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Thread: Business is Simply Business. Or is it that simple?

  1. #11
    Junior Member RogerH's Avatar
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    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...

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    Dave A (04-Feb-10)

  3. #12
    Site Caretaker Dave A's Avatar
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    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.

  4. #13
    Diamond Member tec0's Avatar
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    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.
    peace is a state of mind
    Disclaimer: everything written by me can be considered as fictional.

  5. #14
    Platinum Member sterne.law@gmail.com's Avatar
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    Innovate or Evaporate
    Anthony Sterne

    www.acumenholdings.co.za
    DISCLAIMER The above is merely a comment in discussion form and an open public arena. It does not constitute a legal opinion or professional advice in any manner or form.

  6. #15
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    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!
    Sean Goss We all are scared, but only few are brave.
    www.sgafc.co.za

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    Dave A (11-Mar-10)

  8. #16
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    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........

  9. #17
    New Member businessmentor4u's Avatar
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    Lightbulb 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.
    Last edited by Dave A; 26-Apr-12 at 12:30 PM.

  10. #18
    Diamond Member Blurock's Avatar
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    Quote Originally Posted by sgafc View Post
    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.
    Excellence is not a skill; its an attitude...

  11. #19
    Full Member shani's Avatar
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    quality price service all important. but service is the most important one.
    http://yihaolamp.com
    professional in indoor lamps manufacture

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