BUSINESS ONLINE ADVANTAGES AND DISADVANTAGES

Increasingly, more people own or are growing their businesses online with varying degrees of success. It is important for internet entrepreneurs to be aware of the advantages and disadvantages of doing business online as this knowledge will empower them to make the right decisions and implement the correct strategies if they do go ahead and start a business on the internet. Below are the main advantages and disadvantages of running an online business.

Advantages

Start-up costs are relatively cheaper than bricks and mortar businesses. Some business-in-a-box programs cost as little as $400, some even cheaper. If you are setting up your own website with your business plan you may only need to pay for a domain name and web hosting which would cost you less than $100. Even for the most expensive opportunities, they are still way cheaper than other businesses. The top scale start up costs for internet business could be $20k, which might seem expensive but when compared with businesses like the MacDonald’s franchise which cost over a quarter of a million dollars, then it puts things into better perspective.

Operational costs and administrative expenses are also relatively lower than other businesses with little or no staff required. Many internet entrepreneurs work from home which means that expenses like lighting and heating and office expenses which would normally be incurred in an office block, are saved.

Running a business online gives great flexibility. This is because the business can be run from anywhere. An entrepreneur could be on the beach on holiday with her family and still be running her business normally. This flexibility helps the entrepreneur does as she pleases with her time. She may decide to work between 12 midnight and 6 am if that is her most productive hours.

Online businesses can reap the rewards of free and cheap advertising, through videos, article marketing and social marketing. Even with more expensive advertising options like pay per click, due to the number of Internet users, to potential to grow your business is very high especially if you can effectively drive traffic to your website.

Disadvantages

Competition is high as increasingly people are becoming switched on to the advantages of running an online business and also more technology savvy and are growing their businesses. The number of people starting a business online is increasing at high levels and they are all competing for traffic which makes it harder to break through.

The Internet is a very dynamic marketplace. Consumer tastes vary widely and change frequently. Therefore, by focusing on one business idea or income stream, the entrepreneur risks being left behind by new products and services as consumers chase the next best product or service.

Even when the entrepreneur has a winning business model, competitors can easily copy it and therefore impact negatively on profits.

Getting to grips with technology to sustain competitive advantage can be a limiting factor especially if the entrepreneur depends on himself and hires no staff. This disadvantage can be overcome by either outsourcing or employing staff full time or on contract basis.

It may take time for the business to get off the ground as the entrepreneur builds his online presence and if the business is not run properly cash flow problems may hinder the success of the business. It is important that the marketing and other costs are very carefully budgeted for over a period to take into account the possibility that profits may take a while to materialise.

Running an online business is empowering and can be profitable. A lot of these businesses fail because entrepreneurs are not mindful of the advantages and disadvantages and have not planned accordingly. While it is relatively easier and cheaper to start and grow an online business than a traditional bricks and mortar business, that advantage can also be an advantage as competitors enjoy the same benefits.

4 THINGS TO REMEMBER WHEN WRITING A KEYWORD RICH ONLINE PRESS RELEASE

One of the great things about online press releases is they can be accessible to new readers over long periods of time. This is great because this can lead to a good flow of traffic to your website or blog who could be converted to paying customers or team members. It is therefore important to write keyword rich press releases which increase the chances of them being found by your target audience.

Below are four important things to remember when writing your online press release.

1. Your press release should be announcing a specific event. It is not a ‘how to’ announcement – you could do articles for these. Press releases are ideal to announce the launch of a new book, product, website or blog. An example of a press release is ‘John Smith launches Advertising Enterprises’.

2. Your press release must be brief and to the point. More importantly, ensure it contains one primary keyword which must be including in both the title and the body of the release. Ensure that you don’t overdo including the keywords in the body as it comes across as tacky and unprofessional – 3 or 4 times is fine. The keyword could be your name, the name of your business or one that relates to the industry you are operating in. Do keyword research and choose the one that has the highest number of searches.

3. Try to use quotes in your press releases, preferably 2 or 3 per release. The quotes should be from the person you are interviewing. If the release is about your business, provide quotes from yourself as if you were being interviewed by someone else. For example, if you are John Doe, one of the quotes could be: John Doe was quoted as saying “I am delighted to announce the launch of my new business…”

4. Once you have completed your press release you need to find distribution sites and distribute the press release to as many as possible. Some good sites are Free-Press-Release, Webwire and 24-7 Press Release. Some of these are free distribution sites.

A press release is a very effective way to drive traffic to your site. It is important however, that you understand that for the full benefits to be gained they must be keyword rich but at the same time not littered with keywords. It should be written as though by someone else if you are promoting your business and to maximise exposure, you must distribute to as many sites as possible.

INTERNET MARKETING ENTREPRENEUR ANNOUNCES VIDEO RELEASES

Carbon Copy PRO entrepreneur, Festus Sowah today announced plans to release a series of training videos over the next 12 months aimed at inspiring and motivating prospects, who are still undecided about starting their Carbon Copy PRO business.

Mr Sowah, who recently joined the internet marketing company that is the talk of the industry, said in a statement, “I am committed to helping as many people as possible achieve their life goals by providing them with tips, advice and information on internet marketing and self development”.

The internet marketer has published close to 100 articles on online marketing and self development and sees diversification into video production as a logical next step. He said “My plan is to reach people with different learning styles. The articles appeal to those who have a visual learning style, while the videos will reach those who respond to sight, sound and feelings”.

Unveiling his plans, Mr Sowah said “From August 1 2009, I will release one video a month on various aspects of leadership, motivation, entrepreneurial lifestyle, developing the right mindset and overcoming obstacles. The videos will teach budding entrepreneurs that success or failure in the industry depends on no one but themselves. I will teach them how to take action and do whatever it takes to succeed.

Festus Sowah is a member of Carbon Copy PRO based in New York. For more information, click here