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6 Ways Small Businesses Can Survive In A Crazy Economy
Contrary to popular belief, small businesses can survive a crazy economy by taking some proactive steps. 1. Provide spectacular customer service -- every time. Have a friend or colleague visit your business and provide feedback from a customer’s...
Establishing Your Web Presence
Part of the success of most home-based businesses is their web presence. After all, you want to benefit from the global exposure, reduced marketing expenses, and low entry costs. But to receive those benefits, you must first get your web site off...
How To Make Money Online
Catch the cash on the net…in more ways than one. Thousands of dollars in commission? Does the idea sound too good to be true? Well, it’s what people like you and me are earning these days. Thanks to the Internet. Couple of years ago,...
Persistence is Tops
To take the online road to success is not, contrary to millions of internet and email ads, the short road traveled. There is enormous revenue potential through online channels, predicted to top $8 billion by 2005. We all would like our piece of...
Secrets of Donald Trump Revealed!
If you're like most of the television-watching public, you're hooked on Season #2 of "The Apprentice" and the flamboyant entrepreneur in the "starring role."
Love him or hate him, you can't deny that Donald Trump is one of the world's most...
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Choosing a Winning Business Idea
You've probably heard it a hundred times by now - if you want to make alot of money with an online business you have to offer your own product or service. Well, make that a hundred and one times...
It's true. Although affiliate programs are a great way to add additional streams of income, the best money maker is still a unique product or service that you control. That way you earn all of the money instead of only 10% - 40%.
Here are six tips to help you choose a winning business idea:
- Start with what you know. If you have experience in a particular area, either through your work or hobbies, then the best place to start is thinking how you can turn that experience into a business. It doesn't have to be something you've worked at for 20 years, think of the things you're good at and that you could expand your knowledge on to create a business.
- Don't waste time trying to find a brand new idea. At the height of the dot com era there was a race to be the first to launch a new product or to service a particular market. Although many of the first launched services received alot of recognition for their innovation, they ultimately failed because they were breaking new ground and didn't know how to succeed. Many of the second and subsequent businesses in those markets succeeded because they saw the mistakes that were made and capitalized on fixing them.
When thinking of a new business idea don't assume you have to find something that isn't currently being done. A better strategy for most new entrepreneurs is to find something that is being done but that needs improvement.
- Find a business area that needs improvement. Think about the products and services you use or that you've heard other people talk about. Are there any that could be improved on? Is there anything they're not offering that would be of value? Consider starting a business that fills a need that isn't being met by the current providers.
- Focus on a niche. Select a specific market to which you can offer unique products or services. You can't be everything to everyone, and trying to offer a giant selection of goods to a huge and generalized market is the route to frustration, disappointment, and failure.
As a small business, focus on a promising niche market and work hard to
offer them the products and services they need. If you do this well you'll become known as an expert in this area and you'll be able to generate new business from your reputation alone.
- Be careful of "hot" industries that are already overcrowded. Although you have to be the first person into a market, you have to be careful of markets that are already over crowded.
One of the keys to success in business is differentiating yourself from your competitors. If your customers can't see value in doing business with you over someone else you'll never be able to attract the business you need to succeed. If there are already so many businesses doing what you're considering that you can't figure out how to make yourself stand out then choose another business idea.
- Think about what works online. There are some products and services that work well online, and others that don't. Consider the following rules when choosing your business idea:
- The product or service offered can’t be readily available offline – or there must be an advantage to ordering from you such as price, bundling with other products, etc.
- It has to appeal to the masses – the Internet is a global medium. That said, there are local opportunities but you need to explore them carefully.
- It must be easily shipped around the world.
- You can't charge for something if it's already available online for free.
Before you decide what business you'd like to start, be sure to research it carefully. Knowing upfront how big the market is, who your competitors are and what your competitors are offering will help you avoid costly mistakes.
For more great tips like these, subscribe to the MyDigitalAdvisor newsletter by visiting http://www.mydigitaladvisor.com/newslettersignup.htm. With a MyDigitalAdvisor membership you'll have access to hundreds of similar articles plus reviews of the tools and resources the Internet millionnaires use to succeed. Learn more at http://www.mydigitaladvisor.com
jennifer@mydigitaladvisor.com
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United States Small Business Administration |
An electronic gateway of procurement information for and about small businesses. Search engine for contracting officers, marketing tool for small firms, ... |
www.sba.gov |
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SBA |
The Small Business Planner includes information and resources that will help you at any stage of the business lifecycle. ... |
www.sba.gov |
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Main Page - SmallBusiness.com - Small Business Resources |
Find Small Business plans, advice, tutorials about organization, corporations, entrepreneurship, and smallbusiness. |
www.smallbusiness.com |
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Yahoo! Small Business: Domain Names, Web Hosting, E-commerce ... |
Yahoo! Small Business provides products and services that enable you to establish and grow your business on the Internet. Services include domain name ... |
smallbusiness.yahoo.com |
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Small business advice business start up small business finance ... |
business start up small business finance start up advice. |
www.smallbusiness.co.uk |
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Smallbusiness.gov.au redirect to business.gov.au |
Business Entry Point - Helping small business in big ways. An Australian Government initiative. The content from this website has now been consolidated into ... |
www.smallbusiness.gov.au |
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Business & Small Business |
Online and print small business publication. Information to help start, grow or manage a small business. |
www.entrepreneur.com |
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Microsoft Small Business Center |
Your home for information about Microsoft's small-business products and services, tailored business advice, technology tools, and more. |
www.microsoft.com |
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The Small Business Advisor - advice for starting and operating a ... |
Advice and assistance for starting and operating a small or home based business. |
www.isquare.com |
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SCORE "Counselors to America's Small Business" |
A nonprofit association dedicated to encouraging the formation, growth, and success of small business nationwide through counseling and mentor programs. |
www.score.org |
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Small Business and Self-Employed One-Stop Resource |
IR-2006-2, January 3, 2006 - Temporary and proposed regulations will significantly reduce tax filing burden for nearly 950000 small business owners. ... |
www.irs.gov |
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Welcome to Small Business BC your business resource in British ... |
BC Business Services offers assistance and resources for those running or starting a business in British Columbia and Vancouver. |
www.smallbusinessbc.ca |
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Small Business Service | Home |
Provides information and advice to help small businesses realise their potential. |
www.sbs.gov.uk |
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NSW Small Business |
A site developed by the NSW Department of State and Regional Development for small businesses. Topics include management, resources, current issues and ... |
www.smallbiz.nsw.gov.au |
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Business Management & Advice: Small Business Resources & Information |
Looking for business management and advice? Our website includes small business resources and information that can help you. Visit the small business ... |
www.businessweek.com |
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Small Business Lawyer, Attorney, Law, Legal Help - FindLaw for ... |
Information and legal sites relevant to small business. |
smallbusiness.findlaw.com |
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Small Business Funding Opportunities (SBIR and STTR) |
Links to Small Business Funding Opportunities and SBIR / STTR Applications. |
grants.nih.gov |
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Microsoft bCentral Small Business Directory |
Directory categorized by industry with company business card feature. |
sbd.bcentral.com |
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Our site has moved! Please update your bookmarks! |
Facilitates the sharing and exchange of information among small business development centers, the small business administration and other business-oriented ... |
sbdcnet.utsa.edu |
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Small Business Development Corporation |
Our business information services provides guidance to improve business skills and knowledge on advice on starting, buying, selling and expanding a small ... |
www.sbdc.com.au |
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