March 2008
Monthly Archive
Business Discussion22 Mar 2008 09:46 pm
Having a Security System
Like any business, running an internet business requires you to take security precautions. Theft and other crime can greatly cost you and negate much of your revenue. ITPlanet.com offers lots of hardware and security products on their website, including security cameras.
If you have a store where customers and clients come, it is obviously very helpful to have security cameras and other security systems in place. Even in places where customers do not come, you still probably need to take security precautions such as setting up cameras. Employees and other burglars may steal expensive equipment you have on hand–be it computer servers, cash, sensitive data, or so on and so forth.
IT Planet has a large product line, so you can find what you need. They have many different brands of products to give you even more options. In addition to their security cameras, another type of product I especially like is their ID card printing products. Having an ID card system for employees is a great way to improve security by enabling your company agents to know who is authorized to go certain places and do certain things.
Also, they have a free shipping option, which is great.
Monetizing Your Website
If you want to make money online, you probably will do it by owning your own website. Most of all, I believe your success will be determined by how well you monetize your website. By that, I am referring to how much money you make per visitor on average.
If you do not gain enough revenue per visitor, it will not be worth the costs it takes you to run your website and attract visitors. If you gain enough revenue per visitor, then you will easily be able to make your website even more and more successful by continuing to invest more and more in gaining visitors.
In other words, you will only be successful if you can make more money per visitor than you spend on marketing per visitor.
Measuring how much you make per visitor is not that hard. If you are selling products, then it will depend on your conversion rates. For example, if you sell a $10.00 product, which 1 in 10 of your visitors purchase (giving you a conversion rate of 10%), then you will be making $1.00 per visitor on average (minus the cost per visitor it takes you to run your website). Thus, as long as you spend less than $1.00 on marketing per visitor on average, you would make money.
You will incur some basic costs, such as web hosting and content-generation. Those costs will be less per visitor when you have more visitors. Nonetheless, mainly your cost per visitor will be determined by how much you spend on advertising or special marketing campaigns in comparison to how much visitors they bring in.
The better your website or product is, the more effective advertising will be.
Monetization is perhaps the biggest variable. You simply will not be able to afford to market or advertise your website if it is not monetized well.
If you are selling products, you can help monetize your website better by having more popular products and by having a more effective sales-pitch. The best way to find better products and sales-pitches is to test different ones. If you monetize your website by publishing ads on them, then your click-through-rates will probably be the biggest factor in how well your website is monetized. But other factors come into play such as how much your advertisers pay you and the quality of your traffic.
I think the best way to improve your monetization is to make your website better. This influences everything else greatly. A better website will make your promotion more effective by getting people to stay on your website longer, come back more often, tell other people, etc. Generally, the goodness of a website is measured in how informative, resourceful and/or entertaining it is.
Consider this website, for example; you are here because this very blog post is informative and helpful. If you find it as useful as I believe it is, then you are much more likely to read other posts, to subscribe to my RSS feed, and to bookmark this website.
What do you think?
Business Discussion21 Mar 2008 02:43 pm
Business Funds
If you want to start a new business or expand your current business, you will probably need funding. Luckily, meritcapitaladvance.com offers Small Business Loans.
They have a very informative website with an audiovisual explanation of how the process works.
They have a simple form right on their homepage. When you fill it out, they will send you a quote within 24 hours.
There are a lot of advantages for getting a capital advance. For example, you can buy new equipment, upgrade your technology, or add new locations.
Merit Capital Advance offers an especially helpful system. They advance you money based on your business’s predicted future credit card sales. Instead of having a fixed payment schedule, the repayments are made when you receive credit card payments from your customers.
Having Your Users Submit Designs
If you do not know how to design websites yourself but want a new design, consider asking your website users to submit designs.
If you have a lot of users, surely some have very good design skills. You can have them each submit their designs, and then you can choose the best one as your new design.
You can run it as a contest. You can even save money that it would cost you to buy a design by offering a smaller amount as a prize.
Having a contest is always a great way to attract new users. Contests are a great method of viral marketing. So you can kill two birds with one stone.
What do you think?
Business Discussion20 Mar 2008 01:20 pm
Avoiding Bankruptcy: Individual Voluntary Arrangements
I am not sure, but I have read some statistics that say the majority of people in the developed world live in debt. Luckily, cleardebt.co.uk is a company that helps people get out of debt using an IVA (Individual Voluntary Arrangement) . An IVA can drastically cut your debt for you. It can freeze the amount of interest you pay as well as stop creditors from taking action against you.
I personally try to avoid debt. I do not have a credit card. I have purchased three cars in my life–all were cheap and all I paid for in full.
Unfortunately, it is in the interest of salespeople to sell their expensive products to potential customers regardless of whether or not the customers can afford it. Generally speaking, as long as a salesperson can get you approved for financing, he will try to get you to spend as much of that as possible It’s sad, but it’s expected. We can’t expect salespeople to make smart decisions for us.
Understandably, many people get caught up in having the chance to get immediate possession of all sorts of luxuries. They sign agreements to buy the luxuries with credit and on payment plans.
If you are already in debt, an IVA is likely your best option to get out without having to go into bankruptcy. They can also help those businesspeople among us who have hit hardship and accrued large amounts of personal debt, which is not common among people owning unincorporated businesses.
Why Buying Advertising is a Good Idea
When I first started making websites, my intent was to spend as little money as possible. I figured I could try promoting my websites with just my time and not spend any money on advertising. I figured if I didn’t spend any money, then all my revenue would be profit.
However, I have learned that buying advertising is usually a good idea.
The trick is to ensure that you get a profitable system. You need to be making more in revenue as a result of the advertising than you are spending on the advertising. Once you have a profitable system, you can just keep investing more and more money into advertising so that you keep making more and more profit.
If you find advertising is costing you more than you can make on your website. That probably means that your website is not monetized well. If you are selling a product, then it might mean your product is not good enough or your sales-pitch is not good enough. If you make money with a content-based website, then your ads may not be placed well enough, you may not have enough ads, or your advertisers are not paying you enough. Most of all, your website probably is not good enough. It will be very hard to monetize a bad website because users will not like it, they will not stay on it, they will not come back, and they will not tell others about it or post links to it. A good website will be easy to monetize because, when people come to your website from your advertising, they will like your website. If they like it and find it useful, then they will tend to stay on it longer, to come back more often, and tell others about it and post links to it.
Basically, I’m saying that, if buying advertising is not profitable for you, it probably means that there is something very wrong with your website. Make your website better, and then monetize it better.
What do you think?
Business Discussion18 Mar 2008 05:24 pm
Employee Training
If your business has employees or ever will, you will probably need to look into training administration. Conductit.com offers powerful software for training tracking.
They offer a free 30-day evaluation. So that’s great.
Their website is very informative. It explains the functions of the software and contains an FAQ.
Employee education and training is an important part of any business. Well-trained employees will be more productive and will do their jobs safer. Conductit.com understands the importance of employee education.
They have a quick web-based tour of their software on their website. So that’s very helpful if you want to learn more about their software.
Overall, it seems like a great company offering helpful software.
Some Ways to Get Backlinks
The amount of backlinks to your website greatly helps determine your website’s rankings in the search engine. Additionally, the search engine will determine the topic of your website and its pages based upon the topics of the websites linking to them and the anchor text in those links. Let’s look at some ways to get backlinks.
Make quality content - You can get the most backlinks by making great content. If your website content is great, then other webmasters will link to your website naturally.
Forum Posting and Blog Commenting - When you post on forums or blogs you can leave a link back to your website. Remember, do not spam. Make quality posts and comments, and then people will want to come to your website without you asking.
Submit to Directories - I do not think directories are as useful as they used to be. Search engines are getting better at figuring out that the links are artificial. Nonetheless, you can still easily get links to your website using directories.
What do you think? How do you gain backlinks?
Business Discussion17 Mar 2008 10:10 pm
Credit Card Resource Site
One thing I’ve found out about working online is that you will need a credit card. The reason is that many internet-based services only accept payments by credit card. (Of course, debit cards work too.) Creditnet.com is a helpful credit card resource. If you have good credit, you probably want to look at their low interest rate credit cards. They also have credit cards for people with fair or bad credit.
Their website is very helpful because it contains a lot of information. It explains the different aspects of credit cards. They even have an FAQ on credit cards as well as an FAQ on credit repair.
They also have information about business credit cards if you, for those of you who own a registered business.
Like I said, their website has a lot of great features. They also have an email newsletter so that you can receive more helpful information by email.
Ezines17 Mar 2008 10:41 am
Are Ezines Obsolete?
I remember ezines use to be fairly common. Most websites would have some type of email newsletter.
However, now it seems that ezines have become mostly obsolete.
Email marketing has already become much less useful because it has been so abused by spammers. Additionally, people do not use email to keep in touch as much since they can use internet messengers, social networking websites, and cell-phones.
Most of all, I think the massive influx of blogs and blogging over the last few years has made ezines redundant and pointless. An email newsletter could just be published as a blog. People can subscribe to the blog using RSS, and webmasters can easily turn their RSS into an email update service. Also, non-subscribers can come to the blog to see new posts.
What do you think? Do you ezines are obsolete?
Business Discussion16 Mar 2008 06:54 am
Buying and Selling Real Estate
I was just looking at the Washington DC real estate page at drodio.com. Drodio.com has listings for other states also.
They also have a blog with expert advice. It is very informative.
Many people buy real estate as a way of securing a place to live.
You can also buy real estate as a method of investment. Some people invest short-term in real estate, but I think it is better as a long-term investment, especially with the current market instability.
One good thing about real estate is that it rarely loses value over the long term. The selling value of a certain property will go briefly up and down as the market down. However, it is a real property so it cannot just disappear like non-real investments. For example, if you invest in a company, the company could go out of business. However, real estate will continue to exist and will generally still have a large amount of value.
If you have a business, you may also need real estate. You may use it as a form of investment. You may also need to use real estate for office buildings, warehouses, stores, and other business buildings.
If you are going to buy and sell real estate, Drodio.com has a lot of helpful tips. They have a lot of “question and answer” type posts, which are useful to use to find the answers to your questions.
Recession and Internet Business
Many economists have already declared that the United States is in a recession. Officially, the government will not determine whether we are in a recession now until months later because a recession is generally defined as two consecutive quarters of economic contraction, which can only be measured after the fact.
I wonder what effect a recession would have on internet business. If big companies like Google and Microsoft have trouble, it could trickle down to the rest of us. Of course, when any internet businesses raise their prices or go under, there are many more willing to fill the spot. Since anyone can engage in internet business from anywhere in the world, people from poorer countries are always willing to work for lower rates when other people can no longer be competitive.
The businesses that rely on selling services will be the best off, I think. The people who have to watch out are those who make money by investing. You cannot count on your money to make you money in a recession.
Whatever the case, just be careful. What do you think?
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