Internet Business Strategy

An Internet business strategy is the first thing that everyone should have in place before ever considering starting up an Internet business.

You need to have a clearly defined plan with set goals that can be achieved within a reasonable amount of time; this is not a get rich quick scheme however it is easily achievable with a little time and persistence.

Internet marketing is an easy Internet business strategy that almost anyone can follow and go on to be extremely successful in their Internet businesses.

Niche markets are a great way to specialise and dominate a specific niche market. By using your own specialised knowledge you can create a unique and loyal customer base who will give you repeat business.

We all have knowledge of various subjects which can range from taking care of your pets to restoring furniture or derelict properties.

You only need to think about the things that you enjoy doing, or are passionate about and enjoy talking about. These are your own unique niche markets that you can tap into.

The reason why this type of Internet business strategy works so well is because millions of people all over the world are looking for answers and solutions to problems that they have.

These people are happy to pay good money to you for resolving their problems and issues.

You have the choice to produce your own products which are usually in the form of a written document, a video, or an audio product.

You can also use ready made digital products which are freely available for you to promote. These are available from places like commission Junction and ClickBank.

Great thing about these products is that you never have to deliver the product or deal with returns, and you never have to deal with angry or obnoxious customers.

ClickBank and commission Junction will deliver the products for you and deal with your customers. In return for making a sale you will be paid a commission for your efforts.

By promoting monthly subscription products such as magazines and journals or tutorial courses you will receive a commission each month for as long as your customer subscribes.

This is a really nice way to earn a truly residual income, and by promoting more of these types of products you can quickly build a large monthly income.

This is another reason why I prefer this type of Internet business strategy as opposed to some of the more conventional businesses online.

Within a short period of time you will have your initial niche market up and running on virtual autopilot. Now is the time to start another niche market.

By building several niche markets you will start to produce multiple streams of income, and this is where the serious money is made.

One of the best things about this type of Internet business strategy is that the competition is usually always very low or non existent, and this will always give you the edge in this type of business.

Include CRM in Your Upcoming Business Strategy in 2014

We have all successfully sustained our businesses throughout the year 2013. We also have met the highs and lows of the businesses in the current year. Right now, these are the very moments when organizations plan and make business strategies based on the forecasting. Let’s welcome the year 2014 and go an extra mile towards delivering the best customer service to build a strong relationship with our customers.

Recognizing that customer is the king in today’s competitive market is very important. To cope with this fact, businesses choose such strategies that increases the customers’ satisfaction as well as business efficiency. Let’s take it as a challenge in the upcoming year as the number of competitors are increasing and the global market is completely divided. Having Customer Relationship Management (CRM) on board means that your business strategy comprises of technology to manage the customers and their information in a better way. The question is, why should we include web CRM in a business strategy? The answer is simple yet very common among all the different types of businesses. For instance:

  • To increase customer satisfaction
  • To have a 360 degree view of customer
  • To attract more customers
  • To track leads
  • To calculate the marketing return on investment

CRM provides your employees with the strategic business sense to understand their customers’ buying behavior in a better way and effectively create a strong bond between them and organization. Moreover, in most of the organizations, the customer information takes place in different silos managed by different departments. Web CRM helps to combine the information and enables it to share within the organization.

Easy Inclusion of CRM in Strategy:

Once you have considered your business flows and outputs, you can then think of adding the CRM to your strategy. It will ease the various routine business processes such as planning, converting leads to sales and ensuring customer satisfaction. It is mainly associated with the sales department but the practice of it goes beyond it. The business flows also includes how you interact with different departments and teams to meet overall goals.

Business with CRM in 2014:

The upcoming year comes along with various opportunities as well as threats for global market as well as business owners. Successful companies have realized the need of including Web CRM as their business strategy. Remember! CRM technology is easy to carry out but for some people, it is hard to get along with. Year 2014 is coming with such challenges and to stay competitive, your business strategy should have a CRM in place. Researchers believe that Customer Relation Management will meet a new era with regards to its usability, importance and efficiency.

3 Reasons an Internet Business Strategy is Crucial For Success

One of the things that many new Internet entrepreneurs miss is the importance of an overall Internet business strategy. The reason this is important for your online success is that by the very nature of doing business online, it is easy to get lost in the unimportant and non productive activities like surfing the web. We all only have so much time to devote to our businesses and creating a strategy or a plan of action will be what keeps us on track in building our business. In this article I will give you three reasons that you must create a strategy for your business.

1) Creating a strategy for your online business forces you to take a lose look at your goals and what you intend to accomplish in your online business. It forces you to take the time to set goals and do proper planning so that you are not flying by the seat of your pants. Without specific goals your business will have little chance of succeeding and you can very quickly become frustrated and burned out.

2) Your Internet business strategy will serve as your road map as you begin to build your Internet business. It is important to have a road map or a guide to follow as it will help you stay on track and help you to avoid the many distractions that come with working in the online world. Creating this blue print will have a big impact on how you spend your time while working on your business and insure that your time is productive.

3) Having a strategy or a plan for your Internet business will give you the ability to accurately measure your progress as you build your business. You can look at what you have accomplished at any time and measure that against your strategy to see if you are moving in the right direction. It is so easy to get caught up in the time killers when working on the web and your strategy can be your measure of how much of your time is really productive.

 

Successful Business Strategies for Every Business Owner

Successful business strategies are crucial for anyone who wants to make money at what they do. Whether you are a freelance writer, a gardener, or own an ice cream shop, you need to have a well thought out plan that will ensure your success, or a successful business strategy. In business, you are working to optimize two main factors. You want to maximize your revenue while minimizing your expenses. This leads to a higher profit. Where many business owners fail is in their realization of these two parts and how they are interrelated. Many small business owners think expenses are bad. As a result they don’t spend necessary funds on basics like marketing or advertising and simply spreading the word that they exist. You would be surprised at how many business close their doors and don’t know why. They think that the fact that you own a store means you will have customers. Obviously, you have to inform people that you exist and convey to them that you can provide value. As a result those people will be your customers and pay for your products or services resulting in revenue. Again, it sounds simple, but the number of small business owners who overlook this is astounding. This problem known as a unwillingness to spend money should not be confused with the bootstrapping strategy.

Entrepreneurs who bootstrap their companies understand that they must substitute anything that can be bought with their own labour and conserve funds as much as possible; however, they understand that when certain necessary expenses arise they cannot be avoided. Bootstrapping is just one of many successful business strategies that can be highly effective when properly executed. On the other side of the spectrum you have the venture capital financed model. This model usually involves going to market with a great deal of money and many skilled people on your team. This strategy allows the company to go directly for market domination by purchasing large advertising campaigns in print media and online channels. Usually, such firms leverage their financial contacts with venture capitalists to make a big splash. Of course, the number of firms who actually receive venture capital is minuscule and reaching a level that involves venture funding doesn’t usually involve the first time entrepreneur. More often than not, experienced entrepreneurs who have implemented successful business strategies in the past are the ones who end up receiving venture funding. In the end, no matter who you are or what business you are in you need to have a successful business strategy.

Whether you are looking to just own and operate a lifestyle business to support you and your family or if you are aspiring to be a big time tech entrepreneur looking to make it big in silicon valley you need to have a business strategy that you adhere to that has tactics, action items and goals laid out before you go to open your business or seek investors for your venture no matter how big or small.

Your Business Strategy – A Compass to Guide You and Your Business

You can greatly increase your chances of business success by creating a business strategy and adopting a habit of keeping that strategy up-to-date.

The purpose of a business strategy is so that you can use it regularly to assess your company’s performance against the goals you have set. It can also act as an early warning system to alert you against going astray and gives you a guide to why you’re not keeping on track.

Having a business strategy will be useful and sometimes vital to investors and banks when you need them to consider funding your business. It is also a useful tool in allocating resources and identifying growth potential. On a practical note, it will help to ensure that you meet certain key targets and manage business priorities effectively.

A good business strategy should have a time-frame, typically 12 or 24 months, and should include:

o A summary – what your business does, its development, where you want to take it, strategy for improving sales and the process to achieve the desired growth.

o Marketing plans – your aims and objectives.

o Operational details – Is the location of your business relevant? What suppliers, premises and equipment are needed?

o Financial forecasts – including profit and loss, cashflow and sales forecasts and audited accounts.

o Main objectives – Clearly define your aims and objectives for your business with dates for completion.

o Exit plan – Some business owners like to include a departure date and circumstances into their business strategy. For example, family succession or floatation.

Most businesses choose to assess progress every 3 or 6 months. These meetings should involve key members of staff and the same goes for setting up the original strategy. It is important to include those people who will be responsible for implementing your business strategy on a day-to-day basis.

E-Business Strategies

Unlike the old days, where one would use E-business as an extension of their main business, now people are building empires with E-business strategies. Most new entrants into the field and those who are new to this online market would be interested in knowing the best E-business strategies that would help build up your business into a flourishing one.

The E- business has become a must-have in the highly competitive world market, which is mostly technologically driven today. E-business strategies actually generate revenue that comes from having franchisees and subscriptions, maintenance of channel integrities, and paid marketing partners.

Since E-business has its own working patterns such as online advertising, accepting payments over the Internet, online auctions, on-line trading etc. It is also mandatory that the E-business strategies also take into account innovative methods when it comes to business promotion.

How an E-business strategy works

– An ideal E-business strategy would take into account the ways of working of a business, do research on the grey areas, check on the competition and recommend changes.

– The ideal E-business strategy would take into account the goals that the company wishes to achieve, identify the market the company wishes to capture and understand the criteria of the target audience as a first step.

– E-business strategies will advise the parent company on ways it can capitalize on the virtual audience and recommend methods of site promotion through different search engines to maximize company visibility.

– As a part of such strategies you will be advised on crucial alliances, link building methods and opportunities, so that you can effectively target the niche audience that you want for your Drop Ship Business Website.

It must be remembered that strategies may differ from company to company, depending on the line of service or product. Yet some effective, general E- business strategies include:

– Establishing good coordination between the wholesaler and the retailer of the product that is to be sold.

– Addressing issues and concerns of the potential customer/browser and making the company aware of such problems.

– Ensuring better visibility and availability of localised company services and products.

– Establishing smooth and effective sale though the Internet without delivery, or other hassles of payment through the Internet.

– Being very clear and knowledgeable in addressing customer concerns.

– Paying attention and maintain good communication to the customer, which helps make the customer feel safe and well attended upon.

– Improving customer service and customer relationship management.

– Making company visions and goals very clear and open to the customer.

– Paying attention to competitors, improving on keeping an eye on offers, discounts and key strategies applied by competitors.

– Making your online presence interactive, informative, and clear and structured so that customers are neither confused nor fooled.

If you are serious about your business then you should adopt some of these E-business strategies and see what a difference they can make to your business growth and prospects.

Internet Marketing – Successful Business Strategies

After your have decided the Who, What, When, Where and How of your internet business plan, Now you should start to think of a strategy or how you are going to get your traffic to your site. Now there are many different methods of getting this traffic.

Fish Where The Fish Are,

Some of these methods are more fitting to your type of business model. Let’s take Video Games for instance, a good way to get to your targeted market is to make video’s and put them on YouTube then push your traffic to a video game reviews blog. Another market like let’s say Real estate, this market may be more fitting for you to focus mainly on writing articles and put links to your blog or website in your bio. Now some markets it maybe be more fitting to do a combination, a good example would be gardening, video, articles, and blogging would all fit, there again making a video on tip on how plant better tomatoes, along with writing articles would all fit and again the goal is to push your visitors to your sales funnel, which we will talk more about in later posts. Well, those were just a few examples of what I mean by a targeted internet marketing strategy.

Analyze Your Product Or Service.

So you should analyze your product or service and try to fit or match it to your internet marketing strategy. The important thing is to make sure of a few things, one is value, and another is quality. If there is no value to your prospected client then you will lose them, the same is true for quality, people like and will follow good quality content.

Give Targeted Valuable Quality Content

So you should try to focus on valuable targeted quality content in your niche field. This is a important key to having a successful internet marketing business strategy.

Success And the Need for a Business Strategy

My name is Dr Graham Clingbine and over the years I have been involved with various home income opportunities including Cabouchon, Telecom Plus and the Shopping Genie. I have built successful teams and helped others along the way to earn a regular income. There is nothing more exciting than receiving commission cheques in the mail and watching the envelope dropping through your letterbox or seeing the ”payment in” appearing on your bank statement. Excitement increases when payments arrive from overseas sources as well as your own country. This article is designed to help you build an income…so we have called it Success…..and the need for a business strategy.

People often start a home-based business full of enthusiasm and motivation. It seems that only a minority remain involved for the long term and make money. So let’s look at some of the issues around this.

People often start with the hope that they will do well. Hope is not enough. To be successful you need a business plan… a flexible strategy to set out what you intend to do, how you are going to do it, and by when. In some businesses you have to take into account outgoings such as rent, stock purchase, staff salaries, advertising or marketing, and delivery costs. Many home based businesses in network marketing or multi-level marketing do not include these outgoings but a business strategy is still essential to be successful.

It is often said that ”if you fail to plan then you plan to fail” and I think this is very true. When new people join my team where possible I like to meet them in person and build up a personal rapport. Part of this includes finding out what they expect to get out of their new business… everyone has different expectations and therefore will take different times to achieve their dreams, ambitions or goals. So setting realistic targets is a good way to start a new business and your mentor or sponsor can help you with this. I would suggest that separate SHORT, MEDIUM and LONG term goals should be set…and as mentioned they should be REALISTIC… I also believe they should be set down in writing in a notebook or planner and should not be floating around in your head. By writing down your goals you are making a visible commitment to achieving them and you can see as you go along if you are achieving your targets or falling short. You could review your set plans and achievements at intervals such as 6 months, 3 years and 8 years down the line.

For many home businesses a very important strategy is to use the concept of ”referrals”. One of the first things to do on starting a home business is to write in a folder a ”contact list”. Think of everybody you know. Do not pre-judge people. Some people you know may not be very good in business or may not be interested, but you don’t know who they know. So you start by writing down your contact list. Ask yourself the question ”who do I know”? Think of friends, family, neighbours, work colleagues, any clubs you may attend such as sports clubs or social clubs… who do you meet at Church, Synagogue or Mosque?… who do you send Christmas cards to? What about local shopkeepers, postman, doctor, dentist, builder, plumber. Let’s say you produce a list of 100 names. That’s a good start, you have 100 people to talk to and it cost you nothing. What happens if you phone a friend and he/she is not interested? Do not keep pestering them, maybe they may change their mind and join you in six months. What you can do is ask them ”who do you know?”

This is about getting referrals. Say your friend does not want your service or to join your business… ask for 5 names and phone numbers of people your friend knows who might be interested, they might even phone them on your behalf just to introduce you so when you phone it will not be a cold call. Some friends may give you zero referrals, another might give you 10. Let’s say you on average got 5 referrals from each friend on your contact list. So if you started with 100 names on this list and each one gave you 5 referrals… if you work out how many people that gives you to talk to it is… LOTS! Your expanded list will keep you very busy.

What about phone technique? When you phone someone to talk about a new service do not launch straight in. If you start by ”do you want to join my new business” or ”would you like my new money-saving offer” you will get a quick ”no” as people are very wary and defensive. Your phone conversation to a friend, let’s call her Ann, could go rather like this… ”Hi John, this is Ann, we haven’t spoken for a long time. How are you? How is the family? How is your job going? Great, listen, I know you have a long time experience of business and you deal with businesses in your job, I would really value your opinion on something I have just started. Your help would be much appreciated. It is too difficult to explain it on the phone, but can we arrange a time when you are free for a coffee and a chat and I will show you what I am doing and you can let me know what you think about it. Next Thursday at mine at 7 pm. Excellent. I will make sure the TV is off and it is quiet so we can concentrate. See you soon.” People love to help other people, pay them a compliment about their skill or knowledge and ask for help. Offer them a disclaimer, as in ”it may or may not be for you but do give me your advice”.

Once you get started on your business, two factors come into play. The initial euphoria may have worn off and you may have had some rejections of your services or business. This is where many soon give in and often throw away a potential fortune. It is all about you maintaining your MOTIVATION and your PERSISTENCE…..you probably all know the Kentucky Fried Chicken story of Colonel Sanders being rejected time after time regarding his new recipe and how he kept on going……and KFC is just about everywhere today.

Take a look at the top entrepreneurs, let’s say Richard Branson. Think about his different qualities. Write them down on paper and for each one either put the quality under the heading of SKILL or ATTITUDE. When you have finished add up both sides. You will probably find you have made many more entries on the attributes in the ATTITUDE column than the SKILL column. Attitude is no doubt more important than skill in business. If you believe you will be unsuccessful, you are right, if you believe you will be successful, you are also right. Don’t forget it’s also all about taking ACTION… if you do nothing then how do you expect to do well?….some people complain their business is slow and when you ask them how many people they have spoken to about it the answer is often ”none” or ”one last month” and ”it was my best friend and she said no and I asked her another 20 times and she said maybe next week, but I didn’t ask anybody else”. Some people spoke to 10 people last month, some spoke to 10 people last week, but some people speak to 10 people every day of the week.

Getting and dealing with rejection is part of the process of being successful in business. A ”no” should not be taken personally. I always teach my team the SW rule… Some Will, Some Wont, So What? NEXT! You may get 10 ”no’s” before you get a ”yes”. This can be part of the fun and every rejection brings you nearer to the next positive outcome.

I have done a video on You Tube dealing with Objections and my sponsor Zak and myself discuss rejection and why people may be worried about joining a networking business on another video. I have even put together 5 training videos referred to as Seminar 1, 2, 3, 4 and 5 and you can see these and other topics on my You Tube Channel. I would strongly recommend you to visit my You Tube Channel and watch the videos, and of course ask your friends to do the same. We are gaining friends and subscribers all the time and you are welcome to join. We have also recently activated a Twitter account and you can follow us on there.

What To Do When Your Business Strategy Changes

Your business may be doing great right now. As the economy rebounds, more and more small businesses are finding that revenue is picking up again after years of sub-standard sales. Over the past few years, our economy has had some challenges, but the recovery seen today poses questions for many small business owners – is your business strategy relevant to today’s marketplace?

Understand That Changes In The Business World Are Natural

When it comes to business, both your customers and your competition are constantly changing. This is because market conditions rarely stay the same for very long, and adapting to these changes becomes necessary in order for any business to become successful. Your business strategy may have been a perfect fit for what the marketplace needed when you started your organization, but as your company evolves and external conditions change, altering your business strategy is crucial to your long-term success.

Twenty years ago, newspaper companies wouldn’t believe that their printed circulation would drop significantly over the following couple of decades. Now, news companies who have not adopted the changes that came with the development of the internet are feeling the crunch from modern technology – if they’ve managed to even stay in business this long.

Identifying Which Areas Of Your Business Strategy Needs Changing

Just because market conditions have changed, it does not mean that the core of your business has to. When evaluating whether your business’ strategy is up-to-date, it is important to analyze each section separately. By identifying which areas need to be changed, you can prevent a massive alteration to your company’s operations and focus while still improving your organization’s relevancy and competitiveness in the marketplace.

One rule of thumb is to make a 10% change to your strategy each time that you need to reevaluate your plan. This 10% change allows you to update your strategy to be relevant with the times, but is still minor enough that it shouldn’t rock the core of your company. By making small changes over time, you’ll find that your business will transition more smoothly during changing markets.

Stay Ahead By Anticipating Change

The best thing that any business can do to guarantee success is correctly anticipating what will happen in the future inside of their specific industry. As with the news companies, integrating the internet into their business model was the change many organizations needed to make in order to stay relevant to customer needs. Those who were early adapters and made the change years ago found the transition much easier as consumer preference began to heavily favor digital content.

By keeping up with technology and consumer changes in your field of business, you can incorporate new developments into your company early on, rather than trying to play catch-up once your competition decides to make the same modernizations.

Many people hate change. We get comfortable in the routines and habits that we develop. For an individual, this can lead to monotony and a lack of adventure. For a business, this aversion to change can be deadly. The marketplace is always changing, and if your company is not keeping up to date with the changes, you may find that you’re left in the dust behind your competition in the minds of your consumers.

3 Proven Internet Business Strategies For Fast Profits

As you begin looking at starting an online business one of the first steps that you must tackle is to develop an Internet business strategy to follow in your business. There is no reason to reinvent the wheel when there are so many successful marketers that you can mirror. In this article I will give you three proven Internet business strategies that have stood the test of time. Those strategies are affiliate marketing, information marketing and online auctions.

Affiliate marketing:

There are many advantages for designing your business for affiliate marketing. The first advantage is that you don’t have to create a product of your own to market. The second advantage is that you can select a proven seller to market so that you already know that there is a market for that product. The third advantage is that you can get started making money right away with little or no up front cost.

Information marketing:

Information marketing is one of the most profitable Internet business strategies though it will require more effort and up front expense than the affiliate business model. With information marketing you will select a niche and research to determine the common need in your niche. Then you will create your own information product to fill that need. Your information product can be in the form of an ebook, a series of audio’s or videos or even a physical book or home study course.

Online auctions:

The online auction business strategy is one of the fastest and easiest models to start earning an income online. With this strategy you can start by listing and selling unwanted items that you already have in your home. Even if you don’t want to do the auction business full time, the experience that you gain in writing titles and creating bid pulling ads or listings will be a valuable education when you are ready to take your business to the next level.