Business is Simply Business. Or is it that simple?

[shani]

quality price service all important. but service is the most important one.

[Blurock]

Ever noticed when you desperately in need of business, you never get it! But when you relaxed, the bills are paid and have money in the bank, business just cant stop rolling in

Desperate people do desperate things. Your customers soon realise that you are desperate for business. Your body language, tone of voice and general conduct gives you away. This created doubt with the buyer.

I have seen sales people talk themselves into a deal, but miss the closing opportunity and talked themselves right out of the deal again! You must know when to stop talking and close the deal. Very few people will buy from a fast talking, over-exited salesman.

A relaxed sales person who waits for feedback and information installs confidence with a buyer. The buyer also feels relaxed and not as if they are being forced into a sale. A potential buyer is more likely to buy if the environment is right.

[businessmentor4u]

Monopolies crush entrepreneurs on the Internet

Thanks for all the input to the discussion. One thought has leaped to the fore: Monopolies crush lesser competition. Yes, in every realm of business, including the Internet. What with SEO, Joint Ventures, Safe Lists, and many more.
Many people offer tools to optimize SEO and one's presence on the net, but none have worked well for me yet. The thought that your website/page would most probably appear as the ten thousands one in the search engines listing is enough to demotivate anyone. And considering the cost involved in improving one's marketing effectiveness on the Internet.
Is it true that wealthy monopolies dominate the Internet as well as every other field of business? I'm afraid so. But surely, there must be a solution to this dilemma.

[AdriaanEst]

Study the type of business

Hi all. Doing business means doing business. Whether you are on the internet or not - the principles should stay the same. In other words, there are 4 principles that all businesses must adhere to, it's called in the VC market, the Risk/Reward equation and it depicts the following: Risk/Reward 1 = Management Profile, 2 = Market Profile, 3 = Operational Profile and the 4th is your product profile. This is the stuff any investor or buyer worth his salt will look at prior to making a decision. Now whether you are looking at being solely a web based entity or using the web as an add-on to your existing brick & mortar business, the principles must be adhered to in both aspects. Each division within your business should adhere to these principles. I'm not going to discuss these principles in depth here since it would take all the available space but will discuss it seperately if anyone want's to know more.

Doing business on the internet could thus be an add-on marketing effort or a fully fledged business unit on it's own. The biggest problem in the SA market (and in a limited sense in the global market) is that the majority of people see the internet (and their websites) as just another form of brochure - it's just electronic. The main reason companies want (and do) to use the internet to sell more of their products is that they realised that their is a bigger market out there than just their existing client base locally. So yes, you will still have your daily client base in your specific area but with an add-on of potential global buyers that won't have the luxury of actually "feeling and touching" the actual product before making a decision. This is where your "brand equity " comes into play - if you do not have a solid image out there the internet buyer is not going to just buy.....

There are a lot of really up to date and highly effective sites on the web that could lead you to the correct decision as to how you should set-up this new division within your business. There are also a lot of blogs and sites that cater specifically for assisting new entrants with some real advice and suggestions. I still have to find a local (SA) entity that really understand the mechanics of putting your business on the web and ensuring a really solid ROI. All of my past clients that utilize the web and are very successful at it (proven bottom line profit) use "offshore" entities to assist them.

I still suggest and almost want to beg local companies that to be really successful (be it on the internet or not) they must follow the Risk/Reward Equation principles - too many companies locally think they are successful but in reality they're not. The proof is in the pudding - and the pudding is the day someone (i.e. investor) walks in and say yes - I love this and I want it!

Real Net Worth is measured in the market as what is someone willing to pay for it - not what the local banker or independent valuer estimates the worth at. You could be a billionaire on paper but don't have any cash in your pocket - which means your dead in the water........

[sgafc]

Ever noticed when you desperately in need of business, you never get it! But when you relaxed, the bills are paid and have money in the bank, business just cant stop rolling in

Some call it Murphy's Law, others call it Law of Attraction? Oops its not the Law of Attraction, because the Law of Attraction recommends that you constantly have to think about things to attract it. Is the converse not perhaps true. Not Obsessing about growth, and stressing about money, actually "attract's it".

Whatever ones beliefs are, shouldnt we as business people, take it a bit easy? We work long hours, run around, STRESS, and have nothing to show for it at the end of the day.

Can a business not be managed from a HIGHLY RELAXED perspective, as opposed to the HIGHLY STRESSED environment we all used to. The succesful business people I know are the ones who also happens to be the most relaxed.They enjoy life, play golf cycle, holiday, and many ask where they get thetime.

Dont get me wrong, not suggesting we stop working. Close that LEAD, call those prospects, manage your funds, follow up on your debtors.
Relaxation is not the result of ACTION, but a FACILITATOR of ACTION!

[sterne.law@gmail.com]

Innovate or Evaporate

[tec0]

Let us take a step back in time. Telephone marketing and product-catalogues is really an old way to do business. You see something you pick up the phone and get more information then you buy it via credit-card or – post a check “back in the day”

Now the internet is just a very big catalogue and its product lines is basically limitless. Now you have online banking and overnight delivery to add to the picture. So with that in mind one realise that the internet is really based on an old idea when it comes to doing business.

However, nothing comes close to have the item in your hands. The quality can be inspected and this is the reality of humans we like “handle” things before we buy them. I honestly think the internet must cross over to the physical world and the physical world must interact more with the internet.

Meaning shops must still be both physical and virtual to allow for a proper market medium. However the big question is always COST.

[Dave A]

Some great thoughts there, Roger

It got me thinking about (perhaps) the pioneer of online business success - Amazon, and applying your thoughts to Amazon vs the traditional retail bookstore.

Perhaps, despite all the hoopla that Amazon is killing retail bookstores, the physical shop can still survive or even thrive - if it starts adapting to what it is that gives Amazon an advantage - because after all the physical bookstore does still have some advantages over Amazon.

Perhaps it's not the internet (and Amazon) that's been hurting book stores, it's that they haven't adapted to the client expectations online has created.

Or put another way - your thoughts cut both ways -which I tend to see as a good sign that you're really onto something here.

[RogerH]

Hi, this certainly looks like an interesting, and potentially vibrant discussion.

I think one of the key issues with Internet based businesses is to clearly identify what about "good business in general" has to stay the same, and what new aspects the Internet introduces... here are some ideas (maybe food for thought);

1. I beleive that good business remains good business, the basic principles remain no-matter what platform or model one uses;
2. A crucial issue for many businesses (Internet and Traditional - for want of a better word) is to FULLY UNDERSTAND how they actually make money - profit and not just cash flow. I have seen many businesses over the past year or two grind to a halt without the operators really understanding why... they did not really understand where the money came from, what motivated people to buy, what factors influenced there business model;
3. Linked to this is then the key question - what role does the Internet play in my business? I have no doubt that the Internet (broadly speaking, communication, social media, online ordering etc) can paly a role in any business out there, especially with the number of access points exploding (not just PC's and Laptops but cellphones - and just about every new thing is connected). But lets be real - for some the Internet simply provides another shop window, for some the communication elements are critical and improve customer service, for others their actual business model is buitl around the capabilites of the Internet... to properly use any "tool" one needs to FULLY UNDERSTAND what it is going to...
4. It is also important to understand the "pitfalls" of any "tool" - and the Internet certainly promises much, but there are a number of issues that it introduces that could potentially damage business - maybe it is the transparency, possibly the speed, certainly the changing expectations of customers... again identify these, understand them, build your business with these in mind

I do agree that the Internet is exciting, dynamic, transformational, etc,etc...

Business is changing - but at the same time it is staying the same, perhaps the biggest challenge is to identify what is changing and what is staying the same...

Your thoughts...

[businessmentor4u]

Internet marketing competition and info overload

The rat race continues and the Internet Marketing competition is extreme. I receive about 200 emails per day, all containing promises of wealth, easy money, instant wealth, multi-leveled earning matrices, effortless wealth creation through online home based businesses, etc. Enough already! I now know what is meant by information overload.

And then one joins many of these schemes which don't produce one cent. The lesson is to not be a target, to not be susceptible to the attraction of these schemes. There is no 'get rich quick scheme' that works;to the best of my knowledge. Some of them can assist and can help one to succeed, but they do not do it automatically. One still needs to draw up a marketing plan and strategy in terms of who the target market is, where the target market is, how best to gain access to these people, how to use opt in list builders, which are the best ones to use, learn how to use lead capture pages, landing pages, mini sites, payment merchants, and so on. There are also many techniques to consider, an example of which is Blogging, article writing, PLR articles and Ebooks, etc.

The only way to succeed in Internet marketing is to take a course in it, learn as much as possible with intent and to draft a detailed and well structured marketing strategy and plan; and then to implement it and work at it continuously, without spamming anyone in the process.

It is true what they say - THE MONEY IS IN THE OPT-IN LIST - without which one has not even begun to scratch the surface of successfully selling to anything to anyone.

This is a tough call but it's certainly not impossible. Keep your chin up, be strong and commit yourself to success.

Vaughan Jones.

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[BBBEE_CompSpec]

They are actually Master Card Transactions. Mastercard comes out with both Debit and credit cards. I work with MasterCard. The problem with business overseas is the rand/dollar exchange rate.

[tec0]

Why is internet marketing failing so badly in South Africa? Credit cards or rather the lack of Credit Cards! Point blank to do business on international websites you need a credit card because a simple bank transfer to “Scotland” is not a possibility at this point in time.

Websites with bank transfer facilities do much better than those with “Credit Card only” facilities. Thus it comes down to “money transfers” and not to mention security. The truth is we need more people to have access to Credit Cards to help with internet shopping “especially if you wish to shop outside South Africa”

Not to mention the internet Cost!!!!!! That might be looked at as a problem on its own.

[businessmentor4u]

Valuable inpu

Teco, thanks for your response. Yes, profit management is crucially important in any business, without which there will be no growth, sustainability will be at risk and closure imminent.
Regarding the third party investment:- Any investor worth his salt will analyze the business's performance, look seriously at past & projected future returns on equity, to mention just one factor, and thereby determine whether the investment is worth the risk. One thing is for sure; no one should consider investing in businesses simply to maintain current financial position/trend. This is because, with the decreasing value of currency and global economic conditions, it won't take long before the business will start making a loss. Growth and sustainability should go hand in hand.
The Internet is a conduit through which marketing can take place. Do you think it will become more prominent a conduit in the near future and will it become easier to market in the Cyber Environment? If so - how?

BBBee - True what you say about the reasons for starting one's own business. But in the same sense, if one started out correctly with a comprehensive business plan, containing all the necessary components such as the financial projections and budgets, and including a detailed feasibility study, then one might be in a secure business scenario.
Would you agree with this, the fact that no planning, or insufficient planning is an accident looking for a place to happen?

Dave A: thank you for accepting the invitation and for your input.
...."it needs an online webform order option, for sure. So how would one go about that?" Very good question. How would one deal with this? I have many years business experience, but as an Internet marketer I've had basically zero.

Where are all the Internet marketers and gurus?

Sincerely,

Vaughan

P.S. Can I give you a free Ebook I wrote that will help assure your business success?

If so go grab it now:

==> http://businessmentor4u.webs.com/plrlordsgiveaway.htm <==

[Dave A]

INVITATION
Here's an invitation to all Internet Marketers and business operators; let's discuss this new type of business, thereby mentoring one another, and optimizing our opportunities for success in Cyberspace Business.

I'm game. I'm just thinking how we can tackle this.

I'll tell you one thought that occured which might be a starting point - BBBEE_CompSpec's SME Labour toolkit. I made an enquiry and when I look at the process flow - I'll put it this way - it needs an online webform order option, for sure. So how would one go about that?

[BBBEE_CompSpec]

Please excuse the typographical errors. I am lying on my back with my laptop on my chest, typing. Not easy. I need to get out of this bed. My head hurts from the pillows.