Posts Tagged ‘Nature Of The Business’

The Truth About Online Business

Wednesday, November 18th, 2009

Online Business is not a difficult thing to do, and really anybody can do it, but if you don’t know how, then regardless of the nature of the business, it will be hard for you to achieve your goals even if you have the magical product or service. I am sure that many try to answer the “how” question by bombarding you with many e-mail messages telling you all different sorts of ways to market or advertise online, and each way is said to be the best way that can generate traffic, sales, exposure ?etc.

But talking about “how” to promote or market your online business means that we are jumping too many steps ahead. Before the “how,” there is a “what” that we need to answer. You need to assess yourself first and not the idea or opportunity. So before venturing into the ins and outs of internet marketing, you should first venture into knowing “what” are your own beliefs and expectations.

If you are interested and serious about establishing a home based business and to enable you to proceed on solid grounds we need to erase some false perceptions and agree about few others regarding the nature of home based business or online business. The points that we need to clear out are as follows:

1- There is no such thing called a get rich quick program. The concept simply does not exist. When you read “Start earning now,” it really means that you can start your business now, but the money will not come in “NOW.”

2- There is no program that will give us $5000 a month within six months of starting the business. Some people might be able to achieve that, but that is not a general rule that we can depend on.

3- There is no business that does not require effort. At least in the building stage. There is a lot to learn, read and research.

4- There is no business that does not require time. You should be prepared to spare at least 2-3 hours a day for your business, and with these 2-3 hours don’t expect miracles. This means that you are really taking your time and the business will see results any time soon. Still you will need to know that with this amount of time you will be establishing yourself as an internet marketer but at a slow pace.

5- There is no business that does not require money. Seriously speaking, online business and home based business in general is by nature a low investment industry. Still low investment does not mean for free. You will need to budget $300 - $500 a month to be able to work in this industry, and do not believe anybody who tells you otherwise.

The initial investment might be $100 or even less, but what about all the marketing activities and the advertising that you will need to do. This requires money, and only if you were able to budget for the above amounts you will be able to get your business off the ground.

Even if you are not going to use paid advertising and you will only use free methods ? which are very effective by the way ? you will need to buy software programs that will enable you to use your limited 2-3 hours efficiently and effectively.

6- You will need to expect to spend the above amounts for several months before expecting any kind of revenue. Don’t forget that you will have to walk through the learning curve first before any revenue is expected let alone profit.

My genuine advice to you would be not to enter into any online business idea or venture if you are not able to meet the above requirements and beliefs.

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Find Your Niche - The Internet Marketer’s Goldmine

Friday, November 13th, 2009

If you haven’t heard the word ‘niche’ being batted around by Internet Marketers then you haven’t been listening. Finding a niche has become the antidote to competing in overly saturated online markets.
What is a niche?

According to Merriam-Webster’s Online Dictionary a niche is described as “a place, employment, status, or activity for which a person or thing is best fitted… a specialized market”.

Have you noticed that despite the closing of many businesses in these harsh economic times, the local hobby train store is still around? That the ‘hole-in-the-wall’ eatery is thriving? Or that trends such as scrapbooking can start with a bang and still close within a year when four similar businesses start up in the same area?

The online business world reflects the same trends as experienced in the offline world - often with faster turnover and startup rates. Those who promote a product or site that targets a small, select audience can tap into a market that is otherwise not being served. Despite the limitations of the client base, the targeted nature of the business creates a devoted and active market - the aim of any business.

HOW DO I FIND A NICHE?

Finding a niche requires diligent research. Whether you have access to software that harvests and sorts information or you take a manual approach you must first start with ideas.

With a pen and paper (or computer, if that’s more comfortable) brainstorm a list of businesses, products and industries. Create a list of keywords and phrases you think would be used by individuals looking for these items online.

Use a software program such as Wordtracker or a free resource such as the Overture Keyword Selector Tool to find keywords for your niche that have a high amount of traffic.

Although a program like Wordtracker makes it easy to find details such as how many sites compete for that market, you can also do your own research.

Concentrate your attention on question phrases such as “how do I…” or “where can I…”. These questions will clue you into potential markets that need servicing.

Next, look in Google Answers. Type one of your keywords into the search area. What questions are being asked and how much are people willing to pay for answers? If you find a group of keywords with a high number of questions then enter these words in your browser’s search engine.

What sites come up? Do they provide answers or solutions to the problem? How are they making money? Can you see an opportunity to service these individuals?

Finding a niche can open the door to a profitable online business. Research the market and be certain that your product or service is valuable to this group. Find forums or groups that target this audience and pay close attention to their concerns.

If you can help these people you WILL make money. The best of both worlds!

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