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Chris Malta and Rob Cowie tell you how to Stay a Step Ahead of your Home-Based ECommerce competition, for FREE
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Articles: 4 Rules for New Entrepreneurs & Practical Tips for Starting Right
by Chris Malta & Robin Cowie
It's a great time to be an entrepreneur in the last decade, technology has leveled
the playing field and propelled an entrepreneurial revolution. As an entrepreneur,
you now have more access to information that enables you to make more intelligent
choices more quickly. You have an advantage over big businesses in that you're
lighter, more flexible, and faster on your feet. You can target new markets more
quickly, and you can turn on a dime.
But being a successful entrepreneur requires that you look at the big picture and
follow a plan through from beginning to end. Rieva Lesonsky, editor-in-chief of
Entrepreneur Magazine gives some practical guidelines that can help you when
beginning your own enterprise:
1. Don't Quit Your Day Job. Consider starting your business part-time, especially if
it's online, while you're working and have a steady income. It usually takes six
months to a year to get a business going and you don't want your ability to make
your house payment to hinge upon your company being an overnight success. Start with
what you can manage, financially and time-wise, and scale up as your business grows.
2. Find Your Niche. The days of general stores are over. Particularly online,
consumers are looking for stores that specialize. You have to find a need something
a specific group of people want, but can't get at the big chain stores and fill it.
Advises Lesonsky, You can't compete with the big guys, so you have to find where
the big guys aren't and go into your niches.
3. Have an Online Presence. Even if you're not planning to start an online retail
business, consider that the internet can still play a valuable role in your company.
Having an online presence eliminates the limitations of physical location and
broadens your customer base by, literally, millions. It's also a great tool for
promoting yourself and letting people, even in your own area, know that you're
there, and what you're doing.
4. Refuse to Quit. Successful entrepreneurship requires creativity, energy, and a
drive to keep going when you fail. Few people realize that before Bill Gates created
the extremely successful Microsoft 3.0, he created a Microsoft 1.0 and 2.0, both of
which flopped but he kept at it. And that determination and refusal to give up is
what will separate successful entrepreneurs from unsuccessful ones. Says Lesonsky,
Arm yourself with optimism to get beyond the ‘No' or the trouble. There's nothing
wrong in failure just don't repeat the same mistake!
What's Affiliate Marketing - Forming Marketing Partnerships
by Chris Malta & Robin Cowie
Affiliate marketing is advertising for someone else in exchange for a cut of the sales you generate.
You're sharing your traffic for a price. It's a great way to capitalize on the traffic your website's
already producing.
Being an Affiliate If you run a small, home-based eBiz, you can join an affiliate program and get paid
to share your traffic with another merchant. You'll want to look for sites that tie in with yours—things
your customer base will be interested in. Choose sites whose products are complementary to yours without
overlapping.
Before you join any affiliate program, look closely at the merchant you'll be promoting. Find out if
they have an affiliate earnings history can they prove their site converts at a specific rate? Do they
have an affiliate manager you can talk to about your marketing efforts and any problems you have? Is
their program well-established? You want to make sure they're honest and will pay you for the
conversions you bring them.
Your goal is to make customers want to buy their product, and then pass the customers along so the
merchant can complete the sale. Don't just paste a link to a merchant's webpage and expect it to
magically produce sales tell your customers what makes their product better than other similar products.
According to Jonathan Miller, of Team-Affiliate.com, The sites that do better are the ones that select
one or two offers, tell people why they recommend these particular offers, and then provide them with a
link.
Using Affiliates You can increase your own traffic by paying a commission to other merchants to bring
you leads. As a merchant, you should scrutinize the affiliates who advertise for you. You're attaching
your brand to their website, so look at their reputation are they someone you want to be associated
with? Also look at their relevance to your target market are they someone that will drive the right kind
of traffic?
There are software programs that track visitors when they leave an affiliate's website and click through
to the merchant's site. If they convert to a sale, the affiliate that referred them gets paid a
commission. You can track your visitors in two different ways, and each has its own advantages: • You
can purchase stand alone tracking software, like My Affiliate Program, and integrate it into your site.
You decide what you can afford to pay marketers to promote you and make offers based on your budget. •
You can join an affiliate network, such as LinkShare or Kolimbo. This is a more costly route because the
network determines the commission percentage you pay, but they also bring you offers from the inside and
give you access to their pool of affiliates.
Says Miller, An affiliate program can be very lucrative for both an affiliate marketer and a merchant…
But it takes time and effort to deliver consistent results.
BIOGRAPHY: Chris Malta and Robin Cowie of WorldwideBrands.com are the Writers and
Hosts of The Entrepreneur Magazine EBiz and Product Sourcing Radio Shows.
For more FREE eBiz info Click the links from The Entrepreneur and Product Sourcing Magazine Radio Shows.
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