What Is Involved in Starting an Online Business?

Have you ever thought about starting your own online business?

There are a lot of benefits to running your very own business from home. Most people that go down this track want to either have more spare cash to pay bills etc while they still hold down a full-time job, or want to give up the job they are grinding away at, and give themselves a lifestyle and income that they wouldn’t have been able to achieve will working for someone else.

There are 2 different online business models that you can choose from:

1. Physical Products.

This is a business similar to having an eBay account where you sell a physical or tangible product that you have in stock, and sell it via an eBay Auction or some other way, you have to manually ship the item or items to the persons address as specified. This business model requires you to be hands on and available each day to post out the order. You have to either purchase your products from a wholesaler or you manufacture them yourself. Either way you look at this type of business model, you cannot really run it from just a notebook computer and an internet connection. You have to be available and put in the manual work so your items can be posted or you will quickly get poor feedback, if you are using eBay to run your business.

2. Digital Products

The other type of online business model is digital products. This is where you supply products that are in electronic form. Examples of this would be, eBooks, Videos, PDF documents, training courses and membership sites etc. In my opinion, this is the better online business model out of the two to choose from. It allows you to setup your business to run automated, meaning, once set up correctly, you do not actually have to do any manual work or shipping. You can even have any questions that get emailed to you answered automatically. Technically you could be making money while you are asleep or are on holiday in the Bahamas! The trick to this is, you must find a great mentor or coach that can show you how to do this the correct way. Copy their business model, and you really can have a lifestyle that you gives you a lot of free time to spend with your family, or pursue anything else that you enjoy.

What are some of the pitfalls of starting an online business?

As with anything on the internet, you should go look into any online business opportunity with both eyes wide open. There are a lot of people out there that are happy to relieve you of your cash, only never to be heard from again!

Do your due diligence. Find out about the company offering the service. Ask for testimonials, and when I say testimonials, I mean from people that you can actually contact and ask questions. Anyone can put a testimonial on their website saying it was from Joe Blogs from Sydney Australia. People that offer their testimonials should be willing to talk to you and share their experience, otherwise it doesn’t really mean much does it!

Search for the business name on Google. You will be surprised at what you can find about a company when you make an effort to look them up online. If there have been people that have been associated with the business in the past, I am sure you will dig up some info on them.

Just keep in the back of your mind…. “If it sounds too good to be true, it probably is”.

Email the company contact or member that is promoting the business. Ask them questions about the business. If they are legitimate, they will not have a problem talking with you. Be wary of the business opportunity that tells you that you need to purchase their product or opportunity before they can discuss anything with you. From experience, these types of people or businesses have something to hide and should be avoided at all costs!

As I mentioned earlier, there are many wonderful benefits to starting an online business, but they are certainly just as many pitfalls. Never take any business opportunity on face value. There is no need to lose the shirt off your back if you follow the guidelines I have mentioned.

One online business company that I can thoroughly recommend is The Six Figure Mentors. This is a group of online businessmen and women that are truly earning six and even seven figures online. If you would like to find out more about this company, please click the link in my resource box below and sign up for the Free Videos. These Bootcamp videos will show you their complete business, and how they actually achieve this. This is a must watch if you are serious about generating an online income, while learning from some of the best internet marketers around.

Why Businesses Fail – The 7 Main Reasons

Do you know why businesses fail? Are you new to business? Struggling to stay afloat? Need a sales boost? Run out of fresh new marketing ideas? Is your business working for YOU? Or are you working for IT?

Fundamental shortcomings in business planning are a cause of many businesses failures. Knowing the 7 main reasons for business failure is critical. Your business plan must be realistic and based on accurate, educated data. Future projections must rely on knowledge of your chosen industry, the economy, the market, your potential customers and realistic sales targets.

Commencing a business is not a casual undertaking. It is not a hobby and it is not some game where you start today and quit tomorrow. Budding entrepreneurs often commence their business with a few hundred dollars. However, by doing this you may run the risk of having to raise more capital.

If you don’t have a strong success mindset, you should not waste your time and money by going into business. The market place can be very unforgiving. Starting from scratch is not easy. In fact, a large percentage of small businesses fail in the first year and most are gone within the first five years.

Research shows that Business Owners fail for 7 common reasons.

1. Poor Management Skills. Business owners often try to do everything themselves and refuse to delegate. This problem is one of the most common because business owners know their industry but fail to realise that they need to learn how to manage the business.

2. Failure to Plan. You should always start by checking out the competition. Planning is good business management practice. Inadequate planning often translates into poor management functions. Good business practice includes planning your research, planning for expansion, sales and marketing planning, and recruitment planning.

3. Inadequate Cash Flow. This is the primary reason for a large percentage of business failures. Many otherwise asset rich companies find that they are, for all practical purposes, insolvent simply due to lack of cash flow. Cash flow is the balance between your income and your expenditure. When these get out of balance, or your timing is wrong, your business is drained of its lifeblood.

4. Keeping Sloppy Business Records. This can lead to flawed business forecasting and potential taxation problems. Poor business systems can result in higher costs, lost time and inefficiency.

5. A Lack of Sales and Marketing Skills. Inadequate Marketing Systems produce poor customer service and an inability to attract and retain satisfied customers.

6. No Market Potential. Many businesses fail because the market for their products or services is too small or specialised to support them. Thorough and accurate market research and analysis is vital when starting a new business.

7. Failure to Seek Help. Having a network of professionals in place is critical for business longevity. A good Accountant, a trustworthy Legal Advisor and an experienced Business Mentor are critical if you want your business to grow and succeed. Learn to network with other business people. Find out what advertising and promotional techniques are working now. Educate yourself. Go to seminars. Learn from the experts. Be open to new ideas and strategies.

For more business tips and assistance, check out the Resource Box below and join me on Facebook or visit my site.

Top 10 Free Online Business Directories in New Zealand

Having your business listed in online business directories is important for local businesses. Not only it helps potential customers to find your business, it also informs Google that the business is NZ based resulting into better rankings in Google New Zealand. Based on research & analysis over the past few months, I have made a list of TOP 10 NZ Online Business Directories which are important for SEO purposes. However, this list is certainly not exhaustive. I encourage to list the business in all the directories if possible. At Last count there were a total of approximately 20-30 useful NZ online directories. If not all, make sure business is listed in the following 10 directories:

1. Google Places

Not a traditional directory, but the most crucial place to list a local business. This is great from local business point of view to get on first page of Google without putting a lot of effort on SEO campaigns. Furthermore, recent changes to Google results has given local business enhanced visibility in natural search results. Google is definitely driving the local & personalized search results forward.

2. Finda

Definitely the best NZ online directory. With a Page Rank of 7 at top domain and PR of 4 at business category level, it is easily the most authoritative NZ directory from SEO perspective. Great User Interface. Ranks on Google Searches consistently. Gotta be there.

3. NZS

Comes very close 2nd. With a Page Rank of 6 at top domain and PR of 3 at business category level, it is 2nd most authoritative directory. Great user interface. Easy to create listings. Includes regular blog posts, scrolled headline news, regional weather, etc. Also ranks regularly on Google.

4. HotFrog

Fairly authoritative at the top domain level with a PR of 6. However, there is no link juice flowing into the category level which have a PR=0. However, Hotfrog has extremely good visibility in Google Search results for various industries. Awesome interface. Very Clean & Great UI. Also provides integrated Google Maps of the business location.

5. IndexNZ

The user interface is outdated. It feels like a site from 90s with no thought given to visitor experience. However, it has surprisingly high visibility on Google Searches. The Home PR= 5 while the category level pages are PR = 2. Personally, i would not visit this site while looking for businesses but considering SEO i would definitely list my business there because of the directories high authority & PR status.

6. Nz Pages

Top Level PR = 6. Some Category level domain PR = 4 (Rare). Great site structure & high visibility of different categories on the home page. Makes it easy for visitors to dig into the sort of business they are look for. Clean user interface. Easy to navigate.

7. NZ Directory

Top level Domain PR = 5. Very nice, clean & beautiful user interface. Great site structure. Lots of options provided to the visitor to take action. Lot of sharing options using social media, email, etc. No visibility of Google Sponsored links which is beautiful & rare. Extremely easy to navigate. A recommendation would be to convert individual business website links from text to hyperlink.

8. Made from NewZealand

With a Home level PR =6 along with lots of modern features, Made From NewZealand is an upcoming directory with a lot of potential. It consists of business profile videos from various business owners & leaders, database of great blogs & a variety of sharing options including Facebook, YouTube & Twitter. Definitely a directory using latest web tools to make a difference.

9. Yalwa

Yalwa is Global online business directory. however, It has dedicated subdomains to New Zealand cities. The coolest thing about this directory is that it allows you to add an anchor link with your keyword. This is extremely rare & invaluable. With PR=5 and significant number of backlinks, it is a great authoritative directory to list your business in.

10. Dmoz New Zealand

Dmoz is the worlds largest online directory with global presence. Very high authority. Provides free as well as paid listings. Free listing can take months so you might as well do it right away. I would like to argue that it may never get you any traffic. However, it definitely brings a high quality back link improving your search engine rankings.

Get your business listed in these top 10 NZ web directories right away!

Want more help with getting you website on #1 page of Google? Contact us today and we will provide Free consultation on your future web strategies to get more customers online.