Can Any Niche Be Profitable?

Not all niches are alike. Some are more profitable than others. Some groups are more “window shoppers” than “buyers”. You need to look at your audience and see if they’re willing (and able) to spend money for the solutions they’re seeking. As an example, targeting golfers is going to be profitable than some because in general golfers have deep pockets because the game of golf in itself is expensive. They’re also rabid fans of the game who would do anything to improve their score or beat their competitors on the links.

But another niche, such as single moms on a budget may not be willing to pay $67 for an information product showing them how to get organized. Sometimes it depends on the solution itself. Targeting this same niche of single moms, you may find some are willing to pay $47 for an eBook that shows them how to make more money working from home than they do in their regular 9-5 jobs. One good place to start is with online groups and forums. You can go to iVillage or Yahoo and see what kind of groups garner the most posts. Men’s groups such as AskMen might give you insight into what kind of information products this portion of the population might need that help you generate a handsome profit.

A Good Target Niche Has Lots of Problems

You’re not just looking for a broad group of people to cater to – you’re looking for those with a lot of problems. When you start creating your information products, you’ll want to build an empire of products that all focus on the same niche, allowing you to market to existing, loyal customers who buy from you time and time again. Sometimes, you’ll find one large niche and then realize you need to build your information product line around a more targeted, narrow niche of people. For instance, parents in general have many problems you could address, such as raising smart kids, dealing with discipline, and saving money. But you can then narrow that niche to moms or dad and dig deeper by focusing on parents of multiples or parents raising kids with physical ailments. Just remember that an information product is not really a product at all – it’s a solution, so it needs to be marketed as something that will improve the lives of others, not just yours!

Some information comes in the form of free content on websites, or through emails getting passed from one person to the next.  But if you want to profit selling information on the internet, then you’ll want to position yourself as a virtual expert in your niche and capitalize on the problems of others where you provide a solution to their needs.

Some people profit selling information online in eBook form.  Others sell personalized consultations for thousands of dollars.  Some have made their living writing valuable content and giving it away with hyperlinks that take the reader to an information product they can buy, giving the author of the freebie a cut of the profits.

 The key to profiting from the sale of information online is to build trust with your audience.  Unfortunately, when a customer stops by your website, you can’t shake their hand and smile while you convince them to upgrade their purchase.  But you can write compelling sales copy that shatters their doubts and fears and convinces them to trust you.

At that point in the transaction, if you want to build a business selling information online as part of your long-term income strategy, then you’ll want to make sure that what you deliver goes above and beyond their expectations so that they’ll continue buying from you in the future.

Some people wonder what the potential is to profit from selling information online.  The answer is simple – there are no limits, no ceilings, and no barrier between you and your success.

 You can launch information products for sale online for next to nothing.  You can do it on a 100% free option if you promoted it through a free Wordpress blog using article directories and sig files with PayPal as your paying option, or you can take a more legitimate approach and use fee-based tools like your own domain, a shopping cart set up through ClickBank, and strategic banner ad placement.

 If you want to know how to profit selling information products online, then you need to look at the successful marketers who have paved the way for you, people like Tiffany Dow, Rosalind Gardner, and Darren Rowse.  Learn about list building, social networking, and testing your efforts for good measure.  There are unlimited opportunities for people who want to market info products online, and a constant influx of hungry buyers permeating the marketplace in search of solutions to their own needs.

What is Residual Income?

For the purposes of a stay at home mom, residual income is income that continues to flow in even after the initial act that produces the sale is over. For example, imagine making a sale of a handbag. The initial purchase of the handbag is the initial act that produces the sale or income. However, if the person who purchased your handbag paid you a fee each month in order to be able to continue to carry the handbag – that would be residual income. You didn’t have to do anything else, you didn’t have to make another handbag, you didn’t have to sell another handbag, the money simply continues to come in. That is the beauty of residual income.

Why Residual Income is Great for Stay At Home Moms

The reason residual income is so great for stay at home moms, besides the fact of getting paid without having to do the work again (I’ mean who can argue with that?) is that residual income frees up more of your time to spend with your kids, and in reality, that should be the reason you want to work from home. Not that the whole “never have to wear pantyhose again” thing isn’t motivating, but really, it’s all about the kids here.

Real Life Residual Income Ideas for Stay At Home Moms

While the handbag example is clear, it really won’t happen much in real life. So what are some real examples of residual income?
Many multi-level marketing plans have residual income. Most MLM’s have a minimum monthly purchase or sales commitment for their associates, this means that once someone has decided to join the company as a customer or associate, that each month you will be paid a commission on their purchase, you don’t have to go out each month to get an order from them (although regular contact with your customers/associates is definately a good thing.) Also, the insurance industry is a good example of residual income. Once a person purchases the insurance policy, the agent receives income every month that the person pays their premiums.

Other residual income ideas besides MLM would be:

• Service agreements for web services (you design their website, and then for a monthly fee, you agree to check and update the website up to a certain number of changes.)
• Whatever of the month clubs – if you make soap or other products, a residual idea would be to create a “soap of the month” club where if your customers agree to automatically purchase a new soap each month (usually at a small discount) then you don’t have to attempt to make new sales each month, simply send them their monthly product and collect their payment accordingly. (More closely related to passive income than residual since you still have to create the new product – more on passive income later)
• Writing books or e-books – the residual effect of the book is that once you do the activity (write the book), then everytime one of your books sell, you receive income from that sale.

The beauty of residual income is it helps to multiply your efforts. Let’s say you need 10 buying customers to cover your expenses. With residual income the first month you go out and find 10 customers. The next month, you go out and find 10 more customers, plus the first 10 customers are still purchasing from you through the residual method, so you now have 20 customers. So for the same amount of effort you now have 20 customers. WIthout residual income, you would have to do twice as much work for 20 customers as you would for 10 customers.

Residual income will help you to limit the time you spend on your business without limiting your income. There are ways to generate residual income with just about any home business or industry, just start thinking about ways to add value to the product or service you already provide!

Need help? Just ask!

Podcasts are easy to distribute, and listeners can access them almost effortlessly.  But there is a lot that goes on behind the scenes of podcasts that most people do not realize.  It’s not unlike a radio or television program, with its scripting, lining up of guests, editing, and technical aspects.  Podcasters often need help getting everything done, and they can get that help from an intern.

A podcasting internship is a win-win situation.  The intern gets to learn about the various aspects of producing a podcast.  The podcaster gets an extra hand, allowing him to get more done in less time.  It will take some time to provide the intern’s initial training, but after that things should go fairly smoothly.

What Can a Podcasting Intern Do?

Podcasting interns can handle many tasks with little training.  Some things you could get your intern to do include:

* Research – Any program that provides information will require some research to be done.  Your intern can research your topics and get the facts straight for you.  He can also work on coming up with potential topics for the podcast.

* Lining up Guests – Guests are one of the most exciting parts of a podcast.  The most successful podcasts feature guests regularly, but lining them up can be something of a chore.  It’s not at all uncommon to end up playing phone tag, and that can take up a lot of precious time.  Your intern can take care of this for you, freeing up your time so you can do other things.

* Script writing – You might be apprehensive about letting an intern write scripts, but it can be good for your podcast.  Fresh ideas are a good thing.  You don’t have to let your intern write the entire script if you don’t want to.  Simply letting him work on a particular segment can give you a feel for his writing abilities.  If it goes well, you can give him more writing work to do.

* Technical work – Interns with education or experience in technical pursuits can help with the technical aspects of your podcast.  Even those who have not done such things before can do simple things such as making adjustments to the audio.  You could also show your intern how to use your editing software and let him try his hand at that.

Interns can do a lot of things to help with your podcast.  They are less expensive than hiring an employee or contractor, and they can perform some tasks with very little training.  So if you need a hand with your podcast, consider getting an intern.

Aspiring administrative professionals can benefit tremendously by being an intern for a virtual assistant.  VAs can often use an extra hand to get everything done, and their interns can learn many things by working with them.  Here are five things interns can learn through a virtual assistant internship:

1.  Multitasking – Being a virtual assistant is practically synonymous with multitasking!  Each client usually has several things that they want their VA to do, and most VAs have more than one client.  So prioritizing tasks and working on several things simultaneously is something that the virtual assistant excels at.

An intern can learn a lot about multitasking just by watching a VA.  And once the intern has started performing some of the tasks, he can apply what he has seen to what he is doing.  By the time the internship is over, he will probably be well versed in getting things done.

2.  Customer Service – Good customer service is important to every virtual assistant.  They apply it to their dealings with clients, and they might even handle customer service for those clients.  So in order to be successful, a VA must know how to treat customers.  She can pass this mindset on to her intern.

3.  Webmastering – Virtual assistants are often proficient in basic web design and coding.  They may design entire sites for their clients, or they may update existing sites.  These are useful skills for anyone who does business online.  The VA can teach her intern the basics while she is working with him.

4.  Marketing – This is another thing that VAs can do for themselves and for clients.  They must constantly market their own services in order to find work, and they often handle various marketing functions for their clients.  Most do the bulk of their marketing online, but some also handle offline promotions.  Any intern can benefit from learning about these things.

5.  Writing for the Web – Virtual assistants often write web content, blog posts, materials for email campaigns, and sales copy.  Each of these types of writing has its own unique characteristics.  The differences are subtle, but they do exist.  A VA can teach an intern how to write for each medium most effectively.

Whether they’re college students looking to gain experience or small business owners who want to learn new skills, interns can learn a lot from a VA.  The skills taught by a virtual assistant can not only help someone who wants to be a VA himself, they can also benefit those who want to work in an office or break into another related career.

There are lots of things you can hire an intern to do that will help you out and provide a learning experience for him at the same time.  Here are ten projects that are great for Internet marketing interns:

1.  Writing articles – Every Internet marketer needs articles for one reason or another.  You can place them on article submission sites, use them on your blog, include them in your newsletters, and do lots of other great things with them.  Writing articles also allows your intern to brush up on research and writing skills.

2.  Creating pages for Squidoo – Squidoo and similar sites are great for generating traffic to your website, but it might be hard to find the time to create a good page.  This is a great project for your intern to do.

3.  Finding reciprocal linking partners – Inbound links are a valuable commodity, and reciprocal linking can get you those links at no cost.  But it does take some time to find webmasters of relevant sites who will link to you.  Why not get your intern to do it?

4.  Running pay-per-click campaigns – Pay-per-click advertising can be an Internet marketer’s best friend, but keeping track of your campaigns can be very time consuming.  Interns can do this for you, and they can learn a lot about what does and doesn’t work in PPC in the process.

5.  Search engine optimization – SEO is one of the most important considerations in online marketing.  An intern who knows a fair amount about it can get hands-on experience by working on your site’s search engine optimization.

6.  Running email campaigns – From the nuts and bolts of setting up autoresponders to tracking results, there is much to be learned from an email campaign.  Letting your intern work on one will benefit both of you.

7.  Setting up shopping carts – A shopping cart is a key component of any Internet marketing site.  Allowing your intern to set up shopping carts on new sites will free up your time.

8.  Dealing with affiliates – Helping affiliates is great for Internet marketing interns.  It teaches them about customer service while letting them see how affiliate marketing works from your business’ standpoint.

9.  Podcasting – Letting an intern work on your podcast will give you time to tend to other matters.  It’s also a great way for interns to learn about podcasting and online audio.

10.  Promotion of special events – When you are planning a special event, it’s always nice to have an extra hand.  Your intern could handle the promotion aspect of it, freeing you up to do the planning.

It may sound strange, but it really makes a lot of sense if you think about it.  By definition, an intern is someone who works in a temporary position for the purpose of gaining skills and experience rather than making money.  It’s not so far-fetched for a budding entrepreneur to want to do that.

Small business owners sometimes seek out internship opportunities that focus on things that they want to learn more about for use in their businesses.  For example, an Internet marketer might want to add podcasting to his repertoire.  So he could look for an internship that would give him the opportunity to work on someone else’s podcast.  He could learn about the technical aspects of it and then apply it when creating his own podcasts.

Being an intern can help small business owners expand their offerings to clients.  For example, a web designer might want to offer more services to her clients.  So she might seek out an internship opportunity in copywriting.  Once she has gained some experience through the internship, she can apply what she has learned to writing and designing sales pages.

Internships can also help you network with others in related fields.  While this is not usually the primary purpose for becoming an intern, it is certainly a welcome bonus.  It could lead to joint ventures, partnerships, or referrals.  All of these things have the potential to grow your business and increase your earnings.

Finally, an internship can give you ideas about starting your own internship program.  Interns can really come in handy when you have large projects to work on, such as product launches or special events.  They can also help you get everyday tasks done so that you can concentrate on more lucrative pursuits.  By being an intern yourself, you can see things from the intern’s point of view while also taking note of how the company you’re interning for runs its program.  Both of these things can be a big help if you decide to take on interns of your own.

You don’t have to be trying to break into a new career to be an intern.  As a small business owner, being an intern can enhance what you’re already doing.  An internship does not have to take up a large amount of your time, so you can keep your business going while you’re participating.  If you can set aside just a few hours a week, you can benefit from being an intern.

The truth is, finding an internship might be easier than you think.  Many businesses, both large and small, have internship programs.  And those that haven’t set up such programs might be willing to consider one if approached about it.  Here are some ways you can find an internship:

* Go to businesses that you would be interested in interning for and ask if they would consider it.  They might or might not be interested, but it never hurts to ask.

* Ask friends and family to ask their employers if they would be interested in an intern.  The more people you have asking around for you, the better your chances of finding something.

* Use the classifieds.  Look through the “Help Wanted” section for internship positions, or place your own “Positions Wanted” ad.  And don’t forget about online classifieds.  Craigslist is a great place to look for internships and post your availability.  Online job boards are also good, especially if you’re looking for a virtual internship.

* Speaking of virtual internships, some Internet marketers offer internship programs via email or other online mediums.  A Google search for Internet marketing internships can help you find these, or you can visit your favorite Internet marketing blogs to see if their authors offer such programs.  This type of internship is great for aspiring marketers, virtual assistants, and other related occupations.

* Check with your local college to see if they can offer any help.  They might be willing to share internship positions that haven’t been filled by current students with you.  They may even have internship programs of their own that you can participate in.

* Go to a career fair.  These are often held at colleges and universities, or you might find one at your local Employment Commission.  Attending career fairs is an easy way to meet several potential internship providers in one place, but it’s important to be prepared.  Dress for success, and carefully write and memorize a powerful introduction for yourself.

An internship can help you break into the career that you want, or it can take your existing career to the next level.  Finding internship opportunities will take some work, but there are more out there than most people realize.  The trick is to use every resource available to you.  If you look hard enough, chances are you will find a company that is willing to take you on as an intern.

One way to gain experience is to offer your services as an intern.  Internships are often unpaid, but they can help jump-start your career.  They can make you a much more attractive option for employers once complete.  And that translates into more money in the long run, because you will be able to get a better position and get started moving up the career ladder sooner.

How an Internship Can Boost Your Business

Completing an internship can expose you to a number of things that can help you get your career moving forward.  These include the following:

* You get verifiable work experience.  Instead of having nothing but your education and some random jobs on your resume, you can list real world experience in your field.  This can prevent your resume from ending up in the trash shortly after it has been opened.

* You learn skills that you can use in future positions.  Experience is great, but if you do not learn anything from it, it won’t get you very far.  Good internships are designed to teach the intern the basics of the business while giving them real hands-on work to apply those lessons to.  By the time the internship is over, you should be able to confidently say that you can perform a number of tasks that are relevant to your career choice.

* You make connections with others in your field.  Employees at the business you intern for are a great source of references.  They may also be able to help connect you with potential employers.  By taking the time to make meaningful connections, you can benefit your career greatly.

* You learn industry jargon.  Knowing the terminology used in your career field can give you an edge during job interviews.  So pay attention to the words that employees are throwing around, and if you don’t know what something means, do not be afraid to ask.

Becoming an intern won’t make you rich, but it can get you on the road to the career you’ve been dreaming of.  Relevant experience is one of the key things employers look for in a job candidate, and an internship can give you that.  But it can give you much more than just an extra line on your resume.  It can give you the connections and knowledge you need to succeed.

Hiring an intern is a great way to grow your business as a virtual assistant.  Here are some of the many reasons why:

Interns are inexpensive.

Internships are often unpaid, and if they do get paid the wages are less than a traditional employee.  That means that you can get the help you need at a fraction of the normal cost.  You will have to spend some time showing your intern the ropes, but if you hire one that is competent you will get more than enough of a return on your investment to make up for it.

Interns are eager to learn new things.

The main objectives of most interns are to learn new skills and gain experience.  Most are quite motivated, and they are happy to take on new challenges.  So you can throw just about anything at them, and as long as they’ve received adequate training, they will most likely run with it.

Having an intern around can give you the freedom to try new things.

By turning over tasks that you’re familiar with to an intern, you can work on things that you would like to learn more about.  Normally you might not have had the time to adjust to the learning curve, but with an intern working on things that you consider second nature, you might finally be able to get it figured out.

You could learn something from your intern.

Since virtual assistance is such a broad field, no one can master every possible aspect of it.  But if your intern has worked with programs or hardware that you’re not familiar with, he might be willing to share his knowledge with you.  And you never know when that might come in handy.

You can screen your interns to find people that you might want to work with in the future.

VAs often refer clients to one another when they do not possess the skill that someone is looking for, and a good intern might be a candidate for this type of exchange once the internship is over.  You might even find someone that you would like to hire as an employee.

A virtual assistant business is well suited to internships.  Both the VA and the intern can benefit tremendously from the arrangement.  A carefully selected intern could help you get your work done, but he could also add more to your business than you ever imagined.