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3 Characteristics Of "The Right Business" Model
- The business must service a large market.
Niche markets are also very profitable but require specialist products and customer service. Target niche markets when you are more confident in your business abilities.
- The business must adapt and change with the market.
Be aware faddish businesses can be very difficult to operate because of the rapid rate at which market perceptions change.
- Initial start-up capital requirements must be minimal
Many new business owners work to tight budgets and have limited resources to start-up. Ideal business models should therefore have low start-up costs.
What Business Fits These Characteristics?
A (home based), direct response marketing business, dealing in Information has all these characteristics and offers unparalleled flexibility for the serious Wealth Creator.
Direct response marketing is all about the targeting of a specific market by use of mail shots.
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Mail shots can be sent by post as happens in mail order or by e-mail as happens in the online Internet world.
Let's get specific and see how direct response marketing fulfils the characteristics of "The Right Business"
Large Market
Direct Response is a multi billion dollar industry and growing.
The US leads the world in direct response marketing, principally due to the geographical spread of the country, and the almost universal acceptance of direct response marketing as a valid means of buying and selling products.
The UK is a very sophisticated direct marketers environment, where many US trends manifest themselves as a result of the close cultural, economic and political ties between the two countries.
5 Reasons Why The Business Should Deal With Information.
- People like Information. They seek it everywhere. On the TV, on radio, at the cinema, in newspapers, in books and reports and increasingly on the Internet.
- The need for Information seems insatiable - the more a person knows about a particular subject, the more they want to know. It is also true that the less someone knows about something which is of some interest to them the more they will seek out information to expand their knowledge.
- Advances in technology in computing and desktop publishing means it is now unbelievably easy and cost effective to engage in Information provision businesses.
- People will pay money for access to good, useful sources of information. They have little time to do the required research themselves and will pay someone else to distil the information they require into useable forms.
- There are numerous Information product types and it is more than likely you will find one or more of the following financially rewarding. E-zines, audio tapes, video tapes, CD-ROM, DVD, Live tele-conferences, workshops and Seminars.
Adaptable Business
A direct marketing business working with Information affords you the opportunity to change with your market as quickly as it takes to produce a new Information product.
This can literally range from a few hours for new, short shelf life information products to a few days or weeks for longer lasting Information items.
In some cases the changes you need to make to your products to stay ahead of changing market trends may be as simple as title changes and a few amended paragraphs in the content.
Low Start-Up Capital Requirements
Many of your good ideas go by the wayside for one simple reason. It costs too much to successfully float the idea, and then to sustain it through the early years as it becomes established.
An Online direct response information product business can be started for less than $300 per annum in the USA or £200 per annum in the UK.
At the very minimum, you will require
- A domain and website on a professional hosting platform
- An Autoresponder Service to send out e-mail communications to your prospects and customers
- You will also require some means for accepting payment for your Information Product.
One of the truly remarkable things about this business is that these requirements can be achieved for the low capital outlay described above.
Conclusion
Information marketing is not the only "ideal" business model, and I am sure you can think of others that fit the characteristics noted at the beginning. However, Information marketing via direct response offers you the perfect Business setup to ensure a positive start-up and a healthy business model.
About The Author
Charles Kangethe of http://www.simplyeasier.com is a leading new wave Netpreneur and a published author from England. The "Simply Easier" brand name is your guarantee of high value, quality Marketing Products, Services and Resources.
Charles has been involved in direct response marketing since 1982. He now lives in Suffolk County and spends his time working on new Online Marketing campaigns, with particular focus on helping new netpreneurs.
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