Welcome back...
Michael Kay
Research Director HBB Research
Setting up Your Web Business
If you want to get into business making money on the web you have to decide if you want to build your own business from scratch or buy into a pre-packed opportunity? In the offline world this is like setting up your own burger joint or taking a McDonald’s franchise.
Going DIY (Do-it-Yourself)
If you want to create your own business you're going to have to deal with all the disciplines of web business. These are:
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Designing your business: even if you throw the business together it still has a design. Careful design can guarantee success just as unthinking design can guarantee failure
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Positioning your business: an extension of the problem of design, positioning a business means marking it out from the competition and attracting customers to spend
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Stocking the shelves: what you sell and how you source it is a fundamental skill in any business, even the web
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Web design: acres of screen space have been devoted to this topic, a measure of its importance
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Generating traffic: separates the successful from the also-rans. Generating traffic is the most profoundly difficult activity on the web. Solved – you are wealthy
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Converting your traffic: so you got them to the door, now get them to buy!
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Exploiting the customer base: your email list is your most valuable asset. Properly managed it will feed you for life!
The above represent The Seven Disciplines of Web Business. If you are going to open your own business and do it from scratch, these are the Disciplines you wil have to master. If you decide to open a pre-packaged opportunity several of the Disciplines will have been initially dealt with for you. Typically the one that you have to deal with is Generating Traffic - by far the most difficult discipline.
If you are at the decision point, try these questions:
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Do you have the time and persistence to deal with the long learning curve on all the Seven Disciplines or am you looking for some form of ínstant'success. If you feel under pressure to get there quickly, then DIY is not for you. There is nothing wrong with this. People come to web business typically under financial pressure and looking for a quick resolution to their difficulties. Getting going with a pre-packaged solution may well work, and if it doesn't then you will have learned a lot
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Do you have something to say? Or a product to hawk? If you do, then DIY may be your solution. It may take you longer, but the intensity of the satisfaction will be greater and the financial potential is much higher
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Are you technologically challenged? DIY for your first venture may not be the solution, technology is an inescapable part of web business
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Are you a serious player, or is this a passing fancy? Be brutal. If you have a steady job, little entrepreneurial background and no burning need to do anything, then chances are you won't succeed at an entrepreneurial venture on or off line. Being an entrepreneur requires either deep drive, something to say or prove, or a complete inability to stand conventional employment. Not everyone has that drive. No reason they should. But if you don't and you're still interested then you are a hobbyist; have fun, the web isn't only about becoming rich.
Setting up a web business, is a low cost affair compared with offline operations. The true cost isn't in money, it is in time. Mastering the Seven Disciplines of Web Business takes time. But if you are successful, you have a skill set that will feed you for your entire life! Now there's a reason to DIY; insurance in our uncertain world!
Michael Kay
Thoughts to Chew on...
Getting started on the web is confusing. There are endless people pushing their wares and the whole thing requires far more technical skill than most people think. But it does hold the key to deep satisfaction. Here are some other thoughts you might consider:
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The hunt for the golden egg can consume you. You move from one pre-packed solution to the next in a never-ending chase. This will erode your confidence, your wallet, your time, and the patience of your loved ones.
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DIY is where the real money is. If you want to open such a business be prepared for a significant learning curve. Which means you have to start with a learning attitude
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The Seven Disciplines of Web Business represent a process for getting into business and a model for success. Follow them through and your chances of success rise. But if you have to focus anywhere focus on traffic generation.
HBB Research's latest report is explores each of the Seven Disciplines in depth.
If you want to find out more, you should get hold of The Gold Rush: Realizing your Dreams in the Coming Web Home-based Business Bonanza. This 260+page book will give you a deep understanding of what it takes to be successful. If you want to find out more about The Gold Rush: Realizing your Dreams in the Coming Web Home-based Business Bonanza click on the text below.
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Take me to The Gold Rush.
Warning!
If you arrived at this site through a search engine, you need to know where you are. You have landed on a subscriber page for HBB Research's Insights Letter or of the HBB Review.
HBB Research is one of the first research programs into web home business linked to a business school.
The Insights Letter and the HBB Review are FREE newsletters that provide ideas and insights to mostly new web entrepreneurs
Subscribe to "The Insights Letter" Now!!
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Copyright Michael Kay HBB Research 2006 |
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The Gold Rush...To Invest in Your Future
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An Final Invitation...
Participate in HBB Research's Research Program.
This is your last chance to find out about the personality traits and behaviors it takes to be successful in web home based business and if you have them?
Click on the link below and fill in the Personality Questionnaire. Then get the results from those who have responded so far Plus the FREE and unique Your Web Home Business Personality Report: Building Success from The Inside
This Report in its final form will sell for $25. You can get it FREE.
Go to the Personality Questionnaire |
Latest Headline Articles On Web Business From SubmitYourArticle.
These automated feeds are valuable tools for building web site content automatically
For more information go to SubmitYourArticle
See the SubmitYourArticle "Editor's Pick" of the best article submitted this week.
Editor's Pick
Read the articles captured in our continually updated articles section. These Guest Articles are from some of the best minds writing on the web today
Guest Articles
Marketplace Note:
Sources on Continuing Education...
As one of our regular features we recommend a source of information - that is essentially free.
This letter's recommendation is focused on eBay. Janiece Smith’s eBay Profit Pill Newsletter gives an excellent series of tips on how to make money on eBay.
eBay has evolved from a simple auction idea for getting rid of stuff up in the attic or in the garage to a place where over half a million people make a full time living. And the marvellous thing is - it is totally open. You don't need any incedible skill to set up a web site, nor do you have to worry about traffic creation. eBay is pure trading. Your insights on the value of something versus the world's view. The trick is ancient: buy low, sell high! Now`having said that, eBay for the pro is much more including the reliable sourcing of products and their guaranteed delivery. There are real tips and tricks for success in this space.
Janeice Smith is a pro. You can tell that from her newsletter and her fllow-up systems. WELL worth a visit
To subscribe go to her sales page and sign up
eBay Profit Pill Newsletter
Summary of the Sources of Knowledge mentioned so far:
Storefronts: we recommended you go and look at the materials provided by the two leading Clickbank offerings CBMall and 1st Pro Storefront. Both have excellent materials.
SEO search engine optimization by Brad Callen. Perhaps the leading thinker and practioner on the web
XSite Pro a report on how to find products that sell. This report is credited to Paul Smithson. Note SiteBuildIt also has tons of information on driving your business
Revenge of the Mininets a brilliant concept for driving search engine position by tying mini-sites together. The author is Michael Campbell
eBay Profit Pill Newsletter a solid newsletter stuffed with interesting facts about making money on eBay
Search Clickbank:
Last Link to HBB Review...
Your first copy of HBB Review is still available. To access it click the link below:
HBB Review: The Zen of Traffic
The first article in HBB Review is focused on the critical issue of TRAFFIC.
Table of Contents
Coming up...
In the next issue of Insights Letter, you'll get access to the second HBB Review article on the fascinating subject of Scams and Passion.
Under Construction
HBB Research's Web Home-business eBook Store is currently under construction. It will focus on books, tools and Specal Reports for the web home entrepreneur.
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And Finally...
At HBB Research we believe in the value of feedback. Each Letter we will ask you for your thoughts on what you are looking for..Here's the question for this issue
"What would you like HBB Research to investigate and write about?"
Send your thoughts to
insights@hbbresearch.com
Thanks in advance for your ideas, they are much appreciated.
Prior Letters
Letter#1: The Web Business Boom includes Personality Questionnaire and FREE Report. Learn about yourself and your chances of success
Letter#2: The Long Tail Economics includes Personality Questionnaire and FREE Report. Learn about yourself and your chances of success
Letter#3: Seven Sources of Web Wealth includes Personality Questionnaire and FREE Report. Learn about yourself and your chances of success
Letter#4: Seven Keys to Web Business Success includes Personality Questionnaire and FREE Report. Learn about yourself and your chances of success |
