The Key To Earning A Full Time Income With A Home Based Business

This may surprise you, but the key to earning a full time income with a home based business is you. You are the key to your success (or failure) in this industry. In this article I’m going to explain to you what this means and how it has led up to my success in the home business industry.

When I first started in this industry, I was like the other 98% of people that fail. I was looking to make money the fastest way possible, without willing to do any work. This may not be you, but the majority of people in this industry just go from opportunity to opportunity looking for some magic button that’s going to make them successful and earn them tons of money.

I spent over seven thousands dollars (you read that right) my first year in the home based business industry jumping from one opportunity to the next. I would try something out for a week or two and if I didn’t start making money, I would blame the opportunity or program and quit. Once I realized what I’m sharing with you here today, only then did I start to see success in this industry.

I wasn’t failing because the programs I was in sucked. I was failing because I lacked the desire and willingness to put forth the effort necessary to succeed. That’s the key to earning a full time income with any home based business. Whether or not you have a genuine desire to become financially free and how hard you are willing to work to get it.

There are plenty of good, legitimate opportunities on there, but you will not be successful with any of them unless you are willing to put forth the time and effort necessary. I found the right opportunity for me, and I went into it with the attitude that I was going to do whatever it took to be successful. I was going to be patient and never give up.

I have been working from home ever since. 10% of earning a full time income with a home based business is finding the right opportunity. The other 90% is whether or not you have the desire to be successful and the willingness to take consistent action towards your success.

The Cons of Indian Education System

There was an interesting discussion on CNBC TV recently about whether the education system in India is better than the US. We have covered the pros of the Indian education system in the previous article. Now, we will discuss its cons or areas of improvement.

Areas of improvement
Most of the students in India find themselves in technical schools & colleges without their interest and passion for the subject. The result is— inefficient and dissatisfied employees. India has a literacy rate of 66%, and the budget of Indian education system is nearly Rs.1 lakh crore (US$17 billion). Indian education system is also considered to be one of the oldest in the world. Nalanda University, which was founded in the fifth century A.D., was the first university to be established anywhere in the world. Currently, Indian education system is offering the world the finest technocrats, educationists and entrepreneurs.

The statistics
There are around 3400 engineering colleges in India, which are approved by the AICTE, the regulatory body in India. The total seats available in these colleges are more than 1.1 million. Out of these engineering colleges, 65% are in the Southern India and 35% in the North. Similarly, there are around 350 medical colleges imparting MBBS degree course. Out of these 350 colleges, 160 are government colleges, and the rest are private. The total seats available in these courses are around 65,000. So, engineering, medicine, education, science, law and management are the most sought after careers in India.

Basic flaws of the system
In a random survey, it was found that most of the boys were interested in a career in engineering, whereas most of the girls wanted to become a doctor post their 10+2 graduation. It was also observed that for most of the Indian students, the choice of a career is largely influenced by parents. Young students are discouraged from going for their own chosen professions. Most of the Indians feel that the present Indian education system is gifted to them by the British, and its aim was to churn out more and more qualified servants for the British Empire.

It is a well known fact that Indian education system has serious flaws in it. There is a serious lack of functional literacy. Lack of scope for creativity is another serious flaw. Most of the curricula are based on textbook knowledge with little focus on the field. So, it is more of academics with no serious practical exposure. There are disparities in various streams. Vocational streams are always looked down upon in Indian education system and there are only three or four career options available for everyone. If you want to take up a career of your choice, you will have to rebel against your parents and society.

Old fashioned and traditional methods
Indian education system is still struggling with the chalk and talk style of teaching. Multimedia, technology and computers are not fully integrated into the education system. Another serious flaw of the system is the lack of world-class research facilities. If you don’t follow the outdated curriculum and research, you’re out of the system. This system also encourages private tuition, because of heavy emphasis on bookish knowledge and it is despite the fact that students spend around 7 to 8 hours studying in schools. It increases the tendency to mug up theory and discourages creativity and curiosity.

Lack of creativity
Most of the students are force-fed with theoretical knowledge. But, when we look at the most successful people in the world, these were the people who followed their passion at a young age. IITs are considered to be the most reputed technical schools in India, but unfortunately people go there as part of a rate race and for a better financial future rather than for some “real technical pursuit”. Even the best minds in India do not have a future plan!

Conclusion
The first step towards improving Indian education system, is to integrate technology into it as it is considered to be the best way to impart education nowadays. Teachers should be trained to use technology in the classroom. Efficient counseling should happen at high school level, so that students can take the right decision about their careers. They should be presented with all the options and streams that are available to them. Practical approach should be introduced in the classrooms as Prof. Walter Lewin did in the MIT, while teaching physics, in order to produce world-class students. Sports and extracurricular activities should also be encouraged at the school level. Parents should stop the tendency to impose a career on their children. Rather, it should be left to the students to decide what they want to choose as a career.

Effective Marketing Strategies in Product Creation

Marketing includes matters such as pricing and packaging of the product and creation of demand by advertising and sales campaigns. There are other options, of course, like product creation, resale rights marketing, joint ventures and the likes, but they are merely secondary to the above.

If you take the freelance route, it is important to ensure that all rights to profit from the final product, or any materials produced in its making, remain yours. Bookkeeping, physical product creation or delivery of goods can be done better with specialized help. Determining the purpose of the product is vital in niche product creation.

Implementation of Methodology – The choice of implementation of Six Sigma methodology depends on whether development is required on existing processes (DMAIC) or on new process/product design creation (DMADV). Determining what you really want to sell, something that you can be relaxed selling is the first step at the creation of a niche product. With the technological advancements in the hosting industry, from automated control panels and scripts that simplify creation of accounts; to complete turnkey solutions, there is no excessive need to worry about spending time on the actual product sold to the customer.

For instance, you should be prepared to either perform yourself or to subcontract the completion of the following tasks:- Product idea research (are there any existing products or patents already existing for this idea)- Product specification document training (what it will do, how it will look, how will it be powered, and how the user will interface with it)- Marketing study (what it will be named, who would buy this, how much would they pay, how will we get customers to purchase the product)- Schematic or electronic circuit design process- Creation of a bill of material or BOM and an approved vendor’s list or AVL for each component in the design, preferably with multiple sources identified, with a BOM and AVL for each assembly level in the product- Printed circuit board layout design process (single sided board, double sided board, or multilayer board; size of the PCB; board material)- Mechanical packaging design with user interfaces (displays, buttons, switches, key. This removes all product creation costs from your budget as a marketer.

No other database of affiliate programs offers such a possibility for profit on either the affiliate side or the product creation site. Your chosen niche should allow for the creation of more than one product or service.

There are several marketing strategies that are necessary in the creation of a successful e-commerce web site – Email marketing (broadcasting) of prospects/customers – Effective use of auto responders (generate automatic email messages) – Online Newsletter – Online Form / Survey to capture your prospect’s email address – Electronic Product Delivery (if you sold a digital product) – Advertisement (Ad) Tracking – Back End Sales – Affiliate program etc.