What makes an Internet Business or your blog profitable with the millions of websites and blogs around all doing the same things. You will find that in fact that many of these factors hold true for traditional marketing as well.They are very much common sense reasons but vital factors that many intelligent people fail to follow. These 5 leftovers should be in your mind and drilled in now.
Strong demand for your product and service
Did you just create a product and tried selling it online and did not make even a single sales? Was your tactics wrong or was the product you were selling not worth buying at all. Many a times people sell stuff online that people can easily find down the street and the shopping centres.
Instead you should look for an area that has a high demand for a particular product or service, you see when there is a huge problem that millions are looking for solutions and if your product gives that solutions, its bound to make you money cause the customers wants results.
Ideally No stock
Starting an Internet business that requires stock taking or a warehouse is going to need you to fork out cash. You may want to go into business where the product or service is delivered in digital form (like electronic book for example). In the internet business, the best is you don't have a physically product in hand but still selling and making profits.
Low Startup and Running Costs
Many Successful stories comes from the internet business and most of them required hundreds and thousands of dollars to setup but there is a group of super profitable business which you can setup with less than $1000 and you can have it run in your home, so when we have less money on home, it forces our human mind to think and be creative and more careful with what we spend, these are very important elements to running a successful business
Reaching out globally
Don't just make your product or services known to your own small town, but have it widely spreaded and talked about, ensure you have a product or service that the world users can make use of and selling to a large amount of close 900 million Internet surfers around the global does make you a huge profit, Make sure your product is made for everyone to try and buy, once you niche out a globally viral market, you are bound for huge profits.
Products with high fixed price
You must be wondering why set such a high price, will there be a purchase of your ebook? In the first place, why sell a cheap ebook to your customers, is the contents not worth reading or selling at a cheaper price will enable more customers? Make sure you command a fixed price for a ebook you think should be worthy of how much, If your ebook could really help the others, the price set should not be a factor to the buyer since he makes money out of the ebook he bought from you! Have confidence in your sales!
3 Responses to "The 5 Criteria for a profitable Online Business"
July 31, 2007 10:38 AM
I especially agree with the reaching out globally point. Many people lose money that they could have gained had they looked overseas.
March 22, 2009 2:41 PM
We feel that its a good opportuniy for people with a long term view to start investing in markets with a view of 3-5 years... Share Tips laso try to get some Nifty Tips
April 25, 2009 12:29 PM
I really believe in this business but now a days I am free because of my summer vacations that’s why I am thinking to set-up a trip for some relaxation and in this why today I am searching for the rates of the atlanta cheap flights and denver cheap flights. After that I will decide that where to go. Because still I will have to find the apartments rates.
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