Some survived War and Depression but this recession brought them to their end.

Very sad.

Making things worse – many have loyal customers and loyal staff who hate to see these businesses close.

As I sat and listened he ranted for almost ten minutes giving all the reasons he could not start his own business and get out of the rat race. He talked about the high cost of start ups, franchising and real estate development. When he finally came up for air I decided to ask simply ask him one question. “Have you every asked yourself what kind of low cost businesses with high profit margins are out there?”

He looked like he had been run over by a truck. I went on to say, “You are just asking the wrong question.” He sat for a minute and said, “Ok, if you’re so smart give me some ideas.” I said, “Great. Oh and by the way let’s make it fun and focus on the ones you can work from home in your pajamas.”

Here are the 5 low cost high profit businesses I shared with a friend.

1. Internet Marketing: Do you have a computer in your home? If so you could be sitting on a gold mine. People use the internet to do all types of things. From a multimillion dollar wire jewelry making enterprise to a young kid from Long Beach California who created his empire teaching people how to play music by ear. Everyday people are getting on the internet and pursuing their own dot com fortune.

2. Tele-seminars: If you not a very technical person one of the
best strategies is tele-seminars. With simply a telephone and a conference call line for your guest to call in on you can offer a class or seminar. You can either use it as a lead generator or you can sell your product or service from the seminar itself. An additional product can come from recording the class. Once you record the class it can become an instant product you can create passive income from.

3. Joint Ventures: If you like the idea of not needing a product or money of your own than the idea of joint venturing could be for you. This business is simply the art of the deal. You are paid in direct proportion to your ability to bring together two parties who would not otherwise know each other outside of your introduction.

For example if you combine company A’s products, knowledge, resources and partner it with company B’s client list you get to share in the profits. And it would not cost you one cent.

4. Affiliate Marketing: What if someone else did most of the work but you got to share in the profit pie? Well, that is what affiliate marketing is all about. There are thousands of products ranging from digital down loads, books,seminars not to mention hard products like computers, cell phones and other
techie stuff. Your job is to find the products that your market is interested in and when you sell something you get a percentage of the sale. You can do this without having any inventory or the overhead of a traditional business.

5. Information Products: This is one of the most highly lucrative low cost businesses you can get into. If you have specialized knowledge or can do you can research and reporton it you can create products that are highly profitable. For example, one of the fastest ways to success is to interview experts in a high demand niche market.

Once you have interviewed these experts you can take the information and create several different products from the one interview. Some of the things you can do is sell the recording itself, sell the transcript of the call, use some of the content create an e-book or report or take several of the interviews and put them together for an expert tape series.

6. Network Marketing/MLM: I have always been a fan of network marketing because the business model is as much about self development as it is building a business. The premise is you find a company that you are passionate about the product, has a proven system and strong team leadership. Most of these companies are low cost of entry. And you build your empire leveraging the efforts of many.

Some people incorrectly believe you are going to get rich off the back of someone else. Not true. The very core of network marketing is built on the fact that you get paid in direct proportion of your ability to recruit, train, inspire, support and lead a voluntary group of people. For those who can do this the rewards are great.

7. EBay: I was recently introduced to the EBay craze by someone who in the beginning had no money so he decided to sell a tape set a friend had created. This product was a compilation of interviews with successful entrepreneurs. Their first sale was $37.00 and they went on to build multi-million dollar empire. EBay is one of the quickest ways to get to a profit. You can take things that you have in your garage today and sell them on EBay tomorrow. Remember one mans junk is another mans treasure.

Nowadays, you may be able to do that using Craigslist!

At the end of the lunch something interesting happened. My friend was starting to see the glass half full. How about you? Are you looking for a business you can start without breaking the bank? The above five businesses are just a few ideas to jump start your thought process. However, make no mistake you can start a low cost high profit business and enjoy it while lounging in your pajamas.

“You need a system to succeed.”

I like to take this a step further. You not only need a “system”, but in order to get the most out of your home business opportunity, you need to have an Automated System. To take that even one step further, your Automated System must hit your prospects from EVERY angle in order to achieve the highest levels of prosperity.

Here are four techniques that if used on all of your prospects WILL increase your earnings with ANY home or internet business opportunity.

Step 1: Create a “capture” or “squeeze” page.

Even if you have no idea what this is, you have almost certainly seen a capture page and even been “captured by one. A capture page is simply a page that is set up to give some brief information about a product or service, but then requires the prospect to enter their info to get the full details. It is often a teaser or hyped up page to get the prospect to want to know more. The most effective capture pages touch on the prospects personal or financial needs compelling them to find out more by filling in their information. Once they do, you own their information for life and can continue to follow up with them or contact them about other offers of services you have no, or develop in the future. Capture pages are a MUST to start building your list that you will be able to promote any product or service. A great program that allows even the most novice person to create capture pages in minutes is Lead Page Generator.

Special note: NEVER LOSE YOUR LIST OF CAPTURED NAMES, ADDRESSES, EMAILS, ETC.

Those that are highly successful in any home business or internet opportunity have a list of thousands that they have built over the years. Any time they have a new product, service or opportunity to promote they send it out to their list first. This gives you a big head start and if your products, services and opportunities have been successful in the past, your list will follow you everywhere.

This all leads into the second technique to creating a totally automated system, email auto responders.

Step 2: Follow up with prospects via email

This is the easiest and most recognizable form of follow up. When creating a capture page, all you have to do is tie the information form into an auto responder. This can be done very easily using services such as aweber. Now, when a prospect fills in their information, you not only get to keep their information for your list, but now you can follow up with them daily, weekly, monthly without having to lift a finger. Of course, you have to write your email follow up messages ahead of time, but once you have them completed, you are following up with your prospects over and over while doing no additional work.

While email is a nice tool to make your system automated, it is far too often the ONLY tool people use. This is a huge mistake. Fact is, that email follow up and marketing is becoming far less effective due to spam laws and people filtering their email accounts.

In order to reach as many people as possible, you need to come at them from different angles.

Step 3: Follow up with a voice broadcasting system

Voice broadcasting gives you yet another method of following up with prospects. It is an awesome tool and as of late has been sort of the “new email.” Because email is getting caught by filters and spam control features, it is necessary to try and reach prospects using other methods. Outside of email, voice broadcasting is the easiest and least expensive means of following up. In addition, voice broadcasting can keep your system totally automated. You can record a simple message or series of messages, collect the prospects phone number on your capture page and then simply set up your voice broadcasting software to call them once, weekly, monthly or whatever you choose. There are lots of services to use out there. Goldcalling, voiceshot, probuilderplus, and protus are just a few.

Step 4: Postcard follow up

Direct mail is by far the most forgotten means of follow up, but often the most effective. Postcards are a terrific way to make sure that your prospects hear form you. By simply collecting their mailing info on your capture page, you have set yourself up to use an incredible tool that will definitely help increase your sales and income.

There are a couple of services that allow you to set up a direct mail campaign to work just like an email auto responder. The best service in my opinion is PostCardAutoresponder.com. You can input a prospects mailing address and set up a campaign that will send them a postcard once, twice, weekly, monthly, or whatever you choose. Just set it up once and forget it. You can contact a prospect for an entire year on autopilot . You can even create custom postcards for any business , service or opportunity.

If you use that simple 4 step plan to create an automated system for your business, you will definitely increase sales and income. Plus, you will not only have an automated system that works for you while you are doing the things you enjoy, but it will be one that contacts prospects from every angle so they are sure to get your message early and often. Remember, it is not always enough just to have a system. You need to have an automated system that you can plug each prospect into that will run itself while you focus on building your business.

The most successful companies I know use email marketing as their top internet marketing weapon.

There are many, many ways to improve your email marketing methods. And the good news is you don’t have to spend a lot of time making fixes.

I’m going to reveal my favorite, best-kept secret methods and strategies to help you get more response from your email marketing
exactly 29 minutes from now on Stump Markus…

You can check it out here: Stump Markus!

via Small Biz Survival.

You can also sign up for a Free Meal Planning Guide too!

I’ve been blogging about how to make money with iphone applications.  You can see the related links below in fact.

Well, today I ran across something that would make an EXCELLENT iphone application. Go ahead, steal the idea. I don’t have time to do anything with it today anyway. In fact if you make one let me know so I can use it.

There’s a great site called 3 Buck Bites

It lets you find places that sell good food for $3.99 or less… cheap eats in other words.

As soon as I saw it, I thought, this would make one heck of an iPhone application.

Just ‘cuz you have an iphone doesn’t mean you don’t want cheap eats. You’ve got to cut corners somewhere to pay for that phone and all the applications you’re getting addicted to!

Anyway, this site concept is cool, but it’d be even better if it were a downloadble iPhone app you can put to use when you’re looking for food, your stomach is gnawing at you and there’s no computer screen in sight!

What makes doing such an app more doable for YOU is that this site uses publicly available feeds from citysearch.com.

Why couldn’t you? Or hire it done?

Of course, it only handles a few major cities. But these are cities with lots of hungry iphone users!

Related Links:

Check out How To Create iPhone Applications yourself- it’s an excellent investment of your time.

Make Money Creating IPhone Applications

How to identify Profitable iPhone niches…

Of course there are trade offs. You could live with near absolute freedom in some ways in Alaska. But how would you make a living?

Maryland is near the bottom at 46… but there are lots of people there and a constant flow of government money and jobs to provide a base for service industries.

States are rated on a variety of factors. Some states score well in “fiscal policy” but not in “regulatory” activism.

The report also ranks personal and economic freedom.

Here is the overall freedom ranking from page 19 of the report.

Overall Freedom Ranking
State Overall Freedom

1. New Hampshire 0.432
2. Colorado 0.421
3. South Dakota 0.392
4. Idaho 0.356
5. Texas 0.346
6. Missouri 0.320
7. Tennessee 0.284
8. Arizona 0.279
9. Virginia 0.275
10. North Dakota 0.268
11. Utah 0.250
12. Kansas 0.210
13. Indiana 0.208
14. Michigan 0.206
15. Wyoming 0.193
16. Iowa 0.183
17. Georgia 0.146
18. Oklahoma 0.143
19. Montana 0.125
20. Pennsylvania 0.102
21. Alabama 0.092
22. Florida 0.068
23. North Carolina 0.019
24. Nevada 0.013
25. Mississippi -0.004
26. Delaware -0.008
27. Oregon -0.009
28. Nebraska -0.018
29. Arkansas -0.023
30. South Carolina -0.040
31. Alaska -0.071
32. Kentucky -0.082
33. West Virginia -0.097
34. Louisiana -0.110
35. Minnesota -0.111
36. New Mexico -0.150
37. Wisconsin -0.199
38. Ohio -0.205
39. Maine -0.214
40. Vermont -0.217
41. Connecticut -0.225
42. Illinois -0.238
43. Massachusetts -0.242
44. Washington -0.275
45. Hawaii -0.304
46. Maryland -0.405
47. California -0.413
48. Rhode Island -0.430
49. New Jersey -0.457
50. New York -0.784

(click the image to see it full sized!)