Providing The Information In Online Business For Beginner
I thank you for your interest in my article
I thank you for your interest in my article. Before you start reading this course, let me make it clear that this course or article is only meant as a guide for you on how online business works. I do try to be as accurate as possible in providing the information in this article. In doing so nevertheless, I do not warrant or make any representation that all the information contained in this book is accurate. Now let's continue.If you are serious in building your online business and want to earn that much needed extra income, then this newsletter should be very interesting to you. I will help you to get that other source of income (or the only potential source of income for you now) and that help comes in the form of knowledge.
Whatever we intend to do, it must be based on knowledge. The knowledge you have will help you to avoid mistakes, which can be costly and may delay the completion of your undertaking irrespective of what it may be. Mistakes can also make you quit all together.
Now let us go to the business at hand.
The Internet was first developed for the military a long time ago but has since become the best source of information for everybody. Because of its ability to reach millions and millions of people, the business communities have been using the Internet as an effective tool to offer their products.
Doing business online may sound like a daunting huge task. Why? Simply because you lack the necessary knowledge. Like everything else you do, things are much easier to accomplish when you have knowledge.
I believe everyone is capable of using the internet to his advantage. The problem is that not everybody is concerned about this opportunity. They do not know how to take the opportunity even if it is hanging right in front of their noses!
Setting up an online business is easy even for those without any IT background. Surprised? Don't be. I know because I myself do not have any IT background. What makes me different is that I am willing to learn and the best part of it I've found the easiest way to start an online business and make money. We are not trying to reinvent the wheel. We just have to follow proven methods. This is why knowledge is very very important.
Actually setting up an online business is much easier and cheaper than running an offline business if you know how to do it correctly. That is why online business is very attractive to people who doesn't have a lot of money to invest but like to start their own businesses nevertheless. Do not fall for the notion that you can make money without spending any. It's ridiculous. Like any other businesses you have to invest in your business. When you are willing to invest your time, efforts and money, then only you will know that you are serious in pursuing your goal. Your online business is easy to run. Once automated you need only a few hours in a week to monitor the running of your business.
I am going to provide you with the knowledge needed to build your first online business. Once acquired, this knowledge can be developed and will help you to build more online businesses thus giving you your multiple sources of income. If one automated online business can bring you a moderate income of $500 a month, just imagine how much you will get if you have 2 or 5 or even 10 online businesses. If you have hot products that can sell like crazy, you may get much more than $500 a month for each of your online businesses. Just imagine that! Even if this is only your extra sources of income don't be surprised if they can exceed your full time job income. I believe you have heard that there are people who solely make their living online once they reached that stage. You can only obtain all this if you have the knowledge and apply them correctly.
Doing business is all about TAKING ACTION right away. Don't wait for the fuel price to go up any higher. Don't wait for your daughter to start schooling. Don't wait for any excuses for that matter for you to start your own online business. The time to start is NOW. Open up your mind and prepare yourself to learn.
LESSON # 1
Your introductory lesson will be about the internet itself. You must understand to some degree how the Internet works in order to easily grasp the concepts applied in online businesses.
The internet is made up of millions of computers connected to each other in one way or another. Computers connect to each other through some other computers using the telephone lines. They are two types of computers. One is called a workstation and the other is called a server. The computers you and I have at home are called the workstations. Workstations are connected to a server owned by your local Internet Service Provider (ISP). This server in turn connects with other servers owned by hundreds of other ISPs throughout the world. So there are millions and millions of computers connected together.
This network of computer is called the Internet. This is why people says that the Internet is a huge community and for our business purposes, a huge market. Statistics quoted from www.prnewsnow.com states that there are over 900 millions of Internet users in 2005. In the same year approximately over $70 billion was spent on the Internet. What can you figure out from these numbers? It is a huge global market, which is expanding, and you can get a slice of the cake! That should be your conclusion.
You must have your website in order for you to be "seen" on the Internet. Your website is very important if you want to do business online. What is a website? A website is a space in a server of a web host. A web host rents out space in the hard disk of his server to other people who want to have a website. This web site contains the files that make up your webpage.
A website can consist of a single page or a lot of them. The servers hosting the websites are operating 24/7 so that anybody can go to your webpage at any time. Now you can understand why even if you own a website you don't place your website on your computer and you don't have to keep it running all the time for somebody to access your website. Your web host server will take care of your website for you.
Each of the websites is given their own unique address for the purposes of identification and communication. At the early stage of the internet, websites addresses are solely in the form of numbers and dots as in "261.453.766.34". You have to remember this numbers if you want to go to a particular site, a troublesome task. Today websites addresses are made up of words or abbreviations for easy of use though behind every address there are still numbers and dots.
What if the people out there are looking for your products but do not have your address? Can they find you? Absolutely. Prospects or potential customers can search for your address or your product by using the Search Engine. A search engine is a program in a particular server, which is connected to other servers all the time. It goes into each of these servers and compiles all the data it came across. The data compiled may consist of your address and your statements on your webpage. The search engine then list out all the addresses of websites it can find which contain the searched item. This is what we called the search result. The prospects can then click on the addresses displayed (also called links) in the search result to go to the respective websites. As there are thousands of websites containing the similar searched item the result page may run into the hundreds. This is just one way of getting to your website and off course it does not include your efforts in promoting your website via advertising and campaigns.
Now that you understand how the Internet works, in the next lesson I will explain to you what you should do to start your online business and look at the internet at the commercial point of view.
LESSON # 2
The whole idea of having an online business is to sell your product and get your profit. Before we go deeper into this, we need to consider a very important element. The most important thing is you must know whether there is DEMAND for your product out there. You can sell any product you like but that product must have demand. The higher the better. The higher the demand for your product the more successful you would be in selling your products. More sales mean more money.
You wouldn't want to sell something that nobody wants, do you? So the next logical step is to do some research to find out what product is highly on demand. Find a product, which can easily be sold. One of the products with high demand over the Internet is information. Information can be in a any form. It can be in the form of "specific" information or the form of "how-to" information. Most of the time, free information on the Internet is general in nature. This gives the opportunity to the person who can provide specific or detailed information to sell his information. As an example, if you know how to reduce weight in the shortest time possible for obese people you may sell information like "How To Loose 20lbs in 14 days". This is the type of specific information that people is looking for.
When a product has high demand, the likelihood of you making sales is higher. It must also be noted here that when there is high demand for a particular product, there would be a higher number of sellers as well. Obviously there will be more competition for you. Everybody wants a slice of the cake! When this happens, you need to offer more to your potential customers. When I said offering more it could mean reducing your price or giving more on top of the product you are selling.
This makes you different from the other sellers. Customers would be happy to get more that what they are paying for.
Another way of doing it is to offer niche products to niche market. Niche products are products with demand from a small fraction of the market. Not everybody is looking for this product but the ones who are looking for it may want it desperately. The "desperate" element here forces people to pay higher price. For an example you may be selling a hearing aid which can function 10 times better than the normal hearing aid. People who needs hearing aid and want to live normally will certainly pay the high price you fixed to get their hands on your incredible product. You may not be selling your niche product everyday but one or two sales per week are enough to give you a handsome profit.
As you can see, the two methods of product offering may give almost identical results though the level of demand is different. You need to sell a lot of high demand products to get the same profit as the person who only sells two or three niche products. Generally the economics law of supply and demand applies equally in online businesses as well as the offline traditional businesses.
In the next lesson I will tell you the types of product you can sell online. The product can be in the form of physical products, digital products or services. You can sell any one or all of them online once you have the knowledge.
LESSON # 3
You are now one more step closer to starting your own online business. To be able to do business you will need a product or products to sell. Below are your product options for you to choose from.
I will tell you what type of product you can sell on the internet. There are three categories of products. Now let's take a look at each category of these products.
i) Physical products
Physical products are all the products you can see in stores and shopping mall. They can be either brand new or used items. However, to sell physical products you have to keep them with you and for that you will need a place to store them. You must keep track of your goods inventory and you must handle the delivery for the items if someone purchased them. Because of these things you need to do constantly, selling physical product online is not that easy unless you already have an offline business. Usually physical products owners (with own store) are using the internet as a tool to promote his products to a bigger market apart from the normal advertisement they have in local newspapers etc for local market.
ii) Services
You also can promote and sell your Services product on the internet. The services can be in any form like pest control services, construction, landscaping etc. These type of products may limit your market as you can only cater demands not far from where you are. An exception to this is when you have stores scattered throughout the country. One good example of services you can provide using the internet where your location is immaterial, is providing designs for company logos or websites requested by your customers who may be in some other country. You can charge your customer and send the design files over the internet to him irrespective of where he is.
iii) Digital products.
Digital products are products which you can download to your computer straight away once you have purchased them. They are in a downloadable format and is similar to opening your e-mail and downloading the attachment file. Digital products can either be in the form of information or software. Because of the simplicity of the process digital products have become the best product to sell on the internet. As a seller you don't have to worry about the delivery of your goods. Everything has been taken care of automatically. Once payment has been successfully processed the customer will be sent to your download page. He then downloads your digital product and he can start reading or using it right away. All this is completed within minutes. You may not be aware of this process until an automatic e-mail is sent to you informing you about the purchase.
Now you know the types of product you can sell. In deciding what product you want to sell please do not forget the all important demand element. Now, where can you get your product?
You can either:
i) Create the product yourself
If you are a manufacturer then the problem is solved. What happens if you don't have any product? In that case, create your own product. The easiest product to create is information products. All you need to do is write down some special knowledge your have. When you write about something which is already in your head, you don't have to spend on anything. All you need is some time to write the information down. Basically there are a lot of things you can write about. Use your imagination. Just make sure that there is demand for it. Another option is that you pay somebody to write for you.
or
ii) Sell somebody else's products.
If you are not a writer or a manufacturer and cannot or don't have the time to create your own product, then you sell somebody else's products. If you want to sell physical product, you must first identify your wholesaler. Then ask them to provide you information and pictures about the product. You put all this information on your webpage and start selling the product. If a customer purchased that item you just tell your wholesaler to send that product to your customer. You don't pay your wholesaler until your customer receives the product.
You can also sell other people's digital products. You only need to pay the owner once for the right to sell and then you can sell the product as many times as you like and keep 100% of the profit every time. One other option is to buy absolute right to the digital product. In this case you can put your name as the author and make changes to the contents. You can sell any price you like and become an instant expert on that topic.
You can choose one or all of the type of products. Remember about the multiple online businesses you can have? Spend some time putting a list of all the possible product you can sell. Start doing your research on these products to find out the market demand.
On the next lesson I will tell you what you need, to put up your own website.
LESSON # 4
By now I'm quite sure that you have decided on what type of product you are going to sell. Today I will explain to you how to set up your shop, your website that is, to sell your product.
You need the followings to set up your webpage:
i) Domain name
You must register your domain name. The registration is done with a domain registrar. You can come up with any name but it is better to put a name that describes your product something like www.xcellentpotraits.com . Once you've provide the name you've chosen the registrar will make a fast search whether that name has been registered before. If it is not, than the domain name will be registered under your name. You can choose your domain extension like .com, .org, .net, .edu, .info etc. but it is common for business domain name to have the .com extension. You will be required to pay a certain sum to use that domain name and it can be from $3 to $30 a year.
ii) Web Host
I've explained to you in LESSON # 1 that a website resides in the server of a web host. Web hosts do not only provide you with a space in their server but also other features like website building tool, e-mail accounts etc. You should visit a few web hosts before you decide to choose one. You need to compare what the various web hosts are offering you. As a tenant in the web host's server you will need to pay monthly rental. The rental should be in the range of $8 to $30 per month depending on the features the web host provides you.
iii) Web page builder
A web page builder is a tool to create your webpage. Using this tool you can insert text and images promoting your product to your web page. Initially all websites are created using HTML codes which is quite difficult to use. Fortunately the process has been simplified to enable just anybody to create a webpage. You can purchase any of the web page builder software available like Microsoft's Frontpage and Dreamweaver and install it on your computer. If you are purchasing one of this software, you should finished creating your webpage before you get your domain name and web hosting. This will safe you money as you'll only need them once you are ready to upload your webpage.
Some of the web hosts provide this simplified page builder tool without any extra charges. They also provide online support in case you are stuck. If you are building your website with the tools provided by your web host, you can only do so while you are online and connected with the web host.
iv) File Transfer Protocol (FTP) program
The FTP program is a program you used to send the web page you have created together with files associated with your web page (e.g. images) to your web host server. This process is called uploading and will enable visitors to view your webpage. You must have this program if you are creating your web page on your own computer. You can get this program for free. The FTP program is also used to amend or update the content of your web page from time to time according to your requirement.
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