Thursday, December 20, 2007

Knowing Your Business

Being a work-at-home-mom means knowing your competition and knowing how many people are talking about you. Why? I think it is the only way to keep your business afloat. Think about how Kmart, Wal-Mart and all those other stores compete with each other, they have to know what the other is doing in order to compete. If they kept their prices low they would never make any money, sure people would come in to buy but eventually they'd lose out. However, when they are competing with another store all they need to do is go up in down on the prices.

Wal-Mart and Kmart both have similiar products if not the same. Right? They may not have a sale on the same item at the same time but many times they'll say if you find it somewhere else cheaper we'll match prices. So, they are still competing even then, they are hoping to keep their true costumers.

Now with watching your stats online you can do this. If you are a scrapbooker check out what other scrapbookers are selling and come up with something. Either a new design or a sale on them. Figure out what is selling well, holidays are a great time to get in on this. Right now you could easily sell Christmas and New Years scrapbooking supplies and make quite a bit of money. Just about anything that is homemade will sell during this time of year.

Type in scrapbooking and find out what it is being talked about on the subject. Join some discussion groups and get a feel for it. This is sure to help you out with your business. (for those that may not realize this will work with just about any home business you've got, even real estate)

I know you are probably thinking why do I need to know who's talking about me. You may even wonder how to find out. First, you need to know if someone is talking about you because it can hurt or benefit your business. See, if someone is praising you you can head over to their site and thank them. A bad review means you can possibly make things right, but at least you'll know where it is coming from. At the bottom of this page I'll link you to a youtube video that'll explain it all. Hope you enjoyed and walk away with a little bit of knowledge.


Martice said...

Thanks very useful.