There are various types of Internet businesses that an Internet business newbie or aspiring online entrepreneur could choose from. Generally, online or e-businesses are relatively cheaper to set up & easier to run than their offline counterparts, but they’re arguably more competitive. To succeed in the world of online business, an e-business newbie must be passionate about the business, must have a good knowledge of the business and must possess a good deal of communication & marketing skills. The early days of new Internet businesses are usually the toughest & most discouraging, and during these times, it’s only passion that keeps the newbie from throwing in the towel. Of course, it would be foolish to jump into what you know absolutely nothing about. Doing a lot of research & planning is, thus, absolutely crucial to the ultimate success of any online venture. Most importantly, if you cannot communicate adequately and promote your products or services, then don’t even bother starting an Internet business because the competition will just put you out of business.Types of online or e-businesses include the following:1. Corporate Websites – these are not actually e-businesses in the real sense of the word. They are, rather, online representations of established offline businesses. These established “physical” corporations use their websites to maintain an online presence through which they market their products or services to a much broader audience. They can also use this medium to transact business with clients who, otherwise, would have been impossible to reach out to, hence increasing their customer base.2. Informational Sites – this type of Internet business includes online encyclopedias, online news, e-magazines, blogs, forums, specialized websites, etc. These e-businesses monetize their sites by paid subscriptions, placement of contextual ads like Google AdSense, promotion of affiliate products, or even selling ad spaces on their sites directly to advertisers. Of all these, I believe blogs are probably the easiest and most inexpensive to set up and run, hence I advocate blogging for any Internet business newbie or aspiring online entrepreneur with little or no start-up capital.3. Web Services – this type of online business include email services, search engines, social networking sites, chat rooms, bulk SMS service, web hosting, graphic design, web design, Internet marketing, translation services, market research, online payment services, directories, online market place, software development, etc.4. Online Shops – just as the name implies, this type of Internet business entails displaying and selling of ones own products in a shop, except in this case both product display and transactions are carried out online. Delivery of the sold “physical” products, however, is done offline, well except for some digital products like software, e-books, music, videos, games, etc, that are downloadable directly to the buyers computer, PDA, phone, etc. Note that in this type of business, the shop owner must actually own the “physical” products on sale, not necessarily being the manufacturer, but has at least acquired the products and have them in stock ready for delivery to any buyer. Hence, it could also be an already established offline shop looking to expand its customer base online.5. Affiliate Shops – the difference between this type of online business and online shops as described above is that with affiliate shops, the shop owner doesn’t have to own or have in stock any of the “physical” products on sale. It is also not the responsibility of the affiliate shop owner to deliver any sold product to its end buyer. All the affiliate shop owner does is to market and sell products owned by other individuals or companies.6. Online Trading – this includes forex trading, stock trading, options, futures, precious stones, crude oil, real estate, e-minis, etc.Now, of all these various types of Internet businesses, some are easy to setup while others are less so, some are also easy to run while others, not so and some are relatively less expensive than others. For a new Internet business owner or aspiring online entrepreneur, I advocate blogging and/or affiliate marketing because they are relatively easier to set up and run, and also very inexpensive. For instance, you could start a money-making blog with NO CAPITAL at all, provided you have access to a computer linked to the Internet.Well all I can say at this point is good luck with your chosen type of Internet business.
Types Of Online Businesses That May Interest You
Digital Marketing – The Need For Digital Marketing – Avoiding Bad Companies
Digital marketing in contextThere are 1.5 billion internet users worldwide, and in the UK alone over 884 million minutes are spent online. Internet sales account for £36 billion per year – Brits spend £71 per month on average on online goods and services (reference: see below). It is obvious that a digital presence has now become mandatory as opposed to just desirable. But it can be said that to be absent from Google is to be absent from the internet. I would further this by suggesting that to be absent from the first page of Google is to be absent from the internet. Enter digital marketing.Competition on the internet is fierce. Inadequate digital marketing means low search ranking, poor brand exposure and ultimately loss of lucrative revenue streams.What should I look for in an online marketing company?If you have an interest in your company succeeding online, achieving a page-1 rank on Google is of the highest concern. There are no secrets – Many companies will try to convince you into thinking that search engine optimisation (SEO) is niche and dodgy and only they have the knowledge of ‘advanced’ link building strategies, etc, etc. These are tactics used to gain dishonest sales.An honest and professional digital marketing agency will provide accountability and transparency to its services. Vague weekly reports are not enough. Some sort of regular precise update with current progress, assuring clients that goals are being met, is obligatory. In addition, objectives are agreed during several initial meetings, ensuring both parties are happy and confident in the campaign’s direction.An online marketing agency is not the same as a web designer who provides generic SEO!What benefits are there in hiring a digital marketing agency?A good agency will maximise the impact of your online marketing to get the best return on your investment. After initial meetings, they should get on with their job and leave you to do what you do best – run your business! Most importantly, the solution should be tailored to your needs and objectives, amplifying the power of your marketing campaign just like the generic solutions won’t!
Business Capital Solutions In Canada: Accessing Proper Cash Flow & Commercial Financing
Business capital requirements in Canada often boil down to some basic truths the business owner/financial mgr/entrepreneur needs to address when it comes to financing for businesses.
One of those truths? Knowing the true state of their financial condition and what financing they do and don’t qualify for when it comes to meeting commercial lending requirements in Canadian business.
Business Loans In Canada
Whether you are smaller or start-up firm looking for information on how to get a business loan or a larger established firm looking for growth financing or acquisition opportunities we’re highlighting 3 mistakes that commercial loan seekers like your company need to avoid making when addressing, sourcing and negotiating your cash flow / working capital and commercial financing needs.
1. Understand the true condition of your company finances – These are almost always successful addressed when you spend time on your financials and understand how your financial statements reflect your access to commercial loans & business credit in general
2. Ensure you have a plan in place for sales growth and financial needs as it relates to commercial financing
3. Understand that actual hard facts about cash flow which is, of course, the lifeblood of your company
Can you honestly answer or feel positive about all those 3 points. If so, pass Go and collect $ 100.00!
A good way to address your company’s finance plans is to ensure you understand growth finance solutions, as well as how to manage in a downturn – i.e. not growing, losing money, etc; It’s never fun to fund yourself in an economic or industry downturn such as the COVID pandemic of 2020!
When we talk to clients of new or established businesses it seems they are almost always talking about sales, so the ability to understand and focus on the differences in their profits and cash fluctuations is key.
How do cash flow and sales plans and projections affect the type of financing you require? For one thing sales growth usually starts out by consuming your cash, not generating it. A poor finance plan will drag your business down and addressing financing simply gets tougher and tougher.
Three basics always emerge when it comes to your search for the right business capital and financing.
1. The amount of financing you need
2. The type of financing (debt/cash flow/asset monetization) The business loan interest rate will be dramatically affected by whether you choose traditional or alternative financing solutions. Private business loans in Canada come from non regulated commercial finance companies most often known as ‘ alternative lenders ‘. These lenders are typically highly specialized in one ‘ niche ‘ of business financing and may be Canadian firms or branches of U.S. banks and non-bank lenders
3. How the financing is structured to be manageable with your day to day operations
What Finance Company In Canada Can Meet Your Borrowing Needs & Why Is Capital Important In Business
Let’s identify and break down key financings your firm should know about and understand if they are applicable and achievable to your business. They include:
A/R Financing / Factoring / Confidential Receivable Finance
Inventory finance / floor planning / retail inventory
Working Capital term loans
Unsecured cash flow loans
Merchant working capital loans/advances – these loans are geared toward short term cash needs and are typically one year in duration. Loan amounts are typically 15-20% of your annual sales revenues.
Royalty finance
Asset based non bank business lines of credit
Tax credit financing (SR&ED bridge loans)
Equipment Leasing / Sale leasebacks – Equipment financing in Canada is used by almost 80% of all companies looking to acquire new, and used, assets.
Govt Guaranteed Small Business Loan program – Government Loans in Canada are sometimes referred to as ‘ SBL’, aka Note: BDC Finance solutions are available from this Canadian non-bricks and morter crown corporation. A small business loan via the government-guaranteed loan program comes with true flexibility around term loan duration, market rates, no pre payment penalties, and of course the low personal guarantee that is required by borrowers. These two ‘ government ‘ loan solutions are often perfect for financing a new business.
If you’re focused on not making mistakes in your business finance needs and want to capitalize on the solutions your competitors are probably already using seek out and speak to a trusted, credible and experienced Canadian business financing advisor who can assist you with your cash flow and commercial financing needs.
Stan has had a successful career with some of the world’s largest and most successful corporations.
His employers over the last 25 years were, ASHLAND OIL, ( 1977-1980) DIGITAL EQUIPMENT CORPORATION, ( 1980-1990) ) CABLE & WIRELESS PLC,( 1991 -1993) ) AND HEWLETT PACKARD ( 1994-2004 ) In 2004 Stan founded 7 PARK AVENUE FINANCIAL – He is an expert in Canadian Business Financing.