Home Shopping Can Open Purses for Entrepreneurs

One marketing strategy is to consider introducing your product on a television-shopping channel, which gives entrepreneurs like you an opportunity to sell to a nationwide audience. About 80% of these shoppers are female-a primary target for your kitchen product. The Direct Marketing Association reports that shopping channels generated $5 billion in sales in 1996 and projects a growth rate of 10% per year.

Live shopping shows are a sales outlet that never closes, allowing customers to shop at any hour and purchase via telephone or computer. Shopping networks accept new products that have never sold before-if you can prove that your product will sell. It is critical to research your market carefully to determine that potential customers nationwide want your product and will buy it at a specified price. You must be able to convince the network that your product will sell, as they take a risk by purchasing your product and investing time and money producing your sales spot.

 

Remember to check out the competition. You may find that someone else tried unsuccessfully to sell a product similar to yours via electronic retailing/home shopping malls.

 

The trick is getting your product accepted by a live shopping show. Highly demonstrable products, which make one’s life easier and have mass appeal, are more likely to be selected, especially if you can show a dramatic before-and-after affect.

 

Television shopping malls select products based on quality, uniqueness, appeal, currency, and demonstration capabilities. Most have in-house quality-assurance programs that inspect each product and representative samples from each shipment. Since they provide a 30-day unconditional return policy, these malls must be certain that you manufacture only top-quality products.

 

If they are interested in your product, you will begin to negotiate sales terms on each order, including quantities, shipping or pickup dates, payment and credit terms, return policies, and so forth. The level of risk associated with your business and product along with your operating history, size, and other factors all come into play in how terms are negotiated.

 

Once your product is accepted, you must be ready to do business and have large quantities available for the network’s warehouse. Most complete orders ship within 24 hours of purchase, so the merchandise must be in the retailer’s warehouse and ready to ship immediately. Also, you must have enough capital to sell to the television network channel and wait for payment. There may be a significant delay after the time you sell your product until you are paid.

 

Networks bear the expense of preparing the spot for your product. Designers create attractive and eye-catching sets from which merchandise is displayed on the air. Program hosts give demonstrations. Spots typically run from 6 to 10 minutes.

 

One of the largest leading round the-clock television shopping channels is QVC. Call 888-NEW-ITEM and ask for a vendor kit to learn how to submit your product for consideration.

 

Another leading television shopping channel is Home Shopping Network. Its vendor kits contain prequalifying questions regarding what your product does, unique features and benefits, price, market-penetrating strategies, and why the network should purchase your product. For information and to receive a vendor kit, call 800-436-1010.

 

Television shopping networks are constantly looking for new and innovative products to sell. Product categories generally include electronics, cookware, jewelry, sports and exercise equipment, apparel, health and beauty products, books, videos, and music. Ask each about its vendor fairs and trade shows.

 

According to Leisure Trends Group Gallup Direct Television Study, 35% of viewers of live shopping shows purchase a product using a toll-free number, while 30% purchase a product seen on a live shopping show later at retail or through a catalog. These buyers are the most price sensitive of electronic retailing, with 17% saying they purchased because of a good price or a good deal, or because they liked the product.

 

Television shopping channels provide entrepreneurs who’d like to market their new products-immediately and on a limited budget- with an excellent opportunity to sell nationally. For a cohesive marketing strategy, it is important to use direct retailing in conjunction with other marketing efforts.

The Art of Working with Entrepreneurs

Entrepreneurship is a tough arena. The art of working with entrepreneurs is all the more tougher. However, each one of these experiences are worth sparing the risk on account of the benefits that ensue. In all these ventures, the success output is directly proportionate to the effort spared in setting up the tone. The main task here lies in coping up with the challenges and adapting oneself to the arising requirements. Entrepreneurship is a lifelong never ending process and does not stop with earning money or finding suitable partners and employees who would share your workload. Every entrepreneur must consistently pay diligent efforts as the price to reap rewards. There are some useful tips for successful entrepreneurship.

You need to set your attention on the prize. Successful entrepreneurs are aware that all flowering trees do not bear fruit. Therefore, they are not too much excited to see initial rewards. They never lose track of their pursuit towards their goal and do not take rest in the middle.

 

Entrepreneurs must always Study, Study, Study. The secret behind success is willingness to learn continuously throughout life. It is essential to keep pace with the changing trends to see that you maintain your success rate.

 

Dedicate enough of your time. Investing enough time on your cherished venture is more important than the investing money.

 

It is very important to always keep cool. A balanced and undisturbed state of mind reflects the ideas of the inner mind as clear as the surface of clear water. Every successful entrepreneur must have the necessary state of mind to turn challenges into opportunities and every hurdle as the rungs of the ladder to climb up the success mansion.

 

Ensuring a good health is very essential since health condition will invariably affect the capacity to perform. Never stress yourself too much beyond a certain limit to ensure that you are able to keep pace with the growth of your venture.

Alisha writes about how small business ideas could succeed. His articles are very well received by entrepreneur.

The Difference Between Employees and Entrepreneurs

The thought has probably crossed everybody’s mind at one point or another. How do I get rich quick? It is perhaps not very politically correct at the moment, but quite frankly, even in a global recession there are many people who continue to earn a substantial amount of money every. There are even some who are willing to share their secrets so that you too can become a millionaire – for a small fee of course. But really, this is what sets entrepreneurs apart and how they do it.

I meet lots of people, from students to new graduates to senior directors of companies to entrepreneurs. I have also been picking up on what people think they need to succeed or be wealthy. Bear in mind, there are also people pursuing altruistic endeavours for not-for-profit organisations and social enterprises. I will exclude from this discussion because they are driven by something other than a financial motivation. So that leaves the “get rich” crowd. Some hope to win the lottery, others want to meet a millionaire that will help finance their dreams. These opportunities could yield success, but they are difficult to get a hold of, requiring some luck or requiring a huge investment of time and resources developing a product or service, preparing a business plan, and most importantly bearing some risk. If you look carefully around you, however, there is another method that exposes you to less risk, yet can yield an infinite amount of returns.

 

The working world can be divided into three categories in its simplest sense – 1) those with a lot of money or capital or have access to a large market than can generate such capital; 2) those whose only resource at their immediate disposal is time and therefore must produce, provide a service, or in other words be employed; and 3) the brokers, people who forge relationships between those with good exposure to a market or capital and those that produce or provide a service and take commissions for those relationships. Many people are stuck in category #2, devoting all their time and energy working, but barely accumulating any significant level of wealth. They are trying to get to category #1, where you put your capital work, it earns a return, and you’re making money out of money. The key to getting from #2 to #1 is the category of brokers, middlemen, salespeople, and many entrepreneurs.

 

The trick to succeeding as a broker is to find a producer with good product or service, but who has limited access to market. The other part of the equation is having access to funders or knowing the groups with channels to market that need good products to sell. Does this still sound challenging and difficult? Well, some producers and service providers have been doing this successfully for years by creating their product or service, packaging it up, and putting it in a form that can be sold or marketed in high volumes – think about software producers, book writers, coaching seminars, and franchises to name a few. By doing this you start to move from #2 to #3. This is becoming even more prevalent with the use of technology, the world wide web, and social media. The opportunities are abound, now it’s up to you to find your target market, package up your product or service, and tell the world about it.