Monday, September 29, 2008
Saturday, September 20, 2008
Full Time Business Model
First off, you have to make a key choice: How much time do you want to devote to your business?
When you go for a full-time business model, you leave behind whatever you were doing previously to commit yourself completely to your start up. You will find yourself working more hours than you ever did working for someone else...that is a for sure.
Alternatively, you can start up a business part-time. With this model, you adapt your business to time-consuming obligations you already have, such as your day job, parenting responsibilities or any other activities that would keep you from making your start-up your primary focus.
Some basic categories of business model options are discussed below, new and interesting variations can be expected in the future and these are not meant to be exhaustive or definitive.
1. Home-based
2. e-Commerce
3. e-Bay
4. Franchising
5. Licensing your product
6. Multi-level marketing
7. Advertising
8. Merchant
9. Affiliate
10. Subscription
Business models can be implemented in a variety of ways, as an example a content driven business can blend advertising with a subscription based model, as I am trying to teach you in the Constant Learning Group, as an overall Internet business strategy.
Sign up at:
http://www.constantlearninggroup.com
When you go for a full-time business model, you leave behind whatever you were doing previously to commit yourself completely to your start up. You will find yourself working more hours than you ever did working for someone else...that is a for sure.
Alternatively, you can start up a business part-time. With this model, you adapt your business to time-consuming obligations you already have, such as your day job, parenting responsibilities or any other activities that would keep you from making your start-up your primary focus.
Some basic categories of business model options are discussed below, new and interesting variations can be expected in the future and these are not meant to be exhaustive or definitive.
1. Home-based
2. e-Commerce
3. e-Bay
4. Franchising
5. Licensing your product
6. Multi-level marketing
7. Advertising
8. Merchant
9. Affiliate
10. Subscription
Business models can be implemented in a variety of ways, as an example a content driven business can blend advertising with a subscription based model, as I am trying to teach you in the Constant Learning Group, as an overall Internet business strategy.
Sign up at:
http://www.constantlearninggroup.com
Wednesday, September 3, 2008
Business Model
What does "Business Model" truly mean and how has the web changed the traditional business model that we know or perceive. This is probably the most discussed and least understood aspect of the Internet today.
Really, a business model is the method of doing business by which a company can sustain itself, that is generate revenue. This really means "where specifically is the company positioned in value from the revenue source."
Some business models are quite simple. A company produces a good or service and sells it to a customer or customers. If all goes well, the revenues from sales exceed the cost of operation and the company realizes a profit. Other models can be more intricately woven. For sure, Internet commerce will give rise to new kinds of business models, but the web is also likely to reinvent tried-and-true models. Auctions are a perfect example. Look at e-Bay and how it has popularized the auction model and broadened its applicability to a wide array of goods and services.
The key to choosing a business model is to find one that fits your "Life Plan" your "Life Style" and what you love to pursue. This will ensure that you spend the right number of hours each week, take the right level of risk, are practical in terms of your financial expenditure, and gain the kind of satisfaction and success you're after. Whether that satisfaction is the pleasure you get from putting together a new business, to secure your life style or making lots of money or you want to leave a legacy for your children or grandchildren.
Many times people jump into things like MLM, Affiliate Marketing or something equally as challenging without first considering their own working style. There's nothing wrong with models, they just aren't the right models for everyone...be honest about what you are willing and able to do before you waste time trying to make a bad business model fit.
Knowing your temperament, how much energy you can muster after a 3 hour commute and 8 to 10 hours on a job, family commitments, sleep and unwind time is critical to deciding what kind of part-time business to start, if that is what you are looking to do.
Really, a business model is the method of doing business by which a company can sustain itself, that is generate revenue. This really means "where specifically is the company positioned in value from the revenue source."
Some business models are quite simple. A company produces a good or service and sells it to a customer or customers. If all goes well, the revenues from sales exceed the cost of operation and the company realizes a profit. Other models can be more intricately woven. For sure, Internet commerce will give rise to new kinds of business models, but the web is also likely to reinvent tried-and-true models. Auctions are a perfect example. Look at e-Bay and how it has popularized the auction model and broadened its applicability to a wide array of goods and services.
The key to choosing a business model is to find one that fits your "Life Plan" your "Life Style" and what you love to pursue. This will ensure that you spend the right number of hours each week, take the right level of risk, are practical in terms of your financial expenditure, and gain the kind of satisfaction and success you're after. Whether that satisfaction is the pleasure you get from putting together a new business, to secure your life style or making lots of money or you want to leave a legacy for your children or grandchildren.
Many times people jump into things like MLM, Affiliate Marketing or something equally as challenging without first considering their own working style. There's nothing wrong with models, they just aren't the right models for everyone...be honest about what you are willing and able to do before you waste time trying to make a bad business model fit.
Knowing your temperament, how much energy you can muster after a 3 hour commute and 8 to 10 hours on a job, family commitments, sleep and unwind time is critical to deciding what kind of part-time business to start, if that is what you are looking to do.
Saturday, August 9, 2008
Your Reason for Marketing
Finding your reason or your passion for marketing is the key to success. You have to market in a way that goes after what you love instead of what you feel obligated to do.
Marketing whiz kids from here, there, and everywhere are talking about how traditional marketing is dead. Yes, that’s partially true, and it has been for a long time.
Marketing is any contact that your business has with anyone who isn't a part of your business. Marketing is also the truth made fascinating. Marketing is not telemarketing alone. Marketing is more than an important business function. It is a business philosophy.
Marketing is changing in radically interesting ways. I do think that marketers are being called upon to draw together the people who make products and the people who use them. Marketing is about communicating with your target audience — it’s not about trying to push your products/services on consumers until they give in and make a purchase. I am blown away by how many companies and marketing teams still don’t get it.
You have to identify your focus market (not a target market, but one that is manageable and attainable) and determine what their needs are. When this is firmly identified you have to create or have a product that your visitor or customer wants or needs to pull in multiple streams of income even while you sleep.
You have to be able to “Pull” your potential customers information to you and then allow you to “Stay” in front of them until they are ready to buy from you, in non-advertising methods. Hits to your website mean nothing, it’s the number of individuals from your focus market that decide they want to hear from you and work with you down the road that counts.
You have to create the stage where you create the information that positions you as “the one” to go to when your potential customers need arises for your product/service. This is done through a combination of article writing, product creation, newsletter creation, testimonials and in-person communication, which can be done by the use of audio or visual products.
If you have a passion or understand why you are in the business you have a better chance to be able to attain the “Pull & Stay” of marketing and become a success.
Good luck and stay focused and passionate.
Connie Glutyk has created the “Constant Learning Group” teaching how to create and maintain membership websites that sell. She can be reached at http://www.constantlearninggroup.com
Marketing whiz kids from here, there, and everywhere are talking about how traditional marketing is dead. Yes, that’s partially true, and it has been for a long time.
Marketing is any contact that your business has with anyone who isn't a part of your business. Marketing is also the truth made fascinating. Marketing is not telemarketing alone. Marketing is more than an important business function. It is a business philosophy.
Marketing is changing in radically interesting ways. I do think that marketers are being called upon to draw together the people who make products and the people who use them. Marketing is about communicating with your target audience — it’s not about trying to push your products/services on consumers until they give in and make a purchase. I am blown away by how many companies and marketing teams still don’t get it.
You have to identify your focus market (not a target market, but one that is manageable and attainable) and determine what their needs are. When this is firmly identified you have to create or have a product that your visitor or customer wants or needs to pull in multiple streams of income even while you sleep.
You have to be able to “Pull” your potential customers information to you and then allow you to “Stay” in front of them until they are ready to buy from you, in non-advertising methods. Hits to your website mean nothing, it’s the number of individuals from your focus market that decide they want to hear from you and work with you down the road that counts.
You have to create the stage where you create the information that positions you as “the one” to go to when your potential customers need arises for your product/service. This is done through a combination of article writing, product creation, newsletter creation, testimonials and in-person communication, which can be done by the use of audio or visual products.
If you have a passion or understand why you are in the business you have a better chance to be able to attain the “Pull & Stay” of marketing and become a success.
Good luck and stay focused and passionate.
Connie Glutyk has created the “Constant Learning Group” teaching how to create and maintain membership websites that sell. She can be reached at http://www.constantlearninggroup.com
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