How to Become a Dot Com Millionaire (Part 2)Written by Jim Barrington
The news is full of bright young things earning instant fortunes from Internet. Virtual businesses are not just domain of young. In second of this 2-part article, James Barrington of Netsghtuk.com shows you how to join growing ranks of successful e-entrepreneurs and get wired for success.Technology This stage is most expensive part of process. You will need programs to ensure your specific functions will work seamlessly and return results you require in way you expect. Because something has not been done before, does not mean it is not technically possible. As long as it is cost effective to write a program to fulfil need, then this can go toward providing some of your unique market positioning. The golden rule is to keep things as simple as possible for user to move around. The crucial point to note is, to achieve success, there must be a demand for your service in physical world and you need to demonstrate how you will make sustainable profits. Without this solid foundation, no amount of fancy technology will make your site successful or raise investment you require to make it happen. Think Big Remembering your worldwide audience, it is wise to think as large as possible when designing a high growth Internet venture. Whilst you can cater for localised areas, it is vital that your programs are capable of serving a worldwide client base should need arise. In order to grow and expand, you will naturally require potential to enter new markets and attract new clients. Designing for a worldwide client base is infinitely cheaper than designing a small program and then redesigning entire website as business expands. Standardise your functions and administrative systems wherever possible. Think very big indeed and you will find yourself in running for success! The Internet is only limited by your own ambition, Raising Money Technology businesses are about risk and risk does not come cheap. A single program can cost upwards of £100k and hardware can cost an equal amount. The message here is that you should not risk what you cannot afford to lose. It is often better to own 25% of a venture generating huge profits than 100% of a venture that will fail due to lack of adequate working capital and finance. The answer here is to attract attention of investors and expertise with a mixture of cash and share stock in your venture. Finance can be raised from Business Angels or specialist venture capital firms; however most will be looking for an equity stake and existence of a strong management team. If idea of being answerable to someone else scares you, then sell working model, programs and strategies to highest bidder and exit with cash.
| | Too Good to Be True??Written by Nicole Seekely
Let's face it, not all people are good. I know what you must be thinking, "What a pesimistic person you are!" However, there are some facts of life we all just have to deal with. There are people out there who want to scam you, spam you, or do whatever they can so that they can make a profit. I've been in internet world for many years. I've learned gradually over time how to tell difference between when something's true and when it's not. Here's a run-down of things to watch for on 'net when signing up for free stuff. *!*! WEB SITE ADDRESS *!*! If you're signing up for a freebie that's located on a page with address of http://www.geocities.com/~bugger/freestuff/sign-up/candle.html, chances are you're wasting your time. If they can't even afford to buy their own domain name, how can they afford to produce and ship thousands of freebies? *!*! WEB SITE DESIGN *!*! This is just my personal opinion (of course, this whole article is) and you many not agree with me. When a page has no design or layout or color, but just some text in a really big font saying "SIGN UP NOW!!", freebie doesn't look too promising or reliable. It seems to me as though they've slapped a bunch of text on page in two seconds, and they are trying to get your e-mail address so they can spam you. *!*! COMPANY NAME *!*! I look for this one a lot. If it's a brand name such as Revlon, Pantene, Sprite, Yoo-Hoo, etc.., I usually quickly sign up for offer. These companies are very reliable and trustworthy, and would almost never try and scam you. If it's a company name you've never heard of, well that doesn't mean they're bad people. It just means you should sign up with caution.
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