Do you want to discover your passion and turn it into an ethical online home based business? If you do, the internet makes it easier than ever to reach your target market. This article will explore steps you can take to build an online business around your passion.Here are seven essential steps for building your online home based business around your passions:1. Discover what you are passionate about. Find something that has meaning for you. You don’t have to find your passion to do something you love. I have found that people who aren’t interested in what they are doing, give up at the first obstacle they encounter.A technique I recommend is called the elimination technique. First, you write down all your interests and what you enjoy doing. Be sure to write everything down without censoring.Second, eliminate anything that doesn’t make much sense and arrive at a short list. Third, compare what’s left and decide on which one means the most to you.As an example, let’s say your short list consists of online home based business, personal development and real estate. Compare personal development to online home based business. Then I compared real estate to online home based business. The winner for me was online home based business.If you can’t use this elimination technique to arrive at just one, no problem. Perhaps, you can blend together your passions to create something valuable and unique.2. Determine the viability of turning your passion into a business. Find out if anyone is doing what you want to do. Competition means that people are making money. Look at what is working and what is not working, and determine your strategy for standing out. Ask for advice or find a mentor or coach.3. Focus on who you can help, why they should listen to you, and what you help them with. Everyone has a different set of problems, and you need to focus on a specific set of problems to be effective. This enables you to speak to customers in language they understand. The “why” tells them why they can trust you to know what you are talking about.4. Use a blogging platform. Blogging is one of the most effective ways of getting the word out about your business, if you know what you are doing. Blogs are excellent at attracting customers. You will need to build an email list to turn visitors into prospects who want what you offer.5. Give your readers what they want by asking, interviewing and researching. Look at their comments and emails, and ask them about what they are struggling with. Get into their minds. You need to help them come closer to what they want. The readers have problems, and they need solutions to those problems. If you listen to what your readers are saying, you will know what to write about.6. What are you going to sell? If you aren’t selling something, you don’t have a business. If you choose to create an information product or offer coaching or consulting, the focus has to be on who you are serving. Perhaps you can create an audio course, tele-seminar series, small e-book, or audio course. Once you listen to your readers and create a product to solve their problems, chances are that the product will sell well. Just keep the spotlight on your readers.Most importantly, take action. Create it and get feedback. Then improve it.7. “Feel the fear, but just do it anyway.” Yes, we’ve all heard that before. The fear is a sign that you are on the right track. Just decide whether you will give into the fear or not. Pushing the fear away doesn’t work. At least, it hasn’t worked for me. What does work is accepting the fear.Try this method that I learned from a coach: Observe the fear without judging or trying to figure it out. Then welcome it. Accept it. Let it be there. Take action anyway.If you are afraid of failing, understand that you are going to fail lots of times as you build your own business. The goal is to learn from your failures.Starting an online home based business is not easy. Get ready to put in the hours and work hard if you want to be successful. Building a business based on your passions will make it easier to stick it out when it gets tough. The steps above will help you turn your passions into a profitable online home based business.

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.

A real estate agent that is to be managing a commercial or retail property will need to cover operational costs and make a profit. That is where the fees charged are so important. It might sound a bit crazy, but some agencies never make a profit from commercial or retail property management; that is because they do not understand what they are really to be doing and do not set up the systems to support the special skill sets. Commercial or retail property management is quite special; the simple rules of residential real estate do not apply.

Many real estate agencies can also regard the property management service in the office as the ‘poor cousin’ to the sales and leasing division. Whilst that concept may work in residential property management, the same does not apply in and with commercial or retail property. Commercial and retail property management is just far too specialised and complex to be a ‘poor cousin’ to anything.

If you run a real estate agency and want to start a commercial property management division, then here are the basic rules:

Employ good people for the commercial and retail services you are to provide. They need intelligence and drive to specialise.

Gather the commercial and retail market knowledge and trends so you understand what is required to build your division and business.

Make sure that everyone that you employ on commercial or retail property really understands what they are doing, and get them trained to pick up on any shortcomings.

Charge reasonable fees that are reflecting the complex and special tasks of the property management job
So what are the fees for managing commercial or retail property today? To answer the question you should first find out what other agents are charging locally for the management services. You will soon see those that are ‘cheap’ with their fees; the reality is that they do not take the tasks of the job seriously. Low fees do not apply if you are a serious and professional commercial agent. In saying that, it is necessary to supply excellent services to the clients that you serve to justify your fee.

Here are some fees to consider in providing your property management services to commercial and retail property:

A base management fee should be set for managing the property on a day to day basis. That will include rent collection, income and expenditure management, tenant and lease management, and maintenance management. You should also include an allocation of time for reporting to and communicating with all the tenants and the landlord, given the demands and operation of the property.

A fee should be set for negotiating the various types of lease rent reviews when and if they fall due. Given that the rent reviews are of different types, it pays to set fees for each type. Market rent reviews are the most time consuming and should attract the higher fees.

A fee for negotiating new leases and renewals of leases with sitting tenants should be set. It is common to negotiate leases with your sitting tenants.

New leases with businesses seeking to occupy your vacant space in the property will also attract its own fee. This will be higher than the fees that you set with your sitting tenants, as more work is required.

Set an hourly fee for special tasks that are outside of normal management duties. This can be out of hour’s property attendance, court attendance, project management, and business planning or budgeting of the property once per year.
As a general observation, retail property is far more demanding on the property manager’s time given the nature of the tenancy mix and the operations of the property. Take care when setting a fee for a retail property management and give due regard to your office and staff costs.

So how much profit should you make in running your commercial or retail property management division? The answer is about 30% to 40% on top of your gross operational costs of running the division. When you know this number, setting the other fees is not a problem.

There may be other fees for you to consider in addition to the main ones above, so be aware of what the property needs in daily management, and what the local property market is doing. Do not discount your property management fees to win the business; a quality service requires a fair and reasonable fee.