Continued from page 1
These figures have been sourced from - http://www.ambroseprint.com/aa013003a.htm
Now lets get specific and see how direct response fulfils
characteristics of "The Right Business"
** Large Market **
Direct Response is a multi billion dollar industry and growing. For a statistical analysis see http://www.sherpastore.com/store/page.cfm/1988. The US leads world as a market place, principally due to geographical spread of country, 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 close cultural, economic and political ties between two countries.
Why Should You Start An Information Direct Marketing Business ?
=> People like Information. They seek it everywhere. On TV, on radio at cinema, in newspapers, in books and reports and since mid 1990's increasingly on Internet.
=> The need for Information seems insatiable - more a person knows about a particular subject, more they want to know. It is also true that less someone knows about something which is of some interest to them more they will seek out information to expand their knowledge.
=> Advances in technology in computing and electronics worlds means it is now unbelievably easy and cost effective to engage in Information provision business.
=> People will pay money for access to good, useful sources of information. They have little time to do required research themselves and will pay someone else to distil 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 following financially rewarding.E-zines (Internet name for Newsletters), audio tapes, video tapes, CD, DVD, Live tele-conferences, workshops and Seminars.
** Adaptable Business **
A direct marketing business working with Information affords you 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 news, short shelf life information products to a few days or weeks for longer lasting Information items.
In some cases 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 content.
** Low Capital Outlay **
Many of your good ideas go by wayside for one simple reason. It costs too much to successfully float idea, and then to sustain it through early years as it becomes established.
An Online direct response information product business can be started for less than $300 per annum in USA or £200 per annum in UK. At very minimum, you will require an Autoresponder service to serialise your Information product. An autoresponder is an e-mail service that sends out your information to your e-mail list at pre-defined intervals.
For those with a little bit more cash a secure e-book publishing tool will help safeguard your hard work against cyber theft. After you have compiled your material, last thing you want is for it to be "stolen". Secure tools exist to help protect you against cyber fraud and theft.
Finally, you will require some means for accepting payment for your Information Product.
One of truly remarkable things about this business is that all these requirements can be achieved for low capital outlay described above.
It's all very well to be able to start your new business on a shoestring, but adverse cash flow causes more startup businesses to fail than failure to make a profit.
When it comes to money there is one golden rule - Your business must generate more cash, than you pay out !! Long term survival is more dependant on this "law" than it is on making profits.
How then do you ensure that business you started up on a shoestring doesn't become a bottomless pit, swallowing up more money than it generates ?
Information marketing via direct response offers you perfect Business setup to ensure a positive cashflow.
This is one business in which you can test your product for profitability using a subset of large market you have identified. If it proves successful you then roll it out to rest of market.
If however, inital small scale, inexpensive test indicates that product is wrong, or market is not ready then you ditch product and move onto something else.
The key message here is Test your product before you commit money to project.
I can hear you asking - And how exactly do I do that ?
The simplest way to conduct a test is to
=> Identify a large, hungry, market
=> Using a sample from that market ask what information products they would like or
=> Generate your own idea for an Information product and then write to a sample of market and solicit their views as to it's usefulness and value.
Summary Strategy 1 - Choose The Right Business
Choosing "The Right Business" model is fundamental to your success.
Make it easy on yourself and choose a proven business model like Information marketing via direct response techniques. Add in Online, Internet technology and suddenly your chances of achieving your lifestyle ambitions are increased exponentially.
This is not to say you should not consider other Business models. Ultimately business has to be right for you and you alone. It must match you skills, and compliment your character and personality - this then becomes pleasurable, something you look forward to doing. Something worthwhile getting up in morning for.
================================================== Charles Kangethe has published various articles and e-zines showing YOU exactly how you can turn your dreams into reality. This article is introduction to a series of over 50 wealth creating strategies.
If you are serious about wanting to build a new, more fulfilling lifestyle for yourself and your loved ones then visit
www.simplyeasier.com.
Turning your dreams into reality is Simply Easier if you follow good advice. Get your good advice at www.simplyeasier.com
Charles Kangethe has published various articles and e-zines showing YOU exactly how you can turn your dreams into reality. This article is the introduction to a series of over 50 wealth creating strategies.
