Home Based Business Success Secret #5:Make Sure There Is A Market For Your Product

So here’s the 5th success secret. I’m sure you must be very excited to be receiving this information. I must admit this information is simply very powerful and I’ve probably said this before but I honestly wish someone had shared this information with me in April 2002 when I just started building a business from home. But the good thing is you can say thank God I came across this guy, DJ, who helped me get on the fast track to home business success.

Just remember to buy me a cup of coffee.

Anyway, let’s get cracking.

Someone said that if you want to make a lot of money in business find a problem that people want to solve and solve it for them and if you want to be frustrated in business, find a business that people need to solve and find a solution to solve it.

So what’s the difference between the 2 scenarios?

Well, one person is selling what people want while the other is selling what people need.

I remember an experience I had when after reading a really powerful book on the power of healthy living and the value of eating well having a toxin free home, I got completely sold on the idea of healthy living and started to promote a company that manufactured healthier alternatives to household products like cleaners, laundry, personal care products e.t.c as well as nutrition products at prices slightly higher than supermarket prices but really great quality.

I was convinced that every home needed those products as they could help people live longer, healthier lives so I went out there to spread the word.

I must say I’m a really persistent guy and I worked that business flat out for 2 years and yet there was no single month that I made up to $2000 with this business.

Why? Because people didn’t want to buy healthier alternatives to their current products at a higher price. Did they need the products? In my opinion I believe every home should use those products and till today I still tell people about them however I have realised that you don’t create a fortune promoting what people need, you create a fortune promoting what they want.

Let me tell you about another company whose products I promoted, they were in the telecoms industry and provided telephone, Internet and subscription TV packages at prices better than any other major telecoms company in the UK.

Was I passionate about their products? Not really.

However they did offer their products at great prices and people were calling me almost everyday to find out how they could subscribe and within 6 months I was earning about $8000 a month building this business from home using the Internet and the truth is I did not work this business half as hard as the previous one.

Am I saying it’s wrong to promote products that people may need and not really want? No I’m not but what I’m saying is if you want to maximise income potential then this is a very important factor.

Also, you need to make sure that there is room for you to compete in the marketplace or it simply won’t be worth it.

There is such a thing as a saturated market. When there are too many people promoting the same product, you need to be a highly skilled marketer, have a huge database of contacts who trust your judgement or very, very lucky to make any real money promoting that product.

There are some companies that have been around for a while, companies like Forever Living Products, Avon, Mary Kay, Amway, Herbalife to mention a few that have stood the test of time because they built their businesses on the foundation of good quality products but if you were going to build a business with anyone of these it will take a lot to create a significant income.

The truth is timing is a very important factor in business and you need to factor this in when looking.

Great, so there’s success secret #5 – Make sure there is a market for your product.

Look out for home based business success secret #6.

To your success,

DJ Sobanjo