Product Creation – Successful Entrepreneurs Develop Their Own Products

There is nothing like having your own product to sell. You can keep all the profits for yourself. If you are selling affiliate product, you have to worry whether the company will remain in business, or whether the rates of commission will reduce or that there is not enough market for those products. In fact, when you have your own product, you can affiliate it and offer commissions for its sale. But in this case also, you get to keep a good portion of the profits.

You can develop products to distribute freely or you can sell them to earn profits. When you distribute freely, you get to build a list which can then be useful in marketing your products. There are 2 requirements of products.

1. They must be wanted by your target audience. You cannot sell something which does not serve any purpose or does not solve any problem. If you find that your customers need information on how to lose weight, you must write an e-book on ways of losing weight. If your target audience wants to know what the great places to visit in Singapore are, you write about that. So where do you find what they want. For this, you must regularly visit internet forums related to your field of interest and watch what people are talking about.

2. The products must be in downloadable format. For instance, if you are writing an e-book, make it available in PDF format which is easy to share and print. If you are making an audio product, create it in MP3 format which is the most widely used format for audio files. On the internet, people want instant gratification. As soon as they sign up to your list, they would expect to get the freebie or the product.

There are many types of products you can create digitally. I will explain about 3 such products.

1. E-book: You can create an e-book which is nothing but your content, organized in chapters and presented with an attractive title. E-books are very popular information products and can be used in a variety of ways.

2. Audio Product: You can record a training session or an interview and develop and audio product. If the interview is long, break it up into small parts and run an email audio course. All you need to do is to give out the link in the email and students will access it from your servers.

3. Screen Capture Product: You can develop products to teach people how to use the internet or any other software product. Use tools like Camtasia to capture screens of the products and add a voice over to explain the navigation.

Developing your own product is the first step to take your entrepreneurship to the next level of success.

What Do Leaders of Successful Businesses Do? And 7 Habits of Effective Leaders

What Do Leaders of Successful Businesses Do?

For a business to be successful, it must have a strong leader. Leadership can make or break a company. This is why public companies pay several million dollars for a new chief executive officer. Below are nine characteristics of successful business leaders. It is therefore important to ensure you are equipped to manage the situation in the best way possible.

Guy Kawasaki has given his opinions on how to handle this difficult process in his recently released book; “Reality Check”. We have summarised a few of his key tips below:

1. Have a positive attitude. Believe that your business is the best business in the world. Self-confidence leads to decisiveness and in particular, the ability to back your own judgment and to take risks. Be determined. Be persistent. Be resilient. Overcome setbacks. Do not dwell on past mistakes and learn from your errors.

2. Love what you do. Enjoy your work and the challenge it provides. Work should be fun, not merely something to be tolerated. Enthusiasm generates a hard work ethic and a passion which becomes part of the culture of your business.

3. Seek wealth creation. Aim to maximise your sales by increasing your prices, selling more to your existing customers or obtaining more customers either in your local area, in another state or in another country. Control your costs. Eliminate waste. Sell unproductive assets and discontinue unprofitable products. Know your business. Measure your marketing. Strategic partnerships with suppliers and customers can give your business greater flexibility and enable you to better manage your costs and maintain or increase your margins. Maintain your competitive advantage. Study your competitors’ assets, capabilities, marketing, costs and culture.

4. Delegate. It is impossible to do everything yourself. It is also unwise as it is more productive to get those with the appropriate skills to do appropriate tasks. The ability to get people with different skills to work as a team is a starting point for all successful businesses. Recruit high quality staff with complimentary skills and organise these people in the most efficient way. Motivate your staff and encourage them to think independently. Non-performing staff which don’t fit the culture of your business need to be replaced quickly because they can affect relationships with your customers and other staff members and ultimately the profitability of your business

5. Seek financial, marketing and legal advice. Have a vision and clear goals. These goals should include future income and the achievement of various tasks. A strategy to grow the business and a detailed business plan consisting of marketing and financial plans are important. Manage your growth at a rate that enables your cashflow to remain positive.

6. Concentrate on doing what you do best. Specialise. Focus on single industries rather than diversifying. Maintain your core business. Outsource non-core activities and functions. Dominate a niche market rather than attempt to serve a large number of markets.

7. Have systems in place. You need the business to run efficiently even if you are away from the office for 12 months. The best example of a company with efficient systems is McDonalds. Teenagers can run their outlets profitably and efficiently because appropriate systems are in place.

8. Worksmart. Success does not mean working 100 hours a week. Today, it is more likely to mean working 35 hours a week and spending time with our family and pursuing your leisure interests. Working smart is much more important than working hard. Spend time working ‘on’ your business and not ‘in’ your business. Seek continual improvement. This may mean more efficient procedures, better systems, better marketing or better cashflow.

9. Have a good support base. Hire staff you can rely on for advice. However, use discretion when listening to advice from others. Encourage training. Foster an attitude of continuous learning both for yourself and your staff. Have a mentor. Be a mentor to your senior staff. Read and attend seminars. Notice what others are doing.

7 Habits of Effective Leaders

EFFECTIVE LEADERSHIP IS something we need to focus on daily. It’s something that takes practice, questioning how well you’re doing, reassessing and best of all continuing to try!

Like any learning, watching others who are good at leading and following their example (otherwise known as R & D – rip off and duplicate) is a successful strategy to follow. So here are the habits of effective leaders:

Clarity of Vision (and ability to share that vision).
Healthy discontent for the present.
High standards of excellence.
A sense of urgency (operating at pace).
Strong commitment to implement.
Ability to eliminate likely distractions.
Build a strong team.

Top 10 Books For Any Successful Home Business Entrepreneur

We, like most other successful Network Marketer’s have become students of Personal Development. Without keeping on top of your mindset, conditioning your belief system and realizing that it can be done it is very difficult to be massively successful. In the continuing process of our success we have read many many books. Some have been around for a long time and are staples in every Networkers Library while others are relatively new and should be. We thought we would take a moment and share with you some of our favorite books. Each of these books has had a significant impact on us personally and our business as well.

So here we go with our top 10 reads ( it may be difficult to narrow it down to 10 ). These books are not in any order, just the 10 books we have enjoyed of late:

1. The Secret (Rhonda Byrne)

2. The Traveler’s Gift (Andy Andrews)

3. The Answer (John Assaraf and Murray Smith)

4. The Law of Attraction (Michael J. Losier)

5. Think and Grow Rich (Napoleon Hill)

6. It’s Not About The Bike, My Journey Back to Life (Lance Armstrong)

7. Success Through a Positive Mental Attitude (Napoleon Hill and W. Clement Stone)

8. Think Big and Kick Ass (Donald Trump and Bill Zanker)

9. The Psychology of Winning (Dr. Denis Waitley)

10. The Action Sandwich (Alan Frew)

I feel the need to add one for good luck so here it is:

11. Shut Up, Stop Whining and Get a Life (Larry Winget)

As we prepare for our upcoming teleseminar on Overcoming Adversity, I thought I would take a moment and share a Quote that hits home with me — maybe you can use it or share it down the road:

“A certain amount of opposition is of great help to a man. Kites rise against, not with the wind” ~John Neal

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