Business is Simply Business. Or is it that simple?

[businessmentor4u]

Every business is not just like "any old business"; that is for sure. Whether the business is a single entrepreneur, a home industry, an Internet Marketing business, a small manufacturer, a huge manufacturing concern, a conglomerate, and so on, every business is unique and needs to be addressed and managed as such within it's unique sector.

But, at the end of the day, when one analyses the operating results of any business with a view to planning the future, reading the bottom line, drafting next year's budget, costing individual products and services, assessing staff performance and salary increases, restructuring production and procurement of goods and materials, it in fact does boil down to exactly the same thing; managing the business optimally in order to maximize profitability and growth in the short, medium and long term.

The same questions arise, such as:

• Are all our products cost effective to produce?

• Can we save on the procurement of materials or products?

• How do we improve productivity and maintain quality?

• Is our margin on each product sufficient?

• Will we be able to grow the business, and if so, starting when and how?

• Are we targeting the right market?

• Is the business self-sustainable?

There are hundreds of questions that arise at all times in the business environment, in all sectors, and it would not be right to even attempt to cover them all in the leading thread of this discussion.

The basis of my knowledge and experience is a commerce qualification and thirty years experience, at various levels, in the accounting and business environments, plus fifteen years as a writer and a business mentor.

However, my knowledge and experience of Internet Marketing, as a business process, is almost zero. Business on the Internet is about to boom.

Regarding doing business on the Internet

What are the questions that need to be asked in terms of the regular business management as mentioned above?

• Do the abovementioned standard business questions still apply? For example, "Is the cost of PLR content really worth what it contains, or is it better to write it oneself?" More cost effective to produce?
  
• Where can I source quality digital products?
  
• How does one deal with all the hyped-up marketing Emails one receives?
  
• How is the best way to project a professional business image, without the hype and Spam?
  
• Which is the best form of advertising on the Internet; traffic exchanges, text ads, banner adverts, opt in mailers; and why so?
  
• Once again, I won't list all the questions at this juncture.

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.

[tec0]

Well who ever said business is easy should be shot in the foot and left to hop trough the Sahara desert.

Business platforms are unique in structure, commercial and or industrial is a world apart, but again what bout profit management? Is profit management being done and how can you benefit from 3d party investments... Is 3d party investments a benefit or a curst? What insurance and contract security do you have? Is your contracts sustainable... if so why?

I know I sound stupid but the thing that most owners forget is “Profit Management” and yet it is so important to know that there is some “security investment” that will save you from closure.

Fact is nothing is easy anymore, and make no mistake; everyone is competitive so how will you get ahead... most of the time it is who you know that will make you or break you and in the end it is a nightmare.

Most people look at the “conduit” like the internet and expect it to be the answer but it is not! The system you devised must use structures “conduits” that is available and then only can you monitor success and failure. It comes down to your business’s “system structure” and planning. And even with a well developed “system structure” you can still lose...

[BBBEE_CompSpec]

One thing should be remembered. When you went into business you did it with a few aspects, namely:

1. To determine your own working hours
2. To write your own salary cheque
3. To set in place your own authority

So why do you go into business to work long hours, for peanuts, and work for your employees. Eish!!

Your ROI is very important to the business. Every employee is supposed to generate their own salaries. No matter what type of work they do for you. You must have an organogram in place, as well as a production flow diagram. This assists you in detailing problems within your business. Once you have all legislation and plans, flow charts etc, business becomes easier. The sweat doesn't go away, the odour is removed.

[BBBEE_CompSpec]

Remember! SERVICE, SERVICE, SERVICE. Competition is nothing without service. People will come to no matter what your price is, as long as you offer the service they seek and keep to it.

[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.

[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?

[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 <==

[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.

[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.

[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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[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...

[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.

[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.

[sterne.law@gmail.com]

Innovate or Evaporate

[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!