling loads, harmful atmospheres, and other incidents concerning mobile equipment. Trench gives way cause dozens of losses and hundreds of harms each year.Common Excavation and Trenching RulesHeavy equipment tools should be kept away from trench edges.Surcharge loads needs to be at least 2 feet from trench edges.One should not work under raised loads. Test for low oxygen, dangerous fumes 1. Is the product any good -- in my opinion, and in my markets? This is especially true for me. I've found that informational fre*e products are nothing more than a tease. I just get tired of wading through 150 pages to find four pages that have anything "real." In addition, if they aren't decently organized or written, less than 2 out of 25 reach this from the hundreds I've read, how different is the information? Why would anyone want to pay $49 or $249 for the same thing offered in a $20 book? E-books aren't books. People don't buy them for the same reason. Even if the product isn't an informational product, what is different, unique, and important enough for me to buy that I can't buy somewhere else for less? Are the solutions clear, or presented from the producer’s viewpoint and give me a sale dance? Some people don't care and sell anything. Does this producer fall into that category? If they do, it’s usually apparent. I've asked website owners who sell outside products about many confess they haven't read or tried it, and don't care about its truthfulness or value, just the revenue. I cringe when I get an e-mail that personally promotes a teleseminar and then in the material it says, "first time given." How does this build trust and credibility? Well, it doesn't. Smart people don't return. The seller now incurs the label of the producer. Please, please, please, if you come across a poor product, ask for a refund. These people are counting on you not having the courage or taking the time to ask. If this would occur more frequently, the marketplace would demand and receive higher quality. Silence keeps poor products circulating. Vote with your wallet. 2. What is the market demand status for this product? Where on the bell curve does demand fall? The bell curve, a symmetrical curve for illustrating where a product stands in the sales process, slowly rises for new products, reaches a curved plateau, then spirals down, sometimes fast, sometimes at the same grade of its rise, depending on the product and economic market conditions. This holds true for physical or information products wherever distributed. How long has the product been in the marketplace? Is it new, old, or been over exposed? This takes some research. Caution though, if the original producer doesn't answer your question, that gives you the answer. What plans does the producer have for future sales product? Is it being offered to just anyone? Is he just starting? One strategy for ebooks sales is to sell to early adaptors, then set up an "everyone" affiliate program. What is their definition of "everyone?" Is the opportunity going from retail product to Internet? Some opportunities don't work well with this conversion. For instance, take Coke, it’s sold retail and won't work on- line. Website hosting and domain name is now an over sold opportunity. Jumping in on this product is jumping in on a plateau product that requires major pushing for production if you want enough worthwhile revenue. Are you willing to put enough effort into it (discussed later)? 3. Who Is The Producer? Is the producer a stable company or new? The major reason new businesses have difficulty selling is because people take a wait and see stance. People prefer to buy from successful people and companies. Statistics confirm that 85% of new business will not be around next year. People want to buy from successful ventures, successful people, people that have stability, tenure. At this point, if I am unable to uncover any solid information about the company, I don't continue past this point. Don't have any hesitancy about emailing or calling them with questions. Many times, I can't even find a phone number. No response, drop the opportunity and move on to another. 4. Revenue Generating Realty Check Of course, the promo material will state the highest projections and usually leave out negative particulars. Ignore this, find, and calculate your own probabilities. Since I have a heavy background in accounting, it’s easier for me to do this. Not your area, then ask an accountant for assistance, take a class, find a book, and learn this calculation. The skill will serve you many ways in the future. Remember to set your personal feelings aside when evaluating an opportunity. It distorts the facts. Sell with emotions but don't make a decision to invest your precious resources with it. Calculate your break even point, what income you want, how many sales equal that over what period, are three questions that need an honest answer. E-books need 117,000 to 225,000 exposures to generate sizeable revenue. How are you going to get that number? Yes, that number is possible. 5. Pricing Can the buying market afford the price? How much discretionary income does the prospective buyers make? Can they afford the product? Where does your price stand with the competitors? If you're price is higher, is there value there to justify the difference? Value in the eyes of buyers, not yours. Pricing doesn't always make or break an opportunity, however, if it’s the only opportunity it can cost the company existence. 6. Is this a one-time sales product? Finding a product that generates revenue without any expenses is hard to find and needs top consideration. One- time sale products require more marketing and cost per sale is higher. For instance, a membership access fee to all available ebooks and updates would generate higher revenue and profit than selling individually because cost of sale is less. Another example: A website hosting company has higher marketing costs to get you as their subscriber. Afterwards there is little expense to keep you. They also have the pain of transferring to another host on their side. 7. What type of marketing system is the producer using for the product? How is the producer supporting you in your marketing success? Some companies provide all the materials, some don't. Do you have to do all the marketing production? Do you have the skills, time, or patience to do it? If they don't provide it, how much is it going to cost you? A sizable profit margin can look great until you calculate in $5,000 for a generating the marketing material needed to sell. Be very clear on this one, it is a major downfall to many opportunities. Know exactly what you need and what it is going to cost yo Wholesale Distributors Finding a New Retail Market on the Internet hey do, it’s usually
apparent. I've asked website owners who sell outside
products about many confess they haven't read or tried it,
and don't care about its truthfulness or value, just the
revenue. I cringe when I get an e-mail that personally
promotes a teleseminar and then in the material it says,
"first time given."Companies that traditionally wholesale their goods to commercial markets are finding a niche in retail sales, selling their wares to individuals over the Internet. Sales of goods ranging from designer jewelry to gourmet coffees are perfect for the Internet. Items that might not be able to support a brick and mortar store, with its need for regular hours, an ever-present sales staff, and lots of inventory, can easily be operated as a sideline by a wholesaler. Software that creates a retail website with online credit and debit card capability is easily accessible and not that expensive; predesigned templates make it easy to give the website a unique and professional look.One jewelry wholesaler lives in rural New Hampshire and wholesales her jewelry to customers all over the Eastern Seaboard. She recently decided to start a website retailing selected pieces of her jewelry to individual customers via the Internet, and is pleased with the results. "I find that I am enjoying the creative process," she said. "It's fun to see what How does this build trust and credibility? Well, it doesn't. Smart people don't return. The seller now incurs the label of the producer. Please, please, please, if you come across a poor product, ask for a refund. These people are counting on you not having the courage or taking the time to ask. If this would occur more frequently, the marketplace would demand and receive higher quality. Silence keeps poor products circulating. Vote with your wallet. 2. What is the market demand status for this product? Where on the bell curve does demand fall? The bell curve, a symmetrical curve for illustrating where a product stands in the sales process, slowly rises for new products, reaches a curved plateau, then spirals down, sometimes fast, sometimes at the same grade of its rise, depending on the product and economic market conditions. This holds true for physical or information products wherever distributed. How long has the product been in the marketplace? Is it new, old, or been over exposed? This takes some research. Caution though, if the original producer doesn't answer your question, that gives you the answer. What plans does the producer have for future sales product? Is it being offered to just anyone? Is he just starting? One strategy for ebooks sales is to sell to early adaptors, then set up an "everyone" affiliate program. What is their definition of "everyone?" Is the opportunity going from retail product to Internet? Some opportunities don't work well with this conversion. For instance, take Coke, it’s sold retail and won't work on- line. Website hosting and domain name is now an over sold opportunity. Jumping in on this product is jumping in on a plateau product that requires major pushing for production if you want enough worthwhile revenue. Are you willing to put enough effort into it (discussed later)? 3. Who Is The Producer? Is the producer a stable company or new? The major reason new businesses have difficulty selling is because people take a wait and see stance. People prefer to buy from successful people and companies. Statistics confirm that 85% of new business will not be around next year. People want to buy from successful ventures, successful people, people that have stability, tenure. At this point, if I am unable to uncover any solid information about the company, I don't continue past this point. Don't have any hesitancy about emailing or calling them with questions. Many times, I can't even find a phone number. No response, drop the opportunity and move on to another. 4. Revenue Generating Realty Check Of course, the promo material will state the highest projections and usually leave out negative particulars. Ignore this, find, and calculate your own probabilities. Since I have a heavy background in accounting, it’s easier for me to do this. Not your area, then ask an accountant for assistance, take a class, find a book, and learn this calculation. The skill will serve you many ways in the future. Remember to set your personal feelings aside when evaluating an opportunity. It distorts the facts. Sell with emotions but don't make a decision to invest your precious resources with it. Calculate your break even point, what income you want, how many sales equal that over what period, are three questions that need an honest answer. E-books need 117,000 to 225,000 exposures to generate sizeable revenue. How are you going to get that number? Yes, that number is possible. 5. Pricing Can the buying market afford the price? How much discretionary income does the prospective buyers make? Can they afford the product? Where does your price stand with the competitors? If you're price is higher, is there value there to justify the difference? Value in the eyes of buyers, not yours. Pricing doesn't always make or break an opportunity, however, if it’s the only opportunity it can cost the company existence. 6. Is this a one-time sales product? Finding a product that generates revenue without any expenses is hard to find and needs top consideration. One- time sale products require more marketing and cost per sale is higher. For instance, a membership access fee to all available ebooks and updates would generate higher revenue and profit than selling individually because cost of sale is less. Another example: A website hosting company has higher marketing costs to get you as their subscriber. Afterwards there is little expense to keep you. They also have the pain of transferring to another host on their side. 7. What type of marketing system is the producer using for the product? How is the producer supporting you in your marketing success? Some companies provide all the materials, some don't. Do you have to do all the marketing production? Do you have the skills, time, or patience to do it? If they don't provide it, how much is it going to cost you? A sizable profit margin can look great until you calculate in $5,000 for a generating the marketing material needed to sell. Be very clear on this one, it is a major downfall to many opportunities. Know exactly what you need and what it is going to cost y Private Jets: Reviewing the Embraer Legacy hough, if the original producer doesn't answer your
question, that gives you the answer. What plans does the
producer have for future sales product? Is it being offered
to just anyone? Is he just starting? One strategy for
ebooks sales is to sell to early adaptors, then set up an
"everyone" affiliate program. What is their definition of
"everyone?"Private jet operators have a good selection of aircraft models to choose from when considering their next purchase. In the cabin class size, the Boeing Business Jet, Airbus Corporate Jet, Gulfstream 450 and 550, as well as various Bombardier offerings and the Falcon 2000 all stand out. Embraer, the Brazilian aircraft manufacturer, is a new player and is represented by a pair of models under the Legacy name. The Legacy Shuttle is configured to carry from 16-39 passengers while the Legacy Executive typically carries 13-16 passengers. For private jet comparison we will look at what the Executive has to offer.Matching up to aircraft in its class, the Legacy is similarly appointed. The Embraer has all the creature comforts usually found in an aircraft of its size; a well appointed cabin and a seating configuration for 13 or more passengers. Delivered aircraft typically feature fine quality hardwoods, fabrics and finishes, in addition to a sideboard, tables and a three-seat sofa. Passengers on the Legacy have access to Airshow s Is the opportunity going from retail product to Internet? Some opportunities don't work well with this conversion. For instance, take Coke, it’s sold retail and won't work on- line. Website hosting and domain name is now an over sold opportunity. Jumping in on this product is jumping in on a plateau product that requires major pushing for production if you want enough worthwhile revenue. Are you willing to put enough effort into it (discussed later)? 3. Who Is The Producer? Is the producer a stable company or new? The major reason new businesses have difficulty selling is because people take a wait and see stance. People prefer to buy from successful people and companies. Statistics confirm that 85% of new business will not be around next year. People want to buy from successful ventures, successful people, people that have stability, tenure. At this point, if I am unable to uncover any solid information about the company, I don't continue past this point. Don't have any hesitancy about emailing or calling them with questions. Many times, I can't even find a phone number. No response, drop the opportunity and move on to another. 4. Revenue Generating Realty Check Of course, the promo material will state the highest projections and usually leave out negative particulars. Ignore this, find, and calculate your own probabilities. Since I have a heavy background in accounting, it’s easier for me to do this. Not your area, then ask an accountant for assistance, take a class, find a book, and learn this calculation. The skill will serve you many ways in the future. Remember to set your personal feelings aside when evaluating an opportunity. It distorts the facts. Sell with emotions but don't make a decision to invest your precious resources with it. Calculate your break even point, what income you want, how many sales equal that over what period, are three questions that need an honest answer. E-books need 117,000 to 225,000 exposures to generate sizeable revenue. How are you going to get that number? Yes, that number is possible. 5. Pricing Can the buying market afford the price? How much discretionary income does the prospective buyers make? Can they afford the product? Where does your price stand with the competitors? If you're price is higher, is there value there to justify the difference? Value in the eyes of buyers, not yours. Pricing doesn't always make or break an opportunity, however, if it’s the only opportunity it can cost the company existence. 6. Is this a one-time sales product? Finding a product that generates revenue without any expenses is hard to find and needs top consideration. One- time sale products require more marketing and cost per sale is higher. For instance, a membership access fee to all available ebooks and updates would generate higher revenue and profit than selling individually because cost of sale is less. Another example: A website hosting company has higher marketing costs to get you as their subscriber. Afterwards there is little expense to keep you. They also have the pain of transferring to another host on their side. 7. What type of marketing system is the producer using for the product? How is the producer supporting you in your marketing success? Some companies provide all the materials, some don't. Do you have to do all the marketing production? Do you have the skills, time, or patience to do it? If they don't provide it, how much is it going to cost you? A sizable profit margin can look great until you calculate in $5,000 for a generating the marketing material needed to sell. Be very clear on this one, it is a major downfall to many opportunities. Know exactly what you need and what it is going to cost y Total Solutions or Total Disaster ng or calling
them with questions. Many times, I can't even find a phone
number. No response, drop the opportunity and move on to
another.Business relationships need to provide you with the business you need. Whether you use an alliance, a leads group or a Power Team, you need to make sure that you are dealing with someone that is reliable, honest, and ethical. There have been many horror stories with relationships that have gone sour because one person did not live up to their side of the bargain. I worked with a person a few years back that wanted to develop a publishing house. He had the money and I had the expertise. This was great, but I was blind as to the pitfalls. The first thing we did was form a fifty-fifty partnership. He decided that I could be President of the company and he would take up the vice-presidents position. It worked well for a few months until he decided that he did not like the way I was managing the business. Since we were fifty-fifty partners, we were at a stalemate. I could no longer do what I thought was best for the company and he could veto everything we tried to do. As a result, the company failed and we were both out of 4. Revenue Generating Realty Check Of course, the promo material will state the highest projections and usually leave out negative particulars. Ignore this, find, and calculate your own probabilities. Since I have a heavy background in accounting, it’s easier for me to do this. Not your area, then ask an accountant for assistance, take a class, find a book, and learn this calculation. The skill will serve you many ways in the future. Remember to set your personal feelings aside when evaluating an opportunity. It distorts the facts. Sell with emotions but don't make a decision to invest your precious resources with it. Calculate your break even point, what income you want, how many sales equal that over what period, are three questions that need an honest answer. E-books need 117,000 to 225,000 exposures to generate sizeable revenue. How are you going to get that number? Yes, that number is possible. 5. Pricing Can the buying market afford the price? How much discretionary income does the prospective buyers make? Can they afford the product? Where does your price stand with the competitors? If you're price is higher, is there value there to justify the difference? Value in the eyes of buyers, not yours. Pricing doesn't always make or break an opportunity, however, if it’s the only opportunity it can cost the company existence. 6. Is this a one-time sales product? Finding a product that generates revenue without any expenses is hard to find and needs top consideration. One- time sale products require more marketing and cost per sale is higher. For instance, a membership access fee to all available ebooks and updates would generate higher revenue and profit than selling individually because cost of sale is less. Another example: A website hosting company has higher marketing costs to get you as their subscriber. Afterwards there is little expense to keep you. They also have the pain of transferring to another host on their side. 7. What type of marketing system is the producer using for the product? How is the producer supporting you in your marketing success? Some companies provide all the materials, some don't. Do you have to do all the marketing production? Do you have the skills, time, or patience to do it? If they don't provide it, how much is it going to cost you? A sizable profit margin can look great until you calculate in $5,000 for a generating the marketing material needed to sell. Be very clear on this one, it is a major downfall to many opportunities. Know exactly what you need and what it is going to cost y General Information Regarding Selling Your Business ers, not yours. Pricing doesn't always make or break an
opportunity, however, if it’s the only opportunity it can
cost the company existence.In today?s marketplace, the sale and purchase of businesses occurs quite often at all different levels including anywhere from small, privately owned companies to large corporate conglomerates. Regardless of the type of business one owns, there are a few tips one should follow when selling their business. The following paragraphs will highlight some of these handy guidelines.Make the Necessary PreparationsPrior to the day in which the business changes hands, it is important that the soon to be ex-business owners take the necessary steps in order to ensure that the transaction goes smoothly. This should be done before the individual business owner even finds a buyer for the business as a company that can stand on its own, independent from the current owner, has an extremely attractive quality to it. Therefore, it is important to make the business as self-sufficient as possible prior to the sale.The Asking Price Should Be ReasonableAlthough most individuals would like to get as much money as possible 6. Is this a one-time sales product? Finding a product that generates revenue without any expenses is hard to find and needs top consideration. One- time sale products require more marketing and cost per sale is higher. For instance, a membership access fee to all available ebooks and updates would generate higher revenue and profit than selling individually because cost of sale is less. Another example: A website hosting company has higher marketing costs to get you as their subscriber. Afterwards there is little expense to keep you. They also have the pain of transferring to another host on their side. 7. What type of marketing system is the producer using for the product? How is the producer supporting you in your marketing success? Some companies provide all the materials, some don't. Do you have to do all the marketing production? Do you have the skills, time, or patience to do it? If they don't provide it, how much is it going to cost you? A sizable profit margin can look great until you calculate in $5,000 for a generating the marketing material needed to sell. Be very clear on this one, it is a major downfall to many opportunities. Know exactly what you need and what it is going to cost you in time and money. 8. Are you going to do the pitching, the sales calls, and the follow-up? Be realistic, do you have the time, the skills, patience, and courage to do all these parts? If you are short on time because of a full-time job, are you willing to give up your evening hours to follow-up on inquiries, do mailings, or make sales calls? What is your comfort level with sales? If not, what is training going to cost -- in time and money? Is it worth it then, or can you pass this up and find another product that is a better match? 9. What same category spin-offs products are available? Can you find other similar products that build on this product? Once a customer buys one product from you and they are pleased, they will consider another in the same category. You can also double up and do 2 for 1 specials or promote with a "one free with the purchase of." In Summary Keep your eyes open, know your boundaries with the product and the marketing. Search for the unsaid costs, the ones the company doesn't want you to discover until after you purchased or made the initial investment. Take the time and talk with others selling the product that have no connected to the outcome of your decision.
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