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Q - Where do I start?
Q - How much will this initial online business promotion cost my new web business?
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People enjoy a lot of comforts as they go through life each day. Have you ever wondered who are responsible for all these life's comforts? You have to thank the entrepreneurs for it. But, what is an entrepreneur?
Entrepreneur has many meanings. If you want to know exactly what it means, just keep on reading.
A person who assumes business responsibility and the risks that comes along with it is called an entrepreneur. As an entrepreneur, one expects to make profits, whether big or small, depending on the business he or she is involved in. generally, the entrepreneur decides which product or service to offer, obtain the needed facilities, hires the required labor force, acquire production materials, and provides for the capital.
There is no assurance that the business will become a success. However, if the business proves to be a success, the entrepreneur will reap all the benefits and rewards in terms of the profits. In case of a loss, the entrepreneur will also be the one to suffer.
Assuming business responsibilities is definitely not an easy task. Not many individuals are willing to take huge responsibilities, and most especially take all the risks. Only an experienced and knowledgeable individual will dare to become an entrepreneur. The ultimate goal of an entrepreneur is to earn profits.
By putting up a small business, you will also earn limited returns but by establishing a big business, you will also earn more profits. The choice will depend on the entrepreneur and his or her available resources.
As the most important person in a business venture, an entrepreneur will be the one to decide which product or service to offer. He or she must be able to determine the needs of the people and provide the answer to such needs. A careful study of the targeted market is required. This takes time because one can't decide immediately what product or service to offer.
Once the products or services are identified, it is now time for the entrepreneur to obtain all the needed facilities. This will include the building or the place of business.
Along with it are the other things needed such as the office furniture, fixtures, and many other things. The capital is usually provided by the entrepreneur and a part of it will be allotted for the acquisition of the facilities. Later on, these things will be considered as one of the assets of the business.
Recruitment of the labor force is also an important part of being an entrepreneur. The business will not succeed if it doesn’t have a loyal labor force. Everyone should work together in order to achieve success. It is therefore of utmost importance to hire only the qualified employees.
As you can see, the entrepreneur has to take care of many things. This may be one reason why not many individuals are willing to become one. If the business succeeds or fails, it is all because of the entrepreneur.
Now that you know what an entrepreneur is, would you like to become one? Well, if you have the right attitude, skills, and qualifications, you too can become an entrepreneur. It would be best to embark on a humble beginning. Don’t attempt to reach the peak of success all at once. It takes hard work, dedication, and perspiration. You must take one step at a time.
One good thing about being young is the opportunity of exploring beyond your boundaries with a good excuse of “because we’re young”. And this is what makes young entrepreneurship fun and ideal.
A big advantage that teenagers have is less responsibilities and more time to waste. Unlike adults who are stretching their 24-hour life thinking on how to make a living. Although the risk would be immense with lack of experience and knowledge, a teenager can start with what he knows…being young.
New entrepreneurs aging 16-21 are showing more vitality and perseverance to engage in a profitable market industry. Growing adolescent minds develop as fast as mobile companies introduce new breed of mobile phones. An ideal teenager can earn as much as $50 a day. Now, are you paying attention?
Think Young
Majority of our population is composed of teenagers with curious mind. Introducing a new line of clothing that looks like a blast from the past would not catch their attention. When you think of putting up a business intended for the youth like yourself, is should coincide with their heart’s desire. Look at the path where they trod.
Extract it From Reality
Practical people always go for what they need instead of buying what they want. Recognize the difference? Something you want wouldn’t turn out as something you need. You would want apple juice to quench your thirst but all you need is water. Yet something you need would always be something you want. Pacify the masses with what’s essential.
But don’t settle to what is traditional and basic. Instead, add up to what’s already there. Invent. Awake you innovative mind. Improvise. Water would always be water. But when you mix minerals and electrolytes, wham! an energy drink is born.
Be a Techie
Information before is wired up to a tube. But now, it flies with the wind. Computer technology is becoming a must among everyone. It has successfully improved the lifestyle of business establishments, big or small. If you try to dig into the internet, billions of advertisements flood your screen. Why not clicking on one of them? You never know when it might interest you.
Count Your Savings
A penny for your thoughts? Nah, keep your thoughts, I’ll keep my penny. Putting up a business is a tough deal especially when you don’t have the appropriate amount of money to fund it. But where would a kid like you get it when your piggy bank has been used up? If you’re 13, talk convincingly to your parents or your close relatives and try to make them understand that you are old enough to run your own business and don’t let them think that you’ll just use the money for a video game.
If you’re 16, you could borrow it from your friends or significant someone. The moment you turn 18, more opportunities to borrow money or capital would come through. Business firms allowing enthusiasts to accumulate a certain kind of amount plus interest. Lending companies as we call them. With determination, you could see your money rolling.
Fine a cure for teenage immaturity. Engage yourself with what you’re made of. Don’t be satisfied sitting at one corner reading your notes. Being small doesn’t mean you have to aim and act small. Live to conquer. Start with something.
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Get Maximum Profit from your Advertising by Will Dylan Most small businesses operate with very small advertising budgets. It is critical to the success of any business to ensure that their advertising dollars deliver as much value as possible to the bottom line. Here are some steps that you can take to make sure you get the most bang for your advertising buck: Target your Advertising Ideally, every ad that you place would be seen only by potential customers for your business. In
reality, you won't find very many advertising opportunities that deliver such a utopian business proposition. The real key is to locate advertising opportunities that will target your potential customers as closely as possible. When evaluating every advertising offer, ask yourself How closely will this hit my target audience? Could I do better?. If you are advertising your new website that offers a new vitamin supplement for dogs, advertising on a pet website would not be as advantageous as a dog related website. A website on the topic of dog food and nutrition would be even more targeted, as almost 100% of the visitors to that site would have some interest in dog food and nutrition That's exactly the audience you are looking for. Vary Your Offers Remember that your well-defined audience is comprised of certain groups, each with its own reason to buy your product. On the dog food and nutrition website, you may encounter breeders, veterinarians, family pet owners, and
breeders. They all want the same thing (a healthy happy dog) but for different reasons. The breeders wants their prized stud to live a long life and have lots of puppies while the veterinarians are interested in offering the best possible advice on nutrition to their clients, and so on. When you are composing your ad copy, keep these different groups in mind, Write an ad that speaks to each of their buying motivations and rotate your ads to ensure you cover all the potential buyers for your product. Don't Over-Commit Many small businesses jump at the chance to buy ads at a volume discount, cutting their cost per ad buy purchasing 6 months to a year's worth of advertising up front. On the surface this may seem like a good way to maximize on your advertising dollars. However, if you've done a good job of targeting your potential customers, you may be purchasing too much advertising. It is said that it takes 7 messages from a company to get the average customer to act
and actually purchase their product. As you define your target market more effectively (from pet websites to dogs to dog food), that number decreases, as you don't need to do as much convincing to motivate a potential customer to purchase your product. Your advertising dollars, therefore, would be better spent in 3 month advertising programs. After the 3 months, move to another website or magazine, and continue to rotate your ads to maximize the reach of your message. Measure Your Results Without tracking your ad responses and measuring your results, you'll never know how well your ads are performing. It is critical to track your response rates, primarily though the use of tracking URLs. There are numerous commercial services available to help you track the origin of your web traffic. Your detailed site traffic logs may also have such a feature. A tracking URL will still direct surfers to your site but it will also capture the site from which they came, giving you
some valuable feedback on the performance of your advertising. Off-line businesses may use coupon or offer codes to determine the success of their various advertising efforts. Something as simple as a small numerical code in the bottom right corner of an ad can determine where a customer saw your ad. This in turn will allow you to compare numbers monthly amongst your various advertising purchases and weed out those that are not generating any business for you. Many people measure ad placements, but this is only the beginning. You must also evaluate ad copy, timing, and layout. Ads may have seasonal fluctuations in responses rates and your potential customers may respond differently to a change in your ad copy. So keep a detailed tracking spreadsheet to record your ad response in all of these areas. This will give you the information you need to make informed decision about your small businesses advertising budget. --- Will Dylan is the Author of Small Business
Big Marketing a powerful e-book for small businesses available through his website www.marketingyoursmallbusiness.com .
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