So you’re ready to bring out the entrepreneur in you. Or you already are an established entrepreneur and would like to push the bar even higher. Whatever your situation is, this article will help you to start a profitable Internet business.
The first step is to decide on the commodity or service that you would like to trade in the Internet. If you are still not decided, here are some tips on how to choose:
Make a list of things that you’d like to do. Make each activity the heading of a clean sheet of paper.
On each activity sheet, list all types of business that can be related to such an activity. This is where you should be imaginative on new products that can be offered that is not yet in the market.
Encircle the businesses that can last even during crisis. Basic human needs such as food, shelter and clothing, for example, will have demand at any point in time, so these maybe businesses that will last. One of those encircled items maybe your business of choice.
Once you have a shortlist of businesses in mind, ask your self the following questions to narrow your choice further:
Will I enjoy doing this? Most successful businesses thrive because the owner is passionately dedicated to it. Thriving in a business requires endurance, especially during the start-up phase, so you must love what you’re doing in order to continue doing it for a long time.
Can I be an expert in this field? When you have a toothache, you don’t go to the Family doctor and expect to be relieved of it. You naturally go to the dentist, because he specializes in tooth care and repair. Your intended internet business will be preferred by consumers if you are specialized in the field that you intend to do business in.
Will this succeed in an internet-based set-up? Traditional business schools will teach you that the location of your business is a key factor to its success. The Internet is, as any address, a good location for your business. In fact, since 2001, internet-based transactions have been growing exponentially from 14% to 44% per year. This alone can inspire every businessman out there to carve his own niche in the world of e-commerce!
If, after careful consideration, you are still not decided on what product or service to sell, there are other options into establishing an Internet Business, described below:
Resell Products You Bought in Bulk. If you are at a loss for your own product, why not sell those of others that already established their name? Wholesalers often sell at a lower price for those buying in big volumes regularly. This mode of Internet business is ideal for products that have not reached rural areas due to limited distribution capabilities.
Internet Business with Direct Sales. There are companies who choose direct sales as a mode of distribution for their product, that is, they do not go through retail stores or don’t have their own retail chain. They partner with individuals or small companies to sell their products. The advantage of partnering with these Direct Sales companies is that they have established a structure for sales, marketing and after-sales support. All you have to do is apply those and you earn commission.
Affiliate Programs: This last type of Internet Business deals with marketing someone else's products by being their affiliate. By taking on an affiliate program, you are paid based on the percentage of sales made through your referral.
By now, you would have picked one specific business among the four types above. Now it’s time to begin your e-venture.
Create a Business Plan. This step is important in the success of your Internet business. A well-written plan is specific narration of your business’ objective, strategies, financials and success measures. This will be the entrepreneur's guide in breathing life to his Internet business. Also, he can use this document as he invites investors, business partners or suppliers. The plan can be further developed into the business proposal, which he will use to entice his buyers.
Carve out your E-Niche. The best way to take a place in the Internet is to have your own website. Before learning how to crate one, you need to understand the following terms:
Web Host - the company that provides the network of computers to stores the files of web sites.
Domain is a group of networked computers that share a common communications address. Examples would be .com, .org, .ws. In order to obtain a place in this network of computers (e.g. www.yourbusinessname.com), one must register with the company owning (or more aptly hosting) the network and pay the corresponding fee.
URL stands for Uniform Resource Locator. This is the standard way of specifying the location of one’s website. In the example, http://www.yourbusinessname.com,/ is the URL, and .com is the domain, where the URL is located.
Server - a computer hardware that that provides the file hosting services to other computers (like yours and mine) that access the websites it stores. Some web hosts can offer dedicated servers for websites, while other have multiple websites in a shared server. Depending on the reliability that your Internet Business requires and also the speed that your clients need in accessing and operating your website, you may choose between a dedicated and shared server. Consequently, prices for web hosting will vary.
Now that you understand those terms, you can think of a name for your Internet business in order to carve out your e-niche in the World Wide Web. Things to remember about naming your website:
It is best to purchase your own domain name instead of using a sub-domain for free. For example, a free name would be www.internetserviceprovider.com/yourbusinessname. A purchased domain name is www.yourbusinessname.com. To customers, having your own domain is more professional than being just a part of another business.
Pick a name that is easy to remember and immediately identifies your Internet business. If you are trading books over the Internet, for example, naming your website www.bookstore.com will ensure that all those looking for books will visit your website.
If your capital can afford it, buy all domain names that maybe closely related to your Internet business. By the above example, you may choose to buy also www.bookstore.us, www.book-store.com, etc. You may channel all those addresses into a single webpage (called domain forwarding), which ensures you have a monopoly of the trade.
Upon registration of your domain name, you will also sign-up with a Web hosting company. Make sure to research the best deals and offers of each company before signing up. Aside from file size (amount of data you can store in their server) and band width (speed of data transfer from your website to the users), ask about website designing, e-mail hosting, historical uptime (amount the server is up and running, you want this 100%), back-up schedule and 24/7 support. The last thing you want is for your business to suffer just because your clients cannot access your website whenever they need to.
Lastly, promote your Internet Business. The first step is to make sure that your website ends up in the top 10 listed sites of search engines like Yahoo, Google, etc, called Search Engine Optimization (SEO). As a beginner, you may opt to sign up with companies that do this professionally for a fee. However, you can also do it on your own by reading up on tips on how to do SEO.
Another way of promoting your Internet Business is to use your e-mail signature to inform your friends about your new website. You can easily program your e-mail to have an auto signature to include your website name and a catchy phrase to lure your readers into clicking it.
You can also have an affiliate program. Above, this was discussed as another Internet Business in itself, but it can also be a means of promoting your website. Affiliate program means asking other people to promote your website through their website or e-mail programs. Sale made from referrals by your affiliate will be tracked and will be the basis of their payment, as a percentage of the sale. This is a very effective tool in getting wider coverage for your Internet Business.
With the Internet Business still rocketing, there are endless possibilities !
Friday, December 29, 2006
Saturday, December 16, 2006
How To Start Your Own Internet Business
In this brief article, I hope to start you on your way to an Internet business that is ethical, honest and legal, and that can still make you millions of dollars, using primarily free resources. You can start your very own business with very little startup cost!
Today I would like to help you with the first step: the decision to start a business at all. I know what you are thinking at this point--"well, who wouldn't want to make a million dollars?". However, starting a business takes more than just the desire to make money. Starting any business requires that you learn how to run that business. It requires some time and effort. An internet business is no different. There are some key concepts that you will have to learn, but it does not require that you are a business wizard or that you even have a college degree. The resources for learning how to start and build a business are literally at your fingertips--they are available on the Internet for FREE. Yes, for free. I am not trying to sell you anything!
Let's get back to deciding whether or not beginning a business is right for you. Doing the following exercise is a crucial step before making any large decision. We are literally starting at assessing the core strength of your business, which is you. If you do this exercise, you will learn what money means to you. If you ask anyone of the street if they want to make more money, they would probably say yes. But if you ask them why, that it is harder to explain. This exercise will help you to know what money means to you, which is a very valuable lesson. If you do this exercise before you get started, you will have it to motivate you thoughout the rest of your life, really, even if you do not start a business at all.
This exercise is simple, and only requires a paper and pen. Sit down in a quiet place and think about what money means to you. Envision yourself with all the money you desire. Where are you? What are you doing? Where do you live? For most people, money means security first, then freedom. Security means that we can easily afford our basic needs, like housing and food. Freedom is all the other stuff. Usually it means:
Freedom from: a boring job, working for someone else, a low wage, worry about paying bills. Try to come up with other examples that are meaningful to you. Freedom to: buy new things, take trips, own your own home, have the best for their kids, live where you like, make your own working hours, relax more, spend more time with the people you love, give to charity. Hopefully the "freedom to" list is longer than the "freedom from" list, because it is the "freedom to" list that is the one that is more important. Even though you may be in a situation that you want to improve, you need to see where you want to be and think about that, not focus on what you don't want. (This is called the Law of Attraction, which I hope to discuss more in another article).
Perhaps you are one of the lucky people who has everything that you feel that you need. Congratulations to you! I hope that you have found some benefit in doing this exercise. Most people find that although they are not in a bad situation, by allowing themselves to dream a little they can visualize their ideal situation, which usually does not match exactly where they are. They see a situation in which some more money would be helpful. There are many ways to solve that dilemma. You can get another job. You can cut down on spending. You can repay debt. All of these are ways to increase your income.
However, most people that are making lots of money have their own business. That is a fact. Read "The Millionaire Next Door" by Dr. Thomas Stanley and Dr. William Danko to prove it to yourself. (This is not a plug for that book. Use your local library!) As I wrote in the beginning, an Internet business is a way to start a business with very little startup cost. It does take some time and effort, but the potential is there to achieve your dreams.
I wish you success!
Today I would like to help you with the first step: the decision to start a business at all. I know what you are thinking at this point--"well, who wouldn't want to make a million dollars?". However, starting a business takes more than just the desire to make money. Starting any business requires that you learn how to run that business. It requires some time and effort. An internet business is no different. There are some key concepts that you will have to learn, but it does not require that you are a business wizard or that you even have a college degree. The resources for learning how to start and build a business are literally at your fingertips--they are available on the Internet for FREE. Yes, for free. I am not trying to sell you anything!
Let's get back to deciding whether or not beginning a business is right for you. Doing the following exercise is a crucial step before making any large decision. We are literally starting at assessing the core strength of your business, which is you. If you do this exercise, you will learn what money means to you. If you ask anyone of the street if they want to make more money, they would probably say yes. But if you ask them why, that it is harder to explain. This exercise will help you to know what money means to you, which is a very valuable lesson. If you do this exercise before you get started, you will have it to motivate you thoughout the rest of your life, really, even if you do not start a business at all.
This exercise is simple, and only requires a paper and pen. Sit down in a quiet place and think about what money means to you. Envision yourself with all the money you desire. Where are you? What are you doing? Where do you live? For most people, money means security first, then freedom. Security means that we can easily afford our basic needs, like housing and food. Freedom is all the other stuff. Usually it means:
Freedom from: a boring job, working for someone else, a low wage, worry about paying bills. Try to come up with other examples that are meaningful to you. Freedom to: buy new things, take trips, own your own home, have the best for their kids, live where you like, make your own working hours, relax more, spend more time with the people you love, give to charity. Hopefully the "freedom to" list is longer than the "freedom from" list, because it is the "freedom to" list that is the one that is more important. Even though you may be in a situation that you want to improve, you need to see where you want to be and think about that, not focus on what you don't want. (This is called the Law of Attraction, which I hope to discuss more in another article).
Perhaps you are one of the lucky people who has everything that you feel that you need. Congratulations to you! I hope that you have found some benefit in doing this exercise. Most people find that although they are not in a bad situation, by allowing themselves to dream a little they can visualize their ideal situation, which usually does not match exactly where they are. They see a situation in which some more money would be helpful. There are many ways to solve that dilemma. You can get another job. You can cut down on spending. You can repay debt. All of these are ways to increase your income.
However, most people that are making lots of money have their own business. That is a fact. Read "The Millionaire Next Door" by Dr. Thomas Stanley and Dr. William Danko to prove it to yourself. (This is not a plug for that book. Use your local library!) As I wrote in the beginning, an Internet business is a way to start a business with very little startup cost. It does take some time and effort, but the potential is there to achieve your dreams.
I wish you success!
Tuesday, December 12, 2006
What Are The Ways To Work At Home and Make Money Online?
There are thousands of things you can do to make money online. Internet has changed the life for majority of people. Could our parents have imagined that some day we will be able to work from the comforts of our homes? Actually pursue a career at that!
Coming to the point, there are many ways to work at home. Do keep a few basic things in mind. Like, there could be short term opportunities and long term opportunities to work at home and make money online. Opportunities that require special skills and opportunities that don't. Some work at home offers will be such that you will be able to start working as soon as soon as you have joined the program and likewise money will also start coming immediately. while some will take time to build. We will discuss them in a nutshell here.
Take for instance getting paid for Taking Online Surveys, doing Data Entry Assignments or being a part of Focus Discussion Panels. These are the simplest and most popular ways to work at home. Anybody can do it. The ground work includes identifying companies that are looking for people to do surveys or data entry work.
In case of surveys, once you have found such companies, you register your profile with them and then when there are surveys matching your profile a survey will be sent to your inbox which you are expected to answer and send back. Or they may also provide you with a link where you have to go and take the survey online. One survey takes about 15 to 30 minutes. The more companies you have registered your profile with, the more surveys you will receive. And the more surveys you do, the more money you make.
Likewise, you can make money shopping. It works on the above lines. Except that instead of taking surveys you go out and shop. You keep the product, they pay for it and you try them and give the companies a feedback. Simple.
Data entry jobs can also be found online. They sent you jobs online which you have to do in the given time period. You make money per assignment or word depending on the policy of the companies you are working with.
Long term opportunities include having a website and selling stuff through them. Its your shop on the net open to the entire world. Even on a Sunday! You can sell anything you want, from stuffed toys to computer peripherals to a recipe book written by you. You can do a lot and make a lot more money if you have a website. Building and promoting a website is time taking and requires focus and patience but the effort is worth it.
Jobs that require special training or skill include, becoming an Online Proofreader, Medical Transcriptionist, Translator etc.... There are many, many more such opportunities on the net. Just surf as much as you can. Type your main keywords and you will come across many opportunities. Go through and understand each one of them before taking the final plunge. Always remember, your work at home job or business is going to last you a lifetime, so make sure you are choosing something that you enjoy doing.
Coming to the point, there are many ways to work at home. Do keep a few basic things in mind. Like, there could be short term opportunities and long term opportunities to work at home and make money online. Opportunities that require special skills and opportunities that don't. Some work at home offers will be such that you will be able to start working as soon as soon as you have joined the program and likewise money will also start coming immediately. while some will take time to build. We will discuss them in a nutshell here.
Take for instance getting paid for Taking Online Surveys, doing Data Entry Assignments or being a part of Focus Discussion Panels. These are the simplest and most popular ways to work at home. Anybody can do it. The ground work includes identifying companies that are looking for people to do surveys or data entry work.
In case of surveys, once you have found such companies, you register your profile with them and then when there are surveys matching your profile a survey will be sent to your inbox which you are expected to answer and send back. Or they may also provide you with a link where you have to go and take the survey online. One survey takes about 15 to 30 minutes. The more companies you have registered your profile with, the more surveys you will receive. And the more surveys you do, the more money you make.
Likewise, you can make money shopping. It works on the above lines. Except that instead of taking surveys you go out and shop. You keep the product, they pay for it and you try them and give the companies a feedback. Simple.
Data entry jobs can also be found online. They sent you jobs online which you have to do in the given time period. You make money per assignment or word depending on the policy of the companies you are working with.
Long term opportunities include having a website and selling stuff through them. Its your shop on the net open to the entire world. Even on a Sunday! You can sell anything you want, from stuffed toys to computer peripherals to a recipe book written by you. You can do a lot and make a lot more money if you have a website. Building and promoting a website is time taking and requires focus and patience but the effort is worth it.
Jobs that require special training or skill include, becoming an Online Proofreader, Medical Transcriptionist, Translator etc.... There are many, many more such opportunities on the net. Just surf as much as you can. Type your main keywords and you will come across many opportunities. Go through and understand each one of them before taking the final plunge. Always remember, your work at home job or business is going to last you a lifetime, so make sure you are choosing something that you enjoy doing.
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