Business is Simply Business. Or is it that simple?

[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........

[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.

[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.

[shani]

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