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Month: May 2019

Top 5 Advantages of Starting Your Business Online

Posted on May 27, 2019 in Uncategorized

Starting a business is risky. It’s the reason why everyone doesn’t have one. It can require thousands of dollars of investment just to get off the ground. 9 out of 10 of all new businesses fail in the first year. Before any profit is made, things like product inventory, incorporation, advertising, employees, accounting, insurance, licenses, commercial space etc. have to be paid for.

Enter the internet..

The digital world has taken away a lot of the risk of starting the business of your dreams. There are still start-up expenses involved in the beginning but they are not nearly as high as starting a brick and mortar business. License and incorporation fees are going to have to be paid online or offline but most of the other expenses can be avoided in the early stages by starting with your online presence.

If it can be sold in a store it can be bought online and shipped to the customer’s home. At the very least it will add an additional revenue stream for the business. There are plenty of advantages to starting a business online but here are my top five.

1. There is no immediate need for full-time in-house employees.

What makes online business so powerful is its scalability; meaning you do a little bit of work for a greater result. With automation tools you can have a lot of your tedious data entry tasks done without you even thinking about it. With PayPal you can accept payments online through your website without you even knowing a credit card was entered.

If you are selling digital products that are to be downloaded then there is no need for pre-ordered inventory or commercial space, thus eliminating the cost of rent.

For when you actually need the assistance of a real human, sites like oDesk.com and Elance.com make it possible for you to outsource work to people on a for hire, monthly or even a full-time basis.

Things like insurance and security are needed for online as well as online but securing intellectual property stored online in the cloud is a lot less expensive than doing the same for merchandise in a store that is susceptible to theft or fire

2. You have the freedom to travel.

There is no need for a physical location in most cases so there is no need to stay in one place. If you need to pack up and move your company to another state where there is more opportunity, it can be as simple as packing up your laptop and accessories and leaving. With a physical ‘brick and mortar’ business, it would be a little more difficult to relocate. You will most likely be constrained to whatever lease agreement you may have in place.

As you know, business and tax laws vary from state to state. Having your operation online gives you the freedom to choose where you want your business to be incorporated. You would have to have some sort of address established in the state but it doesn’t have to an actual store. There are a few states who’s laws work best for the traveling internet entrepreneur. *I am not an accountant or a business lawyer so please consult one before getting started.*

3. The whole world has access to what you’ve got to offer.

You aren’t limited to your immediate geographical area anymore. You aren’t limited to ANY geographical area for that matter. Offering your products and services online opens your business offering up to the edges of the world. The internet doesn’t sleep and there are billions of people online looking for solutions to their problems, while YOU are sleeping.

4. You are at the fingertips of a growing online market.

The internet definitely isn’t going anywhere anytime soon as more and more people are gaining access to an internet connection or a smart phone every second. E-commerce is following the same trend as more and more people are becoming comfortable making purchases online and from their mobile devices. From a consumer’s standpoint, making purchases from the comfort of your own home can save you a lot of time, and for certain products, shame or embarrassment.

5. You can inexpensively test your market.

Not every brilliant idea translates into a consumable product or service. And as you know, the failure rate of new businesses is very high. Another advantage of starting a business online is the ability to gauge interest without actually having the product readily available for sale. One example of this that I’ve seen a lot is a preview or ‘beta’ page with a prototype of a product where people can sign up to ‘be the first to know’ when the product is made available. This can be done with a food product, a clothing line, an app, pretty much anything. It’s a great way to gauge interest before you go all in with a final product.

You don’t need $10,000 to start a business anymore..

There are hundreds of ways to make money online and frankly, who can afford NOT to open up shop to the billions of people on the internet. There are still a lot of traditional brick and mortar businesses that are not providing their products and services online, constraining themselves by business hours and management of on premise staff.

All you need is a website, a product or service and consistent potential-buyer traffic to that website. No permits, no city council meetings, no weather constraints and depending on where you live, no off duty police officer.

Recommended reads: ‘The Four Hour Work Week’ & ‘The $100 Startup’

Easy Local Business Online Marketing Tips

Posted on May 26, 2019 in Uncategorized

The most important principle every person should follow when building a business is the shortest: location. You build your business where the money is. Today, this means building your business online. But what if you are already an established local business? How do you integrate the power of the internet with your brick and mortar business? Answer: local business online marketing.

Why is local business online marketing important? “83% of US households use the internet as a shopping source to shop locally.” “97% of consumers use the internet to research products and services in their locality.” These two statistics are enough reasons to persuade you to employ online marketing. The next question is how can you improve your business online? Below are local business online marketing tips you can do:

Local Business Search Listings

Google Places, Yahoo! Local and Bing Local are your business’s online directories. Following simple verification steps will help people find the location of your business and how they can contact you. This should be the very first thing you should do. Also, upload photos of yourself and your business because local business search listings want users to see actual pictures of your location. People who search for your business online also want to see the pictures of your establishment too. It doesn’t have to be professional photos, but good quality ones are a good representation of your business and your attention to detail.

Reviews Are Good

Reviews are good for your business as future customers will be able to know what to expect from you. Encourage your customers to write reviews on local listing sites. Do not worry about bad reviews though. No business is perfect and having excellent, 5-star reviews all the time may send a wrong signal that you are manipulating the reviews. Of course, you don’t want to attract bad reviews as well.

Make Your Phone and Address Known Online

It is good to have a website, but make sure that you include your phone number and physical address so that future customers will be able to contact or visit you right away. Avoid online forms. Spread your number and address on all your website pages to stress that your business does in fact exist.

Always Think Like a Searcher

It is not hard to know what people want; just think of what you want. For example, you are looking for a Mexican restaurant in Houston, Texas. You will certainly search for “Mexican restaurant in Houston.” That’s what your customers will do as well. Focus on specific keywords when optimizing your site so that you drive relevant traffic and targeted customers to your business.

How To Start a Business Online: 5 Easy Yet Effective Steps to Be On The Right Path!

Posted on May 25, 2019 in Uncategorized

If this is your first time to do business online, you’re now probably faced with these questions: How to start a business online? How am I supposed to sell online? What do I need to do? Am I really going to earn doing an online business?

These are some of the questions that we will help you find the answers to. Letting you know about the important things that you should be aware of when starting an online business. We will also be giving you tips on how you can become efficient in starting your own online business.

Now what is it that you intend to offer? Will it be products or services. Knowing what you intend to offer is important, if you already have one in mind, because this will help you determine your target market. However, you don’t necessarily have to procure all the products that you intend to offer online.

How to start a business online?

The first thing you need to do is to look for your market. Most people who plan to make business online make this common mistake. They often look for a product or service first, then search for their marketplace second.

Remember that you intend to generate profit. Always keep in mind that successful online businessmen look at the possibility of earning more by spending less. So the first thing you need to is to look for your new market.

How to look for your target market.

Now this answers the questions on how to start a business online, how you’re supposed to sell online, what you need to do and if you are really going to earn doing an online business. Doing an online business, you need to look for your target market first. This is how you’re supposed to sell online and this is what you need to do. Now how do you go about looking for your target market?

Visit online forums.

Find out people’s problems. Try to find out what most people are having problems with, problems that most people are trying to solve.

Do a keyword research.

Search for keywords that most people use every time they search online for solutions to their problems.

Check out your existing competitors.

Try visiting their websites. Find out what they do and how they do it. Then you can use the things you have learned and come up with a product to the target market that already exists. You have the option to join the competition and better that your competitors.

Finding your target audience solves the problem of how you can start a business online. It is essential for you to know your market, more important than the products or services that you intend to offer. You need to find the problem, then provide the solution. This is a proven business technique that many businessmen have used. The moment you have your audience, you can then easily advertise your products and services. You can then offer them whatever it is you think will help them solve their problems.

How to start a business online with a hundred percent success rate?
All you need to do is to just follow the simple steps and you’re good to go. And don’t forget to find your intended target market first, for you to become successful in your chosen field of online business.

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