Thousands of people have lost their jobs due to the global economic meltdown. Can you imagine the kind of financial pressures that they are going through after losing their jobs? You might ever be one of these unfortunate individuals. If so, then you can understand why this has made many people start searching Google and Yahoo looking to reverse their misfortunes by seeking relief through home based business opportunities.A home based business can only be advantageous and profitable when you put your mind, heart and soul into it. It is very important to identify your own skills so that you can do full justice to the business that you are going to start. Find something that you love doing and that fits your skill level and create a business around those attributes. Doing so can create the magic necessary to yield profitable results. You will need to fully research your proposed business to make sure that there is a potential market for your service or product that you plan to sell. Only then can you really begin to make plans for your new business.What makes a home based business advantageous? Here are a few of the best reasons.1. Freedom – You do not have to report to a boss and you can choose to work in convenient home surrounding. You get to work the way you want, avoiding traffic and daily commuting etc.2. You can make more money – With home based business opportunities, you get the liberty to keep all the money that you earn, with the exception of paying for expenses and taxes. However, keep in mind that as a business owner, you can deduct your business expenses from your taxes. This is not the case with conventional jobs where you will need to wait for your next raise as a result of performance appraisal or salary hike and not every thing associated with your job is tax deductible.3. Low startup costs – Hard work will generally always give good results as long as it is couple with working smart. Hence if you work hard and stay focused, there is no reason for you not to succeed in your business. The capital investment in a home business office is much less than that compared to the costs of setting up a conventional office. With proper planning, you can get started and pursue your dreams for very little startup cash expenditures.4. Unlimited opportunities – When you run a business on your own, you can add additional profit centers to increase your profits, however, remember to conduct a thorough research analysis of each profit center before adding it into your business. Your success will not be hindered by what a normal job supervisor might think, therefore, you will be free to pursue any business opportunity that you want.5. New learning opportunities – When you run a business, you will need to keep updating your knowledge in order to be successful. Your life will never be monotonous like it used to be with your daily work routines in your previous job.6. Tax advantage – Having a home based business will give you an opportunity to save on taxes. You can use a part of your house as your office and claim it as a deduction on your taxes. Plus, as noted above, you can now deduct all of your business expenses from your taxes. However, you will be wise to consult with an Accountant about these issues.7. Creativity – You can let your creativity flow freely without anybody discouraging you. Furthermore, nobody can take the credit for your hard work, like in a normal job.8. Time with family and friends – You get to spend a lot more quality time with your family and friends if you have a home based business.9. You become a leader – When your business grows, you will need to form a team or hire employees. They will look up to you for your expert guidance, supervision and support.10. Professional growth – You get to learn new concepts and business management skills everyday in your business as you take on new responsibilities which you might not have had to do in your previous job.This list of home business ownership benefits is not all inclusive. There are many other benefits that are to numerous to mention in this short article. However, from just the few benefits mentioned above, we can clearly see some of the basic benefits of home based business opportunities.

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.

The niche you have chosen should allow creation of more than one product or service. 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 need to worry about spending time on the real products sold to the customer. The main ones are keyword selection, sales copy principles, graphics, affiliate programs, product creation, online payment processing, auto responders, and search engine optimization.

Once you’ve earned money from this type of information product business, you can invest in the creation of your own products if you want, or start offering more informational products that allow you to sell your knowledge. But the creation and production costs of a similar big ticket in sequence product, although higher, are still pretty low. A key by-product of this process will be the creation of 3-D, Computer Assisted Design art.

The Association for Financial Professionals permits the following activities for repatriating funds: Research and Development activities, advertising and marketing programs, hiring and training new recruits, acquiring patent and other rights to intangible property, improving transportation, funding capital investments with the purpose of job creation and job retention & funding product responsibility or environmental claims.

It prohibits certain activities like: Tax payments, Payment of executive recompense, Payment of dividends, Redemption of stocks, Debt investments and Portfolio investments. Therefore, before repatriating the money, you must consider whether it is worth or not.

Checklist on what artist and product development necessitate includes: Exceptional vocals, musicianship and/or songwriting skills, Continued education and enhancement of musical skills, Quality equipment, Performance ability, Image creation and maintenance, Plan of action, goal setting, excellent promotion materials including photographs, press releases and artwork, Business management skills, Marketing, Publicity and Promotion knowledge, Online and Offline Professional management, Basic knowledge of recording, producing, engineering, and mastering, Basic knowledge of manufacturing, distribution, and sales online, brick and mortar and air-play, Good choices in members, staff and advisors, Physical and mental preparedness, Basic knowledge of finances, accounting Law and legal issues etc.

The goals for doing so are for the product owner to: Communicate the whole, Determine and communicate when releases are needed, Determine what functionality is sufficient for each release & focus on business value derived from the releases. The delivery team on the other hand will see the whole, learn about the steps to realize the vision, learn the business priorities, provide technical input to the roadmap and provide estimates for the projected features. The salesperson must lead the prospect through the various decision criteria needed in order to secure a sale. Whether your idea is the development of a product, launch of a service business, or even the creation of an event or program for a non-profit, creativity is the root of all entrepreneurial efforts starting with the vision itself.

People quickly learn to spend their time on marketing and product creation, rather than repetitive tasks. Apart from empowering companies and individuals, there should be a particular focus on identifying labor intensive businesses that have the potential to make a significant and positive impact on employment creation as well as those businesses that have a product or service offering for export markets with the final objective of booming local economies.