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So You Want To Start A Business?

So you want to start a business eh? That’s GREAT! One of the main reasons people start their own company is to be independent. In other words, you have no one to answer to. You can work when you want, pick your days, hours and time. It’s totally up to you which - of course - will determine the success or failure of your business when you are at the helm.

Starting your own company is really very simple and anyone can do it. As a matter of fact, I can start another business tomorrow, hang my “business shingle” outside my door and what do you think will happen? Absolutely nothing! Why? Well there’s several reasons with the first and most important reason being that nobody knows me or anything about my product or service. Of course, as a new business you’re going to need a web site and as I’ve said time and time again no matter what business you’re in … your customers expect it. Having a web site is - putting it briefly - an online brochure of your products and services available to anyone and everyone 24-hours a day 7-days a week. However, many past clients unfortunately were under the impression that once their web site was on the Internet that people would be banging down their doors. Alas … that’s hardly not the case. (maybe in the early 90’s but certainly not now).

The Internet has changed. It really and truly has. But … we’re not talking about the Internet here, we’re talking about getting customers. Right?

From the moment you open your doors all the way to the moment you either sell your business or retire, you will need to work the publicity machine and promote yourself. So … what can you do to market your self without breaking the bank? Here’s some methods to get those wheels turning.

1) I mentioned in one article that one of the most important pieces of equipment (at the very minimum) is a business card. One great place to go is at Vista Prints.

If you don't have them, go and get them made up immediately. Your business card tells potential customers that you're a professional who takes your business seriously.

2) Once you get your cards it's time to get them into as many hands as possible. Take them with you everywhere! Take them with you when you do errands, dancing, etc. And, if you're like me (who makes "small talk" where ever I go) hand them out to people.

3) Talk to your vendors, and give them your card as well. Who knows ... maybe they can use your products or service or - better yet - knows people who will. Referrals are always great door opener!

4) Places where business cards are displayed - such as supermarkets - may be another place to post your card.

4) Attend meetings of professional groups such as your local chamber of commerce, Rotary Club, or civic associations. Always have your cards in your pocket where they are easily accessible. (Fumbling or searching for them can be embarrassing at times). Try to get into the habit each time you say "My name is," and get your card. By the time you get to "I run a..." (type of business), your card should be deposited in the hand of the person with whom you are speaking. Don't forget to ask what they do and really listen to them. They'll be flattered by your interest, and better remember you because of it.

5) Become actively involved (on a committee) in groups that will give you an opportunity to meet potential customers and make real contributions by offering useful ideas and help with small projects.

6) Look for something unusual about what you do, and publicize it. Send out press releases to local newspapers, radio stations, cable TV stations, or magazines whose audiences are likely to be interested in buying what you sell. More on this in the months to come.

7) You might want to write an article that demonstrates your expertise in your industry. Send it to smaller newspapers and maybe some magazines. When writing your article always remember to include at the end your name, company name your web site and contact number.

8) If your article appears in a magazine or newspaper remember to make photocopies and include them in your sales letter mailings or any other literature used to market your product or service. Publicity lend credibility to the claims you make for your products or services.

9) Contact nonprofit organizations, schools and colleges, and even other businesses who have customers who may need your services.  More on this in the months to come.

10) Network with others who are in the same industry. 

11) Volunteer to be a guest speaker at events. Volunteer organizations, libraries and online forums often need speakers for meetings. After you've gained some "speaking confidence" and feel comfortable doing it, look into "speaker's bureaus" to book speaking engagements for you. You'll benefit two ways: 1) Getting paid for your speech and 2) publicity for your business. 

12) If you have a product that may interest a particular "niche" of people you might want to demonstrate it or, teach others how to use it.

13) Find out what federal, state, and local government programs are in existence. Some programs offer free counseling, and may be able to refer customers to you.

14) Send out sales letters or announcements to everyone you can think of who might use what your sell.

15) Have magnetic signs made up that displays your business name, web site address and contact information and put it on the sides of your vehicle. Your means of transportation instantaneously becomes your mobile billboard.

16) Get on the phone and "cold call". (More on this in the months to come).

17) Look for complimentary businesses that can help you sell your products or services. Be sure your pricing structure allows for compensation when sales are made from these referrals.

18) Run a contest. Make the prize something desirable and related to your business or product. It could be a free gift basket, web site, samples, etc.

19) Take advantage of opportunities to run inexpensive or free ads. Professional associations often publish such directories.

20) If your niche market uses the Internet or online forums, participate in discussion groups. Always be sure to include your signature line when posting.

Want some real start-up business ideas? From high tech to no tech. Sign up for our newsletter by clicking the link below.

A Proven System

One of the questions I get asked all the time is:

How do I start a successful Internet Business?

Before I tell you what you need to do, I'm going to tell you (briefly) a sad but true story about a gal who's tail began when she was contacted by a company after purchasing a few books. This company - named Auctions For Income - sold her an opportunity at a tune of $6,000.00! (OUCH)

Now, one would think to believe (at least I would) that the $6,000 she invested would include web site development BUT ... it didn't. What it basically included was access to products and ... coaching! This poor gal did EVERYTHING - within her means - that she could. She placed herself in the engines, listened to her coaches, tweaked her pages, was told to redesign her site TWICE, paid for click throughs and advertisement and STILL .... nothing! NOT EVEN ONE SALE AFTER ONE YEAR! Needless to say ... the site is still up ... BUT ... it's a scrapped project! Can you imagine what she could have done with $6,000 IF she had just a little bit  of NetSense knowledge from me? BUT... it's gone ...

My answer is always the same which is:

You need to find a hungry niche market FIRST before you do ANYTHING

There's a very specific sequence of steps you need to do in order to be successful on the Internet. And finding your niche market is actually the very first thing you need to do before you do anything else!

There's 8 steps that you need to take in order to start and grow a profitable online business and they are:

  1. Find a hungry niche market BEFORE you decide what to sell
  2. Write compelling sales copy that draws in your your visitors
  3. Design a winning site that converts visitors into buyers
  4. Place your site into the search engines and directories
  5. Tap into other sources of cheap (and in the beginning of building think and use FREE) traffic
  6. Use email marketing to keep in touch with your visitors
  7. Grow your business by introducing new products to your existing customers
  8. Harness the power of affiliate programs for more traffic and sales

Most people make the mistake of looking for a "hot product" to sell when they're first starting out online. Unfortunately, they end up choosing the product before they've determined whether or not there's even a market for it in the first place. This mind frame is similar to the old saying "Putting the cart before the horse!"

Lets get one thing straight here - people do not go online to buy ... they go online "looking for information" or ... to "solve a problem". Now some of you may disagree with me but, as a person who does buy stuff online (and not impulsively either) I do my homework first, weigh everything out and THEN decide - to buy online or to not to buy online. THAT will be my determining question after I do my homework!

Once you find your market it's then time to do some writing.

The most important part of your website is your copy. Typically it's the only contact your visitors are going to have with your business. Now, many people are not comfortable (or confident) about writing but, don't worry. I explain it all to you in the book. BUT, briefly, in a nut shell you need to focus on how your product or service will solve people's problems or make their lives better. You need to put your customers shoes on for a moment. For me ... it was easy because I literally WORE those shoes!

When you're writing your sales copy remember the following:

  • Include a headline and sub-headlines packed with benefits
  • Build credibility (don't lie)
  • Offer a strong guarantee
  • Include bonuses
  • Ask for the order

After you've written your copy, THEN it's time to build your website and convert visitors into buyers.

The most import thing to remember when designing your site is to keep it simple. On average, you only have 10 - 20 seconds from the moment someone arrives at your site to grab their attention. If you don't grab their attention ... they're gone!

Whether you decide to teach yourself a little bit of HTML and design the site yourself (which I HIGHLY recommend) or, hire a designer to do it for you remember: Your goal is not to confuse your visitors but lead them step by step through your sales process. If you make it easy for them to purchase - people will buy.

Now that we've covered copy and web development it's on to the search engines.

Over 90% of Internet users start with the free search engines and these users basically take the time to look at - the very most - MAYBE - the first 3 pages.

There's more than two ways for you to be discovered in the engines and a most popular (and fastest) is through CPC (cost per click's). CPC's are also known as PPC (Pay per click's). Two popular CPC/PPC's are Google AdWords and Yahoo Search Marketing. The other way to be discovered is through the free search engines and directories. But before you run off to sign up for CPC's I want you to keep in mind the story of the gal that I mentioned earlier in this article. And being the frugal individual that I am, I don't think that paying for a listing is the way to go in addition to it being an expensive way to see if your copy is working or not. This is known in the industry as "testing" and "tweaking".

Next, it's time to "spread the word" about you and your business. This is what I call "The publicity machine".  You can ...

  • Give away free, expert content. This could be in the form of articles, information, tips, etc.
  • Send out press releases. This is an excellent way to announce a new product, service or developments in your industry.
  • Get active in your industry. Find out where your customers are? Are they on a message board or at a particular web site community? If so, more than likely they have questions. You're the expert and help them out. When you reply just make sure to include your signature file.
  • Make sure your business cards list your URL and pass them out when ever you see an opportunity.

Lets "fast-forward" and say that you've done everything, and now (because you're successful) you have built yourself a customer base.

It's a fact that 36% of the people who purchase from you once (and have a good experience and see the value of your product or service) will purchase from you again. And since you already built a relationship with your customers you want to develop a lifetime value.

Most of you are aware that my family has a "family business". (No ... it's not like the Soprano's) Anyway ... It's a legitimate, family run, and operated business that's in the service sector for over 21 years and it's very successful. Even though my father places ads in the yellow pages, 80% of our sales are referred to us by our customers.

Knowing this to be true prompted me several years ago to offer additional services available via the Web. This is referred to by one of two names which are: Backend selling or "up selling".

When you "backend sell" (to name a few) you can:

  • Offer products that complement their original purchase
  • Send out coupons to redeem on their "next visit"
  • Include an offer for related products on your "thank you" page
  • Sell affiliate products that complement your product or service

Staying in regular touch with your customers and letting them know about new offerings can increase your revenues by over 30%

The last step is an option. It's something that you should seriously consider but, not all businesses offer it and what we're going to touch very lightly on are affiliate programs. In my book I list all of the reputable programs with links, descriptions and what you can do with them. But ... to keep on track with what we're discussing, I felt it would be fair to mention this aspect.

When your business is profitable, it just makes sense to be on the lookout for new ways to expand your business. One of the best ways to do that is by offering an affiliate program. Affiliates are people who literally promote your products on their web site. Every time they send you a buyer, you pay them a commission.

Of course, this is a very brief overview of everything that's involved in growing a successful Internet business. But ... I'm sure you get the picture!

 

What it Takes to Succeed As An Independent Entrepreneur

What ever business you decide to go into, every endeavor is helped immensely if you have the following:

  • Self-confidence
  • Assertiveness
  • Boldness, courage, optimism and the ability to take controlled risks (every business has risks by the way so don‘t let that scare you)
  • The ability to work hard with discipline
  • Ambition
  • Persistence
  • Determination
  • Being committed to your goal
  • Leadership ability
  • Sincere concern for others
  • A problem solver
  • Flexibility
  • Being adaptable
  • Sincere honesty and integrity
  • High values and quality standards
  • Street smarts
  • Knowledge (or the ability to seek it out by being resourceful)
  • Good judgment

Now, after looking at that list you might be thinking to yourself that you have what it takes - then again - maybe you're lacking in some areas. Don't let that burst your bubble or discourage you, because I have solutions for those areas that need tuning up.

When starting your business, it's important that you pick something you're going to LOVE and your gifted at. Imagine yourself being at the helm of your own business 60 - 80 hours a week. If you don't like what you're doing you're setting yourself up for failure. So, since you're thinking about starting up a business don't be afraid to examine your skills and talents from a potential money making venture point of view.

The second most important thing that will help keep you mentally going (in a forward motion) is that your family and others in your realm support you 100% in your endeavors. If you're married and don't have the support - that's going to make it harder for you if you continue to go forward. If your friends don't support you well ... you might have to get new ones who will!

Capital

No matter what business you decide to go into, there's bound to be some set-up costs. Some home-based businesses can start up with just a hundred dollars (or less), others may need a few hundred or a few thousand.

As an Independent Entrepreneur, I've learned to improvise. For example, instead of buying new office furniture and recording equipment, I checked out e-bay and used office equipment shops in my area. Additionally, every new business needs at least a business card and one great place that I've been using for years is a web based printer called Vista Prints.

From brochures to notepads, I haven't even come to anything near their prices locally. BUT, in the beginning, the very least - invest in some business cards and remember, you don't need to get everything that's suggested. Take baby steps!

In the beginning, over estimate your expenses like telephone, cell phone, supplies etc. The experts suggest that you should sock away enough savings to support your family for one full year, or, secure another source of income, such as a working spouse might provide, that can pay the household bills. BUT... in my case there is no spouse or live in roommate, and I didn't "sock away" a years income. So I'm going to leave that call entirely up to you.

The Customer Search

Like it or not, every entrepreneur is a salesperson which begins before you open your doors and continues through out the life of your business. No seasoned entrepreneur downplays the importance of ongoing marketing and sales efforts. Even small companies that rely on word-of-mouth advertising swears on a stack of bibles that it pays to help pass the word along. Some businesses (like my family business) place yellow-page ads which -  by the way - costs us about $400.00 per month for three areas.

Starting your own business without a doubt is a risk. However, you are in complete control and can determine how much risk you want to take. Don't be a “shoulda, woulda, coulda” person. Just do it! Start out small. Take baby steps. As a person who's self employed I view it as investing in myself and you can too!

Mostly every one that I've spoken to stated that the reason for being self employed and starting their own business is the Independence it brings as opposed to the 9 - 5 hours of working for someone else. You control your own hours, your environment and the tasks you perform.

If you're good at what you do ... you'll make the money. It might not be a mountain of money in the beginning but, believe me it will increase as time goes by.

 

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