Fundamental of Internet Business

I mention the term Internet Business but this these principles apply to just about any type of business that you can think.

Here is the basic sequence.

1. Determine an in demand market

2. Develop a strategy to reach the market

3. Develop or source a product

4. Promote and deliver the product

5. Relationship and Support.

To get some more details on these to ensure comprehension, here goes.

Determine an in demand market - This is a critical first step to get your business off the ground. You will have personal interest and desires but you need to find out what will sell, otherwise you have your site or store and no one shows up. In the online world, you can use places such as http://pulse.ebay.com, Google trends and several others to see whats hot in the market place. Once you get that, then you brainstorm basic keywords around the specific market or niche. You can use tools such as wordtracker.com to see what the demand is like for specific keywords.

Develop a strategy to Reach the Market - There are several ways to reach your potential customers - typically, if you are online, you would need a website (duh!) but you would need to decide if its a blog or static site with basic content. Then would decide how you plan to promote either paid or free.

Develop or Source Product - This decision could be dependent on the market. For example if you wanted to sell televisions, you could consider doing affiliate marketing or drop shipping with arrangement from a supplier. In the case of information products, you could do the same but you want to have your own product to control how you address the buyers need directly.

Promote and Deliver your Product

This is the case where you complete your website, put content that explains the product and whatever resources to help the buyer. You would then add your product link or product ordering to that website. Once thats in place, you then either use paid services such as PPC to promote or Search Engine optimization and other techniques.

Relationship and Support - Typically, if you had a normal store, you develop relationship with customers coming and out of the store over time. The same rule apply to the Internet in a more fundamental way. Customers will come to your site and not buy, so the one thing I did not mentioned earlier, you could offer something useful and free in exchange for their e-mail address. With the e-mail, you can provide them good value information and make them offer from time to time. Treat them like friends and really be helpful.

In the end Internet Marketing is not that hard. The main challenge I think is to find the correct market and then position products to address needs.

How to Create Products to Make a Living

well, here I am creating a blog to discuss product Creation. What do I know about Creating Products? I have worked in Product Development for a major telecom supplier over 9 years now specifically in product development. I do understand this process from a large scale and smaller scale point of view.

Whats the point about product development as a business? or as an home based business to begin with?

If you look at all the big successes nowadays online, they all started by having their own product of some sort. Examples are Youtube, Google, Facebook and several others.

Working for a large company, it was hard for me to think of owning or developing my own product. In fact what I am saying here is that the biggest part thats preventing success in a big way, is our accepting defeat without trying. We are always told to do things a certain way and most times you have to play some politics to get ahead at work.

If you win the rat race, you are still a rat...

Lets say you are interested to start a business. The simple intention of a business are to provide products or services to a specific customer base.

In respect to product the first consideration is to buy and sell products either online or via a brick and mortar store. Now for a lot of people this may be far fetch since you need money to buy the products to sell in the first place. Therefore, the cycle may never start if you don't have lots of capital to risk.

Starting a business with little Capital...

The reason the Internet has such a big hype in respect to potential business opportunity is largely due to the fact of low overhead expected and the much bigger market.

To summarize business process we can say the following

Product
Sales and Marketing
Transaction
Profit

Now since product is important, you can't just sell or make any product. You need to find out what people are looking for.. Thats the essential step to achieving success.

In another post I will give an easy example of developing a quality product for less than $500 and then you can find people to help you sell it..

In summary, the whole notion of product creation should first start with a goal or you could say a business plan. Don't just say I am going to make some money.. The fun part about all this, is that you will truely enjoy the process of creating products.

Now this blog is open and I do welcome good constructive comments that can help to advance the cause. I also have some free materials at this site.

I am Larkland Morley a Certified E-Commerce Consultant.