Ten keys to making money in E-business
There is no real secret to making in Ebusiness There are just well-known key factors that must be met in order for you to achieve ebusiness success. If your ebusiness doesn't meet these key factors then it is bound to fail. Without further ado, here are the Top Ten Keys to ebusiness Success...
Ebusiness Key #1: Provide Value
Let's look at two of the most successful ebusiness ventures: Yahoo and Amazon.com. Why are they so successful? They provide tremendous value to the Web. That's what they've been doing all along. Your website must provide free resources, foster a sense of community and show real value to your visitors. Without useful information and real content, your website will just be background noise. Provide real value and the revenues will follow.
Ebusiness Key #2: Quality Presentation
Providing content, community, and utility is not enough. It must be presented well. Quality means fast, clear web design that looks good and is easy to understand. It should be easy on the eyes, as well as the brain. Your ebusiness users will make quick determinations about the quality of your site. High quality will result in repeat visitors and more traffic. The word about your awesome ebusiness site will spread!
Ebusiness Key #3: Be Unique
Your ebusiness site must be unique. You should own something no one else has. In most eBusiness opportunities you're nothing but pitching something you don't even know anything about with a web site that looks exactly like thousands of others. It's depressing to see people waste their money promoting some "get rich quick scheme" or advertising the same programs as everyone else. Not to mention those ripoff cybermalls. So, if you don't have your own unique website which fosters the Five C's (content, community, consistency, capability and commerce) then you're nothing but a cyber-static salespitch.
Ebusiness Key #4: Build Your Brand
Why is Yahoo! valued so high? It's the brand name. Yahoo! is now virtually synonymous with the Internet. Amazon.com has also attained great name recognition. Both companies have formed a name that people can easily remember and with a comfortable ring to it. Today the key success factor is not about gaining market share, but rather gaining "mind share." This means brand recognition. Your ebusiness' name needs to be catchy and meaningful. Your name needs to express a feeling or image in the mind of the consumer. For example, the name Yahoo! is exciting and makes me feel like I've struck gold. The name Amazon.com paints a picture in my head of a vast and great jungle where anything is possible.
Ebusiness Key #5: E-commerce
Let's face it. E-Commerce is here to stay. According to Forrester Research, Online retail sales will hit $108 billion by 2003. Your ebusiness must have a fully-functional E-commerce system built into it. It's expected if you want to actually make sales through the web. Visitors need to be able to purchase your product or service at any time with just a click of a button. Your site needs to make shopping a fast, fun and easy experience. Cater to the impulse buyer and provide a simple yet effective shopping cart system. How else do you expect to make any money on the Net?
Ebusiness Key #6: Form Affiliations
One of Amazon's biggest success factors is their affiliate program. Wherever we go there's an Amazon book being sold on a website. It is so important to form solid partnerships and affiliations. Set up your own ebusiness affiliate program and you might just see your profits soar. Develop joint venture partnerships with those web sites that fit with the "theme" of your ebusiness. Remember, you won't survive very long if you're trying to do it all by yourself.
Ebusiness Key #7: Technological Knowledge
No one accomplishes all of the above key factors without substantial technical know-how -- or at least ready access to it. It goes without saying Yahoo! and Amazon.com have many very technically savvy people on staff. Surely you wouldn't expect to build a substantial e business without doing the same. Of course, you don't have to be a programmer, but you must have access to those people who can support you technically.
Ebusiness Key #8: Promote
Advertise! Promote! Tell the world about your ebusiness! And I don't mean spam. I'm talking about a constant, strategic and aggressive promotion by using opt-in lists, ezine advertising, classified advertising, search engines, targeted email marketing and other online promotional tools. Advertise your ebusiness on the radio, newspapers, and television. You have to let everyone know that you exist and that you mean business. A web site is, in reality, infinitesimal bits of data buried in a computer. It only means anything if people come see your site.
Ebusiness Key #9: Patience
You have to be patient and think long-term. It takes a lot of hard work to be successful in ebusiness and it won't happen overnight. Plan ahead. Focus on your strategy and develop the right moves for the right time. Take your ebusiness step by step and you'll be greatly rewarded. I see too many people trying to make that fast, quick buck without putting much work into it. It's just not going to happen that way.
Ebusiness Key #10: Investment
In order to reach your goals and dreams, you have to invest time and money. If you're short on finances, then try to gather friends, family or investors to fund your ebusiness project. If you think you have a really great idea then you should approach angel investors and venture capital firms. According to the Small Business Administration, angel investors pour as much as $20 billion a year into some 30,000 small companies.
eBusiness Promotion Guides
The following guides will help you manage a successful ebusiness promotion campaign (these guides are all part of the Managing a Small Business CD-ROM. Click Here! to check it out. You'll be glad you did):
Basics of eBusiness Promotion
Read this guide before you start your website promotion. It covers the basic essentials of an Internet based promotion.
Search Engine eBusiness Promotion: Getting Top Search Engine Positioning
Over 80% of Web users find what they are looking for by visiting the top 6 search engines. Here's a guide that will teach you how to position your website at the top of search engine results.
Tips for eBusiness Promotion
You have a website, but it isn't getting the number of visitors you'd like. What can you do to stimulate traffic? Here's 9 items you need to consider. While we're not breaking any new ground here, we've tried to summarize some of the most important techniques.
eBusiness Email Marketing Methods
Email is one of the best marketing tools available to ebusiness marketers, here's how you can use it to your advantage.
Best Affiliate Programs
Reseller programs (also called affiliate or associate programs) are an exciting way for ebusiness owners to earn cash, Here's a list of the reseller programs that work best for us.
Source: Businesslead
| DISCLAIMER: The content provided in this article is not warranted or guaranteed by Developer Shed, Inc. The content provided is intended for entertainment and/or educational purposes in order to introduce to the reader key ideas, concepts, and/or product reviews. As such it is incumbent upon the reader to employ real-world tactics for security and implementation of best practices. We are not liable for any negative consequences that may result from implementing any information covered in our articles or tutorials. If this is a hardware review, it is not recommended to open and/or modify your hardware. |
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