Best Online Business Ideas to Start an Internet Business

It is true that experience is the best teacher so, is it whenever it comes to online business to always good to stick with the ideas of the masters who have traded online and are still exploiting the benefits that the system has to offer.

Although you might be new and unfamiliar with popular trading site such as eBay and Craigslist you will definitely understand why some people are more successful in the business owing to their versatility in affiliate marketing or blogging which are potential internet money spinners.

One of the cardinal things you need in order to succeed in any business is to develop a vision which should propel you to succeed backed up by your intrinsic passion to take care of the business.

In talking about your goals for the business they must be realistic and also ensure that at every point in time there is a back up plan to take care of any fall out from unforeseen situations resulting from unfavorable business environment. When starting online business, you need to equip yourself with relevant information about the business you intend to invest in so that it will enable you make informed decisions about relevant market situations which will guide the growth of your business.

The internet is always a useful resource to acquire such information but this in itself will not be enough because you will need to get training materials which will address the specific need of the business man who needs an instructive guide as to what is expected to be done.

Research on the internet will also expose you to the intricacies of affiliate marketing so that you are able to grasp the ideology behind some actions in the market place. For instance, it is only those who do not wish to interact directly with their client’s customer while promoting their product that get involved in affiliate marketing so you need to understand this situation if not you will miss out on business a times when you fail to comprehend this fact.

In the event where you are contemplating coming up with a product to promote online you need to be sure about what type of good or service you want to deal in and this involves picking on a niche area where your market can identify with you.

A major decision needs to be arrived at in order to determine the best strategy for your business so you would want to know if getting direct visits will pay off or rather to just offer the link of the company who is offering the product.

There are advantages and disadvantages to this strategy but if we must limit ourselves to the long term objective it will be beneficial to deal directly with the clients so that you can have their details with which you could use in contacting them later in future.

When promoting products online it is instructive to always pick on quality products to market or promote because from experience it has being discovered that certain product are not really worth the value placed on them.

Export Marketing – How to Develop Products for Export

Before you think of developing a product for export or even adapting an existing one, it is important to make a distinction between a product and a product type. A motor vehicle is product type, but a “Toyota”, a very popular Japanese car, is a product.

New product types are rarely created. An exporter who can come up with a better version of an existing product will succeed as a market for such a product already exists. The manufacturers of Toyota have worked very hard to make their cars so popular although the vehicles are not much different from any others you find on our roads. But think of how much harder they would have to work to come up with a completely new mode of land transportation.

There is business in the re-modeling or re-packaging of existing products, that is, creating new products out of the existing ones. Sometimes only very minor adjustments are required, for example, using a colorless clear bottle for a whiskey that is traditionally sold in an opaque bottle.

If you decide to copy products of another manufacturer you will be running the risk of patent or copyright infringement. But you can avoid the risk and still exploit the success of a new product by making slight modifications in the design of the product you want to copy as long as you do not try to confuse the public into thinking that they are buying the original product.

The Product:

Any new product ideas should take into account the following factors:-

An understanding of how buyers conceive a product. This will include physical and non-physical elements such as the product itself, packaging, after sales service, brand name, the image it portrays and the benefits they expect out of using the product.
The product must be made to meet the standards and styling of the customer and not the manufacturer. This is the importance of a good market research.
Expected Life Cycle of the product. “Product Types” may go on for ever but “Products”, like all living things, progress in definite stages from birth to maturity, then death.
Possible patent or copyright infringement which may lead to legal action.
The Product Life Cycle:

Introduction: The product is launched and, if it finds buyers, sales rise slowly,
Growth: The product is becoming accepted and if it catches on, there is a period of rapid growth in sales. If it fails to catch on it should be withdrawn at this stage for possible modification or to try a different market.
Maturity: Sales growth reaches the apex and starts to slow down,
Stagnation: Sales level off and further expenditure on sales promotion become uneconomical.
Decline: Sales start to decline as demand for the product goes down
When stagnation starts, research should reveal the cause and corrective measures taken before the decline commences. A product may be given a new lease of life by being changed in some way, either substantially or just the way it is presented.

It is important to note here that although it is true that the life cycles of most products follow almost the same pattern, the length of the cycle itself varies greatly. For example, the life cycle of fashion dresses is relatively short compared to that of capital goods which, in some cases, may be as long as 20 years. Life cycles of particular products or product types may vary from country to country.

Once the product life cycle is understood, the planning of when to introduce a new product or make changes on the existing product can be done more accurately.

Festus Muga

Hello Fellow Small Scale Entrepreneur,

I am a freelance writer and have a wealth of experience in the Banking Industry. I have worked as a member of the management team of an international bank and am well versed in Business Development and Financing, Financing of Foreign Trade, Import/Export Processing and Documentation.

I have successfully managed an Export/Import Agency of my own which has given me quite an experience in the pros and cons of international business.

Launching a New Product Or Service – Things Two Types of Women Business Owners Should Consider

Launching a product is an important step in growing a business. If you’re already in the business of selling products, it’s an opportunity to expand into a new market. If your primary business is in services, offering a product is an opportunity to get beyond the “dollars for hours” trap and begin creating residual income. In either case, launching a product, or even a new service, takes time, forethought and a great deal of investment. And, while it’s exciting, it can be stressful, too.

A new study from Jane Out of the Box, an authority on women entrepreneurs, recently revealed there are five distinct types of women in business. Each of these five types has a unique approach to running a business-and as a consequence, each of them has a unique combination of characteristics and factors. This article profiles two important Jane “types” and the things they should keep in mind as they plan for (and launch) new products.

Jane Dough is an entrepreneur who enjoys running her business and makes good money. She is comfortable and determined in buying and selling, which may be why she’s five times more likely than the average female business owner to hit the million dollar mark. Jane Dough is clear in her priorities and may be intentionally and actively growing an asset-based or legacy business. It is estimated that 18% of women fall in the category of Jane Dough.

If you’re the Jane Dough type, chances are good you feel totally confident about this launch. You’re a big picture gal, and you probably believe this launch will benefit your business. But before you go ahead with it, here are some things to think about:

o Staying focused on the big picture means you may fail to truly analyze all the potential risks and benefits of your new product or service. Although you make good business decisions and are able to separate your business from your emotion, sometimes you move so fast you forget to consider all the angles.

o Have you adequately assessed your market? Do the parameters and features of price points associated with the product need to be tweaked? Are you reaching your target market with the right message? You’ve got plenty of business coming in and plenty of other plans in the works. That doesn’t mean you don’t need to yield to those caution signs. Slow down and analyze all the intricacies, colors and patterns that make up the big picture you love so much.

o What about the system around your launch? Have you taken the time to explain to your team what they need to do to make the launch a success? Having a system in place can prevent problems before they happen-and just thinking about that system can make you slow down enough to consider all the angles.

By taking the time to understand exactly how this new launch fits in-rather than staying focused on the big picture vision, and forging blindly ahead-you’ll be able to learn from possible mistakes before they happen.

Tenacity Jane is an entrepreneur with an undeniable passion for her business, and also one who tends to be struggling with cash flow. As a result, she’s working long hours, and making less money than she’d like. Nevertheless, Tenacity Jane is bound and determined to make her business a success. At 31% of women in business, Tenacity Janes are the largest single Jane type.

If you’re the Tenacity Jane type, you’re no stranger to challenge. But that doesn’t mean you should create another one for yourself. Before launching a new product or service, ask yourself some questions:

o Is adding a product or service a smart business decision, or is it just something you just really want to do? Tenacity Janes tend to love what they’re doing so much, and want it so badly, that emotions sometimes get in the way. The deep and abiding faith you have in your business and in yourself as an entrepreneur is what keeps you going-but it won’t launch a new product and keep it off the ground.

o Is the timing good for adding another output for your business? For Tenacity Jane, finances are an issue. If this product launch fails, will it put you out of business? Is this a risk you can afford to take right now, or should you put it off until your business more stable? A product launch can boost your business-but it also can suck your resources dry.

o Have you done enough research and planning? For some Tenacity Janes, their business results from a great concept but a poor plan. For others, they have a great idea but no clue how to run a business. Make sure all your ducks are in a row before you launch a product. What if your product takes off? Are you equipped to handle a huge increase in business? Remember, if things go well, you’re going to be swamped with more work. And if they don’t, you’re going to be out a lot of money. Either way, you need to be prepared.

o Are you looking at this possible product launch as just another challenge? Well, it’s not! Launching a new product is a big deal. Make sure you’re giving it enough thought, time and attention. We know you’re familiar with struggles, but launching a product has the potential to take up even more of your time, use up even more of your money and cause even more desperation. Make sure you’re ready!

Each Jane presented here-Jane Dough and Tenacity Jane-has several things to consider before launching a new product or service. Each entrepreneur must decide whether this is the right thing to do for her business-and for herself. Because in the end, isn’t that what this is all about? Asking herself the right questions and thinking about the right issues will allow every Jane, when the time comes, to move boldly forward in the future.