February 15, 2019

Personal Wealth

Scores of people are pointing towards internet marketing as a great way of making a profitable income. Those looking for a job from home may wish to explore the many different options available through internet marketing strategies. The sheer variety of working from home jobs will definitely boost one’s potential for success. There are opportunities for informational marketing, affiliate marketing, and various other advertising based ventures that can provide the basis for a reliable home business. Consider these facts to be a huge plus when weighing options to work from the comfort of your own home.

Now, it is most definitely true that there is much comfort in having a job from home. However, comfort alone is not the only benefit to such a process. There is also the issue of financial security that needs to be weighed. What is meant by financial security? Well, when you are exploring working from home jobs, you do not just want to look at the benefits of the convenience. You also want to look towards the huge profits that may be potentially gained from being in charge of your own financial ventures. This is certainly better than having someone else in charge of your earnings and, quite honestly, your life!

Do you think this is overstated? Not really because you are often in charge of how much work you do. If you wish to pick things up and work as hard as you want, you can do so. This will lead to a greater chance of earning revenues since you will be working very hard at such a goal. The decision to work harder or put more effort into your business will be based on your decisions and your decisions alone. You might not have such an option on a traditional job. Have you ever spoken to a supervisor about overtime and been turned down? Have you ever come up short on being selected for a promotion when you really could have used the money? When you have a job from home, you need not have to fear such a problem. You are the primary decision maker and that means you will chart out the path required to achieve the profits you wish. You are always better served when you are in charge of your own destiny. Having a job from home can certainly allow you to succeed in this regard.

Some may say money is not everything and that may well be true. However, it is also true to state that amassing a great deal of personal wealth puts you in a much better financial position than you would be without having such assets. By earning your wealth from a job from home, you have the potential to amass even greater wealth than you would be without working from home.

No one likes to be under the thumb of others. Launching an internet marketing job from home that boosts your profit potential can help you be as independent as possible. Consider this a major reason to look towards those opportunities that are out there and available to you.

Craftsmaking – How To Price For Profit

If you are thinking of selling the crafts that you make, one of the most important decisions you can make will be how much to charge for your items. If you do not price your items correctly, you will either have no sales if an item is priced too high, or you will go out of business if items are priced too low for you to profit. While there are many formulas out there to figure pricing, they all rely on certain common elements.

First, know your market. If the items you make are priced higher than what people normally buy in your area, either you need to have a lower price, or sell in the market that will support your prices. Trying to sell high end jewelry pieces at a flea market won’t work, but finding a specialty boutique or juried fine arts show will. Once you have decided who your target market is and what they are willing to pay, then you can start working your numbers.

Make a list of all your expenses related to creating your crafts. This includes materials, labor, overheads and profit. When calculating costs for materials, this includes everything from glue, thread, markers, etc. Don’t forget to include the shipping costs for those materials if you have to order them through the mail. Calculate how much the material costs for each piece to produce, this gives you the raw item price.

Calculating labor is a bit more personal. How many items can you produce in one hour’s time? How much do you want to be paid per hour? If, for example, you can produce five of your items in one hour and you want to earn $10 an hour, then your labor cost on each item would be $2. Obviously, this amount will vary depending on how many items you can produce in an hour and how much you want to be paid. Add this amount to your materials cost per item.

Overhead is tricky. While most crafters work at home, don’t think that you do not have overhead costs. There is the space taken up in your house for your work, the pens, paper, phone, electricity, etc. that gets used during your business process is all counted towards overhead. The easiest way to do this is to keep good receipts and open a separate checking account for purchasing anything for your business. For utilities, take an average household bill (such as electric) and divide the total amount by the percentage of square footage your business takes up in the house. Once you have this total number, you can divide it into a daily or hourly number to make calculations easier. Add this figure to the labor and materials.

Profit is one of those things that people either tack onto the labor calculation or do separately. It depends on whether you have someone helping you make the items or not. Profit is really the number that you want above and beyond the cost of the item to make. So, if you want an extra one dollar of profit on each item above your labor, then add that amount to the cost of each item. If the cost of making your items puts your retail price lower than area averages, you can add profit on and raise the price, still keeping it in line with average pricing.

Once you add these four items together, this is the price you want to sell your item for. As you can see, the profit number is what you can adjust to keep your item price in line with your market.

What if your numbers make the item too expensive for your market? The first thing to look at is the cost for materials. This may mean finding new sources for your materials, or buying in bulk to bring the costs down. Don’t forget to look at the internet for your supplies; you can often find great prices on materials that way. You could also lower your profit down, or possibly your labor – although these are last choices to make.