Word Of Mouth

Written by Bob Osgoodby

The one year anniversary ofrepparttar start of your web business rolled around, and you had 8,126 hits to your web site by 3,712 people forrepparttar 117603 calendar year. That averages out to about 10 visitors a day. In analyzing these figures, it shows that some of those people were intrigued enough to visit other pages on your site during their visit. Like a robust meal, some came back for seconds and maybe even thirds.

Statistics show, that only a small percentage ofrepparttar 117604 people visiting a web site actually buy something. Now if you're selling a "high ticket" item, that could have resulted in thousands of dollars worth of sales, and may be perfectly acceptable. A "low ticket" item, onrepparttar 117605 other hand may have only netted a small amount, and made a small profit or barely recoveredrepparttar 117606 costs.

The web site sellingrepparttar 117607 "high ticket" item must balance their production capabilities withrepparttar 117608 demand. Maybe they can't handle any more customers. The person sellingrepparttar 117609 "low ticket" items has their work cut out for them.

So let's concentrate on whatrepparttar 117610 "low ticket" person has to do. The pundits say that you must sell yourself first, andrepparttar 117611 product or service will be an easy sale. Well this is true to a certain extent. You must however have something that is saleable, at a competitive price.

Let's talk about price. Yesterday I was browsing through an online Garden Supply Store - yes it is getting to be that time of year. Common items were typically priced at almost double what I could get them for in our local store. While I got some good ideas, that vendor lost a sale. Prices must be competitive - and if you add shipping and handling,repparttar 117612 differential is even higher. So,repparttar 117613 concept of selling locally available items at a higher cost just doesn't make sense. The online entrepreneur is going to have a very difficult time competing withrepparttar 117614 chain stores.

So does that mean that there is no market for an online entrepreneur? No! There must however be a product line that is not normally available in local outlets - in other words a niche market.

Creating Momentum for Your New Business Idea

Written by Myrtis Smith

You've got a great business idea. You're excited atrepparttar possibility of being your own boss and taking control of your own destiny. There's only one small problem: you have no idea where to start. The most important thing you can do, is capitalize onrepparttar 117602 excitement you currently have and get some momentum started.

Below are a few simple action steps that will help launch you intorepparttar 117603 realm of "business owner"

1. Research. Hop onrepparttar 117604 internet and type in a keyword for you idea. Read what is available on your topic. Identify gaps inrepparttar 117605 available information; those are gaps you could fill, potential services you could provide.

2. Talk it up. Tell you mother, your best friend,repparttar 117606 neighbor downrepparttar 117607 street. Tell anyone who will listen to you about your idea. This will do 2 things. First it will create some accountability, you've told so many people about this great business you're not in a position to just drop it. Secondly (and more importantly) someone you talk to is bound to know other places or people where you can get information. Maybe they have a cousin in another city who startedrepparttar 117608 same business, or maybe they are aware of a vendor who could get you a great deal on your raw materials. People know people and most people are willing to share their knowledge with you.

3. Create a dummy business plan. This does not have to be your take-to-the-bank-to-get-a-loan business plan. This can just be a rough draft. The point is to create something that will get to you thinking about what you need to do. There are many business plan resources onrepparttar 117609 Internet and most of them ask you some pretty hefty questions. Even if you're not ready to create a serious business plan, this is good way to get you thinking inrepparttar 117610 right direction.

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