Your Questions About Internet Business Models

Jere answers:

AP,

You did ask THE question that’s guaranteed to get a bunch of interesting advise.

There are a bunch of models for making money on the net. That being said, it’s not as easy as many people may tell you.

There is:

Affiliate marketing, (selling other peoples products)
Marketing your own product.
Drop shipping
Network Marketing
Information Marketing

Wheww… Ok that’s all I can do. The single most important thing to know is that your not going to be billionaire in a week! In other words, have realistic expectations.

I spent several thousand bucks on guru courses to learn those “super secret insider tricks”… I wouldn’t advise that method! The vast majority will give you just enough info to make you have to buy their next product…. Ya,, I did….

I finally joined a mentoring organization that actually got down to the nuts and bolts and “how to’s” before I got off the ground and started seeing some income.

I wish I’d done that first but,, live and learn… My advice to you is to join such an organization and do the… Earn while you learn thing…

I’m dropping you a link to the one I use.. It’s an ad page and it’s a bit lengthy so scroll down to the videos and you’ll get a pretty good idea of what to expect.

Hope this helps…

Micah

Jere answers:

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Jere answers:

It has to do with poor management of their reputation. Owners see a negative comment and react by attacking the person who left the comment. There is a much better way. When you are listed on Yelp and many sites and have a huge internet presence you are going to get comment good and bad. The worst thing to do about a bad comment is nothing. No matter what someone has said about your business you can always take the high road and come out looking sweet. A monitoring system can be put in place so that you will be notified when a comment has been posted. This is something as a business owner you should want to monitor.

Example ” I went to Joe’s Pizza and the waiter was wondering around clueless. When we finally got our pizza it was cold, may never go back.”

Answer “Since school has restarted we have lost of few of our veteran wait staff. Your satisfaction is very important to me so please give me a chance to earn back your business. Your next pizza is on me, thanks for bringing this to my attention, Joe”.

Jere answers:

The first thing you need to think about is what type of internet business you want. The website and the requirements for it are just secondary considerations, and the complexity will depend on the type of business you will run.

For example, an ecommerce site will require different elements compared to an information site monetized through advertisements. User generated content will also be different.

Think of the business model first.

Here are the steps you need to take when creating your online business:

STEP 1: Set Your Goals – Why do you want a web site? What is the size of the online market? What are the goals for your website?

STEP 2: Develop Your Web Site Strategy – Who is your website target audience? What typically appeals to your target audience? How are the other websites (your competition) reaching out to this target audience? How will you measure your performance?

STEP 3: Set-Up Implementation Plans – What name will you give to your site? How do you envision the design of your web site? How will you create your website? How will you create your content? How will you maintain your website?

STEP 4: Start the Ball Rolling – Do you have a logo? For e-retailers, do you have the critical components needed to run an e-commerce site? How are you going to host your site?

STEP 5: Create and Launch Your Web Site – Have you uploaded your site with your chosen web host provider? Are the scripts and application you need for your website functioning well? Have you tested your website?

STEP 6: Promote Your Web Site and Measure Its Results – Do you have a plan in place to market your website? Do you regularly review your traffic logs and web site performance tracker? How are you going to get sites to link to you? Do you know the search engine keywords that you rank well? If your site is not visible in the search engine results pages for its keywords, what strategies do you intend to do?

STEP 7: Maintain Your Website and Grow Your Web Business – Continue to find ways to grow your web business. How do you intend to continue your education on web development?

Jere answers:

There is a whole section on the schedule C for “Home Office” deductions that would cover this.

The short answer is yes you can but only up to the percentage that you use them for business. So if you use your cell phone or internet only about 10% on business you can deduct no more than 10%. You also have to be sure you have Excellent records as if you get audited this will be the first place they go to in the audit.

For example with your cell phone, you need to keep the entire year of bills with the breakdown of each call and if it was business or personal and then take the percentage.

For something like this you should consult a tax professional as they can give you the exact answer for your situation.