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# | Post Title | Result Info | Date | User | Forum |
What is the best online business? | 11 Relevance | 2 years ago | CHIMA CHINARU | Online Business | |
Not every business is good to run on the internet. Some will cause you unnecessary stress, reduce your time, drain your energy, and provide little to no benefit in the end (despite your efforts). Traditional businesses should undoubtedly move into the online space, and any company that isn’t already doing so will likely miss out on great opportunities. However, starting a business online requires a completely different skill set, and acquiring the skills to work an online strategy (correctly) is another complex situation that needs a completely new set of skills to work. To the reader, I would recommend learning about the different methods by which someone can sell products online. After 8+ years working online, I would highly recommend an automated business that does not require your active presence. There is a huge difference between an Amazon Business where the owner packs & sends their own products, an Amazon Business where the owner works with FBA (Fulfillment by Amazon: this means Amazon stores & ships your products for you), and finally, a Merch by Amazon (MBA) business (100% automated, aside from designs & listings). Same business, 3 different strategies: 1st Strategy: Highly active. Consumes most of your time. But product sales are automated by Amazon’s Marketplace (you don’t need to contact anyone to make sales because customers are coming to Amazon). There is a lot of work involved here, it’s basically like creating a full-time job for yourself, except you have to pay for it. 2nd Strategy: Mostly active. Consumes quite a lot of time. But product sales + postage is automated. However, you’ll still need to be active in order to send your products to Amazon’s warehouses. This likely includes labeling, packing, shipping, etc (to get your products in the warehouse). By negotiating with suppliers on Alibaba, a portion of this can be easier, but the workload is still highly active. This strategy is still very similar to the 1st strategy, but automating the product distribution phase is advantageous. 3rd Strategy: Not active, mostly passive. It will take a lot of work to set up this type of business, but once sales start coming through, it’s completely automated. You don’t need to continue doing much unless you intend on growing the business by adding more content/listings. I haven’t touched my MBA business in almost 2 years, and it’s still generating revenue. Sales are automated (organic traffic from Amazon’s Marketplaces), creation of the products is automated, shipping, postage, fulfillment, and distribution are automated, and payouts are automated as well. Also, with the 3rd strategy, there are NO bills or liabilities. It’s a pure-profit business strategy, which means you don’t lose any money for setting it up. In my opinion, from an investor's perspective, the 3rd strategy is very intelligent. Also, if you generate a decent amount of income, I would highly recommend buying more businesses (using the 3rd strategy) with the profits. It’s much easier to buy a business than it is to build one. | |||||
How To Determine The Operational Risk Of Your Business | 6 Relevance | 2 years ago | tania1000 | Web Hosting | |
Broadly speak me, a enterprise's chance may be grouped into three vast categories: operational commercial enterprise risk, financial business hazard, and authorities business danger. This article will attention on operational business dangers, and a future article will look at financial and authorities commercial enterprise dangers. We can all agree that a few commercial enterprise ventures are inherently riskier than others. A product-orientated enterprise centered on a brand new product in an entire new class is much riskier than, as an example, a service-orientated cleansing business that operates in an established carrier class. Small commercial enterprise threat comes in many exceptional forms. You could be able to put together for a few which you can't. A PESTLE analysis allows a employer to recall macro-environmental conditions, at the same time as Porter's 5 forces allow a organisation to recollect micro-environmental forces which could alter a business enterprise's danger profile. With that said, it is constantly a good idea to study your publicity to threat now and again and make a plan to deal with whatever comes up earlier than you are forced to cope with them during a crisis. Operational enterprise chance definedOperational enterprise dangers are failures in daily operations which can impede a organization's ability to generate sales. Operational commercial enterprise risks are regularly the result of inadequate or failing strategies. Here are some examples of operational business risks: A clogged rest room on your restaurant requires the commercial enterprise to close down until it's miles repaired.Your internet website hosting employer is going offline for numerous hours, rendering access on your organisation's e-commerce web site unavailable, inflicting you to lose income.The flu epidemic hits your enterprise ensuing in excessive absenteeism and the enterprise missing a deadline.Operational enterprise threat can be broken down into six forms of threat. Strategic riskStrategic risk is the case in which a business has a hazard related to taking or changing the strategic direction of the <a href=" removed link " target="_blank" rel="noopener">B2C Email List enterprise. Strategic threat implies that the proprietor weighs the professionals and cons of a new direction for the enterprise. Here are 3 commonplace examples of strategic hazard. You have a a hit business in a part of city. You are thinking about beginning a 2d location across city to make bigger your enterprise. Will this new vicinity upload for your already a success business or cause you to fail?You have surpassed your contemporary bodily area necessities. You are considering signing a brand new rent on a much large space that could be a bit larger than your cutting-edge space requirements nowadays, however can be used for growth within the future. Will shifting to a far large space growth your operational capacity or will the rent growth motive more monetary chance?You spot a product that you suppose will promote properly to your keep. You agree to purchase the product in bulk, decreasing your value in keeping with product and supplying you with more margin. Will the product sell as fast as you expected or will you have to reduce it down sharply just to get some of your invested cash returned?Reputation hazardReputation hazard is while a employer's reputation is tarnished because of an incident perceived to be dishonest, disrespectful or incompetent. Reputation chance is commonly related to a severe lack of self belief on your enterprise. Here are 3 commonplace examples of reputation hazard. An worker has his laptop with sensitive customer statistics stolen.A purchaser has a bad enjoy together with your business. Rather than coping with the purchaser's trouble, the proprietor stands up for the corporation's moves and the patron leaves a terrible review approximately your commercial enterprise that is going viral. An employee is heard to mention terrible things approximately a purchaser. An employee of the customer corporation pulls out his phone and records the dialogue. A few days later, the enterprise and the owner were sued for libel.Quality chance Quality threat is wherein you fail to fulfill the first-class desires of your merchandise, offerings and / or commercial enterprise practices. You do no longer must be the manufacturer of the products or the person offering a carrier to be laid low with first-rate hazard.If you're selling a product that isn't pleasing clients; expectations of satisfactory, the consumer will preserve the retail commercial enterprise responsible for any injury or harm. In addition, your company may have recourse to a subcontractor whose part of the mission does now not meet customer expectancy. The customer will no longer maintain the subcontractor responsible, but as an alternative hold your employer accountable. Resource dangerResource hazard is in which a loss of sources, both human and monetary, can save you a enterprise from achieving its goals. For instance, your client says your video manufacturing company did a awesome job on a recent promotional video. Now they provide you to address all their video manufacturing wishes. Can you discover enough radiographers and video editors to guide this new work? Do you have got the financial resources available to purchase the brand new gadget had to guide the multiplied workload? | |||||
RE: How To Determine The Operational Risk Of Your Business | 5 Relevance | 6 months ago | Ethanbrody468 | Web Hosting | |
Assessing the operational risk of your business is crucial for identifying potential issues and minimizing disruptions. Here are some key points on how to determine operational risk: • Identify Key Processes and Activities • Potential Risks Identification • Risk Assessment • Mitigation Strategies • Business Continuity Plan • Insurance Coverage • Regular Testing and Drills • Key Performance Indicators (KPIs) • Compliance and Regulations • Monitoring and Review • Employee Training • Third-Party Vendors Note: Determining operational risk in business is not easy. It's a good idea to think about hiring brand management agencies i.e., Bizistech who could be able to make your business grow online among other top competitors if you have the mind to take your business online without facing major risks. | |||||
What is the first thing to do if you want to start building an online business? | 5 Relevance | 2 years ago | GeneralBoss | General Q&A | |
Please I need your contribution on this online business things. I want to start online business. So how do I start? | |||||
Why do some people think that they can start an online business without having a website? | 4 Relevance | 2 years ago | CHIMA CHINARU | Online Business | |
Because you can. They may have an online store hosted on someone else's platform. They may work by word-of-mouth so their network is all they need. They may use a social profile; with their skills, they can turn that profile into a lead-generating machine. Many new business owners think the internet is a save-all for business. What's going to happen when you don't have it? It's a tool with an expiration date just all of the previous technologies we've used in the past. Plenty of people are making money without a Google Profile. A website is okay, but it's not the end of the world. | |||||
With a capital of 200k, what profitable business can I start online? | 4 Relevance | 2 years ago | GeneralBoss | General Q&A | |
With a capital of 200k, what profitable business can I start online and how do I start? | |||||
What is the best way for a beginner to start an online business without investing money? | 4 Relevance | 2 years ago | GeneralBoss | General Q&A | |
What is the best way for a beginner to start an online business without investing money? | |||||
What kind of business can I do online without a capital yet it will pay me on daily or weekly, even monthly in 2022? | 4 Relevance | 2 years ago | GeneralBoss | General Q&A | |
What kind of business can I do online without a capital yet it will pay me on daily or weekly, even monthly in 2022 and beyond | |||||
RE: What is the first thing to do if you want to start building an online business? | 3 Relevance | 2 years ago | CHIMA CHINARU | General Q&A | |
Everyone with different types of opinions but one thing is to first know the niche you want to venture before doing anything | |||||
How To Win Big As A Beginner In 2021: Two Things You Must Focus On | 3 Relevance | 2 years ago | sabrinasabrin2 | Digital Marketing | |
If you awareness in your Mailing List and your Product, you will make more progress faster than a person who attempts to do many stuff on the same time. Done nicely, your mailing listing will deliver you heaps of certified traffic and your products will put cash in your bank account. First, let's observe your Mailing List. 1. Your Mailing ListYour Mailing List or truly List or Contacts or Audience or Subscribers is one in every of your maximum essential assets on-line. From your list you may get your first customers. You construct your INITIAL listing by attaining out to all of the humans , e.G., classmates, co-people, colleagues, buddies, ex-classmates ex-colleagues, buddies, pals of pals, buddies and complete strangers. Reach them via calls, textual content messages, emails, one-on-one, and social media such as Facebook, LinkedIn, and Twitter. The best manner to attain them as you are beginning out will be one-on-one at the department stores, Churches, Mosques, meetings and other events. Without looking to be too prescriptive <a href=" removed link " target="_blank" rel="noopener">Thailand WhatsApp Number List, simply begin with small communicate. Ask them how life is with them, what they may be doing now, and also percentage what you are doing your self. For complete strangers, you could destroy the ice through asking what they do for a dwelling. You can also ask approximately their other pursuits and whether or not they're site visitors or whether they stay across the region you met them. Keep the relationship and communication ongoing and warm to construct rapport. In the manner ask for his or her cellphone variety and/or e mail deal with and begin sending them applicable information primarily based on their regions of interest. You want between a hundred and 250 names for a start. According to Joe Girard, the author of How to Sell Anything to Anybody, every body on the earth is aware of at least 250 other people. As your list becomes bigger, you will want a Contact Management System (CMS), or CRM (Customer Relationship Management) System. A CMS will make dealing with your list simpler and can be necessary within the analysis of the performance of your customers in regions along with mail commencing, click on via, and Lifetime Value, to mention three. There are many CMS available, ranging from very state-of-the-art and high priced ones including Keap (formerly Infusion Soft), Click Funnels, Ontraport, Kajabi, and Drip to fairly less costly ones together with Vonza, Constant Contact, ConvertKit, and MailChimp, to mention a few. Each of the CMS have their benefits and drawbacks or pros and cons, but as a amateur, I'd endorse you go for MailChimp. MailChimp is unpretentious, clean to apply and chiefly, lets in you a FREE PLAN of up to 2000 subscribers. You want a loose plan when you've now not commenced getting cash. However, having said that, you don't even want a CMS at the start. All you want is Microsoft Excel Sheet to save your target market's touch statistics, the key of which is the email cope with.. To manage your listing and retain attaining out to greater capacity clients to develop your site visitors, you furthermore mght want your smart smartphone, WhatsApp and different Social Media money owed, specially Facebook. To establish your credibility and gravitas, construct sturdy relationships and rapport, let your contacts understand what you have executed. Have you for instance written a book or books? Brag and talk about them. That is in which your Products are available. Let's examine your Product next. 2. Your Product Your Product is also one of your most critical assets online. Your Product and Mailing List are the 2 aspects of the same coin: Your Online Business. Your Product can be in the form of a e book, an eBook, a Guide, a piece of writing, a Checklist, a Cheat-sheet, an App, a Code, or a Training Course. Courses are famous Online because they are easy to promote digitally in the form of PDF, MP4, and MP3 and at ridiculously high margins. People are usually searching out methods to improve their lives so Courses are available in very handy. As a novice all you want is a good Product within the form of a Course. Though a Course may be Basic, Intermediate or Advanced, as a amateur, you will move a Basic (Entry-Level) Course. An Entry-degree Course is some thing that is lower priced but solves a right away trouble to your target audience. You do not want anything complicated, sophisticated or academic. All you want is a Product (Course) that solves an instantaneous problem. For example, if I'm thirsty and you've got water to sell, I will gladly buy it to quench my thirst (a direct hassle). If as an example I even have an itch and you've a balm which could without delay reduce my pain, I'd gladly pay you. So link your Product for your audience's immediate hassle no longer a future hassle and you will not simplest win, however win huge in 2021. Online marketing experts talk approximately funnels. Your Entry-Level Product can be one of the pinnacle funnel's prized assets. Though the real mechanic of making a Product inclusive of a Course, is past the scope of this newsletter, there are basic things you need to realize at this factor. To prevail together with your Product (Course), ask your Audience what they may be struggling with to find out their pain points. Then ask them similarly, think I expand a product that solves your hassle, might you buy or be willing to pay for it? If three - 10 of your Audience Members say "Yes", and better still are willing to pay you in advance, then you're domestic and dry. In short, if someone to your target market is willing to pre-pay for your but undeveloped Product, it method your Product's concept is ideal. The technique of trying to find out if your target market is inclined to pay on your Product earlier is referred to as concept validation. Once your Product idea has been tested, pass beforehand and create the Product. That is all you need to do as a amateur. Let me repeat, you're on a firm ground when your audience individuals are willing to pre-pay in your Product. Another manner of making a Product is to go beforehand and create one based on your gut feeling and begin promoting with out regarding your target market at the start. | |||||
What are the best digital marketing strategies? | 3 Relevance | 2 years ago | CHIMA CHINARU | Online Business | |
Google My Business: One of the most important things you can do for your business is rank your Google My Business (GMB) listing, especially if you are trying to target local clients for your local business. Google My Business consolidates all your different Google platforms into one central place, including your Google Maps profile, your Google Currents profile, your Google reviews, and access to data on Google Insights and Google Analytics. | |||||
What are the primary products or services offered on a website? | 2 Relevance | 1 year ago | Chymo27 | Cold Emails | |
What are the primary products or services offered on a website?The primary products or services offered on a website can vary greatly depending on the nature and focus of the business. Some common examples include:E-commerce: Products such as clothing, electronics, beauty products, and home goods are commonly sold online through e-commerce websites. Digital products: This can include things like software, e-books, online courses, and digital music or video content. Physical products: Some businesses sell physical products through their website, including things like jewelry, toys, and collectibles. Services: Many businesses offer services through their websites, such as web design, marketing, consulting, and professional services. Information: Some websites serve primarily as sources of information, offering resources and articles on topics such as health, finance, technology, and education. Entertainment: Websites that offer games, videos, music, and other forms of entertainment are also common. Subscription-based services: These can include things like monthly box deliveries, access to exclusive content, or membership-based services.These are just a few examples of the many different types of products and services that can be offered on a website. The specific offerings of a website will depend on the goals and target audience of the business. | |||||
Most profitable business in Nigeria with low capital | 2 Relevance | 2 years ago | GeneralBoss | SAAS | |
What are the most profitable business in Nigeria with low capital in 2022? | |||||
Which business can I start with 200k in Nigeria | 2 Relevance | 2 years ago | GeneralBoss | General Q&A | |
Which business can I start with 200k in Nigeria in 2022 | |||||
Is it possible to start a business with little to no money? How? | 2 Relevance | 2 years ago | GeneralBoss | General Q&A | |
Is it possible to start a business with little to no money? How? |
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