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Manufactured products: These are items created in-house or by a third party that are stored, sold, and shipped by you, like dinnerware, shoes, makeup, electronics, or auto parts. This is a great option if you can’t physically produce a product yourself or if you want to scale, but it does involve higher startup costs since you’ll have to acquire inventory up front.
While having a great product or service is require, without buyers, you still don't have a business. Knowing your market, what it wants and needs, and what inspires it to buy, are crucial to your success. This means discovering your target market and determining your unique selling proposition, the thing about your product or service that sets apart from others that are similar. Here are a few things to consider:
Running a home business isn't done in a vacuum. Members of your family may need to make sacrifices or lifestyle changes in order to accommodate your business. As a result, they need to know what you're up to and how it might affect them. If you have a spouse or significant other or children living with you, your home business will be a big part of their lives too.
If you have the expertise or a passion or interest for a subject, you're ready to start making money with a blog. With a service like Blogger (www.blogger.com), you can start up your blog totally free. You can also create your own site and secure your own hosting for a low price, which is generally the route I recommend, as many free blogging sites have restrictions on what you can say or do, including making money or advertising.
Using the data you gather from your research, you can come up with a unique value proposition. Think of this as what separates you from your competition, while at the same time something that your customers want. To come up with a unique value proposition, examine what everyone else is doing and the current market. Then, determine how you can provide a better solution, offer a better price point, or both.
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