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Online business building – what is involved?

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Business building online is a lot cheaper than doing it in the bricks and mortar world but there are still real costs to outlay.  Here’s how it works.

In general, these are the steps required to profitably build business online:

  1. Build a suitable internet marketing site
  2. Communicate with potential customers
  3. Build target traffic
  4. Induce desired behaviour (e.g. call, opt-in, click, buy)
  5. Make sales transactions
  6. Turn transactions into repeat sales
  7. Build a qualified customer list

There is an abundance of free tools on the internet that will allow you to do some of the things listed above.  Their mere availability leads many to the mistaken assumption that online business building is free.

Online business building is not free.  It requires a wealth of diversified talent; and rarely does this talent reside in just one person.  Good internet marketers outsource each part of their processes to specialists around the world.

Site builders, programmers, SEO experts, sales copy writers, product researchers, advertising specialists, article writers …. just to name a few.  Every sub-contractor expects to be paid, hence the costs.

Fortunately, many reside in countries where the Australian and US dollar are extremely valuable, so costs are low relative to onshore labour costs.  At the same time, productivity tends to be high.  Subcontractors either perform and do the job right the first time or they never get a second chance.

Like any business, there are upfront (site) establishment costs and ongoing service costs.  The bigger is the online business, the bigger are the costs involved.  However, there is one important difference between online business and offline business.

Regardless of the costs involved, the income potential of a 100% online business, operating in world wide cyber space, is actually limitless.  The same can’t be said of most offline businesses.

If you are interested in maintaining a happy Life Balance whilst business building, go visit my other blog at http://www.aikido-secrets-to-calm-success.com

Until next time!

The Coach

Business building – a dream income stream

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The business building dream is to establish a recurring income stream; one that just keeps rolling in and doesn’t depend on you having to sell your time.

At first, it sounds a bit too good to be true but it is possible with a little smart planning.  Here are the desired elements of your dream income stream.

You need:

1.      to attract a big audience

2.      a product to sell (yours or someone else’s)

3.      the sales admin to be automated

4.      the net sales proceeds automatically directed to your bank account

5.      to be able to operate it from home or from any hotel room in the world

The answer of course is an online business.  If your products are electronic, or they are someone else’s (affiliate) products, then your entire business can be built online.  You need not have a physical presence at all, other than ABN and tax file number.

With today’s extraordinary online business tools, it is all possible.  But here is the catch.  It doesn’t come free and it doesn’t come without commitment and work.  To believe otherwise is to subscribe to one of the great internet myths of our time.

Like business building anywhere, you must be prepared to invest both time and money to get your online business up and running.  It is true that setting up an online business is generally a lot cheaper than setting up a bricks and mortar business but all other business principles still apply.

Besides having the advantage of a much lower capital investment, building a business that is 100% online means that you have complete independence and life balance.  You make money while you sleep and you can operate it from anywhere in the world.

If you are interested in maintaining a happy Life Balance whilst business building, go visit my other blog at http://www.aikido-secrets-to-calm-success.com

Until next time!

The Coach

Business building– recession is a blessing in disguise

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It is true that many iconic business empires around the world were started by entrepreneurial business builders during the depths of recession.  About half of the public companies that make up the Dow Jones index began in recession.  Why? Because that’s where the opportunities were (and still are)!

In recession, entrepreneurial spirit is often borne out of necessity.  Put simply, if you have lost your job or have been cut back to part time, there may no other choice but to go it alone.

Hunger and scarcity can breed creativity faster than any business degree.  You may have been harboring a good idea for a long time, but involuntary unemployment or retirement creates an opportunity and the need to act.

Before you start however, stop to think whether yours is a recession product or not.  You can’t introduce just any old product into recession markets.  It has to reflect recession-type needs.

A product that is popular in recession is likely to remain popular in times of abundance.  However, the reverse may not hold true.  Many boom time business builders have found that out the hard way.

There are many good reasons to start a business in a recession. They include:

  • The resources you need to start a business can be a lot cheaper because decreased demand and oversupply drives prices down
  • Many businesses downsize, shed resources and fail to fulfill contracts in tough times, thereby creating opportunities for newcomers
  • There are many opportunities because of the rapid belt-tightening and changes in consumer demand; most businesses can’t adapt quickly to the changed market conditions
  • Competitors are struggling and often weakened
  • Suppliers are struggling as well so they are more inclined to negotiate better terms

Ironically, it is the creation of new small businesses that helps lead the economy out of recession because the small business sector plays a significant part in driving the economy.

If you are interested in business building and you want to retain a happy Life Balance, go visit http://www.aikido-secrets-to-calm-success.com

Until next time!

The Coach