Category Archives: Home Business

Insurance for Your Home-Based Business

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If you’re an entrepreneur with a home-based business, you may have considered getting business insurance. Well, hesitate no longer. The question is not whether or not to get insurance, but what type of insurance to get.

You definitely need insurance for your home-based business.

Just because you can run your business in your pajamas doesn’t mean it’s not a real business. So, it needs to be insured just like any brick and mortar establishment.

Your homeowner’s policy carries little or no coverage for a business and some insurance companies may even invalidate your policy if you file a business-related claim.

As a result you’ll have no coverage for:

Buildings used for business purposes
Loss or damage to business records or data
Loss of income that results from a business shutdown caused by physical loss to business property.


Why Do You Need Insurance for Your Home-Based Business?

Consider the following:

1) You run a consulting business from home, as an IT professional. If your home is robbed and all your expensive computer equipment is stolen, you may find that it’s not fully covered under your homeowners’ insurance because it is considered business property.

2) A business delivery person is leaving your home-based architect office and slips on some wet steps and sustains injuries. Your policy might not pay for these injuries because your insurance doesn’t cover business deliveries or any third-party injury claims.

3) If you run a landscaping business out of a building adjacent to your home and it catches fire and burns your equipment, you’re mistaken to think your homeowner’s policy covers such an incident.

4) As an accountant, you advise a client on a financial matter that ends up costing her money. As a result, she files a lawsuit. A homeowner’s policy won’t come close to touching that.

These are only a few reasons to purchase home-based business insurance.

Neither homeowners’ nor renters’ insurance policies cover home-based businesses.


The many types of business insurance include:

Business property insurance which covers any kind of equipment used to operate your business including your computer, printer, fax machine, furniture, etc.

Liability insurance that protects you and your business from being liable for damages caused to another person or property.

Product liability coverage to protect your business from damages to property or a person caused by a product you supplied, manufactured or designed.

Business automobile coverage which will provide coverage if you are in an accident while making pickups or deliveries, visiting clients or performing other business-related tasks. Your personal auto policy does not cover using your vehicle for business.


Here I have covered only a few types of insurance for your home-based business. There are many more for you to consider, depending on your particular business.

It is wise to work with an insurance professional who can furnish the details you need for the particular type of home-based business insurance that’s available for your business.

Based on the many potential business liabilities, you’re probably better off having at least a combination of a few policies, depending on your business needs. And that could be one less thing to keep you awake at night.


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How Does MLM Compare to Pyramid Schemes?

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by Rahimah Sultan






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If you’re considering a multilevel marketing (MLM) opportunity, be very cautious. MLM and pyramid schemes can be very similar.

How does MLM compare to pyramid schemes?


What is MLM?

Some people like the MLM business model. You have the opportunity to become involved in a system for supplying products to consumers. MLM associates have the support of a direct sales company so they don’t have to start a business from scratch. Some of the companies train you.

When you become a MLM distributor, associate, consultant, or whatever term the company uses, you make money, by selling products to other MLM participants who are not already a member, when you sign them up.

You earn money on your sales as well as a percentage of the sales of the new distributors you bring in. The people you bring in are your downline. Sometimes you get bonuses after reaching certain milestones like bringing in a certain number of new people or selling a certain amount of product. You can also win cash, trips, and automobiles.

MLM can be a legitimate business opportunity, but not always. MLM is legal in Canada and most of the United States, whereas pyramid schemes are not.


What is a pyramid scheme?

If you’re looking for a legitimate business opportunity, it can be very difficult to tell the difference between an MLM opportunity and a pyramid scheme.

A pyramid scheme also offers the opportunity to make money by signing up others and achieving certain levels.

Unlike MLM, a pyramid scheme exists solely to get your money and then use you to recruit other distributors.


Ask yourself the following questions before signing on:

Do you have to invest a large amount of money upfront to become a distributor? MLMs do not require large startup costs.

If you have to pay for inventory will the company buy back unsold product? Legitimate MLM companies offer 80% buyback.

Does the company offer actual products or services? MLM companies depend on an actual market for products and services. Don’t sign up if the company doesn’t seem to have any interest in consumer demand for its products.

Is the focus more on recruitment or products and services? Pyramid schemes focus on fast profits from signing up people and getting their money. If this seems to be the case, run.

How to Determine the Focus.

The pyramid scheme focuses on fast profits from signing people up and getting their money.
If the emphasis is on recruitment rather than on selling the product or service do not sign up.

Another trademark of the pyramid scheme is the offer of commissions for recruiting new members. This is what matters in a pyramid scheme, not the products or services being offered.


When you’re deciding on a business opportunity thoroughly check out the company. Get all the information you can on its products and operations.

Check out the business or marketing plan. Talk to others who have experience with the MLM company and its products. Determine if there are real products being sold and the quality of these products or services.

Check with the Better Business Bureau to see if there are any complaints against the company.

When attending recruitment meetings, listen very carefully for claims of you being able to make amazing amounts of money. That should set off the alarm bells for you.

Although being part of a successful multilevel marketing company can be both profitable and fun, unfortunately, some supposed MLM opportunities are just cons designed to flatten your wallet and trash your dream of running a business.

So, How Does MLM Compare to Pyramid Schemes? MLM is a legitimate business opportunity, whereas pyramid schemes are scams to take your money.


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How to Create a Responsive Email List

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By Rahimah Sultan





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How Do You Create a Responsive Email List?

Although creating and growing your subscriber list is not easy it’s not rocket science, and it’s absolutely necessary if you want to run successful email marketing campaigns that reach people who are truly interested in your business.


What Are Email Lists Used For?

Email marketing is still an extremely useful way of reaching customers, despite the popularity of social media channels.

Email marketing offers many ways for a business to generate leads in the sales process. You can use email to generate brand awareness and fans through regularly emailed newsletters announcing sales, recommending products and services, or sending cart abandonment reminders.


Where do Businesses Get Email Lists?

There are two main ways to get email lists:

1. Buy from a third-party source
2. Build your own from scratch


Buying an Email List

We’ve all received unsolicited emails promising $1 million to our bank account if we give them our account number. We should all know by now they’re not to be trusted.

Well, the same goes for people trying to sell you ready-made email lists. So, now you think you can get started immediately without spending time building your own lists. Sometimes you’re offered free lists.

Remember, “If something sounds too good to be true, it probably isn’t.”

You could be breaking the law, but most likely violating the CAN-SPAM act in the U.S. and GDPR in the EU for not getting expressed consent from the recipient before sending them email. And, you probably won’t get the results you’re looking for.

Put yourself in the other person’s place. What would you do if you receive an email from a company you’ve never heard of? You would probably delete it or mark it as spam. Either way, it’s a bad idea to send emails to someone who hasn’t requested to receive them from you.



Building Your Own List

To generate better leads and increase your conversion rate, you need to build and grow a list of people who have opted in to receive emails because they want to hear from you and have a genuine interest in your brand or offers.

You can also get more relevant information such as the products they like, their communication preferences, and demographic information other than name and location.


Now, how to create a responsive email list.


How do You Grow an Organic List?

To successfully grow an organic email list you need to:

1. Take Advantage of Your Own Network

You can take advantage of your own network by thinking of at least 10 people who would be interested in receiving your newsletters. Send an email to these contacts asking permission to add them to your list. For compliance, you need to retain records of securing their permission.

You can optimize the homepage of your website, to make it easier for people to join, by adding an opt-in form. Be sure the form is simple and quick to fill out.

2. Optimize Subscription Forms

Create subscription forms to capture your signups’ details. This could be a popup, a static web form, or a landing page. If you want a good signup rate the design, copywriting, and position of these forms are crucial.

Initially, only ask for what you need. You can get information for segmentation later based on the user’s action and what they read or view on your website.

3. Incentivize Signup

People don’t give up their contact details for free. So, you need to offer them an incentive and provide value. For example, this could be an e-book, a webinar or a competition.

4. Add Share Buttons

Recommendation by others is a great way to grow your list. By putting share buttons at the bottom of your emails, people can easily send them to anyone they think would be interested, or share them on social media.

5. Use Paid Ads and Social Media

Your newsletters should only be one part of your marketing strategy. Use paid ads as well as social media channels to tie your business together to drive people to a signup form or landing page where you can get more customer details.

These people are highly valuable leads and subscribers, as they have already shown an interest in your company or offer.


How do You Manage and Use Your New Email List?

The point of building a list is not to collect as many email addresses as you can. You need to keep a clean list by deleting subscribers who are not opening your emails or clicking any links.

Do this about every six months or so. Doing so will decrease your email marketing service bill, and you’ll get better click-through and open rates.

Most email marketing software provides the necessary reporting and analytics functionality, so you don’t have to manually prune your list. The software helps you understand who is opening emails and engaging and who is inactive.

Once you have that information, you can try to re-engage these recipients by setting up a win-back campaign. If that doesn’t work, remove them from your list.

As you grow your list, you can start to create segments based on past interactions and demographic information. This allows you to send more relevant, personalized emails to help boost click and conversion rates.

Building an email list from scratch takes time and patience. There are no shortcuts. It’s all about quality over quantity. Having an email list of a few people who are interested in what you have to offer is better than a list of 1,000 who don’t care.

The hard work begins when someone subscribes to your list. This is why you need to send relevant content, personalize your emails, spend time perfecting the copywriting and design, and be useful and helpful.

You can use these tips on How to Create a Responsive Email List and get started now.


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4 Main Types of Email Marketing

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by Rahimah Sultan







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What is email marketing?

It’s basically self-explanatory. The Wikipedia definition is:

Email marketing is the act of sending a commercial message, typically to a group of people, using email. In its broadest sense, every email sent to a potential or current customer could be considered email marketing. It involves using email to send advertisements, request business, or solicit sales or donations. Wikipedia


Email is one of the most trusted communication channels available to marketers. You have to have an email address to perform many things online including online banking and opening a Facebook account, so just about everyone with internet access has a valid email address.


The most successful email marketing campaigns begin with a targeted email list of qualified leads who are interested in what you’re offering.


What are the types of email marketing?

There are many. In this article I shall discuss four main types of email marketing:

Welcome
Email Newsletters
Transactional Emails
Behavioral Emails


1. WELCOME EMAILS

Welcome emails are the first communication you’ll have with prospective customers. You need to nurture your contacts and give them a chance to get to know, like, and trust you.


Welcome emails should offer a personal touch and introduce you without a sales pitch. You need to build a relationship and work on giving a good first impression. They should illustrate your knowledge and expertise and pave the way for future contact.


2. EMAIL NEWSLETTERS

An email newsletter works well for B2B (Business to Business) communication. You can use it as a method to educate customers and prospects about your products, as well as showcase employee profiles, company projects, and relevant graphics. Hubspot is a good marketing CRM (customer relations management) tool that’s free and you can upgrade later to grow your business. (I get no fee for this. It’s just a suggestion.)


When creating an email newsletter You should consider a variety of factors including:

Content length
Type of information
Placement of images and text
Design
CTA (Call to Action)


As you work on your newsletter layout and content creation, remember your goal and be sure you’re working toward it by prioritizing the design and positioning of calls-to-action.


The advantages of email newsletters are:

Creating Brand Awareness: A newsletter, like a newspaper, creates a certain anticipation in readers. They get into the habit of receiving it, so make sure you’re sending it at regular intervals, be it daily or weekly, thus building a habit in your email subscribers which allows them to recognize your brand and associate it with a positive experience.


Repurposing Content: A newsletter usually contains already published information. You can do quick summaries of your most popular blog posts and link to the articles from your newsletter. This will bring your subscribers back to the company website and connect them with more company content.


Diversification of Content: You can use an email newsletter to include different kinds of content important to your business or organization. That can be popular blog posts, new offers, upcoming events, discounts, etc.


3. TRANSACTIONAL EMAILS

Transactional emails are usually initiated by a prospect or customer interaction with a website or an app. For example, password resets delivery information and receipts, email receipts, invoices, billing statements, and order confirmations.


Transactional emails are used to enable a transaction already agreed upon by a customer and shouldn’t market or promote any product or service or generate additional revenue.


Usually, transactional emails don’t require permission, whereas you MUST get customer consent to send marketing emails. And, with marketing emails, there must always be an unsubscribe option for the customer.


Be sure you’re compliant with email sending laws in all the countries in which you do business.


4. BEHAVIORAL EMAILS

Behavioral emails are automated emails sent to people who have given their permission to have emails sent to them that may contain advertising materials, offers, company digests, invitations to events, video reviews, and other content.


These emails are sent after a user interacts with a business on social media, the company’s website, email, and other channels. They help increase customer engagement and sales. With behavioral email, site visitors receive different types of emails, depending on their specific actions.


Email marketing principles are the same for anyone, not just big businesses.

Almost everyone who has Internet access has at least one active email address.

Email marketing gives you the opportunity to build personal relationships with your audience.

Email makes it easy to combine all your marketing campaigns.


Email marketing is easy to manage, gives you full control, and allows you to establish a direct contact with your customers.


Although there are more, these four main types of email marketing will help you with your marketing strategy.


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Affiliate Marketing Programs of 2020

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by Rahimah Sultan







I’m sure that when you join affiliate programs your primary goal is to make lots of commissions by recommending products.


There are affiliate programs in many categories like web hosting, website builders, fitness, sports, music and many more.


If you don’t have a website, you can set up one with WordPress.


In his article, 105 Best Affiliate Programs of 2020, Adam Enfroy covers the best high-paying affiliate programs of 2020 for beginners.



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MLM: Is It Legitimate?

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by Rahimah Sultan









Multi-level marketing is called many things: network marketing (most common), direct sales, affiliate marketing, referral marketing, dual-level marketing, consumer-direct marketing, home-based business franchising, home-based business opportunity, and inline marketing.

But, using one of these terms to define a business DOES NOT automatically make it an MLM.

Multi-level marketing companies basically promise a chance to leave your 9-5 job, be your own boss, make lots of money and to make new friends in the process. The ongoing debate is whether these companies and programs are legitimate business opportunities.

According to Wikipedia Multi-level marketing (MLM) is a marketing strategy in which the sales force is compensated not only for sales they generate, but also for the sales of the other salespeople that they recruit. This recruited sales force is referred to as the participant’s “downline”, and can provide multiple levels of compensation. Most commonly, the salespeople are expected to sell products directly to consumers by means of relationship referrals and word of mouth marketing. Some people use direct selling as a synonym for MLM, although MLM is only one type of direct selling.

So, due diligence is required before joining any of these programs.

Here is a great article on MLM.

This post includes an updated 2020 list of the top MLM companies in the US and international ones.


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Online Marketing: Get Your Business Online

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by Rahimah Sultan





The obvious purpose of internet marketing is to sell goods, services or advertising over the internet, although that’s not the only purpose. A company may be marketing online to communicate a message about itself or to conduct research.

Basically, internet marketing refers to the strategies that are used to market a product or service online.

You need to be online in order to help potential customers and clients find your business.

The importance of online marketing is put forward in this article titled What Is Internet Marketing? by Susan Ward.






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Home-Based Business Options

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by Rahimah Sultan






At this point you may be considering working from home to supplement your income or you may already have a hobby or a side business.

Before starting make sure you have the right tools in place – the main one being a fast Internet connection.

Working from home can be fun if you choose the right opportunity. Following are some home-based business options to help you make a decision.

Uber Driver

You are required to have a valid in-state driver’s license and auto insurance, and you must pass a background check. Click here for details.

Survey Taker and More

Filling out simple surveys online can be one of the easiest ways to make money. Although it can be easy income, you must be patient as it can take some time. If you sign up for several, you can expect a variety of work and increase your chances of making real money.

By googling “best survey sites” you’ll get a list from which you can choose. Among these are:

InboxDollars
Swagbucks
Global Test Market and many more

Bookkeeper

Bookkeeping is great for trained accountants and you don’t have to be certified. You just have to have the knowledge that you can get from courses.

Doula

A doula is someone who provides emotional and physical support during your pregnancy and childbirth. Doulas are not medical professionals.

Copywriter

Copywriters usually have degrees in one of four fields; advertising, marketing, English or communication. However, you can do the job without one of these degrees if you’re a great writer.

Marketing Consultant

As a marketing consultant you can help a business with traditional marketing materials as well as blogging and social media.

Some other home-based business options include hobbies.You can turn your hobby into a money-making venture. If you like writing you can blog or become an EBook author.

Sell your workshop products, and market your sewing, gardening, electronic repairs.

Services

At-home day care is a good fit for stay-at-home parents. Make sure you comply with your local regulations.

Elder care, lawn care, dog walker, meal planner, party planner, resume writer, tutoring, and music teacher are just a few of many.

More entrepreneurial opportunities open up as technology develops.

If you like the idea of no commuting for a job and none of the traditional work system, use your ingenuity and start a home business doing what you like. These home-based business options can help you get started.



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Business Success With Social Media Marketing

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by Rahimah Sultan







These days it seems that everyone is on social media. As an entrepreneur launching your own business, you are your own CEO, PR team, and social media squad. Obtaining business success with social media marketing is the market trend and a must for newcomers to online business.



New entrepreneurs need to pay attention to 6 things:

Authenticity
Finding Your Niche
Being Consistent Across all Platforms
Getting Offline and Meeting People
Content
Facebook and Google Ads


Jason Pinchoff discusses these in his article The Pinch List: Top 6 Social Media Musts, which you can read here.


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