Hi Readers,
Each Week I will feature a home based business idea.
All especially suited for those who are on a tight budget.
Visit my website for more free home business ideas or
to download free ebooks on starting a home based business....
You will find a link to my website Newbizreviews at the end of this the article.
IS SECRET SHOPPING FOR YOU?
Need quick cash? Perhaps, you’re a recentcollege graduate or stay at home Mom looking for fast cash.Or maybe you are between jobs, recently retired, lookingto increase your cash flow.
Join the exciting ranks of the Secret Shopper also known as Mystery Shopper, earn quick cash while satisfying your Shopping Addiction.
Secret Shoppers are hired to shop many service orientedcompanies. These might include banks, supermarkets,salons, clothing stores, record shops, gas stations andmore. Typically companies use the Secret Shoppers’ findingsto enhance their company.
Background:Retailers across the country often hire market researchcompanies to evaluate the quality of their services tocustomers. So they might evaluate where there is a needfor improvement.
These market research companies hire Secret Shoppers to evaluate assigned companies. They request the SecretShopper assume the role of a regular customer andpurchase an assigned item in a store, restaurant, giftshop, supermarket, even beauty salons.
After the visit to the shop the Secret Shopperis requested to report on their findings at thestore. Were they courteous? Did they answer questions? Didthey wait on the shopper promptly? Or was the store clean,neat, orderly?
The Secret Shopper is usually reimbursedand is allowed to to keep the purchase.
Also note Secret Shoppers are not considered employees’ but freelance contractors who are responsible for paying their own taxes.
You will never get rich Secret Shopping. Consider SecretShopping a part time gig. Most shoppers report it is a fun way to make quick cash and score a f*ree merchandise.
Typically the Secret Shopper is paid $6 and up per assignment. Once you’ve gained experience and are deemed trustworthy to finishassignments you will get the coveted higher paying jobswhich start at $10 to $100 per assignment.
The number of assignments you receive per week depends on the numberof clients in your location. The more clients, themore assignments you will receive.
First Shops:Rachel is a college student who recently signed up with a Secret Shopping company. She states, "who wouldn’t love to shop and eat forfree." She was paid $6 for the first shop assignment. Andreimbursed for the meal. She now receives assignmentsevery week. And finds it easy to schedule her shops aroundher school assignments and classes. Rachael also statesshe would recommend Secret Shopping to anyone looking tomake extra cash.
Right about now you are probably thinking How do I get started?First evaluate your background...is Secret Shopping a goodmatch for your personality, background, skills?
Requirements:-You must be very well organized.-You must be able to read and understand assignments.-You must complete assignments promptly. -You must be able to write objectively and precisely. -Reliability and trustworthiness are a must.
Equipment: Reliable transportation Computer, scanner, fax machine, copier, telephone line. Internet access, email address.
Getting Started:The registration process is simple. Join one of the manysecret shopper companies. You Surf to the websiteand fill out the online application. Once yourapplication is processed you will be added to a database ofsecret Shoppers. The company will inform you when a shopis available in your area. You will have the choice toaccept or decline the shop. So be sure to provide an emailaddress and telephone numbe that you check often so youwill not miss any important shop opportunities.
Here's two popular sources to get you started.
http://xy123.paidtoshop.hop.clickbank.net/
http://xy123.shopuyd.hop.clickbank.net/
-----------------------------------------------------(C)2007 B.Lee is a freelance writer and editor at Newbizreviewshttp://www.geocities.com/newbizreviews
3/27/2007
3/26/2007
Marketing
Understanding Your Market
Market evaluation is the most critical element of successful business planning. It provides the basic data that will determine if and where you can successfully sell your product or service and how much to charge.
While it may sound deceptively simple figuring out if a market exists for your product or service, it's probably one of the most challenging requirements of business. The process involves scrutinizing your competition and your customer base and interviewing potential suppliers.
The information collected can help you, if necessary, adapt your product or service to better meet customer needs. In some rare cases, it might lead to a totally new, but financially rewarding venture.
Market ResearchConducting market research can help you: create primary and alternative sales approaches to a given market, make profit projections from a more accurate base, organize marketing activities, develop critical short/mid-term sales goals and establish the market's profit boundaries. So, how should you go about conducting your research? Two of the most important first steps are defining your goals and organizing the collection/analysis process. Maintain a set of well documented and easily accessible files so you can store and retrieve data as needed.
Questions To AskYour research should ask these basic questions:
Who are your customers? Where are they located? What are their needs and resources? Is the service or product essential in their operations or activities? Can the customer afford the service or product? Where can you create a demand for the service or product? Can you compete effectively in price, quality and delivery? Can you price the product or service to assure a profit? How many competitors provide the same service or product? What is the general economy of your service or product area? What areas within your market are declining or growing?
Market DataKnowing your market not only requires an understanding of your product, but also an understanding of your customers' socioeconomic characteristics. In conducting your research, you can access relevant market information from these sources:The Small Business Administration's OnLine computer-based electronic bulletin board can be accessed by modem. It provides immediate, round-the-clock information on the SBA's services, publications and programs. Users can access a national calendar of events such as training programs, small business seminars and international trade fairs. Most information is available at no cost. Some interactive services involve a connection fee.
Other sources include:Your Local or University Library. Trade association studies and journal articles. Regional planning organization studies on growth trends. Banks, realtors and insurance companies. Customer surveys in your market area, which you can conduct on your own by searching out existing material. Finally, research on competitors is extremely important. Visit industry trade shows to find out what your competitors are selling and how they are marketing their products. Similarly, stay current on information in industry magazines and publications.
Once you have obtained and analyzed this information, it should become the foundation of your business plan. Research data also will help you develop the basic assumptions in your financial projections, which will tell you whether or not to go into business. You should not view market research, however, as a one-time activity. Once you establish your business, you should be in touch with your customers on a continuos basis. You may have to adapt your product/service and/or marketing strategy to keep up with your customers' changing needs.
Export MarketsIn general, you should be well-established in the U.S. market before committing resources and taking on additional risk to explore export markets. Some products, such as used equipment that is obsolete in the United States but new to other countries, may be particularly well-suited for exporting right from the start. Whatever your product or service, it is never too early to explore its export potential.Researching international markets involves many of the same steps as domestic market evaluation. The first step is to identify the countries with the largest and fastest-growing markets for your product. The SBA's Automated Trade Locator Assistance System (SGAtlas) can help. This market-research tool provides two types of reports. The product report ranks the top 35 import and export markets for a particular good. The country report identifies the top 20 products most frequently traded in a target market. The National Trade Data Bank, maintained by the U.S. Department of Commerce, also contains valuable market information.
From your list of possible markets, you will want to determine which offers the best prospects. You should examine the markets in greater detail, looking at how your product quality and price compares with that of goods already available. Also, you should determine who your major customers are.
With this information, you can pick one or two export markets to explore initially. You can add more markets later, as your export skills develop. Now you are ready to conduct more in-depth market research on this target market(s), just as you did before establishing your business.
Quote
Things may come to those who wait. But only the things left by those who hustle.
Abraham Lincoln
Market evaluation is the most critical element of successful business planning. It provides the basic data that will determine if and where you can successfully sell your product or service and how much to charge.
While it may sound deceptively simple figuring out if a market exists for your product or service, it's probably one of the most challenging requirements of business. The process involves scrutinizing your competition and your customer base and interviewing potential suppliers.
The information collected can help you, if necessary, adapt your product or service to better meet customer needs. In some rare cases, it might lead to a totally new, but financially rewarding venture.
Market ResearchConducting market research can help you: create primary and alternative sales approaches to a given market, make profit projections from a more accurate base, organize marketing activities, develop critical short/mid-term sales goals and establish the market's profit boundaries. So, how should you go about conducting your research? Two of the most important first steps are defining your goals and organizing the collection/analysis process. Maintain a set of well documented and easily accessible files so you can store and retrieve data as needed.
Questions To AskYour research should ask these basic questions:
Who are your customers? Where are they located? What are their needs and resources? Is the service or product essential in their operations or activities? Can the customer afford the service or product? Where can you create a demand for the service or product? Can you compete effectively in price, quality and delivery? Can you price the product or service to assure a profit? How many competitors provide the same service or product? What is the general economy of your service or product area? What areas within your market are declining or growing?
Market DataKnowing your market not only requires an understanding of your product, but also an understanding of your customers' socioeconomic characteristics. In conducting your research, you can access relevant market information from these sources:The Small Business Administration's OnLine computer-based electronic bulletin board can be accessed by modem. It provides immediate, round-the-clock information on the SBA's services, publications and programs. Users can access a national calendar of events such as training programs, small business seminars and international trade fairs. Most information is available at no cost. Some interactive services involve a connection fee.
Other sources include:Your Local or University Library. Trade association studies and journal articles. Regional planning organization studies on growth trends. Banks, realtors and insurance companies. Customer surveys in your market area, which you can conduct on your own by searching out existing material. Finally, research on competitors is extremely important. Visit industry trade shows to find out what your competitors are selling and how they are marketing their products. Similarly, stay current on information in industry magazines and publications.
Once you have obtained and analyzed this information, it should become the foundation of your business plan. Research data also will help you develop the basic assumptions in your financial projections, which will tell you whether or not to go into business. You should not view market research, however, as a one-time activity. Once you establish your business, you should be in touch with your customers on a continuos basis. You may have to adapt your product/service and/or marketing strategy to keep up with your customers' changing needs.
Export MarketsIn general, you should be well-established in the U.S. market before committing resources and taking on additional risk to explore export markets. Some products, such as used equipment that is obsolete in the United States but new to other countries, may be particularly well-suited for exporting right from the start. Whatever your product or service, it is never too early to explore its export potential.Researching international markets involves many of the same steps as domestic market evaluation. The first step is to identify the countries with the largest and fastest-growing markets for your product. The SBA's Automated Trade Locator Assistance System (SGAtlas) can help. This market-research tool provides two types of reports. The product report ranks the top 35 import and export markets for a particular good. The country report identifies the top 20 products most frequently traded in a target market. The National Trade Data Bank, maintained by the U.S. Department of Commerce, also contains valuable market information.
From your list of possible markets, you will want to determine which offers the best prospects. You should examine the markets in greater detail, looking at how your product quality and price compares with that of goods already available. Also, you should determine who your major customers are.
With this information, you can pick one or two export markets to explore initially. You can add more markets later, as your export skills develop. Now you are ready to conduct more in-depth market research on this target market(s), just as you did before establishing your business.
Quote
Things may come to those who wait. But only the things left by those who hustle.
Abraham Lincoln
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