At the seminar I learned how to create Digital Informational Based Products such as eBooks, audio files, MP3s, digital videos, photo stocks, e-learning courses, travel maps, interactive animation etc. These were all products that customers could purchase and download from the Internet. I also learnt that I could market packages by experts on my websites.
The course was fruitful indeed. You can find similar programs and various affiliate products on my website at www.blogbymillion.com There, you will also learn about various techniques like adwords, adsense, affiliate marketing concept etc.
Updated Blogging tips to get hubbing on the Internet
This eBook is meant to provide you with a clear overview of Internet marketing through blogging and social networking and also the steps to help you succeed in cyberspace. In addition, you will learn how to use the World Wide Web to your advantage and get an insight into the exciting world of the Internet. Practice what you learn here, and you will be able to sell your products online as well as get into affiliate marketing through Search Engine Optimization (SEO). Once you have perfected your business set-up, it will pretty much run itself with little maintenance and supervision as you will be using an autoresponder. Once customers like your product the word will spread, and traffic to your website will increase.
2 Maximizing the Internet as a marketing medium
All business and marketing principles that apply in the business world globally are also applicable to business online. The only differences between the two are in the speed, cost and ease of execution. Online business is without doubt faster, cheaper and easier to conduct. The Internet is an information highway, and internet marketing is driven by information. It offers a faster, easier and more cost effective way to market and sell your product to a wider clientele using latest technological innovations and services not available offline. Worldwide, there are a potential 980 million users of the Internet, and they are accessible 24 hours a day, seven days a week, 365 days a year. Even better, their number grows by the thousand every day.
The Internet has surely changed the way we do business. It does not require a large capital or high operating expenses. Anyone can use it to start a business. All one needs is a laptop, fast broadband connection and a saleable idea. With the right technique and method, anyone can generate a fortune online. The four tips I shared in the first chapter of this book lay the foundation for your entrance into Internet marketing. The only other thing you will need is your commitment to acquire the necessary knowledge, attitude and Mindset. Once you have these, you WILL make it!
Setting up a business
You will be borrowing concepts and principles from offline business and marketing strategies, but you will be adapting them to suit the innovations of cyberspace wheeling and dealing. As with any offline business, you will need to deal with parties such as banks and, accountants, and you may need to appoint a company secretary. You will also need to decide on a business structure, which could be based on any one of the following models:
i) Operate as an individual i.e. as a sole trader. This is the simplest way to start, own and run a business as well as to keep your administration and legal costs to a minimum. Profits made are usually yours. However, the downside is that the burden of any debt you acquire will also have to be borne solely by you. That can be a heavy responsibility.
ii) Form a partnership with two or more like-minded persons. Here, you will have to share profits, but you will also not have to bear all the responsibility yourself or do all the work yourself. The risk for each partner is also reduced as each only comes up with a portion of the capital and investments. Additionally, more heads can mean better management and greater creativity and ideas. However, there is always the possibility of disagreement and misunderstanding creeping up among partners that can ruin business relationships and affect the business. That can be a headache.
iii) Incorporate a Limited company. This, however, can complicate things as you may require a solicitor and an accountant to help overlook your accounts. You will also have to submit regular financial statements to specific regulating bodies. The capital of a Limited company is made up of shares of a fixed amount. As a Director of a Limited company you will not be personally responsible for debts incurred by the business. Neither can shareholders be held liable for debts incurred or loans taken by the company.
Before registering a company, work out a business plan in which you list down your goals for your business. A good business plan should comprise the following:
- A saleable idea for your business idea and your objectives in setting up - this business -- choose a business related to your core skill or interest. Core skills are the main skills you possess i.e. the skills at which you are best. This guarantees that you have the most important resources ready at hand.
- A marketplace you have targeted – research the market from every - angle, especially the competition and the pitfalls of being in such a market as well as how to escape or climb out of them. This ensures that you have a definite idea of what you are getting into and you will be up against.
- A category for your product or service that can find a place or niche in - the market you have targeted
- A strategy to market your product - be sure to consider price
- Financial assistance - look for ways to fund your business
- Miscellaneous details
Operating expenditure, cash flow and taxation
Running an online business involves many of the factors and provisions linked to running an offline business. Three of these that you must consider are operating expenditure, cash flow and taxation. Here are some matters related to these three extremely important considerations:
i) Location of retail outlet – Start small but find a good location that is easily accessible and unhindered by traffic congestion
ii) Staff – You may need to employ staff when your business grows to a level where you need help running it. In that case, take into account that you will have to pay salaries and certain benefits as well as provide certain benefits.
iii) Keep proper records of your transactions. Stay in control of your funds, and know how you are spending your money. You must be in control of the cash flow of your business.
iv) Keep track of taxation requirements such as income tax, value-added tax, goods and services tax, employee contributions etc.
v) You may keep a simple set of accounts as a sole trader, but when your company grows, book-keeping may become more complicated. Be sure to find out the taxation requirements of the different
