Monthly Archives: October 2017

Best Internet Business

There are several Web Host giants on the internet that provide private label rebranding to small business owners. This might be the best opportunity to “piggyback” on well-established businesses if you are just starting out in internet marketing. This gateway for unlimited wealth is made possible due to the growing demand of digital marketing in regions that are outside the scope of these large corporations.

In order to gain a share of the market, these corporate web companies offer reseller plans to small businesses which take their products and services, rebrand them and sell to business owners at a profit. These products include domain name services, web hosting, online storage, business productivity software, and tools.

There is quite an advantage in being a small business retailer because one is able to customize their business at the local level and meet the demands of their growing market on the World Wide Web. Let’s look at the definition of digital marketing to understand why the demand has grown significantly over the past decades.

What Is Digital Marketing

Digital Marketing involves all functions that are geared toward promoting online business activities. This includes but is not restricted to products and services in subcategories such as Domain Name registration, web hosting, email marketing, web design and development, software applications, sales and marketing, social media marketing and consultation, and all medium through which businesses and individuals advertise and market their products online.

Retail Marketing

Retail Marketing refers to activities geared toward end users of a web-based business solution such as domain names registration, web design services, software apps for business and personal use, social media management, web hosting and other activities that promote online communication.

As the need for business solutions intensifies, business persons become increasingly concerned about meeting the demands of the online industry, and therefore the Pros and Cons of the internet business become relevant.

The Cons of Digital Marketing

One would think that the more customers you have, is the more profits you are likely to acquire but the truth be told, the more the business will become more challenged due to competitors, need for online bandwidth, web creativity, uniqueness, and need for customer service due to increase in customer queries and the need for technical support.

The Pros of Digital Marketing

Fortunately, some web hosting reseller business plan come with independent customer service team that manages concerns and queries of clients on their behalf. Another positive thing about being a domain reseller is the handling of payments and processing of sales. As a web hosting reseller, you are given the opportunity to re-price your products to earn commissions from your own business.

Another pro for being a reseller is the fact that starting your digital marketing business does not require an exorbitant startup cost nor high overhead expenses to operate effectively, nor initial products, compared to other online ventures. Products are sold through the distributors but your private label is displayed discreetly in the sales operation and therefore your business receives the credit!

How Do I Become A Web Hosting Reseller?

There are two ways to become a Web Hosting Reseller and Domain Name Registrar. One can sign up as an affiliate or an actual reseller.

  • An affiliate gets a commission from advertising online products that the Web company (suppliers) market, using links and codes on approved websites.
  • Reseller uses their own brand to market the Web Company’s products (supplier) and services at a higher rate of returns. End users see the reseller’s products and services as their company’s brand and not the Web Company’s image.

Affiliates display the name of the wholesaler or provider (Web Company) through banner advertisements and other forms of internet marketing, similar to a franchising arrangement.

How Much Does It Cost To Run A Web Hosting and Domain Name Business?

It is very alarming to find out the actual cost of starting your own internet business. The subscription for a reseller license varies from $89-$499 annually and it depends on the provider or web company. Most persons prefer to do business with Web companies that offer a variety of affordable products and services. Once a business plan is purchased, one can start selling immediately online.

Some Web companies provide a retail storefront with the domain name search field. Other features include the following:

  • Dedicated customer service team support for your clients
  • Marketing software to assist in promoting their brand online. Resellers are expected to purchase their domain name to start promoting their retail internet business.

Start Up Cost

There is no mandatory startup cost for a Web Hosting Business, however, it is suggested to start with at least $300-$500. This would include the cost of the subscription plan, a domain name for your business idea, a web designer to customize the storefront (optional), business cards and other marketing paraphernalia to help provide greater access to your target market.

There is reseller’s support, community pages, manuals and online support to help you succeed in making your business profitable.

The process of starting an internet business is simple, and while there could be challenges in securing a viable market in your region, there are no geographical restrictions. Savvy business operators stand a greater chance to earn real attractive residual income annually, in a relatively short time.

What To Expect as a Web Hosting Reseller

Business owners are able to tap into the tremendous wealth of the digital marketing business industry as it is one that never sleeps! It has often been said that you can earn money while you sleep, and since the internet generates over a billion dollars per day, more and more persons have experienced this reality. Currently, there are Web Hosting Resellers who are making $10-30K (USD) per month.

Once you are patient, open to exploring online business opportunities, and enthusiastic about providing internet business solutions for individuals and companies, then you are ready to build your digital empire.

After reading this article, if you are asked: “what is the best internet business?” I am quite sure that you are in a better position to give a logical answer. However, you must realize that no matter how skilled one is, or how many customers he or she has garnered to do business with, real success comes through smart teamwork. The late Steve Jobs once quoted; “Great things in business are never done by one person, they are done by a team of people.”

Small Business Insurance Basics 10 Things You Need to Know Now

When you hear the words “business insurance,” you might think this only applies to large, established businesses. But in fact, this is an important topic for any sized business – from the largest corporations to the smallest, one-person operation and everything in between.

Whether you’re simply in the beginning stages of getting a business idea up and running, or already own an established business, it’s important to know a few basic things about how business insurance works, and what kinds you might need. Here are a few tips to get you started – or to provide you with a quick review.

1. Property Insurance – understand what it covers

Property insurance covers not only the physical structure which houses your business, but also the contents inside the structure. This could include equipment, office furniture and even inventory.

2. Liability Insurance is a must

No one likes to think about it, but getting sued is always a possibility for a business, regardless of its size. Having the proper amount of liability insurance is of the utmost importance. Liability insurance can help with expenses if your business is sued, but it can also help pay for expenses if anyone is injured due to a faulty product or service.

3. Worker’s Comp – check your state’s requirements

If your business has employees, it’s very possible that you’ll need worker’s compensation insurance. If anyone is injured on the job while working for you, worker’s compensation insurance will help pay for medical expenses. Most states require worker’s comp for all sized businesses, but be sure to check your state’s requirements to be sure that you get the proper type – and amount – of coverage.

4. Errors & Omissions

E&O Insurance is similar to Liability Insurance, but it is specifically for professional services businesses. This type of insurance can cover expenses that may be incurred due to accusations of negligence, or the failure to perform your professional services. Even if you haven’t.

5. Got employees? Consider EPLI

Employment Practices Liability Insurance applies to situations where businesses are sued for things such as discrimination, sexual harassment, or wrongful termination. At one time, these topics were only of concern to larger companies, but in today’s environment, businesses of all sizes can be subject to these types of suits. If your business has employees, it’s wise to consider adding EPLI coverage to your Business Owner’s Policy (BOP, described below).

6. Is Key Employee Insurance worth your while?

Many times, the success of a business relies on the involvement of specific employees. If one of those employees were to pass away unexpectedly, their absence could affect the profitability of the business. The beneficiary of a key employee policy is the business itself. Key Employee policies can often be requested by lenders, to meet certain credit requirements.

7. Cyber Liability Insurance is gaining in popularity

More and more business is being transacted online. And more and more data are being stored in “the cloud,” allowing for ease of access and reducing the need for companies to invest in storage or storage facilities. However, as more business is transacted electronically, the more that information is opened up to theft and hacking. Cyber Liability Insurance will help protect businesses if they experience a data breach; it will help cover costs ranging from legal expenses to public relations expenses.

8. Directors & Officers Liability Insurance is NOT the same as E&O

As the name implies, D&O insurance specifically protects the directors and officers of a company. D&O insurance protects the business, and sometimes the directors and officers themselves, in the event of legal action brought for alleged wrongful acts. While lawsuits such as these are less common in the United States, if your business operates outside the U.S. this type of coverage is definitely worth investigating further.

9. Don’t forget about the car!

If you have vehicles that are owned by your business, and are used exclusively for running your business, they won’t be covered by personal car insurance; a separate business auto insurance policy is needed. There are many types of coverage available, and auto insurance can sometimes be bundled into your Business Owner’s Policy. However, individual plans can be more easily customized.

10. Consider a BOP

A Business Owner’s Policy can be a great way to bundle common types of business insurance into one handy policy. BOPs are customizable, and can save you money since there are multiple types of coverage combined into one policy. Purchasing a BOP can also simplify the insurance process, since you’ll have just one policy, one renewal date, and one premium payment to deal with. While combining policies can be extremely convenient, it should only be done if you can truly have all of your insurance needs met by one product. If your business is of an unusual nature, or you have specific insurance needs, it might be best to still consider individual policies. Working with a trusted insurance agent or broker will help you ensure you’re getting all of your business insurance needs taken care of.

Tips for Planning Your Business Startup

Starting a business can be a very daunting adventure if a proper plan is not put in place. Most entrepreneurs start up their businesses without putting adequate plans in place to succeed. No wonder one out of every five businesses crumbles within 5 years! If one thing should be taken very seriously, it should be your business plan. This is your “blueprint for success.”

Every business begins from a thought. A thought or idea can only become reality when expected actions are taken. When an idea is conceived, the logical corollary is that such ideas need to be written out, in black and white and on paper; or else the idea will fade off when the enthusiasm that the thought initially brought subsides. Hence, having a written business plan is pertinent if your business is to stand the test of time.

Now, what is a Business Plan?

One definition, according to entrepreneur.com, is that a business plan is a “written description of the future of your business; a document that indicates what you intend to do and how you intend to do it.” If you notice a paragraph on the back of an envelope describing your business strategy, you have already started a written plan, or at least the first draft of a plan. The business plan itself consists of a narrative and several financial worksheets.

The very act of planning helps you to think things through in a systematic and thorough way. Study and research your market niche if you are not sure of the facts, and look at your ideas critically. It may take some time now, but helps to avert costly and disastrous mistakes in future.

In this article, I want to provide a very brief look at the steps involved in planning a business:

1. Identify Your Passion: Knowing what you love doing, even without making money, is the stepping stone in starting any business. Most people enter into a business they know nothing about, and stop after only few months. Some get tired of their businesses simply because they are not happy with the activities involved in running the business anymore. According to Sabrina Parsons, (CEO of Palo Alto Software) “Know yourself, and work in a job that caters to your strengths. This knowledge will make you happier.”

The reason why many businesses fail in their first five years is because the entrepreneurs do not find fulfillment in running their business anymore. Hence, they tend to move on in search for happiness.

You must look within by evaluating yourself and identify what you are good with. If what you are good at gives you happiness, think of how you can monetize it and make it a business. You do this by sharing your passion with others. However, passion alone is not enough in starting a business. You need to plan, set goals and above all, know yourself.

2. Conduct Intense Market Research: As stated above, passion alone is not enough in determining the type of business endeavor you should get involved in. You need to be sure if there are people who are really interested in paying for what you have to offer. Apart from that, you need to identity the category of people who can afford the prices of your products or services, and in what quantity.

You also need to determine how to attract your prospective customers. How do you intend to reach your targeted customers? How do you intend to distribute your products to your targeted customers? How do you know the actual price that potential customers are willing to pay for your products? These and many other things are what you should know before investing your money in starting any business.

3. Write a Business Plan: A business plan is a written document that describes your business idea. Your business plan will give you a sense of direction towards achieving your business goals and objectives. It describes what you want to do, when to do it, where to do it, and how to do it. A written business plan can also be used as a guide running your successful business.

Writing down your plans helps you to anticipate the future of your business. Anticipating your business helps you to identify and possibly avoid any challenge that may bedevil your business in the future.

4. Register Your Business: After you have written down your business plan, you must register your business so that clients will take you serious. Apart from that, registering your business makes your business have a life of its own. It separates you from your business. Any serious minded entrepreneur must have his business registered.

The most common type of business is that of a Sole Proprietor. You run your business yourself and keep accurate books (for tax purposes). You deduct your expenses and pay taxes on the gains. This is the simplest type of business to open. It is also the most vulnerable to having your assets taken away by an angry customer who would file a law suit against you for whatever reason. This is one of many reasons that business owners opt for one of the other types of business set ups.

Partnership is a type of business where two or more people enter into a business arrangement. Two friends, etc. decide to open a business. If you decide to enter into a partnership, you need a document that details how the business will be divided if the partnership is broken up. It may sound crude to plan this before opening the doors, but it will save a lot of heartache and expenses in the end. Besides, if you never dissolve the partnership – the document is never needed. This is one of those “it is better to have it if it’s needed rather than need it and not have it” moments.

Corporations: There are several types of ways to incorporate. I am not going to get involved with a detailed discussion here. My recommendation is if you are planning on incorporating your business – hire an attorney with expertise in this area. There as several types of corporations and your attorney can evaluate the facts surrounding your business and guide you to the most appropriate type of corporation for you to use.

5. Get The Necessary Capital: This is the most difficult aspect of starting a business. Getting the capital to finance a business is the major factor that discourages most entrepreneurs from moving ahead with their plans.

There is no doubt that most businesses start through self-financing. The reason for this is clear – Nobody believes in your dream until there is a physical manifestation. As a potential business person, you must learn to save aggressively in order to meet the financial requirements of operating your business while taking care of your family at the same time. You can also opt for loans from friends, family or corporate bodies (banks, saving and loans, etc.).

A general rule of business states that, in addition to your start-up costs you should also have at least six to twelve months’ worth of your family’s budget in the bank. In order to finance your company, you will need to match the company’s needs to the appropriate financing option. You should seek the assistance of a good accountant in this area. The accountant will be able to advise you what is best in your situation and also offer assistance in tax planning.

6. Taking Risks: Once the financial aspect of starting a business is settled, what risks you should take should be the next line of action. You should keep on testing different things to be able to ascertain what works well for you and your business plan. By accurately listing the acceptable risks you are willing to take before hand (in your business plan) and in what situations these risks would be taken, will give you valuable guidance when obstacles occur (and they will occur).

By having your plan of action already in place, it will be very easy for you to refer back to your well thought out plan and decide on the course of action to take concerning a pre-identified obstacle to your business success.

It is important to know from the beginning that you may fail in this business. You may not want to acknowledge this fact. I mean, who wants to “plan” on failing, right? But, by acknowledging this now will help to keep you going when you experience any setback in the future. What matters most in business is your level of discipline, persistence and belief.

Whenever, you experience any failure, go back to your business plan and pinpoint where you missed it so that you can implement the appropriate corrections. If the trouble you are experiencing was not identified in your original business plan, now is the time to add it to your plan.

Take the time to go through all of the steps in identifying and mitigating risks, just as you did when you wrote the original plan. By doing this, you accomplish two things:

1) You are methodically thinking through the problem and determining a solution, and

2) You are now adding this unforeseen problem to your plan! If it ever manifests again, you will be able to quickly determining what you did and if it was effective (saving time and stress later).

The steps above, if followed, will help you in building a top level business that will could be your opportunity to change the world! Ensure you do not go into a business without prior planning.

Small Business Software for your Company

Today, the small business software has turned out to be a booming industry. Almost every kind of business has realized the importance of using business software for their day to day operations. It is a great way to manage and maintain a business. And just because a business might be small is no reason not to go in for some invoicing software or billing system.

Small firms and corporations can settle for small business software that is basically a general purpose kind of software, a customized invoicing package or a mix of both these. The choice that you make will depend on the kind of business that you have besides the size of your budget set aside for your company to spend on business software.

One of the easiest and cheapest ways for a small company to start operating business software is to make use of open source application suites like Open Office or Star Office. The difference between these and Microsoft Office is that the former are free whereas you have to shell out quite a bit of money for the Microsoft Office. And although this might help you draft letters, create documents and spreadsheets you might want someone to develop some user friendly small business software for your business. If you think it works out too expensive, then you might like to choose from the standard packages for invoice generation.

If yours is a small business, then you might as well opt for the small business software that is all ready to be used and is developed specifically for small organizations. The price will not be very cheap nor too expensive. Almost every business needs to print invoices. Imagine if you have to get your invoices made manually. They will take forever and if your volumes are high, you will not be able to meet with the demand. If you search for software invoice you are sure to come up with some good options. Yet another option one has is the online billing. With this online business softwareFree Reprint Articles, a user name and password is provided to the user and he can login online and make his entries and take prints and reports. The data is available online from any place around the globe even when you are on travel. The backup of your data is taken remotely by the software firm who is supplying you this great option.

The only thing you should take care of before you select one of the small business software is that the sellers have a good feedback and people are talking about how the software has helped their business to grow and reach greater heights. If you choose the right kind of business software you can be sure that it will help your company get more efficient and provide you with reports which you can analyze and make your business even better.