Continuing the discussion of how to start your business the right way, Michelle explains the different business models that product sellers can choose for their business. This is not a legal discussion but merely part of the planning phase.
Find out the pros and cons to being a retailer, manufacturer, dropshipper or affiliate. Each of these models require different amounts of start up capital, they each have different earnings potential and each has different ways of handling inventory.
For more details about starting your business correctly, please visit our archives here at Moms Talk Radio or at Product Sellers Talk Radio.
Discovering your personality traits can yield a lot of insight into whether you should own your own business or whether you need a partner to balance your strengths and weaknesses.
This week Michelle’s guest is Kelly McCausey from Moms Talk Network who shares her insights into this fascinating field. The four personality types are: choleric, sanguine, melancholy and phlegmatic. Each category has its own strengths and weaknesses and it’s possible to be a combination of types. Listen in and find out which type best describes you!
To learn more about personality types, click here for two free resources from Kelly.
If you have been following Michelle’s series this month, your first step in setting up your business is deciding what target market to serve and doing some market research.
This week we’re moving onto Step 2, which is deciding what product to sell. Many people will tell you to sell something you are passionate about but what does that really mean? How do you figure that out?
Michelle’s guest this week is Katherine Reschke from www.PassionsThatPay.com and she helps us make sense of what “being passionate” in business means. She leads us through the process of determining what gives us joy and meaning in life and she reveals two very important tools that you need to make your business a success.
If you feel that you need some private coaching, visit www.MichelleWatersOnline.com for information about the Product Sellers Club.
This week Michelle Waters and co-host Stephanie Fish from Buckeye VA continue the “Starting Your Online Product Selling Business” series with a review of how to conduct market research BEFORE you start to sell your product online. While it is important to have a passion for the product you sell, if you do not have a customer base who wants your product, you will not have any sales.
With careful planning and market research, you will build your business while successfully cultivating new customers in your target market. Michelle discusses three easy ways to conduct market research and why people who show a sincere interest in their market will be more successful than the person who just wants to make sales.
Many work at home moms start their online businesses with a website and don’t give a lot of thought to their marketing or business plans. Having a website is an important step to creating your online presence but it should not be the very first thing you create.
This week host Michelle Waters is joined by Stephanie Fish of www.BuckeyeVA.com who shares the story of her first online business venture. Hear about the mistakes she made and why she closed up her candle shop after just one year.
Michelle is dedicating the month of January to helping new work at home moms set up their business in the right order. By having a systematic way of putting the business pieces into place, you will be more organized and each task will build upon the last, leading you to online business success.
Michelle’s guest this week is Angela Wills, the author of New Year’s Profits, and she shares some important business practices that product sellers can incorporate into their marketing plans for the new year.
Find out why article writing and marketing can increase your website traffic and find out why blogging is so important in the online world. Click here to download Angela’s free report.
You are also invited to check out our membership site, Product Sellers Club. Gain access to exclusive business resources and private business coaching in our private forum.
Michelle’s guest this week is Kristine McKinley of www.FinancialTipsForWAHMs.com and she shares some of the biggest tax deductions that home business owners miss on their tax returns. She also has some great tips for implementing a good bookkeeping system, what tax planning means and what expenses are deductible if you have yet to make a profit in your business.
Preparing your bookkeeping system and organizing your tax documents really should be an ongoing process so you are not left struggling at the end of the year with mass chaos. Find a plan that works for you and stay up-to-date with your files and books so tax season is less stressful.
Product sellers depend on good marketing and advertising to tell the world about their products. For large corporations, advertising on mass media such as radio is a regular part of their marketing plan but smaller, home-based businesses are often scared of the potential cost of such a venture.
This week we are talking about affordable radio advertising with Patrysha Korcinski from www.EasyResultsWithRadio.com Patrysha explains that radio advertising is not the best format for every product seller but if you decide to use radio ads, frequent ads will increase people’s awareness of your business and eventually the listeners will seek you out to purchase your product.
Discover how your local hometown radio station can offer you a wealth of free demographic information and how podcast advertising can benefit businesses with a very small, distinct niche.
Marketing your product as an offline fundraiser to schools, teams, and scouting groups can increase your exposure and also provide some added income during your slower months. Consider this your offline affiliate program; you reap the profits and increased exposure without having to do the actual selling!
Michelle’s guest this week is Cara Mirabella of www.CarasCafe.com and she has some great advice for the physical product seller on how to increase profits with fundraisers. Not only can you increase your profits, you can develop a relationship with your local fundraising organizations, resulting in annual fundraisers — and extra money — that you can count on.
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