The voice you heard by the majority of people in the Net is true, the real true money generating machine is to offer your own product or service where you can keep 100% of the profits.
Before you even start creating or introduce your own product or service, you should do some research to check the target market size, competitors and the available pricing methods available for the type of product or service that you intend to offer.
The most common product that people develop are ebook or what is commonly known as info product. It is based on the experience that you have accumulated over the years either through your jobs or hobbies and convert them into writings.
Everyone of us have a special skills and things that we do better than the rest. You can further expand your knowledge database via further education or self-education in order to create the business.
Many new business are created not by developing new products or services but by improving something that already exists. The initial innovators of products might received lots of recognition for their innovation might not know how to make the product appeal to the mass consumers and sell like hot cakes. Subsequent bright businessmen or women succeeded in relaunching the same product after some improvement as they are able to saw the mistakes that have been made and was able to capitalized on it.
The movies industry is the best example, many movies are just about repackaging to appeal to the movies consumers. Why develop new super heroes when you can make good money from old familiar heroes like Spiderman. Many movies goers grows up watching Spiderman cartoon and although they maybe adults now,
they still enjoy it like when they was young. It is so familiar with them.
Therefore, time spend trying to find brand new idea should instead be spend on improving existing idea. The most important criteria is to try and find a NEED which you can filled.
For improving your business success rate, try not to go into a hot industries that are already overcrowded with suppliers unless you can offer something cheaper and better than them and still make a profit. Finding a niche market is a better strategy as an unique product or service will increase your chances of success.
Starting a Work At Home Online Business means that you should look for product or service that can be sold online and delivered to people living around the world. It should be cheaper or more convenience to order online rather than offline.
The most famous successful niche finder is Amazon.com. The books they sold already exist offline and by bringing it online and pricing its books competitively, they slowly build up their niche market and have now become the world largest online books sellers.
Therefore, open your eyes wide and start looking at things around you and think of ways to improve them.
