Thursday, January 20, 2005
More Bang for Your Buck: Starting an Online Business
Forget working nine-to-five. If you ever wanted to be your own boss, starting an online business is the way to go. In tonight's more bang for the buck, we'll show you how to stay open 24 hours a day - without paying overtime and without worrying about overhead.
WSVN -- E-bay and Amazon.com
They a just couple of booming businesses that have turned www into world wide wealth.
Kim Walker: "I think it's much easier and it's much more economical than an actual retail brick and mortar store."
In only three years, Kim Walker's line of trendy pet accessories known as "Mu*shu" has become a dot com diamond.
Kim: "I felt so strongly about what I wanted to do and it's kind of like the old saying do what you love and money will follow."
Like Kim, eager entrepreneurs can easily find success in cyberspace if you know tricks of the Internet trade.
Rieva Lesonsky From Enterpreneur Magazine: "It's not expensive anymore. You can get started on an online retial business for about $1200 dollars."
First, get to know your market and find a way to outsmart your competitors.
Rieva: "Don't let the fact that someone already exists in that space intimidate you.
You have to check out what their product is. What their price structure is and you have to see how you're going to put your own stamp on that."
Next, a few hundred dollars will buy you a domain name and give your web site life online.
Then make sure you use a have safe way buyers can make payments.
Using PayPal is always recommended. It's cheap and easy.
Rieva: "There's no set up fee and they charge a small fee for every transaction."
Now, once your business is up and running, marketing is crucial. Think about registering with several search engines plus team up with similar sites to post links for free.
Rieva: "You don't want to spend a ton a money at first because you want to make sure the product you're offering is solidly connecting with the people that your finding, it's good price. Once you find that you can search paying the engines for higher placement."
Kim found a great way to save her company money.
She taught herself how to build the web page and is now dressing pouches in posh styles around the world.
Kim: "I think it's good to learn how to do it yourself. To invest in the knowledge of doing that because I think it is going to save you money in the long run."
Okay, if you're ready to open shop, two hot retail Internet markets right now are baby products and functional clothing for the elderly.
FOR MORE INFORMATION:
Mu*Shu Fine Canine Accessories
3180 Stirling Road, Suite G
Hollywood Fl, 33020