There are so many things that work against you when starting a new business, so it helps to have a definitive guide to how events will flow so you do not lose focus.
Things to consider when starting a new business includes Business model, Marketing and Distribution channels, Startup costs and how to fund operations and many more.
In this post, I want to draw your attention to this 12 point checklist I have put in place for you to gross over so you can avoid most of the pitfalls your path to business ownership has been rigged with. Before anything else let’s look at what business model is all about and what you can do to get started on the right foot.
Here are lists of things to consider when starting a new business:
The business model is a complex question to answer, however in simple terms, what this means is that whosoever ask you for a business model, they want you to answer more than one question:
This is also popularly called niche marketing, where you pick an audience with a single specific need, then you work towards providing a solution to that particular targeted customer. In order for your business to succeed you need to do a thorough niche research into your targeted market so you can establish the best way to communicate your solution to your esteemed audience.
This article by Chuks explains what you need to know about Niche research
Making money online or just about any other business, requires that you provide answers to punters who have money to spend. If you are in the business of entertainment, then put up a video blog where you can post funny jokes your audience will love and keep coming for more.
The question in the business model here would be how are you going to the bank when you have made your audience laugh their lungs out? Are you going to sell your own stand-up comedy DVD series? Will you promote club appearances in your city? Will you be selling funny print on demand accessories like mugs, t-shirts and wall mules?
Value delivery is all about meeting your customer’s needs. How does your business plan to meet your customer’s needs? So as a new business you need to understand and conduct a deep research into what your customer audience might need, then deliver your most valuable service proposal to them.
A good example for me here is how we quickly discovered that much small business startup owners struggle with technology. So we put together an offer for any small to medium e-commerce business owner seeking to get their business online, we will provide them with a done for your solution.
What that means is that we provide a custom business in box solutions in exchange for a small fee or monthly subscription. The value for our customers is that where their business would have needed to hire a full-time technical web support, they get to use our team of creative and marketing to their advantage at no extra cost.
In these teams, the customer has access to SEO experts, Video marketing creators, Product launch specialist and Paid advertising experts. These skills cost tens of thousands when you have to hire them as freelancers or full-time employee.
Any business that lasts for years has what we call customer retention strategy in place. As a new business, things to consider when starting a new Business will be how you intend to put your product in front of your customers, how you plan to keep them buying from you over and over for years to come.
In order for your business to survive and grow, you will need new leads to come to your business so if anyone is asking for your business model, they also want to know how you gonna keep them coming to you.
The buzz word in the marketplace is USP! Basically, it stands for unique selling point of whatever you are selling. How you plan to stand above or shoulder to shoulder with your competition matters most when you are just beginning.
This is the most exciting part and probably the most motivating factor for you to put yourself out there online. At this stage, your business model should be able to map out what you will have to exchange for money with your targeted audience. Here at Gradec media, we provide valuable free guides to getting your eCommerce business. What you might also not know is that we provide Web Design, Web Hosting and Domain registration to our customers.
In simple terms, we get to show you how to make money online step by step for free, knowing that if you want to get started you will need A Domain name registration, you will need web hosting and you will probably need help with your web design or Search Engine Optimization services. That’s how we make money.
But that is not all, we also do business to business consulting especially for customers who want to advertise online or social media, we manage and run their advertising campaigns. With our $5/month minimum web hosting membership of over 7500 strong membership (and growing), we have a stable revenue stream.
Because the main focus of a business model is to map out an entry and an exit point, you have to understand what it would cost for you to get started in the first place. So things to consider when starting a new business would be appropriate costing of your startup and how you can break that into manageable chunks.
Some business models allow for low start-up costs simply because they have plenty of options on the implementation stage, that you can do yourself, avoiding having to fork out money you do not have as a new business.
A good business model offers new business owners more than one way they could structure their costs and revenue streams to increase or just break even.
With a business model to hand, you could use Spreadsheets to make quick, hypothetical changes to your business model and immediately see how the change might impact your startup business now and in the future.
This method has been used since computers came into the business scene and now has been perfected by the growing of business applications that are more intuitive than the old spreadsheets.
The great part of business models is that it allows you the freedom to look into the future and see:
Many blog posts have been written about how easy it is to start a blog and make money off it. What most of these guides do not tell you is that a blog is a business that has a model built into it. Without having a clear business model around your blogging idea, it’s almost impossible to make money writing blogs.
A practical guide to starting and running a new business is probably all you need to turn things around for yourself and your family.
Luckily for you, there’s a growing trend in infomediary business models you can start today with literally as little as $23. I remember growing up back in the day, when you needed to do any business research, or trying to find information about best dog walking trails, you had to go to the library and borrow a book about local dog walking trails.
Thanks to the internet, today all I have to do is pull out my mobile phone and hit google or facebook to discover which best dog walking trails are best, safe and fun to take my dog. This trend means more and more people now turn to the internet for information about their needs.
While life has been made easy, by providing information on demand, most online googlers are looking for relevant and trustworthy information they can trust to instantly act on it to meet their needs. This is where your infomediary business comes in.
The business model is really simple, take for dog walking as an example. If I want to sell dog toys or bedding, I would need to find families that love animals and are actively living with one. The best places for me to look would be in online dog forums available on Facebook.
Even better, I could use keyword research tools to gather what potential customers are searching for online. Once am happy with the information in hand, I will put together an informational guide about the best places to walk your dog in city A, B, C, D, E, you get the gist!
What this guide helps me achieve is equally based on the same concept, I build a relationship with the dog walkers, who find my guide useful, then in return I get to attract them to even more dog based newsletter that helps them find best solutions for solving dog-related issues like, deworming side effects in puppies plus many more.
Through these dog based newsletters, I get to promote products they can buy to meet the solution am recommending for a particular challenge. With the level of trust built over time, it is easy for me to make a decent living out of providing information that is available for people to use for free.
You probably are wondering, will this work for me? My simple answer is yes! If it is working on you, am sure it will work on others who will come to your guide, looking for what you know about the niche you intend to go to.
You see I knew long ago that people like you, are hungry for information, so I created this practical guide for starting an information business so it can help you get ahead in starting your very own infomediary business.
I get to win your trust by providing you with a detailed Start-up Practical Guide To Starting And Running A New Business pdf all for free, so you join my newsletter for small business owners and at that stage you now have access to an oasis of start-up guides plus strategies for growing a small business from starting up with little to no money, moving on to making a good living working from home.
In this information age, what you know is more valuable to many thousands of people who share your challenges. You just have to put yourself out there, the one thing I have learned over the years running this blog is that, when you help others with information that has actually helped them get ahead of others, they will always come back for more.
You do not have to be an expert, you just have to give credible information others can follow step by step so they can too get out of the situation you claim to have been.
This is why this guide will help you achieve only these milestones if you apply them.
Regardless of your age, or social standing, the odds of making eCommerce a success in this year are in your favour. Enterprising young millennials, over 50s, are turning their skills into real income using infomediary business model.
This surge in successful online businesses is being fueled by low-cost technology internet has allowed many to do business with fellow locals as well as customers from across the globe.
I could give you more than a handful reasons for starting an intermediary business today.
For starters, the cost associated with the running of the business are way under $100 once you set up, yet the earning potential is in tens of thousands.
The rise and dominance of social media mean that the route to market and promoting your products is far cheaper than those days when you needed cable advertising to reach your customers.
Youtube views are reported to have far more reach than traditional tv ads, surpassing superball ads.
The best part of all is that when you start your infomediary business, you will not be alone, the growing army of online business start-ups means you will have more than plenty of like-minded entrepreneurs who are happy to help you grow, nurture and scale up your small business startup.
So you have a decision to make and things to consider before you start your own entrepreneurial journey.
What skills or passion you have to leverage in your infomediary business? Is your business idea tested and looks like a good proposition worth exploring market viability?
There is no need to have all the answers immediately, it’s perfectly fine to start with baby steps and knowing when to ask for help when you need it. In fact, many folks I have been privileged to work with started their journey while holding a day job.
What I love about starting an online business is the fact that you never fall short of helping hands.With plenty of help from social media group forums, bringing a business idea to fruition is never a dull journey.
I know what you think when I mention about making a plan, but what this business plan will do for your online venture is act as a blueprint or route for your roadmap.
With simple things like who will be the point man to run things for you, what sort of skills they already have, and what sort of business opportunities exist will make your startup see the starting point and move stage after another only when a milestone on stage basis has been achieved.
Make sure to use social media, press releases to make as much noise as you can so everyone knows you or your business as the go-to expert in your field.
Great Ideas make a good sense of business, but in the absence of the other factors to consider before starting a business that comes into play when you finally decide to start your very own business can mean struggling with little to show for or even worse off flat-out failure.
When you take your time to mitigate these impediments, your chances of making a success out of your startup business increases ten times plus!
So, what should be on the checklist of factors to consider before starting a business? Let’s jump in!
1.1 How much do you know about the industry or product you plan to sell
Your level of knowledge in the product/service offered is key a successful launch.
1.2 Your lack of knowledge leads to frustrating dealings with vendors and
intermediary suppliers so make sure you know your product or service.
1.3 Be clear of the market you plan to go into, that way you know
your point A route to point B.
Market viability is all about you taking the first steps by exploring
how bigger of a market is available for your product.
2.1 Does your market exist domestically or is it a global opportunity?
2.2 The Goal is to understand who your real customers are and how
challenging will it be for a small business owner to reach them.
2.3 Most domestic markets will not have stringent rules and regulations
When your product or service crosses borders, you have to think about
how to deal with regulatory rules, product returns, shipping and handling
3.1 How much will it take for you to get to the market?
3.2 Startup costs for a manufacturing plant are more exorbitant than
those of a drop shipping business model.
3.3 Does your business require immediate office space and tooling to rent?
3.4 Many business jurisdictions demand a minimum capital requirement to be met before you start trading.
Businesses like grocery stores will require you to stock large quantities
of merchandise long before you open doors. The dilemma is that these
goods demand upfront capital outlay as credit may not be given to your
business by your suppliers.
4.1 You need to figure out how to finance your business, and this comes in two parts:
4.2 Depending on your implementation strategy, as the business owner you will have to figure out how much to introduce and how much to borrow.
4.3 A rule of thumb on factors to consider before starting a business is to never use short-term funds for fixed assets acquisition. Instead, use short-term funds for operating capital needs.
The logic behind this is that if you spend your short-term funds on fixed assets then how are you going to repay back the borrowed money if the business is not making any money?
When you know how to move forward with your chosen financing model, your next step will be to put that money to work as planned.
As a new business it’s easy to get caught up in the euphoria of owning a business, what you should be concerned about is what sort of competition will you have to beat to get to the top.
5.1 Your goal here is to identify a winning product or service you can offer with high buying intent and demand, yet less competitive for new entries into that particular market.
5.2 Never assume that less competition is a sign for good market to go into.
always look at sales volume and historical annual demand trends
for the product.
5.3 Your primary goal competing for offers is to identify your USP(Unique Selling Point) How will you position your offer so it can withstand market competition?
5.4 This is achieved by applying SWOT analysis to your competition to unearth strategies behind their marketing success and if you are smart you will see gaps in between that you can plug in and offer a better version of your own product or service.
Among the factors to consider before starting a business is Location location! Some place is ideal for tax savings while others are good for internet connections, electric bill savings and water supply.
6.1 If your business will rely on raw materials that are locally sourced then you may need to think about where to set up shop.
In business, compliance is everything.In the age of eCommerce, you would think selling knives, for example, is straightforward everywhere.
unfortunately, every country has it’s own rules so make sure to figure that out way before you ship a container full of illegal knives into your country or elsewhere.
7.1 Same apply to counterfeit products, if you spend your time and money on a product that has copyright infringements, your business will suffer greatly for your oversight.
Your return on investment also known as ROI is calculated as a net to profit made divided by the investment made. Do not count on your return on investment to be great in your early stages as it is too early.
8.1 What you need to do as you are starting a new business is to put a handful business ideas to start on the table, then put them to see which one offer you a good return on investment over time.
8.2 If you invest your money into a business, see to it that it is going to earn you more money when invested as capital seed money opposed to having it in the bank as a deposit.
Your choice of brand reps will either break or make your brand. The entire success of your business brand solely relies on how you select your staff.
Manpower though being the most crucial part of your business, they are an expensive part of doing business.
Your goal is to find a good balance in skilled worker supply and mitigated reasonable staffing costs.
Never ever start a business without thinking of what sort of technology your business will need. The best practice is to invest in sound technology from the beginning than kicking the can down the road.
Most common technology will include, plant and machinery, latest office equipment.
Make sure to invest in a good cybersecurity that will look after your trade secrets and recipes from prying eyed freaks.
Making all these choices can be challenging, but making good choices, in the beginning, will save you a great deal of money while performing better
These are the most usual suspects when it becomes to starting a successful business. Once you compromise on any of these factors, you are opening yourself to imperial growth and brand impact.
You need all the knowledge you can have when starting a new business these days as running a successful business from start is quite challenging and you do not want to take it lightly. These are the basics you need to create your own custom project report based on these optics right before you start a new business.
With Facebook ads for beginners, there are a few things you should do:
FB ads shortcut to success is best served when you can have a snoop at what is working than trial and error.
Head over to Facebook and type post about”keyword LSI” in the search bar and hit enter
Facebook has up to 11 conversion options, choosing the right one is key.
Demographic reach equals more ad spend therefore if you had to go by age the young and tech-savvy age group will be a bit more expensive to reach than the old age group.
Always Target the right group users to maximize your profitability.
Many folks make this mistake of running two ads of the same or similar service against each other. This rookie mistake costs money.
This is simply because Overlapping audiences causes your CPM to shoot up for the skies.
The trick here is to make use of excludes to make sure that all ads that share interests are kept separately within the same ad account.
Broad keyword phrases are always the conduit of this schoolboy error. When you cast your net too wide and make your keywords broad, you are opening yourself to likes by association.
Default metrics inside facebook ads account can sometimes be misleading. What you need to do is cut the noise out by picking up the kind of metrics that help you see what products are selling well and what is not working.
Here are all the metrics you will need to setup as custom
1# Cost per purchase data set
2# Cost per click link data set
3# CTR link data set
4# CPM data set
These four datasets actually are key cornerstones that tell you whether your customer acquisition is profitable or not.
Keep an eye on your CTR link to be at least the range of 1.5 or above.
With an avalanche of new bloggers hitting the web daily, am not surprised that this newbie has finally curved in to seek help on how do bloggers get paid or how to make money blogging for beginners.
She is not alone, many blog owners who started on the wimp, hobby blogs with the hope of making money blogging are finally realizing that bloggers who get paid writing blogs might be doing something different from what hobbyist bloggers do.
I recently got asked by one of my readers in my blog, she innocently wrote to me, wondering how do bloggers get paid seeing that all they write about was a bit of advice and sometimes answering questions like she did when she asked to know how bloggers get paid.
While many may consider this question to be elementary, I completely understand where she is coming from.
Not long ago, when I started my blog, little did I know how bloggers got paid or how bloggers monetized their blogs so they can make money online fast.
It is easy to assume that every blogger who gets paid is making money online the same way as everyone. This is not the case at all. Top successful bloggers like Brian Dean, Neil Patel or Michelle make more than $100,000 every month all from their blogs
From this image, you can tell how much of a progressive process it has been for Michelle to move from being a newbie who was making $675 bucks to making $100,000.00.
Traditionally, many bloggers get paid for advertising through Adsense, promoted posts or affiliate products promotion.
While bloggers can get paid quite handsomely using these traditional blog monetization, my preferred way of getting paid as a blogger is to create my own products or I should say e-courses.
Now I know what you are thinking, you are probably screaming and kicking that you are only a bloody newbie, therefore, creating your own products is out of the question.
Many bloggers choose to get paid promoting other people’s products simply because they are lazy, so they opt for launch jacking and other forms of affiliate promotion.
Yes, there is plenty of money to be made out of affiliate, what you may not be aware of is the fact that you are leaving more money on the table when you promote other people’s products.
The constant search for new offers to promote daily is one thing I really despise about affiliate.
Not all is doom and gloom about traditional blog monetization, as a matter of fact, many affiliates are attracted to this form of monetization as it is quick to get to the market and you don’t have to worry about customer support as the main supplier takes care of that.
Bloggers get paid when they promote a product and a user who likes and finds the product useful might have first been educated on the importance or benefits of the product.
This is also called indoctrination in other marketing terms.
Now if you consider the process of acquiring a customer, you would have spent a great deal of time to get customers, which is the hardest than creating the product itself.Blogging For Money: How To Make Money With A Blog For Beginners
Take an e-course for example, what you will need to create one would be:
Bloggers who get paid good money over and over are able to do this because at the core of what they do every day is solving people’s problems.
If you are considering of starting a blog and make money, consider the ways through which you will leverage blogging to make money than thinking that blogging itself is what makes money.
My blog is about small scale business ideas, through it I teach my fans how to start a blog and turn that blog into a business, this is done through the strategic FREE courses that I teach and share with my fans, but that’s not all.
My blog helps others who find my knowledge useful, these folks go on to register into our Mastermind group where we share more strategies you won’t find anywhere for free, or they buy one or more of my premium offers.
This was all planned way before I started the blog. Now if you are considering of starting your own blog, make sure that you factor in these important keys to your blog success:What Makes A Good Blog Post?
Your Skill sets will help you meet other people’s needs.
A good example would be that as sales funnel designer, I know a thing or two about how to structure, model and scope pretty much any business with minimum effort. I could, therefore, help other business owners with the design, structure, and launch offers or model other successful funnels that are crushing now online.
While this may be true, my process is a bit different, it all begins with creating a blog in the first place. I try to deliver valuable content to my fans that’s good enough to get them going without the need for spending money on buying courses. However, my offer for training is not always how to guides as they are all covered for free.
My courses will probably offer results fast or time-saving strategies that are shared privately.
Once again, blogging allows you to figure out your niche market way before you even set up your blog. Many bloggers who only dream of getting paid are those who get it all wrong when picking a niche to focus on.
Niche-focused bloggers find it easy to understand the needs of their community so there is no second guessing when it comes to creating a product your fans will love.
One of the best ways to do this is to ask your fan base to share with you in your community group chats, blog comments or social media what their pain points are.
Data does not lie, when you score your community against its needs on platforms like Facebook, it is easy to figure out what your fans will love.
If you are wondering how other bloggers get paid while others fall flat despite working hard, this is what sets them apart. Mythical blog owners assume that they can just set up a blog and figure what sort of content their audience needs. This is probably the easiest way to fail your blog way before it even starts.
In order to avoid this, you need to do audience scoping from when you are setting up your blog so that you do not have to start figuring out content that’s ideal for your audience. What you should be doing at this stage is a content optimization, a process that helps bloggers to fine-tune their content strategies to meet needs of fans and search engine.
There are plenty of ways of doing this, like setting course goals, storyboarding, prototyping, defining e-course goals, choosing course delivery platforms, to course promotion.
Bloggers who get paid really good and those who make money writing blogs take all this into consideration at the beginning while creating a blog.
Many people who ask me what I would do differently if I was starting from scratch, I tell them that I would make sure that my email list building is part of the blog setup.
Are you wondering or feeling overwhelmed with how to start a blog or how to get paid to blog about anything?
Paid blogging jobs do not have to come from someone else. What you need to do is create those jobs around your blog fan base.How To Choose A Niche For Affiliate Marketing
Hostgator is one of the biggest and most well-known hosting organizations on the planet. Hostgator offers shared hosting, VPS hosting, dedicated servers, and also manage WordPress hosting plans.
Continue reading to find out if Hostgator is for you.
In this Hostgator review, we will be looking at different customer experiences and reviews of Hostgator web hosting by different review websites.
First on the items to review is the unwavering quality or reliability based on your hosted website, performance of your hosted website, the customer support if you have a problem, the features it offers that allows for easy navigation and setting up your website, and finally if the pricing is good for both existing and new customer.
Hostgator first came to limelight in 2002 and developed rapidly and today it is one of the biggest and best hosting companies.
Their headquarters are in Houston and Texas and manages over 7 million domains with their workers of more than 750 and 24hrs on desk customer support.
Hostgator massive growth can be said to be attributed to their massive development on the shared hosting plans, reliable web hosting, and quality client support and benefits.
What might you do in the event that you agree to accept a host and find that your website is agonizingly slowly and frequently vanishes? You’d need to switch suppliers, and this will cost you more cash.
That is the reason you need to pick a web hosting organization that is dependable, quick with stable execution record all around.
Upgrade your hosting account when you begin getting more guests to your site.
What you post on your website essentially influences the page load time. The more pictures you upload will increase the load up time, this influences your server’s speed test.
Try using BitcatchaÂ to run a speed test.
Hostgator offers a quite number of hosting plans, which include:
Shared Hosting Plans
VPS Hosting Plans
Dedicated Servers Plans
Cloud hosting Plans
WordPress Hosting Plans
All of the listed Hostgator hosting plans are quite good and fits your spending plans, and also for your web hosting requirements.
Shared hosting is an ideal hosting if you starting a website, and also for low traffic. With Hostgator shared hosting, your site shares resources with other sites hosted on the shared server.
HostGator’s shared hosting plans come with three distinct levels. All designs incorporate boundless stockpiling and transfer speed. The primary distinction is the numbers of websites you can have.
– Hatchling: The Hatchling design enables you to have just a single website. It incorporates 1-click WordPress installer and comes with standard plans.
– Baby: The Baby design enables you to have boundless websites. It incorporates every one of the components of Hatchling design, and you can likewise utilize add-ons.
– Business: Suitable for private venture websites. This plan incorporates free SSL certificate and free dedicated IP.
While a shared hosting account is restricted to a solitary server, cloud hosting uses different servers. This plan is reasonable if your website gets more traffic.
This is their shared hosting plan advanced for WordPress controlled websites. It improves execution and shields your website from some basic WordPress attacks.
Virtual Private Server enables you to deal with your virtual assets on a cloud hosting stage. It is appropriate for websites with visit more visits.
With dedicated hosting you get a server exclusively to host your website, it also accompanies extraordinary duty since you’ll need to keep up with the running yourself.
At Hostgator customer service, they offer extraordinary services, with everyday telephone and live email ticket services.
You will also find their help services on your dashboard, also their help services show hundreds of questions and answers including video tutorials and articles.
If you ever have a consistent issue, you can request help or ask for your ticket be doled out to Adam Farrer, the CEO of Hostgator will personally answer to every ticket sent to his desk.
Like other webhostingÂ firms and administration, each hosting organization have their advantages and disadvantages.
Here are the advantages and disadvantages of Hostgator.
Hostgator ensures an uptime of 99.99%. In the event that you encounter downtime, you will get your money back GUARANTEED.
Hostgator offers 45 days money back guarantee, as other hosting companies offer 30 days money back.
You also pick a monthly or yearly subscription, but the yearly subscription will fetch you a discount.
Hostgator offers free hosting transfer for the first 30 days.
Hostgator does not offer a free domain registration. If you want a free 6 months registrations, go to Dataracehero Webhosting
You may experience delays when contacting their customer service, this is due to a large number of calls.
Now for the important questions.
Is Hostgator Right for You?
The answer is YES.
Hostgator offers you varieties of web hosting plans that will fit all your financial plans and prerequisites. Everything you need to build a websiteÂ you can get with Hostgator web hosting.
With over 2 million clients who have officially signed up with Hostgator web hosting, no matter your experience with the internet as a professional or a newbie, youâ€™ll find materials you need to take bring your website to next level.
Have you ever made jewellery, sewn clothes for your tots, or knitted a scarf?
Can you take amazing photos, build a bench, or create a picture frame out of scrap wood?
If yes, you need to know that you can make money by selling your crafts online.
If youâ€™re good at crafts, thereâ€™s an online marketplace where you can sell your handmade items. Itâ€™s called Etsy. You can open your own Etsy store and start to earn some extra cash from your hobby today.
First of all, before you start thinking about making money on Etsy, choose a name. Write down some of your contact details before you sign up. Then name your shop. Check the name’s availability using the naming tool.
Etsy has a great naming guide, so read through some of its useful tips and hints.
It pointless to know how to earn money on Etsy if you donâ€™t take action.
Firstly, add photos. Take several photos from different angles to give a proper representation of size, colour, shape and what the item really is.
You can use a camera phone, but make sure you use natural light. After uploading images, you can re-order them and change the thumbnail if you feel itâ€™s necessary. This is likely the first thing customers will see, so give it your best shot.
Photos-Add at least a photo.This is the first thing that connects a potential buyer to your product. Take as much time as possible to get the perfect shot. Use different photos to display various angles and detail.
Use several drop-down lists to choose suitable categories and give the right information.
Make sure you also include the price of the item. It can be difficult to price your item. To choose a price, you should take these points into consideration: the costs of making the product, the upfront costs, and the costs of listing the product.
Next, you have to create an informative description. Tell customers what youâ€™re selling, its use, who itâ€™s for, and any other valuable information. Always be helpful and honest.
Describe the item clearly in a manner that buyers would expect if they were reading about it. Get into the mindset of the buyer when crafting the message.
Then itâ€™s time to set your shipping. You have to do some research on this-no guessing! Check your courierâ€™s website so you donâ€™t end up grossly undercharging customers and not taking care of costs fully. Equally, donâ€™t overprice your shipping as this will put customers off.
Last but not least, pick a few search terms. You may pick up to 13 search terms for materials and general tags. Use all of them. You can tag phrases together, or tag them differently to get more customers if youâ€™re selling similar items.
Now itâ€™s time to enter your personal and bank information. The quickest and easiest way for customers to pay is to your bank account. However, you can set up payment mail (money order or check), PayPal, or any other means of purchase (such as meeting face to face and getting paid in cash).
You may pay your Etsy costs by PayPal, credit card, or Etsy account balance. Also, you can set automatic billing, or pay bills as they increase. Thereâ€™s no minimum payment as well.
Youâ€™re now in. Your shop is ready and you can now watch the cash rolling in. Click the account dashboard to view your account statistics-see what youâ€™re getting right, what you think you should change, and generally get a feel for your stuff.
On Etsy, you can also monitor things such as hourly activity, top keywords and traffic sources. You can also check the traffic map to find out what countries customers are browsing from. This can be really handy to help you adjust your listings and get more buyers.
In addition, there are tons of helpful tips and articles on Etsy, covering topics like photography, shipping, legal requirements etc.
Setting an Etsy shop is absolutely free. You donâ€™t have to pay for membership or incur any other expenses to set up your store, but youâ€™ll incur these costs as default:
3.5% of the total selling price
$0.20 for listing one item (you can refer a friend to open a shop and earn 40 free listings)
Additional extras, which charge different fees, include promoted listings, automatic re-listing (at $0.20 each), shipping labels, deposit currency conversion for items listed in a different currency, multiple-quantity fee for the sale of more items, and direct checkout.
Income generated by your Etsy shop is deemed self-employment income, so youâ€™ll need to complete IRSâ€™s Schedule C form, irrespective of your form of business. Many people prefer a sole proprietorship when opening their online shops.
Thereâ€™s no legal requirement for forming a sole proprietorship, and you may hire contractors and employees. If you have to pay self-employment tax, youâ€™ll also need to complete a Schedule SE form.
Earning a decent income on Etsy is not that difficult. You can certainly set up a successful Etsy shop and start earning some cash from your hobby.
Whatâ€™s more, thereâ€™s good news to owning an eCommerce business. You can have fun making some extra cash on the side, or decide to grow it. And thereâ€™s even a vacation mode on Etsy, so you wonâ€™t need to worry about business when you get away.
What are you waiting for now that you know how to make money selling on Etsy? Get started now and list your first handmade item.Create Etsy account
Relationship marketing definition:Â A relationship marketing strategy is a strategy which is created to encourage customer loyalty, communication and future engagements. The strategy also aims to develop a bond between the customer and the business by directly providing information which targets their needs and interest through promotions.Â
The goal of marketing relationship is to get the customers interest, retain the customers as long as possible and to also grow or increase customers engagements through targeted promotions.
Relationship marketing is a very important factor to consider if you want to create an effective customer relationship management(CRM). This is because relationship marketing aims to cultivate a long-term customer engagement and foster customer loyalty instead of only focusing on single sales.
Classic relationship: This is having a classical network and distribution channel relationship between the business and customers.
Special relationship: this form of relationship exists between marketers, service providers, interactions between customers, suppliers, new and old customers.
Mega relationship: this has to do with personal and social, having knowledge of the customer, and engaging in mass media relationships.
Nano relationship: this covers the product and services within the company, internal customer relationship, the relationship between operations and marketing management, employees relationship, external providers of marketing services and the business owners.
The content marketing can be described as core marketing strategy which is focused on creating and distributing valuable contents, this valuable content must be relevant and consistent which in turn attracts audiences, and also retains that clearly defined audience.
With these clearly defined audiences, there is also a high chance of driving actionable and profitable customers.
When content strategy is mentioned, it is been referred to the all the planning work involved, the development of the content and the management process of the content.
The content strategy helps businesses manage all their content.
A content plan is an outline of all important basics, requirements for your content.
The content plan tells you how to execute, whom will be in charge, what topic areas to cover, what content to create, when to create such content(time frame), how to share the content, and what call to actions should be used.
To be successful as a content marketer, you have to have to know the types of content marketing and how each of them will help achieve your marketing goals.
To present to your audience or showcase a more effective explanation of what article is about, then video content marketing is the answer. Video contents are usually more explanatory, more educational, more entertaining, more engaging and draws more attention.
Writing a blog without images is like driving a car at night without headlights. Content images are key to keeping your blog post interesting to read.
Most internet users today are using their mobile phones to surf the internet, and images which appear bold, high quality and large enough attract more attention than those without an image. Articles or blog post with images are 90% more likely to be viewed than those without one.
When sharing your articles on any social platform, you need those article to have images which not only catches the eye but portrays some visual image of what the article is all about.
If you post an image on Twitter, you are more likely to get those images retweeted, this also applies to Facebook, Instagram and all other social platforms.
Images help to boost shares of the articles and build backlinks.
These images can be-
This is also a good form of content marketing strategy. A screenshot helps you capture certain informations which you can relate to your audience. To relate what you’re offering to your audience, a screenshot could do that easily, because it gives your readers the first-hand information.
If your blog is about transferring a domain, a screenshot of how it’s been done will make your article not only interesting to read, but also increase the chances of re-shares and interactions between readers.
Memes are ideas which can reproduce or interpret the actual message to mean something else to different people. An image or cartoon of a woman searching a bin in blogging article can represent a woman searching for information.
Today, memes are playing an important role as part of content marketing strategy.
This is used to bring together a large information or points together, by presenting complex information in a more digestible way.
If you are thinking of driving traffic to your site and see your services and products convert, think content promotion strategy. It is the pillar, the foundation and the backbone of your content marketing practices.
Driving just one unique visitor to your site can bring a huge change to your website and content as well. But visitors don’t just come, you have to go find them through content promotions. Your job is to create good content, drive traffic and visitors, their actions on the site will generate leads and sales.
Below is some basic list of content promotion strategy that both professionals and newbie can use.
Influencer marketing strategy is also referred to as influence marketing. This is a marketing strategy that is been directed and targeted at influential individuals.
By targeting these influential people instead of the whole market through marketing activities, they a been presented with products and services which they have previously purchased or are potential buyers of the product and services.
A content strategist is someone who is in charge of the planning, development and management of all content information which is produced for or by a company. The define what content is, what it is about, creating the content so it delivers supposed value on behalf of the company.
Content strategist represents the image and voice of the company and also drives effective communication through image and word.
To create a good website content, Follow this steps.
Email marketing involves sending a large number of promotional messages to a group of persons via emails. The people who receive this emails are either customers who have used the service or just potential customers. The process of sending this promotional or commercial messages are referred to as email marketing.
Digital Marketing is a form of marketing which involves the use of digital technologies to market and promote products and services. This process takes place via the internet, mobile phones, display adverts and other digital mechanisms.
A marketing plan has to fit the needs and situation of the marketing process. The essential contents of a marketing plan include:
Marketing automation is using a software to automatically share and post contents on social media, emails and other websites.
This software makes marketing automation easier by accomplishing different tasks at once.
Fancy bringing a product to market in 2018? As much as it may look like a straight forward process, if bringing a product to market is done wrong, it could wipe out your life savings, Start Up operating capital etc.
On the other hand, if you get it right, your business could experience an exponential growth and profitability. A plethora of products and services launch every day, it’s a shame that you have been sitting on your product invention for years.
As a matter of fact, a growing number of small business owners fail to bring products to the market for decades. The main contributing factor for their failure is lack of knowledge and definitive guides on How To Bring A Product To Market.
Luckily for you,we have this guide to help you through the most essential steps you will ever need to bring a new product to market over and over.
Though it sounds really simple, the best ways to the market with your product is taking a good look at your nearest product you are most likely to be competing with.
If you have been to a business school, chances are that you learned about SWOT analysis. This term breaks down the process of looking at your competitor’s product strengths, weaknesses,threats and possible opportunities that exist in the market.
By looking at your competitors business model, distribution networks they use and what you could do to stack up a better value proposition will come in handy when scoping your market audience.
All you have to do to get started is pull up a spreadsheet where you will list down all businesses active in your target area. This biggest mistake many small business owners make is assume that their product is uniquely positioned that there is no competitors.
It’s crucial that your focus should be your customers, put yourself in their position and imagine what would be the motivating factor that would make them buy your product over your competition.
Once you are done with this step, take a step back and look at what you can do to exploit existing weaknesses and opportunities. This can easily be achieved by looking at marketing materials used by your company, their ads and how they position their offers on the website if it is available.
I remember more than once when I have had to purchase a product from my competition just to see how their sales funnel is setup and what OTO or upsells do they bundle up to an offer.
At the very least you must subscribe to your competitors email list so you can see how they are using email marketing campaigns to get more customers into their business.
Now that you know what your competitors are up to, it’s time to map out your plan of attack. This evaluation will expose who are your direct threats, where they are weak and which value proposition best fits the current buying metrics.
The success of every new product launch demands that you have a sound budget, that being said, smart business owner aim at achieving that with minimum capital outlay.
Now if you want to score big,while making massive savings, there are essential factors that play a huge role. Doubling down on your niche market research will show you which customer avator is most likely to buy from you than the other.
The best entry point could be regular buyers, currently buying from your competition, however these customers would most likely jump ships if new features were introduced at either same price or slight upgrade.
This is your best case scenario when you have prospects who have demonstrated a sure need for your offering, you know they can afford the price on the market as they are active buyers from your competttion.
Make no mistake, most successful businesses on the market feel the needs of their clients than trying to create one. Even if you know for sure that your clients may have a need but would not be in a position to know they have that need, be cautious not to get caught up in an expensive cycle of civic education.
Frankly speaking if you are just starting, it is advised that your focus shouldn’t be trying to re-invent the wheel.
This stage should be very easy to navigate as you now have a clear understanding of both your customer and competition.
A unique value proposition is about you standing out among your competition, please understand that the moment you are in the market with your product, they will also be sizing you up to see if they can take advantage of what you are offering.
This is where now you really have to know exactly why every customer who chooses to buy from you are really doing it. Ask yourself which of the features within your offer speak directly to your customer’s impulsive nature to switch to you than others.
The bottom line here is understanding your customer’s decision drivers will make you the market leader so take it seriously that you understand you prospects.
You will really need to understand you entry point into the market, what game plan do you have up your sleeves and how you are going to bring the game to your competition.
This will require you to make a decision on which marketing channels will you play an active role. Many small business owners have this all wrong, they try to market via Facebook, They go to Instagram before bouncing to Youtube and Pinterest.
By doing this you are diluting your efforts , soon you will realize that a hunter who chases two rabbits at the same time end up catching none. Make your choice early in the game where you will put your focus then play a long game in it until you see some wins then scale up by exploiting the other options if possible.
A good strategy if you are aiming for organic traffic is to focus on each channel for a minimum of six months in between each channel In my article about inbound marketing i explain this clearly, what you will possibly realise is that embrassing multi-channel distribution is probably inevitable how ever you need to plan this out well so it does not drain on your limited resources.
A good example of a marketing strategy for a low cost yoga mat to folks who can’t afford yogi clubs or highly priced products. In this case your choice of attack is direct marketing plus online lead generation as your primary focus, then you decide to make direct response, tv and email marketing all linking your buyers to your website.
Having spent all the money to bring a product to the market, only a fool would skip the testing part of the whole system to see what is working and what needs fixing in your product or service.
What Should You Be Testing? At this stage, test everything from your ads, product brochures to your marketing messages that are tied to your service bundles.
Focus groups is the old school way of testing that still works like magic today,depending on your budget the other option will be to commission an online research or give a few beta testers to solicit feedback.
At all costs, no marketing materials should be created unless testing of your products or services is completed.
Product launch or services is all about public relations, If there is anything you need to get right at this stage, it must be the role PR plays in your product launch.
Marketers who know how to work the media use PR tactics to get their stories into the news mainstream, they will never launch a product or service without winning a few interviews along.
There is no cheaper way of promoting your products and elevating you brand reach than earning press reviews which is deep-rooted into the community your customers live in.
What ever you do, make sure that by the time your product catches the whirl wind of mainstream media, you better be ready to make sales on your website as well as over the phone if it is an option.
From this stage, no stone should be left unturned, from social media to email marketing, all that should follow along with your press roll out.
The following weeks and months will be crucial for the life circle of your product you bring to the market place, tweak and flip things around where necessary never leave a campaign to chance, always be prepared to adjust your strategy until you strike a balance.
Most products or services that peak and take a nose dive always have one thing in common,they both lack updated marketing efforts to keep up with customer perception over competition.
A quick glance at your marketing strategy, you will start noticing patterns that lead to factors influencing the slump or diminishing sales over time, this is the perfect time to revise the value proposition to see if you can align it with the altered message otherwise if this is not a viable option then consideration to have it phased out are always the best option.