Good Information Articles

Running Your Own Online Business:Getting Started

So, you are thinking of building your own online business? The idea of running your own business on the Net is a right decision. It will bring you a sense of independence and accomplishment and you will be the boss. Now, you can experience that pride of ownership you have always craved. But you need to understand what it takes to be an online entrepreneur (a netpreneur, that is) and how different it is from doing business offline, even though there are fundamental similarities between the two.

*What Makes Online Business tick? *

Consumers often buy on the Internet for four reasons, which have come to be known as the 4Cs:

Convenience: You can visit a website and order from among thousands of displayed products without going through the hassles of traffic or standing in store checkout lines.

Choice: Consumers can avail themselves of numerous websites for almost any product or service, compare prices and quality levels and pick the right choice.

Customization: Do you remember that e-mail from a book club (to which you subscribed only a few days ago) began with "Hi, your first name"? Online marketers often target and customize their messages, such that customization of marketing replaces anonymous transactions. Such customization has the potential of growing into more interactive relationships with consumers, which are built over time. Beyond this, consumers also sometimes have the opportunity to customize products, services and experiences for themselves, when they buy on the Net.

Control: Online transactions have been known to give consumers control over the purchase decision process. For instance, you may decide to either click on the "yes, sign me on" tab on a pop up window, or the "No, thanks" option and continue with your shopping on the Net. Consumers, like never before, can make purchase decisions on their own terms and conditions.

Add these to the fact that the Internet is all about millions of computers wired to one another across the world with people hunched up in front of monitors, trying to find information or buy something they need most at that time and you have one of the biggest markets ever imagined, at your feet. Again, when you consider the opportunity of receiving instant payment for your products or services on the Net, you may need to ask why you never considered setting up your own online business, all this while. But wait a minute...

*You need a Roadmap*

Yes. After all, you wouldn't travel to a city the first time, without preparing yourself with a map to guide you through. Putting a business plan together for your new online venture is not only important, but also necessary.

Not necessarily an expansive hundred page treatise that looks like the "7 Immutable Laws of Evolution", your business plan should be brief, easy to understand and flexible enough to adapt on a day-to-day basis, to the changing culture of the internet.

Remember Intel's first business plan was on one page and Sun MicroSystems' was just three pages. Your business plan should basically answer the following questions:

Where Am I now? This will include some background on your saleable talent, product or service (e.g. if you know a lot about public speaking, your best bet may be to establish an online business that teaches people, including business executives, how to make effective public speeches). Apart from a checklist of your strengths, you should also consider your weaknesses. If you cannot build your own website, for instance, you may need to hire a Webmaster. Other factors you need to consider here include competition. How many online businesses are selling the kind of product you want to sell, how have they been going about it, how large is the market and how can you differentiate your own offering? Again, what opportunities and threats are there in the market right now? If you find out that a particular segment of consumers are not presently being well serviced by your competitors, this is an opportunity within the market and it means you should target that segment. On the other hand, the increasing prices of courier services could be a threat (which may eventually affect your pricing and profitability), especially if your online business has to deliver physical products (such as Audio CD ROMs, e.t.c.) to customers by courier. This may inform changing your initial distribution strategy by making such product downloadable to a customer's PC.

Where do I want to go? In other words, what are the goals of your online business? This should be a clear, concise statement of where you are headed. It should state where your online business would be in 3-5 years time. Your objectives should always be measurable and quantifiable. They should state what you are trying to achieve, such as to achieve a minimum sales target of ABC and a profit of XYZ, every year.

How do I get there? You need to consider which customers you will target and how. How much do you need to set up a website, what kind of website is most suitable for your kind of business and which Webmaster will you hire? How do you process orders, payment and delivery to customers?

In all, your business plan should contain a description of the business, a marketing plan, a financial management plan and an operational plan. If you need help writing a business plan, help yourself with some tips at www.bcentral.com/articles/businessplan .

*You can Sell Anything*

You'd better believe it. The Internet offers tremendous opportunities and advantages to anyone who has a quality product, service or business idea, as long as he is willing to invest some time, effort and, maybe, money.

You can sell anything on the Net that can be of value to other people. This includes your knowledge, life experience, specialized interest or hobby, which can be packaged into an information product such as an e-book, for other people to buy. Don't forget people are constantly looking for information to improve their lives and businesses, or just to reassure them that they are not alone in their downside moments.

Again, apart from selling your own products or services, you can sell other people's information products or software, by becoming an affiliate marketer.

As an affiliate, you earn commissions by sending (or referring) prospects to a merchant's website, that you are representing. If they make any purchases, the merchant pays you a commission. Affiliate Marketing has been described as the easiest way to make an entry into online business. You can build your business in no time and at minimal risk, by becoming the middleman between prospects and a merchant. This is done by marketing the merchant's product and driving customer traffic to his website. The merchant does the rest. He supplies every other thing like excellent products, order and credit card processing, delivery, e.t.c.

Even when you sell your own products, you can always expand the scope of your business and increase earnings by making use of affiliates who will help do the marketing bit and drive constant traffic to your website. Unfortunately, a lot of netpreneurs do not exploit this fantastic opportunity.

*Want to Really Get Started?*

Well, I will recommend two definitive resources on the web right now, for people like you who want to make it big as online entrepreneurs (sorry, Netpreneurs). One is Sitesell's "Make Your Knowledge Sell" which has been described as the complete "infopreneur's toolkit" and contains helpful solutions on how you can develop and sell your own proprietary product on the Net. Check it up at http://myks.sitesell.com/net_hunting.html.

The other one is Corey Rudl's "Insider Secrets to Marketing Your Business on the Internet", which contains in-depth information on how to start, build and run a successful online business. This package comes as two beefy 3-ring binders and 2 CD ROMs, containing tested and proven fast-growth strategies which Rudl has personally used to grow his own one-man Internet business into a $7.6 million enterprise. You will find this at www.marketingtips.com/t.cgi/840099.

In the follow-up to this article, you will get to know the various ways by which you can generate credibility for your online business, why you should differentiate your business through branding and which promotions will help you make the most sales. Happy netpreneurship!

Dele Ogundahunsi, an associate member of the Advertising Practitioners Council of Nigeria and an e-marketer, specializes in Online Advertising and Web Design Directing. He can be reached on (+234) 803 85 10 10 2 or at agroport@outgun.com.

Other Article Sites

findabook.com  moneycd.info  a-mortgage.info   about-lemon-laws.info  aboutstudentloans.info
all-about-publishing.info  auctions-articles.info  bestcollege-university.com  bestispconnection.com
biblefolder.com  blogger-website.com  books-used.info  brokers-guide.info  buywindows.info  cable-dsl.info
career-miner.com  carpel-tunnel.info  cashinaflash.info  cashloanreviews.info  casinobell.com  chat-house.info
clearmycredit.info  collegeloantips.info  crones.info  depression-articles.info   dirnic.net  dishguides.info
divers-below.com  expodog.info   financewizz.com  fire-insurance.info  getgood.info  handleit.net   it-idea.info
health-supplies.info  hosting-right.com  insidealert.com  insurance-facts.info  jobs-employment.info
justgood.info  lookgold.net   lowcost-travel.info  money-source.info  myhostzone.info  numisblog.com
peoplesearchfinder.info  pr-articles.info  realeas.com   refinancing-guides.info  spyware-remove.info
telelot.info  the-law.info   toppaid.info  travel-deals.info  travelcorrect.com  wedding-guide-site.com
your-blog.info  your-credit.info

MORE ARTICLES:

Online Magazine is Home to the Best Travel Writing on the Internet
For the second year in a row, SoGoNow.com is the home to the best travel article written for the internet as judged by the North American Travel Journalist's Association.

The Best Internet Connection For A Top Home Internet Business
When it comes to working at your home business one of the most important things you will need is internet access Having a fast and relatively error free Internet connection is imperative for a person to be successful in working at home

Business & Family Safety and Health Rating
For good reason, practically every endeavor in life is rated. I've seen ratings on who or what's #1 in business, industry, NFL, NBA, MLB, person of the century, athlete of the century, technology, restaurants, university, neighborhoods, travel destination, best looking, best movie, best book, etc.

Work At Home Internet Home Business Opportunity
There are various opportunities for work at home Internet home business opportunities on the Internet Because of the Internet, there are many opportunities for people to be able to take care of their families and work from home and as well

SoGoNow.com -- Home of the Best Travel Article Written for the Internet in 2006
SoGoNow.com travel magazine announced that frequent contributor Linda Fasteson has won First Prize for the Best Travel Article Written for the Internet from The North American Travel Journalist Association.

Internet Based Business: How Single Parents Could Earn Extra Income For The Entire Family
Are you a single parent who has been trying to support your children on a single income? If you have been having so much trouble making both ends meet with your present income, you might want to earn some extra money by setting up an internet based business. A big family with children can be very expensive and you definitely will need to earn some extra money to keep everyone comfortable. Having some extra money could really do wonders for you and your small children so you better start exploring other means of getting extra money for your children through an internet based business.

Internet Marketing Business - Your Home Based Internet Marketing Business and the Freedom Attached with it
There are various reasons why there are many individuals who want to start their own home-based Internet marketing business. Some are saying that the amount of money that they are earning from Internet marketing is higher compared to their monthly salary from their regular work. It even comes to a point that they are earning money similar to or more than the salary of their managers and department heads! This is relatively true, since there are Internet marketers who are earning as much as a hundred thousands of dollars within a month.

Families Mourning Children Travel to Nashville for July Compassionate Friends National Conference
The Compassionate Friends self-help support organization for families going through the natural grieving process following the death of a child is hosting its 31st national conference July 18-20 in Nashville, Tennessee. More than 1300 parents, siblings, and grandparents, as well as professionals who provide support, are expected to attend the conference. Highlights include well-known speakers, more than 100 workshops covering most aspects of grief following the death, a pre-conference Professional Outreach Day, and the Walk to Remember Sunday July 20 at 8 a.m. This conference is annually the largest in the United States aimed specifically for those left behind following the death of a child.

Sales of Children's Travel Bed Soar as Summer Travel Hits
Gentle Air has seen an increase in summer travel sales due to hotels at popular summer attractions charging high prices for rollaway beds and cots.

Home Internet Business Opportunities: Reinvent Your Family
Think about your daily job, daily responsibilities, time spent at meetings, driving your kids to this activity and that sporting event, meal planning and preparation, house cleaning, on and on with our grossly busy lives, and what time is left for our family? Do you really think that 9-5 JOB is the answer to all of our hopes and dreams? Do you really think it was our personal goal to spend the majority of our lives at work? When was the last time you saw your son/daughter play in that school volleyball game or run in their cross country meet? Isn?t it time to put your family first?

Home Based Internet Marketing Business - Staying Organized In Your Home Office
When working from home there is nothing more frustrating than not being able to find things when you need them. While most home business entrepreneurs see themselves as never having any time, you have to spend some of your time to organize things. If you can't daily, you should at least try for once a week, you should set aside some time to put things where it should be. Allot of people have a saying that there is a spot for everything and everything must be in its assigned place.

Children's Home Society & Family Services Receives Reaccreditation to Once Again Facilitate Adoptions in Russia
Children's Home Society & Family Services, a Minnesota-based international adoption service provider, announced today it has been re-accredited by the Ministry of Education and Science of the Russian Federation to facilitate adoptions in that country.

New Home Based Travel Businesses and Training Available for Retirees and Work-At-Home Parents
Affordable training is now being offered for those wishing to set up their own home based travel businesses. Program offers participants everything they need to get started quickly and affordably in this exciting market.

Low-Income Families in Portland Will Soon Have Free Broadband Internet at Home
Cricket Will Provide Free High-Speed Wireless Internet to 100 Portland Families in Pilot Program with One Economy