1. Yellow crayons make great highlighters.
2. You can amaze your friends and family with the fact that you can type 63 WPM while nursing your baby and taking an order from your newest client. (Okay, maybe THEY won't be impressed, but YOU will be!)
3. You'll have the most entrepreneurial kids in the neighborhood. Forget about lemonade stands - they'll be CEO's of their own jewelry making business - paying other kids commissions on sales and getting written up in the local papers.
4. No matter how indifferent they may seem, your teenagers LOVE the fact that you are there when they get home.
5. Finger painting unleashes your creativity.
6. In time you will honestly smile from your heart and not have to bite your tongue when people call you a "lady of leisure". If they only knew.
7. Your little ones don't care what you wear to work. (Or even if you've brushed your hair!) In fact, the goofier you look, the better you look in their eyes!
8. When your daughter looks at you with her big baby blues and pleads "Mommy, please don't go to work today." You can instantly answer "Okay!" without asking your boss for permission.
9. Hugging and kissing at work won't get you in trouble with your husband. (With your kids, of course - Come on now!)
And the best reason for being a work-at-home mom ...
10. People will ask you "How do you do it all?" And you'll just give them your best Mona Lisa smile and wonder that very same thing to yourself, but know with all your heart and soul that however you manage it all, it's worth it!
Sunday, March 26, 2006
Practical Tips For Online Success
In order to be successful in setting up your Internet business you can follow a 10-step plan:
1. Find a product that sells online
Develop ideas to find a product, do market research on the ideas that sound good and test to see if there is an online market for the product.
2. Determine the Business Model
Determine the best business model for your intended business, whether it is product-, service- or information-based. The business model has to give you good profit margins, with minimum problem and cost incurred in delivery.
3. Identify your target market
Identify an easily targeted niche market for your business.
4. Grab a good domain name
An appropriate domain name is essential for search engine ranking purposes as well as your image, branding and marketing.
5. Develop a simple but professional Website
You need to set up a Website that will establish your credibility and ensure repeat visits.
6. Create USP for Your Product/Service
You need to create a unique selling proposition for your business in order to differentiate it from others. This is not unlike all businesses.
7. Create compelling copy writing
You need to be creative in your copy writing to make it unique and attractive enough to catch the attention of potential customers.
8. Get An Online Payment
One of the prime advantages of Internet businesses is the ease of purchase. Having a simple and secure online payment system would further enhance the attraction of your site/business. There are many third party online payment systems which you could leverage on without incurring high costs. In Malaysia, companies offering online payment systems include EoneNet (http://www.eoneNet.com/), Shinjiru Webpage Centre (http://www.shinjiru.com/Internet/hosting/gateway.htm) and Emerge Systems (http://www.emerge.com.my/E_Comm.htm) among others.
9. Get massive traffic for your Website
You need traffic to get sales for an online business. You will therefore need to learn the basics of how you can attract or draw traffic to your site. A variety of methods can be employed for this ranging like listing in appropriate search engines, affiliation with related sites and advertising in other forms of media. EOneNet has a mentorship program which coaches new users on methods they could employ to ensure adequate traffic to their site and also other areas of concern.
10. Track Sales and Visitors to Measure
You need to track and monitor not only the traffic to your site but also the number of sales that results from this. This is a maintenance measure you will need to do regularly to determine how effective your strategies have been and what you can do to redress any problems that occurs. You may need to rework on the first seven steps to remedy any shortcomings in your strategy. There is a variety of software available, which you could use to facilitate this. Check http://www.thecounter.com which offers users free counters which can be incorporated in your site.
Success on the Internet is a combination of various things. It may be a result of offering good quality, establishing a good position in the marketplace, finding the right market, establishing strategic alliances with other Internet businesses, and continuing to take advantage of technological changes. You will need to continuously monitor your progress and strategise and restrategise your business in order to keep up with the ever changing markets you cater to. Success can only be achieved as a result of the commitment to never-ending improvement and keeping a step ahead of your competition.
1. Find a product that sells online
Develop ideas to find a product, do market research on the ideas that sound good and test to see if there is an online market for the product.
2. Determine the Business Model
Determine the best business model for your intended business, whether it is product-, service- or information-based. The business model has to give you good profit margins, with minimum problem and cost incurred in delivery.
3. Identify your target market
Identify an easily targeted niche market for your business.
4. Grab a good domain name
An appropriate domain name is essential for search engine ranking purposes as well as your image, branding and marketing.
5. Develop a simple but professional Website
You need to set up a Website that will establish your credibility and ensure repeat visits.
6. Create USP for Your Product/Service
You need to create a unique selling proposition for your business in order to differentiate it from others. This is not unlike all businesses.
7. Create compelling copy writing
You need to be creative in your copy writing to make it unique and attractive enough to catch the attention of potential customers.
8. Get An Online Payment
One of the prime advantages of Internet businesses is the ease of purchase. Having a simple and secure online payment system would further enhance the attraction of your site/business. There are many third party online payment systems which you could leverage on without incurring high costs. In Malaysia, companies offering online payment systems include EoneNet (http://www.eoneNet.com/), Shinjiru Webpage Centre (http://www.shinjiru.com/Internet/hosting/gateway.htm) and Emerge Systems (http://www.emerge.com.my/E_Comm.htm) among others.
9. Get massive traffic for your Website
You need traffic to get sales for an online business. You will therefore need to learn the basics of how you can attract or draw traffic to your site. A variety of methods can be employed for this ranging like listing in appropriate search engines, affiliation with related sites and advertising in other forms of media. EOneNet has a mentorship program which coaches new users on methods they could employ to ensure adequate traffic to their site and also other areas of concern.
10. Track Sales and Visitors to Measure
You need to track and monitor not only the traffic to your site but also the number of sales that results from this. This is a maintenance measure you will need to do regularly to determine how effective your strategies have been and what you can do to redress any problems that occurs. You may need to rework on the first seven steps to remedy any shortcomings in your strategy. There is a variety of software available, which you could use to facilitate this. Check http://www.thecounter.com which offers users free counters which can be incorporated in your site.
Success on the Internet is a combination of various things. It may be a result of offering good quality, establishing a good position in the marketplace, finding the right market, establishing strategic alliances with other Internet businesses, and continuing to take advantage of technological changes. You will need to continuously monitor your progress and strategise and restrategise your business in order to keep up with the ever changing markets you cater to. Success can only be achieved as a result of the commitment to never-ending improvement and keeping a step ahead of your competition.
How To Succeed Online
There are many home-based business sites on the Internet that have been quietly making profits despite the slowing global economy. They may not be heralded by the press as great successes but they do generate consistent revenue. We too can learn to profit on the Net by following a few basic guidelines:
1. Find a suitable and promising niche. Niche marketing entails offering unique products or services to a few concentrated markets. Whether on or off the Internet, this is a less risky strategy and provides the best opportunities for small businesses in any marketplace. Make sure, however, that you acquire the necessary expertise to excel in your chosen niche market.
2. Be conscious of your budget. To be a successful Internet entrepreneur, you must be frugal. Avoid unnecessary expenses in the beginning, particularly if you are operating on a shoestring budget. The key to success on the Internet is to treat it just like any old-fashioned business: minimize costs and maximize profits.
3. Expand slowly. Entrepreneurs working on smaller niche markets and tighter budgets have no choice but to grow slowly. Be content with the business growing steadily if not rapidly. Don't compromise on quality - the personal care that you give to every customer is what can make your business successful. Give your customers a unique personal experience and create customer loyalty.
4. Avoid keeping inventory. As part of the strategy to keep the costs down, one of the things a start-up Internet entrepreneur must avoid is keeping a huge stock of inventory. While in its infancy, an Internet site is still struggling to find its audience. Keeping a huge inventory at this point may mean that a lot of money is tied up unnecessarily.
To get around this problem, you can employ two approaches: order as you need or purchase small quantities at a time. Ordering as you need is where you download orders off the Internet, and convert them into purchase orders to the manufacturer. Alternatively, buy smaller quantities. Establish relations with small manufacturers. Start small. Paying very small money and paying things upfront eases your cash flow and establishes good rapport with your suppliers. You can steadily increase your stock as your customer base grows.
At http://www.malaysiancraft.com/ for example, arts and crafts from different vendors are featured. The company does not have to stock up on the products and only needs to inform the respective vendors of orders as and when received. It saves both parties the cost of production as well as keeping stock.
5. Provide excellent customer service. Good online businesses rely on customer relationships built upon mutual advantage and trust.
It is much more difficult to give the personal touch when there are 50 or 100 orders a day, than it is when there were 10 or 12 but try and see to it that all inquires are promptly attended to. The personal touch always works. The old fashioned idea of being kind, courteous, and respectful, and treating your customers just as you would like to be treated will win you more customers. Spending millions of dollars to get everybody to your site is not the answer. It is more important to take exceptional care of the customers that do come.
Aside from personal touches, prompt delivery and fast response time to customer inquiries, you can use promotions designed to keep the customers that you have. For example, award loyalty points to regular customers and show them that you appreciate their repeat business.
6. Maintain quality. Competition on the Internet is tough. Your customers can simply leave your site and find your competitor at the click of a mouse. It is therefore imperative that you ensure the quality and consistency of your products or service. You do not have to have the best-looking Web site in your category, but make it a point to give the best value to your customers. Subang Grocer.com which has extended its services from delivering groceries to tying up with laundry and housekeeping services or even Nestlé, who gives value added information to its users on its website, are good models to emulate.
7. Diversify to different revenue streams. The Web gives you the ability to diversify your company’s offerings, allowing you to earn money from various sources. A good example is Yahoo!, for instance, which now earns from a variety of means like banner advertising, directory listing, Yahoo! stores, auctions and even website hosting.
Home-based online businesses, particularly start-up businesses, may not have the ability to implement different revenue models simultaneously. However, those of you who have gained an understanding of your markets can begin to expand your offering to several niche products that have great market potential.
8. Use many distribution channels. The Internet can go hand-in-hand with other distribution channels. Savvy net entrepreneurs understand the power of cross-distributing products. Customers’ overall loyalty increases if they can shop in more than one channel. For example, you can also combine the power of the Web with direct mail catalogs. This can lead to more Internet traffic and orders. The Web and catalog complement each other because many customers who receive catalogs are also Web users. Even if they get your catalog, they may order on the Web, thanks to the convenience it offers.
9. Watch out for fraud. Credit card fraud can cause great losses to an online business. Chargebacks can be costly and businesses can suffer massive losses as a result of credit card fraud. You must devise ways to protect yourself and your business against unscrupulous Web customers. Using reputable online payment gateway companies may be a possible solution to this problem.
The other way to get around this problem, as done by many local companies, is to accept cash on delivery for all orders. Some also accept payments by cheque. This may not be the wisest approach for all sales but may be considered for customers who are reliable and make repeat orders. Trial and error and a combination of different methods may be required to determine what works best for your own unique line of business.
10. Implement effective marketing campaigns. No matter what type of business you operate, how, why and where you advertise will play a role in your overall success. It would be wrong to assume that with so many people online at agiven time, they would somehow come across or stumble on your site. This will not happen with no effort from you. It takes a long time and considerable effort, but once you put in a lot of hard work, it pays off. An online entrepreneur with a limited budget must learn to identify the marketing strategies that will yield the best results for the business.
11. Network. Partnerships can be a boon in e-business. The right partner can help an online business achieve its marketing and technological objectives.
From designing and developing your site to marketing your products, others can lend a valuable helping hand and provide a strong support system for your business. Cross promotions with other e-businesses who have online businesses with the same target market is a good marketing strategy to adopt.
Network as much you can with fellow e-preneurs. Your neighbors, family and friends may not be able to give you the valuable insights and feedback that your e-colleagues can.
1. Find a suitable and promising niche. Niche marketing entails offering unique products or services to a few concentrated markets. Whether on or off the Internet, this is a less risky strategy and provides the best opportunities for small businesses in any marketplace. Make sure, however, that you acquire the necessary expertise to excel in your chosen niche market.
2. Be conscious of your budget. To be a successful Internet entrepreneur, you must be frugal. Avoid unnecessary expenses in the beginning, particularly if you are operating on a shoestring budget. The key to success on the Internet is to treat it just like any old-fashioned business: minimize costs and maximize profits.
3. Expand slowly. Entrepreneurs working on smaller niche markets and tighter budgets have no choice but to grow slowly. Be content with the business growing steadily if not rapidly. Don't compromise on quality - the personal care that you give to every customer is what can make your business successful. Give your customers a unique personal experience and create customer loyalty.
4. Avoid keeping inventory. As part of the strategy to keep the costs down, one of the things a start-up Internet entrepreneur must avoid is keeping a huge stock of inventory. While in its infancy, an Internet site is still struggling to find its audience. Keeping a huge inventory at this point may mean that a lot of money is tied up unnecessarily.
To get around this problem, you can employ two approaches: order as you need or purchase small quantities at a time. Ordering as you need is where you download orders off the Internet, and convert them into purchase orders to the manufacturer. Alternatively, buy smaller quantities. Establish relations with small manufacturers. Start small. Paying very small money and paying things upfront eases your cash flow and establishes good rapport with your suppliers. You can steadily increase your stock as your customer base grows.
At http://www.malaysiancraft.com/ for example, arts and crafts from different vendors are featured. The company does not have to stock up on the products and only needs to inform the respective vendors of orders as and when received. It saves both parties the cost of production as well as keeping stock.
5. Provide excellent customer service. Good online businesses rely on customer relationships built upon mutual advantage and trust.
It is much more difficult to give the personal touch when there are 50 or 100 orders a day, than it is when there were 10 or 12 but try and see to it that all inquires are promptly attended to. The personal touch always works. The old fashioned idea of being kind, courteous, and respectful, and treating your customers just as you would like to be treated will win you more customers. Spending millions of dollars to get everybody to your site is not the answer. It is more important to take exceptional care of the customers that do come.
Aside from personal touches, prompt delivery and fast response time to customer inquiries, you can use promotions designed to keep the customers that you have. For example, award loyalty points to regular customers and show them that you appreciate their repeat business.
6. Maintain quality. Competition on the Internet is tough. Your customers can simply leave your site and find your competitor at the click of a mouse. It is therefore imperative that you ensure the quality and consistency of your products or service. You do not have to have the best-looking Web site in your category, but make it a point to give the best value to your customers. Subang Grocer.com which has extended its services from delivering groceries to tying up with laundry and housekeeping services or even Nestlé, who gives value added information to its users on its website, are good models to emulate.
7. Diversify to different revenue streams. The Web gives you the ability to diversify your company’s offerings, allowing you to earn money from various sources. A good example is Yahoo!, for instance, which now earns from a variety of means like banner advertising, directory listing, Yahoo! stores, auctions and even website hosting.
Home-based online businesses, particularly start-up businesses, may not have the ability to implement different revenue models simultaneously. However, those of you who have gained an understanding of your markets can begin to expand your offering to several niche products that have great market potential.
8. Use many distribution channels. The Internet can go hand-in-hand with other distribution channels. Savvy net entrepreneurs understand the power of cross-distributing products. Customers’ overall loyalty increases if they can shop in more than one channel. For example, you can also combine the power of the Web with direct mail catalogs. This can lead to more Internet traffic and orders. The Web and catalog complement each other because many customers who receive catalogs are also Web users. Even if they get your catalog, they may order on the Web, thanks to the convenience it offers.
9. Watch out for fraud. Credit card fraud can cause great losses to an online business. Chargebacks can be costly and businesses can suffer massive losses as a result of credit card fraud. You must devise ways to protect yourself and your business against unscrupulous Web customers. Using reputable online payment gateway companies may be a possible solution to this problem.
The other way to get around this problem, as done by many local companies, is to accept cash on delivery for all orders. Some also accept payments by cheque. This may not be the wisest approach for all sales but may be considered for customers who are reliable and make repeat orders. Trial and error and a combination of different methods may be required to determine what works best for your own unique line of business.
10. Implement effective marketing campaigns. No matter what type of business you operate, how, why and where you advertise will play a role in your overall success. It would be wrong to assume that with so many people online at agiven time, they would somehow come across or stumble on your site. This will not happen with no effort from you. It takes a long time and considerable effort, but once you put in a lot of hard work, it pays off. An online entrepreneur with a limited budget must learn to identify the marketing strategies that will yield the best results for the business.
11. Network. Partnerships can be a boon in e-business. The right partner can help an online business achieve its marketing and technological objectives.
From designing and developing your site to marketing your products, others can lend a valuable helping hand and provide a strong support system for your business. Cross promotions with other e-businesses who have online businesses with the same target market is a good marketing strategy to adopt.
Network as much you can with fellow e-preneurs. Your neighbors, family and friends may not be able to give you the valuable insights and feedback that your e-colleagues can.
Making Use Of The Web For Your Home-Based Business
The Web is an inviting medium for starting a business for many first-time business owners. This option has opened many doors and opportunities for the small entrepreneur. The lower overhead costs, the ability to reach a wide audience and the marketing potential of the Web are attractive. The idea of "earn even while sleeping," is particularly inviting.
Generally, small and home-based businesses can use the Web in three different ways:
The Starting Point
While it is true that there are many benefits to conducting a small business online, the fact is, it takes more than a web presence to earn on the Internet. The normal rules of running a business offline also apply to running a business on the Web.
You need to create compelling reasons for customers to patronize your business and buy your products or services. You need to possess good customer service, listen to what your customers want and work twice as hard as your offline counterparts to interest and hold your customers. Surfers and shoppers on the Web seem to have shorter attention spans and can easily move from one site to the next. How to keep them in your site is something you need to work at.
Take for example the Nestlé site. It not only has information on the company and its products but also gives the viewers additional information they can use such as nutrition tips, information on childcare, pet care and even recipes! These additional features keep bringing viewers back to the site and will give you an idea of what you could incorporate within your site to increase its ‘stickiness’ or attractiveness.
A local example would be a site on garden fertilizers. With additional information like the gardening tips provided, viewers are tempted to explore the site. Therefore, home business owners with specialized products can similarly leverage on their own area of specialization by giving viewers extra benefits on the site, be it information or advice.
Business Extension
Many small and home-based businesses operating in the real world find that they need to jump into the Web bandwagon to stay competitive.
While your offline business may be operating successfully, you can use the Web to increase your revenue stream and attract new clientele for your business. You can use your site as a showcase for your products and your offline stores. In addition, you can create provide additional services such as an educational forum or an advice column for your existing and potential customers. Here again Garden Fertilisers gives you an idea of how this can be done.
However, it is important to point out that it takes more to successfully expand a business on the Web than merely putting your catalog or brochure online. Small and home-based businesses need to change their mindset to learn how Internet buyers shop and what they expect from online retailers. A more personalized customer service is one of the common strengths of the smaller businesses. For example, the online grocery vendor at Subang (http://subanggrocer.com) also incorporates online ordering, online payments and even home delivery services. They are now trying to incorporate other online facilities such as laundry services with pick up and delivery services included.
Business Support
Small and home-based businesses may not necessarily use the Internet to sell. You may simply want a Web presence to support your existing operations. Your site can be designed to provide an overview of your business or service, serve as a contact point for existing and potential customers, and be a vehicle for reaching new markets.
You can continue to do the bulk of your business offline, but still use the many benefits a Web presence can create for your business. You can use your site to inform clients of new products, provide greater product or service explanations, and provide a forum to interact with them. The site becomes an extension of your customer service strategy, offering an easy access to customers.
You can also use your Web site as an interactive marketing brochure (without the costly reprinting charges of a printed brochure). Whether your clientele are local or global, the Web provides an excellent place for telling potential customers everything they need to know about your business. Many small and home-based businesses are finding out that the Web can be a great venue for showing samples of your products, price listings, and even to display customer testimonials, with the hope of winning more customers.
A good local example showcasing these features would be the site, flowerdrum bags and accessories, the site of a home-based business specializing in custom-made bags. The site is used to showcase products and to inform potential customers about its services, providing contact details. The bulk of the activities for this business is still done offline.
Generally, small and home-based businesses can use the Web in three different ways:
The Starting Point
While it is true that there are many benefits to conducting a small business online, the fact is, it takes more than a web presence to earn on the Internet. The normal rules of running a business offline also apply to running a business on the Web.
You need to create compelling reasons for customers to patronize your business and buy your products or services. You need to possess good customer service, listen to what your customers want and work twice as hard as your offline counterparts to interest and hold your customers. Surfers and shoppers on the Web seem to have shorter attention spans and can easily move from one site to the next. How to keep them in your site is something you need to work at.
Take for example the Nestlé site. It not only has information on the company and its products but also gives the viewers additional information they can use such as nutrition tips, information on childcare, pet care and even recipes! These additional features keep bringing viewers back to the site and will give you an idea of what you could incorporate within your site to increase its ‘stickiness’ or attractiveness.
A local example would be a site on garden fertilizers. With additional information like the gardening tips provided, viewers are tempted to explore the site. Therefore, home business owners with specialized products can similarly leverage on their own area of specialization by giving viewers extra benefits on the site, be it information or advice.
Business Extension
Many small and home-based businesses operating in the real world find that they need to jump into the Web bandwagon to stay competitive.
While your offline business may be operating successfully, you can use the Web to increase your revenue stream and attract new clientele for your business. You can use your site as a showcase for your products and your offline stores. In addition, you can create provide additional services such as an educational forum or an advice column for your existing and potential customers. Here again Garden Fertilisers gives you an idea of how this can be done.
However, it is important to point out that it takes more to successfully expand a business on the Web than merely putting your catalog or brochure online. Small and home-based businesses need to change their mindset to learn how Internet buyers shop and what they expect from online retailers. A more personalized customer service is one of the common strengths of the smaller businesses. For example, the online grocery vendor at Subang (http://subanggrocer.com) also incorporates online ordering, online payments and even home delivery services. They are now trying to incorporate other online facilities such as laundry services with pick up and delivery services included.
Business Support
Small and home-based businesses may not necessarily use the Internet to sell. You may simply want a Web presence to support your existing operations. Your site can be designed to provide an overview of your business or service, serve as a contact point for existing and potential customers, and be a vehicle for reaching new markets.
You can continue to do the bulk of your business offline, but still use the many benefits a Web presence can create for your business. You can use your site to inform clients of new products, provide greater product or service explanations, and provide a forum to interact with them. The site becomes an extension of your customer service strategy, offering an easy access to customers.
You can also use your Web site as an interactive marketing brochure (without the costly reprinting charges of a printed brochure). Whether your clientele are local or global, the Web provides an excellent place for telling potential customers everything they need to know about your business. Many small and home-based businesses are finding out that the Web can be a great venue for showing samples of your products, price listings, and even to display customer testimonials, with the hope of winning more customers.
A good local example showcasing these features would be the site, flowerdrum bags and accessories, the site of a home-based business specializing in custom-made bags. The site is used to showcase products and to inform potential customers about its services, providing contact details. The bulk of the activities for this business is still done offline.
Home Businesses And The Internet
Internet Technology and Home Businesses? Most people assume that it’s not exactly the stuff dreams are made of, especially if you are technologically challenged! Perhaps it is time for a rethink.
The Internet revolution has made so many inroads into the world of business that you can no longer afford to ignore it. It is now as essential a tool as the phone, fax or even your old handy typewriter. It has also spawned a whole new way of conducting businesses, which may be a boon to those of us who wish to work from home. It is an enabler that has opened the doors to Aladdin’s cave of treasures as far as businesses opportunities are concerned. It may be the very tool you need to succeed in your home-based business!
Today, many small businesses thrive on the Internet. They may not be huge e-commerce success stories but many small and home-based businesses are finding a wealth of opportunities on the Web. These small businesses may not have mass recognition nor the sophisticated technologies of their deep-pocketed counterparts, but they thrive, and many, rather profitably.
Their secret is simple; they have discovered that ‘niche’ rules on the Internet. The Web is known as a great place to reach very specialized markets and this has greatly benefited small companies. On the Internet, customers find it easy to locate specialized products and services that are difficult to find elsewhere. Many small and home-based businesses have found that they can make the Internet a profitable venue for finding customers and selling them their own unique brand of products and services.
With their more limited resources, smaller companies find that focusing and specializing on a specific product line online brings them great dividends. Take for example the following: Sanders Handcrafted Toys - a site focusing solely on handcrafted wooden toys; Trains4Tots - an online store that focuses on toy trains but also offers other toys and other sites in Malaysia such as Ryzan Design which sells Malaysian traditional design vases or Craft-World.net, a site that aims to be a virtual one-stop craft shop. In Malaysia, even though print and other media have not been totally supplanted by the Internet, there is a definite trend towards the increased use of the Internet as an alternate medium for marketing and selling.
General Benefits Of Doing Business Online
Generally, most potential home business owners are attracted to the extensive market available via the Internet. This is by no means the be all and end all of the benefits of doing business over the Internet. Other basic benefits you can take advantage of when you decide to use the Internet for your business includes:
Low start up costs – It reduces the need for a physical set-up and all the associated costs.
Access to new channels for sales and marketing and advertising - Both local and global markets are easily accessible online.
Cost and time savings – Online brochures are relatively fuss-free and online sales are quick, efficient and cost-effective.
Longer business hours (24/7) - The Internet never goes to sleep.
Generation of leads – The Internet gives you access to databases which you can exploit to your advantage.
Meet customer’s expectations – You have better communication with your customers with the choice of both online and offline interaction.
Market research opportunities – You can use online tools such as online surveys and polls and even test markets.
Despite these advantages, it is still essential that you learn the basics of doing business on the Internet and how you can exploit these advantages to your benefit in order to succeed. The fastest route would be to learn from those who are successful, exchanging ideas with or getting new ideas from top marketers in the business and finally, applying and testing your ideas in the real world by investing time and money.
The Internet revolution has made so many inroads into the world of business that you can no longer afford to ignore it. It is now as essential a tool as the phone, fax or even your old handy typewriter. It has also spawned a whole new way of conducting businesses, which may be a boon to those of us who wish to work from home. It is an enabler that has opened the doors to Aladdin’s cave of treasures as far as businesses opportunities are concerned. It may be the very tool you need to succeed in your home-based business!
Today, many small businesses thrive on the Internet. They may not be huge e-commerce success stories but many small and home-based businesses are finding a wealth of opportunities on the Web. These small businesses may not have mass recognition nor the sophisticated technologies of their deep-pocketed counterparts, but they thrive, and many, rather profitably.
Their secret is simple; they have discovered that ‘niche’ rules on the Internet. The Web is known as a great place to reach very specialized markets and this has greatly benefited small companies. On the Internet, customers find it easy to locate specialized products and services that are difficult to find elsewhere. Many small and home-based businesses have found that they can make the Internet a profitable venue for finding customers and selling them their own unique brand of products and services.
With their more limited resources, smaller companies find that focusing and specializing on a specific product line online brings them great dividends. Take for example the following: Sanders Handcrafted Toys - a site focusing solely on handcrafted wooden toys; Trains4Tots - an online store that focuses on toy trains but also offers other toys and other sites in Malaysia such as Ryzan Design which sells Malaysian traditional design vases or Craft-World.net, a site that aims to be a virtual one-stop craft shop. In Malaysia, even though print and other media have not been totally supplanted by the Internet, there is a definite trend towards the increased use of the Internet as an alternate medium for marketing and selling.
General Benefits Of Doing Business Online
Generally, most potential home business owners are attracted to the extensive market available via the Internet. This is by no means the be all and end all of the benefits of doing business over the Internet. Other basic benefits you can take advantage of when you decide to use the Internet for your business includes:
Low start up costs – It reduces the need for a physical set-up and all the associated costs.
Access to new channels for sales and marketing and advertising - Both local and global markets are easily accessible online.
Cost and time savings – Online brochures are relatively fuss-free and online sales are quick, efficient and cost-effective.
Longer business hours (24/7) - The Internet never goes to sleep.
Generation of leads – The Internet gives you access to databases which you can exploit to your advantage.
Meet customer’s expectations – You have better communication with your customers with the choice of both online and offline interaction.
Market research opportunities – You can use online tools such as online surveys and polls and even test markets.
Despite these advantages, it is still essential that you learn the basics of doing business on the Internet and how you can exploit these advantages to your benefit in order to succeed. The fastest route would be to learn from those who are successful, exchanging ideas with or getting new ideas from top marketers in the business and finally, applying and testing your ideas in the real world by investing time and money.
Subscribe to:
Posts (Atom)