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Other Consulting Articles
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What is Contract Programming? An Alternative to the Conformity of Everyday Employment
What is contract programming, you ask? Well, when companies need specific computer programming expertise, for temporary periods of time, they generally hire a contract programmer or an employee of a consulting
Less Stress and More Success
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Recent Consulting News
MAS Consulting Announces... Microsoft Better Together Seminar Series for 2009 (Centre Daily Times)
Microsoft Gold Certified Partner, MAS Consulting is proud to announce that it will be hosting the 2009 Microsoft Dynamics Better Together Seminar Series. MAS Consulting will host a series of informational presentations and interactive seminars, offering exciting opportunities for local businesses to learn the latest Microsoft solutions and how their powerful integration capabilities can be ...
Huron Consulting Group Expands Middle East Footprint with ... - WELT ONLINE
table border=0 width= valign=top cellpadding=2 cellspacing=7trtd valign=top class=jfont style=font-size:85%;font-family:arial,sans-serifbrdiv style=padding-top:0.8em;img alt= height=1 width=1/divdiv class=lha href=http://news.google.com/news/url?sa=Tct=us/8-0fd=Rurl=http://newsticker.welt.de/%3Fmodule%3Dsmarthouse%26id%3D829043cid=1287483132ei=HC9kSeKGG6SwQ56w3MUDusg=AFQjCNErJmOnU9rriXSGeUaTDj-hKes_mQHuron bConsulting/b Group Expands Middle East Footprint with b.../b/abrfont size=-1font color=#6f6f6fWELT ONLINE,nbsp;Germanynbsp;-/font nobr15 hours ago/nobr/fontbrfont size=-1Huron bConsulting/b Group Inc. (NASDAQ: HURN), a leading provider of financial and operational bconsulting/b services, today announced it has acquired Nextmove, b.../b/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-1fd=Rurl=http://www.streetinsider.com/Downgrades/Deutsche%2BBank%2BDowngrades%2BHuron%2BConsulting%2BGroup%2B(HURN)%2Bto%2BHold/4277598.htmlcid=1287483132ei=HC9kSeKGG6SwQ56w3MUDusg=AFQjCNGKtnmdrcti3DFEDSpKNshN-JK7ewDeutsche Bank Downgrades Huron bConsulting/b Group (HURN) to Hold/a font size=-1 color=#6f6f6fnobrStreetInsider.com (subscription)/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-2fd=Rurl=http://www.zacks.com/commentary/9654/Huron%2BConsulting,%2BInc.cid=1287483132ei=HC9kSeKGG6SwQ56w3MUDusg=AFQjCNHeM8f-9vnZCQC5r6dUpR6C5bnzLAHuron bConsulting/b, Inc. (HURN)/a font size=-1 color=#6f6f6fnobrZacks.com/nobr/font/fontbrfont size=-1a href=http://news.google.com/news/url?sa=Tct=us/8-3fd=Rurl=http://www.chicagotribune.com/business/chi-biz-huron-consulting-acquisition-jan06,0,1346855.storycid=1287483132ei=HC9kSeKGG6SwQ56w3MUDusg=AFQjCNHuKgVYFSmA9OVEPLY_3Ah7gyzPmwHuron acquires small Saudi firm/a font size=-1 color=#6f6f6fnobrChicago Tribune/nobr/font/fontbrfont size=-1 class=pa href=http://news.google.com/news/url?sa=Tct=us/8-4fd=Rurl=http://www.msnbc.msn.com/id/28519622/cid=1287483132ei=HC9kSeKGG6SwQ56w3MUDusg=AFQjCNEjLc8erXpkFCDcgjXJfj961nyuzQnobrMSNBC/nobr/anbsp;- a href=http://news.google.com/news/url?sa=Tct=us/8-5fd=Rurl=http://www.uaedailynews.com/business/1249.htmlcid=1287483132ei=HC9kSeKGG6SwQ56w3MUDusg=AFQjCNGPitrra3lkpnOB7bej_2wvlFw29gnobrUAE Daily News/nobr/a/fontbr/font class=p size=-1a class=p href=http://news.google.com/news?hl=enned=usie=ISO-8859-1ncl=1287483132nobrall 13 news articles/nobr/a/font/div/font/td/tr/table
Mass. PRIM Seeks Funds Of Hedge Funds Consultant - FINalternatives
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Guide to Internet Business - Concept and Opportunities
When deciding what kind of internet business you want to do, there are a few factors you need to look at before plunging into building your website.
a) TYPE OF BUSINESS
The first thing you need to consider is exactly what kind of business you want to build. There are generally two types of internet businesses out there: a full-fledged online store selling a product or service, or an informational website earning income from affiliate commissions and advertisements.
i) You might want to consider setting up an online store if you fall under one of the following categories:
- You have a product that you are already selling offline, and want to use the internet to increase your market.
- You provide a service (such as consulting or web design) and want to use the internet to sell your services and increase your clientele.
- You do not have a product or service, but want to start an online store by partnering with a product manufacturer or wholesaler.
ii) On the other hand, you might want to set up an informational website and earn from affiliate commissions and advertisements. This is possible if you fall under one of the following:
- You want to create a website about something that you really like or are interested in.
- You want to promote an affiliate program or product that you like and want to tell the world about.
- You want to provide information or compile advice from various sources regarding something that you are good at.
b) INTEREST
Another very important factor is your interest in the topic or industry in which you want to do your internet business. It is not advisable to start an internet business relating to a lucrative industry such as online casinos, but you have no interest whatsoever in casinos, and worse if you have moral issues with the running of casinos.
I just want you to be aware of some of the common pitfalls you might encounter if you get involved in something that you are not quite interested in:
- If you have not much interest in a topic or industry, it will show in the content and quality of your website. It takes someone with considerable interest to perform good research on the topic, and to create a website full of relevant and personal information and content.
- Without continued interest, you will slowly start to find excuses not to work on your website. And internet business is a continuous love affair. It requires constant updates and internet marketing effort to enjoy good success. If you've lost interest and start to ignore the business, your profits will also start to decline.
In short, internet business (like any other business) requires genuine effort and interest in order to succeed. And it is a lifelong love affair, not a one night stand!
c) INCOME OPPORTUNITY
However, interest isn't everything. The income potential is important too. After all, it's no use laboring over something you love with no profits to show for it. But the good thing is that internet businesses are so cheap to start that it doesn't take much to make a profit!
i) If you want to setup an online store, don't just look at how big the market is. You also have to look at how much competition you face in your chosen industry. For example, an online bookstore will have a huge market (almost everyone reads), but there are plenty of competitors out there such as Amazon.com with a bigger wallet and are more established. In cases like these, you will have to consider allocating a larger budget for advertising and attracting customers.
On the other hand, if you want to start a online store selling waterproof cameras for diving, the market might not be all that big (probably just diving enthusiasts), but because there are few competitors, it will be easier for your store to stand out. As they say: "It might not be a big pie, but you'll get the lion's share of it".
ii) If you want to create an informational website, you have to keep your competition in mind as well. In addition, you need to make sure that your selected topic has sufficient income potential such as affiliate programs and advertisements.
These affiliate programs and advertisements should be related to your website. For example, a wedding planning website can promote affiliate programs related to photography and event management, but should not promote an escort service! In addition, every website can earn some extra cash by placing advertisements (not too many) on their webpages. A good ad service is Google's AdSense program.
d) Commitment
The last factor I want to touch on is commitment to your internet business. There are two types of commitment you should be aware of: money and time.
By its very nature, internet businesses require very little money to start. However, profits don't come immediately. Websites take time, sometimes as much as 6 months, to start ranking in the search engines and getting traffic. You therefore have to plan for that much time of operational losses (including your hosting costs). If you are in a highly competitive industry, you will also have to factor in your monthly advertising budget.
However, the most important commitment you have to make is your time. As they say: "If you treat it like a business, it will pay you like a business; If you treat it like a hobby, it will pay you like a hobby."
You need to know how much time you can allocate to the business. A simple informational website can be setup gradually on just one hour a day. However, setting up an online store will require almost full-time effort in the beginning. Once your store is done, then your time commitment will drop.
When you've decided what kind of internet business you are interested in, and how much resources to put into it, you can then look at the second step, researching the design and content of your website. You can check out the entire Step-By-Step Guide at http://www.onlinebiz-help.com/step_by_step.html
About the Author
Steven is the webmaster of http://www.onlinebiz-help.com His website contains various resources on affiliate programs and internet marketing advice to help you succeed in your internet business, including a Step-By-Step Guide to get you started.
Did you learn something new? Are you ready to try and master a new business consulting marketing services skill? If you have more questions, look around and ask. Probably one or more of our articles can help you.
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