Wednesday, April 29, 2009

If you have been involved in your own home based business, is your business already thriving and bringing you a steady source of income and prospects?

You may be having a stable source of revenue but what if you need more? What if you run out of ideas for new articles to write about?

In this article, you will learn 2 ways in which you can uncover new riches in your current online business - how you can increase your knowledge of the market and how you can increase your income.

Check Competition

Sun-tzu, in the Art of War, states "Keep your friends close, and keep your enemies closer" is a brilliant statement which you can apply in your home business.

You don't have to try to find brand new things to talk about - you just have to find out what your competition is doing which is making them money.

Once you have found something which they're doing and you are not - incorporate that strategy into your business! It can be as simple as checking out their web sites and viewing their past or new articles, products, et cetera.

By applying this, you get to shortcut the process of finding what the market needs and the research, which has been done by your competition!

Increase Perceived Value

People naturally equate high prices with high value - it takes training for people to differentiate between value and price.

By increasing the prices of your products, you subtly tell your existing customers that the value has increased.

Make sure that you inform your existing prospects who have not bought your product yet that the price will be increasing - that if they do not get it soon, they will have to get it for a higher price in the future.