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Tag Archive: internet business

What Is Your Niche ?

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What Is Your Niche! Starting Your Internet Business Online (Part Two) If You Haven’t read (Part One) I recommend you Click Here ! Since you are here you obviously have decided that you want to start your own Online Business, I say welcome! Lets get going. You have made the first step already now let us dig a little deeper . I know you are all hyped and ready to get started right? That’s a good thing . But remember what we discussed in Starting Your Internet Business Online ! Anyone can start an online business , Our goal is starting a successful online business ! This takes a few more decisions on your part. There are a few more Questions you should ask yourself.(1) What type of business would you like to start? (2) Do you have or do you need products to sell? (3) What do you have for capitol ? If you are like the majority of us the third one is a hard one to swallow ! Even the rich want to make money with as little investment as possible. Well you know how they say ! You Get What You Pay For ! Well rest your mind a little bit ! That Is not necessarily true In the Online Business world . As we discussed in part one you can spend a lot of money and get nowhere if you are not careful. When deciding what type of online business to start the first step is deciding what type of business you want ! In the Internet Business World this is called finding your niche! There are many things that you need to ask yourself before making this decision! (1) What inspires you ? (2) What are your hobbies? (3) What are you good at? (4) Do you have help & support in this endeavor ? Or are you starting this alone like many of us? If you were like me my first big question was ! What Is A Niche? So here you have it!! A niche market is the subset of the market on which a specific product is focusing; therefore the market niche defines the specific product features aimed at satisfying specific market needs, as well as the price range, production quality and the demographics that is intended to impact.

Every single product that is on sale can be defined by its niche market. As of special note, the products aimed at a wide demographic audience, with the resulting low price (due to price elasticity of demand), are said to belong to the mainstream niche—in practice referred to only as mainstream or of high demand. Narrower demographics lead to elevated prices due to the same principle. So to speak, the Niche Market is the highly specialized market that tries to survive among the competition from numerous super companies.

In practice, product vendors and trade businesses are commonly referred as mainstream providers or narrow demographics niche market providers (colloquially shortened to just niche market providers). Small capital providers usually opt for a niche market with narrow demographics as a measure of increasing their gain margins.

Nevertheless, the final product quality (low or high) is not dependent on the price elasticity of demand; it is associated more with the specific needs that the product is aimed at satisfy and in some cases with brand recognition with which the vendor wants to be associated (e.g., prestige, practicability, money saving, expensiveness, planet environment conscience, power, &c.).

Now take some time read this carefully,Write down your ideas , Get ideas from those close to you! Make the decision , What kind of Online business are you going to start ? Do some browsing around other Internet businesses! BUT DO NOT SIGN UP FOR ANYTHING YET ! Remember as I said in part one ! The key to starting a successful Internet Business Online is ! Education, Dedication, Research & many long hours unless you are a computer guru or have really deep pockets. There are many opportunities out there that are free or of little cost to help you get started . So slow your roll! Do your research . Don’t make the same mistakes I have in the past . Remember our goal is a Successful Online Business ! Anyone can start a Internet Business. But our goal is success! In other words lets not try to sell ice cubes to Eskimos! I want to thank you for visiting The Fortune Saver . I hope I have been helpful so far , Please remember to leave your comments & share us with friends & others. I know this may seem like a slow start to you ! But I am doing that on purpose ! Remember the race between the tortoise and the hare ? THE TORTOISE WON! Part (3) will be coming up shortly so don’t forget to subscribe to our website Pretty soon you will have plenty to do ! Don’t worry about that ! Make the right decisions and you will have Online Business Success ! Thanks , David @ The Fortune Saver!

Starting Your Internet Business Online

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Starting Your Internet Business Online This is not meant to convince you to start your own internet business! That is the decision You have to make! We are not trying to talk you into it, I want to help you to avoid making the same mistakes others & myself have made in the past. Our goal is to give you the REAL information you will need To achieve Online Business Success .I am not trying to tell you to do it the way I did. I fact I am doing the exact opposite ! I don’t want you to start the way I did! This is to help you be in the proper mindset to make the correct decisions!   The information in this section has come from , Hard Learned Experience & Many Hours Of Research on our part to be sure you get the real picture. Anyone with a home computer can start a successful internet business for very little money! Your Online success fully depends on you making the correct decisions at the right time in your business building process. There are many excellent choices out there! Cheap Domains, Low Cost Hosting, Internet Malls & more. The list goes on and on.There are many successful online business opportunities available !   But that’s not the hard part ! We will get into what types of choices you have later on! The main objective is to make the right decision the first time, To keep yourself from falling for some scam or falling for one of those get rich Quick schemes that will never get you anywhere! They are professionals at what they do. They will tie you up until until your pockets are empty! Then hang you out to dry like yesterdays laundry. The key to avoiding these obstacles is having the right information. More and more people are turning to the internet for, Another source of income, A Career change, Fulfilling their dreams ! Early retirement, The big house on the hill, To live the life of leisure, Supplement their regular income. Whatever your reason may be everyone wants to sell on the internet. Every economic indicator, Independent report & Government statistic proves the fact that E Commerce is growing by leaps & bounds every year. This is a good thing for you and me! The enormous growth of E Commerce is partly because of small , home based internet businesses taking a big chunk out of the multi – billion E Commerce pie. There is money to be made & plenty to go around. HOW DO YOU START ? Can you start your own internet business even though you may not know how to get past the start button on your computer! Even if you are an experienced computer user most people don’t know what a merchant account is, or how to build a store front, what is the starting point? Where can you go to find out the first thing you have to do to start your own internet business? These are questions that have run thru all of our minds at one time or another. I say be very careful ! There are many companies out there that will offer to help you set up your online business. Even though some are legitimate there are many who are hoping you don’t know where to start ! They will prey on you ! They will tell you! You don’t have to know anything. They will tell you for some kind of minimal fee that all you need to know will be magically revealed. Your new business is going to appear like some kind of miracle and they will handle everything ,from your website to your bank accounts. Some will even supply you with your own products to sell. IT HAS BEEN MY OWN PERSONAL EXPERIENCE THAT ANYONE WHO OFFERS YOU A PACKAGE WITH A WEBSITE & PRODUCTS TO SELL SHOULD BE AVOIDED AT ALL COST ! This is (PART ONE) of a series of articles to be written on this subject ! I could keep going on about what not to do forever ! But at this point I think you get the picture.The key to Online business success is Education,Devotion & Research.  I Will get more involved as we move along in this series of articles I hope to build a long & successful relationship with you ! So stay tuned ! We have much to learn ! Bookmark us so you can come back! Don’t forget to subscribe to our site it is free. Feel free to leave comments, or suggestions. If you have your own, Online Business  ,Or are an expert on any of our subjects and would like to become a contributor please contact us ! Thanks for visiting, David @The Fortunesaver

SOCIAL MEDIA REVISITED

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SOCIAL MEDIA REVISITED

 

Business understanding of and expectations for social media are changing. Corporate Marketing Officers are increasing pressure on their marketers to demonstrate a positive ROI for social media investment. They have heard the rhetoric that social media is too different from other media options to be quantitatively measured. However, CMOs are no longer accepting that excuse (http://www.mutualmind.com/blog/2011/06/ceo-cmo-guide-social-media-roi/). There is mounting pressure in the Executive Suite to prove the value. As a consequence, you can expect that a flood of new measurement methodologies will be created in the private sector to address the challenge.

 

Here are several key learning’s being developed on how to deliver a positive ROI from social media. These learning’s should shape your strategies for use of social media.

 

EMERGING KEY LEARNING’S

 

  • Go where the people you want to connect with are already congregating. It is hard, expensive and time consuming to create a sustainable community. It is far more cost effective to participate in communities that exist already. For example, having an active blog is definitely important. Having a proactive approach to commenting on blogs the people you want to connect with already read gets you to a positive ROI faster.

 

GOOD PRESENTATIONS

 

Mark Schaefer – Schaefer Marketing Solutions

http://www.slideshare.net/Rialta/social-media-best-practices-for-economic-development

 

Derek Pillie – cirrus abs

http://www.slideshare.net/LEDOsuite/introduction-to-social-media-marketing-for-edos

 

Rick Burnes

http://www.slideshare.net/HubSpot/how-to-use-social-media-for-lead-generation?src=related_normal&rel=7926250

 

Measuring the Impact of Facebook

http://www.slideshare.net/tthompson/measuring-the-impact-of-facebook

 

Developing a Social Media Strategy

http://www.slideshare.net/jaybaer/developing-a-social-media-strategy-in-7-steps

 

GET STARTED MEASURING

 

Remember Jay Baer? Here is a Facebook valuation tool he created to help you better understand what the potential return you may be getting from your efforts.

 

Facebook Valuation Tool

http://www.slideshare.net/jaybaer/facebook-valuation-worksheet-convince-and-convert

 

MORE ADVICE

 

The author of this post, Ed Burghard, is a retired Procter & Gamble executive and Founder and CEO of the Strengthening Brand America Project (www.strengtheningbrandamerica.com). The Project is focused on providing economic development professionals insight into reapplication of product and corporate branding principles to market communities for capital investment. You can find more information on effective use of social media on the Strengthening Brand America website (www.strengtheningbrandamerica.com/blog/?cat=8)Again I would like to thank Ed Burghard for sharing his wisdom with us ! If this has been helpful to you please don’t forget to leave a comment, share with your friends & contacts, subscribe to fortunrsaver.com and receive new updates,  Monthly newsletter,or if you have information you think would be beneficial to others become a contributor @ fortunesaver.com