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The Internet Business Model For Passionate Entrepreneurs
The Internet has been around for a while now. Having gone through the dot com bubble, web 2.0, social media till today, the Internet has all but evolved. However, it still remains a mass enabler. It reduces entry costs and the running costs of your business. It allows any business owner small or big to harness the power of a global economy. If you have not harnessed the power of the internet, or perhaps you have but not in a big way, this article talks about the different ways to integrate an internet business model for your company. Being an entrepreneur spreading your passion with your business, the internet allows your dreams to come true and turn your passion your profits.
The Internet is becoming the town square for the global village of tomorrow. Bill Gates
As an entrepreneur, whether you sell fertilizer or professional consultations, a strong integrated web presence which ties in smoothly with what you do offline is key to establishing your global presence. Without transportation, national and geographic boundaries, having a working internet model for your business reduces the cost of operating your business with much potential return. The internet business model also allows you to spend less money on your business overheads by instead purchasing the same thing online. Some aspects of your internet business model which you will need to orchestrate into a model are:
- Website & blog – the most basic presence online, any business now will need a website presence not only to be found but to establish credibility. Having a blog with regular updates and contents gives the company a channel to communicate directly and informally with their stakeholders and gives them an aura of approachability.
- Social media – Social networks such as Facebook, Twitter, and upcoming ones such as Pinterest create a personable and approachable identity for your business. With them you can establish presence, create a community, engage the community, communicate messages and feel the sentiment of the market. Your social media pages smoothly connect your brand, website and offline presence. Companies regularly use social media to run promotions as well to generate increased volume of business to their consumers.
- Information products – Information products are the new paperback books of the century. Products like e-books, videos and podcasts have taken the world by storm, driven by the consumer adoption of mobile technology, consuming information and products on the go with their mobile phones, tablets and other devices. For the entrepreneur, the majority of the costs are upfront as there are no costs of physically creating, handling or delivering the product. You only need to maintain your website and e-commerce engine.
- Video – The use of online video is all about communicating a message. Rich content attracts subscribers, customers and delivers your message compellingly. American teenagers alone spend more than 10 hours a day with rich media, whether on television, their smartphones or on their computers. If your target audience spends half their waking day viewing videos, would you agree that it is a good idea to engage them with your own?
- Outsourcing and automation – The operational cost of running a physical business can also be vastly reduced using outsourcing and automation strategies online. Virtual offices, virtual assistants, cloud computing for your company and not investing in expensive servers and associated hardware. The internet also leverages on the global workforce, providing you cheap labour who are willing to work on your business for much less than you would pay for a worker sitting in your office. This phenomena has created a whole new profession of online professionals and freelancers who are skilled, inexpensive and available to work on your projects for a low price.
- Internet marketing – Marketing on the internet has become a lot more sophisticated than merely placing a rectangular image banner on a website. Various channels such as search engine marketing, pay per click marketing, list marketing using your website, web joint ventures and affiliate marketing, exist to help you reach your customers in a targeted and efficient way. Many internet marketers make a bulk of their income through providing great value and offers directly to their subscribers with e-mail or mobile marketing, and as an entrepreneur with a small business you can generate strong traffic and volume for your company with the right mix of internet marketing and messages you communicate.
- Online media relations – Gone are the days where you set up a company in your town and you hope to one day be covered on the city or state morning show. With the internet, you have access to hundreds of media owners and also public relations service providers which send out your press releases to these newspapers, magazines, websites and other media channels.
Your internet business model is your ticket to real world business success as a passionate entrepreneur in this new age. Utilize the various elements listed previously to build a successful, profitable business which you can just about totally automate, and therefore spend more of your valuable time developing your passion and sharing your message with the world.
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