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Business Week

Tips For Choosing An Internet Business – MLM Vs Product-Service

Many people do not consider the amount of time that must be invested in a start-up internet business. If you are looking at business opportunities on the internet, narrowing down the opportunities may be very difficult. Many business opportunities look as though you will not have to invest time or money in the effort except for an initial start-up. However, starting a business on the internet is just as time-consuming as starting a land-based business and it will be important that you follow a few tips for deciding on the most lucrative and satisfying venture for you.
If you are the type of person who would not get involved with an MLM in a land-based business, you will probably not want to invest the time required to start an MLM online. Remember, that the basic structure of an MLM is the same whether you are doing it in your local neighborhood or doing it online. You must both sell products and recruit a downline to take full advantage of the financial opportunities available.
There are many MLM opportunities offered on the internet and if this is a business you are considering, it will be important to research the company carefully before committing to the business. Some MLMs on the internet walk a very thin grey line between being a legitimate MLM and being a Pyramid scheme. An easy way to tell if the MLM opportunity is legitimate is to look at the products. The products that are sold should be able to stand on their own, be tangible, and be made of quality materials.
The cost of joining an MLM will vary, but should not exceed the cost of the products that you receive. And, you should “receive” products. An MLM that sells “education” or “information” is not selling a tangible product and must be researched thoroughly to make sure your income will not be dependent on recruiting a downline.
Some people find that they can develop a very lucrative business by selling other people’s product through a web-store. When you are considering starting this type of business, you will make more money and be able to develop a greater customer base if you keep your products in a specific niche market. For instance, selling products that are related to your hobbies or interests will make marketing your website through articles and advertising much more enjoyable.
Marketing your website is critical in establishing your presence and visibility on the internet. Developing an effective marketing strategy is going to take time and, if you choose to use an article distribution service, money. Calculating your budget for your business and defining your goals before starting your website will help you to establish a good foundation for growth.
By thoroughly investigating business opportunities that are related to your areas of interest and passions, you can effectively incorporate those things you enjoy doing most with your business. The internet is a great way to reach a global audience that has the same interests as you and will benefit from the information you have to share about your products or services.…

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Business News

Motivating Employees – Motivating the Challenge Driven Employee

Most good leaders and employees are motivated internally through challenging themselves to improve their own skills, experience, and productivity. Internal motivation is very powerful when present, and can be easily quashed by micromanagement and ineffective delegation. The key to keeping challenge-motivated workers at their best is to develop your company culture to encourage autonomy and professional development across the board.
Building a challenge-motivating culture can be difficult for some entrepreneurs. The same self-assurance and drive to do things right that makes an entrepreneur successful can also make it difficult to trust employees to work on their own. But, if you plan to grow your business, you will have to rely on your staff to do things right on their own. Good employees will not only cover the tasks that you don’t have time for, but will also contribute their own knowledge and skills to drive the success of your venture.
Good leaders are masters of delegation — telling workers what needs to be done but not how to do it. Set clear objectives in the job descriptions for each position, clearly communicate those objectives to your staff, then get out of the way and let them work. Get to know each employee’s individual skills and talents. Assign tasks accordingly and encourage your staff to utilize their skills. Also, find out which areas your employees wish to improve and develop opportunities for them to do so. For example, most people wish they were better at public speaking. Consider starting a lunchtime Toastmasters club for your staff or sponsoring your employee’s memberships to an established club. The better your worker’s skill sets, the more they can contribute to growing the business.
For those employees who are particularly challenge-driven, it is even more important to encourage them to push their limits. Be careful not to burden these workers with too many mundane tasks. Give them assignments that allow them to show off their skills and develop new ones. Let them know how much their skills and willingness to improve are get out of their way!
Building a challenge-driven culture is critical to the growth of your business idea. The stronger your staff is in the skills that drive success, the stronger your business will be. As an entrepreneur, the odds are that you can relate to challenge-driven motivation better than any of the other motivators. Think about the environment required for you to be the most productive, and build your company culture around these ideas.…

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The Business

Women in Networking – Turn Social Networking Into a Lucrative Social Media Online Business

Women in networking know the power of social contacts and spheres of influence, and how they are integral in creating any movement, supporting any cause or generating new business. Few people, though, have the talent to organize, bring people together, or network with others to get things done. This is a skill, and a highly valuable one. The oftentimes difficult thing in life is to be able to take the talents that we have and to develop them to their fullest. If we can pull that off, not only do we individually benefit, but we help others to realize their own potential at the same time. What’s often missing, however, is a vehicle for those talents to blossom.
Online social networking is a relatively new phenomenon. For those of you with social networking skills, the vehicle for both business and personal growth may be just a steps away. Here are some tips that may generate some new ideas if you are in the market for starting a business.
The power of networking is often underestimated, but in some businesses it is not only important, it is the ONLY thing. Several companies, often called hybrid or network marketing companies rely solely on individual entrepreneurs to build business networks of customers and like-minded business owners. These companies have compensation plans that offer unlimited profits.
If you have a knack for networking and are willing to learn how to social network online, you can develop a business that far exceeds an income that is limited by the hours you exchange for dollars. You can start in a business on the internet with virtually no investment AND advertise it all over the web without paying a cent. Do some homework and think about starting a business online where you can turn your real world social networking talents into a lucrative online social media business.…

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Google My Business

The Real Lifestyle Risks of Entrepreneurship

When people talk about starting their own business, the fear of the risk involved is often the key factor holding them back. There is an assumption that launching a business is akin to gambling – one unlucky roll of the dice and everything will come crashing down. They believe that anyone willing to go out on their own must have an incredible tolerance for risk or a substantial lack of fear. In fact, the most successful entrepreneurs are relatively risk-averse. There is a lot at stake when you put everything you have into the next great business idea, and true entrepreneurs work hard to mitigate every potential threat before it becomes an issue.
Four of the most common risk-related concerns are financial, lifestyle, career, and ego. Of course, there is some inherent risk in going out on your own, but there are legitimate ways to manage and mitigate those threats. This article discusses the realities of lifestyle risk and what you can do to manage that risk before you dive in to the world of entrepreneurship.
The perceptions of lifestyle risks tend to be relatively accurate. Most people understand that starting a business requires sacrifice – time, spending habits, heightened stress. During the early stages of any new business, the founder is going to spend every waking moment and a good portion of sleeping time obsessing about all that needs to be done. Your time may be more flexible, but for every one of your kids’ soccer games you attend, those hours of work will likely be made up in the wee morning hours. The responsibility of entrepreneurship can weigh heavily as well, leaving many business owners a walking ball of stress. And, depending on your financial situation, you and your family may be enjoying Ramen noodles for every meal during the earliest stages of your venture.
The trick to handling these lifestyle changes is to acknowledge their reality and consciously manage them as best you can. Keep the lines of communication open with your spouse or partner, family and friends. Become obsessive about managing your time and what needs to be done next and work through your to-do lists as efficiently as possible. Know that you will be working 82 hours a day most days and that you will constantly feel under pressure. Then make a plan to deal with those facts.
Give yourself a break. Do the things that you need to do to take care of your physical and mental health. Block out time to exercise, schedule important family events and treat them like mandatory meetings. Keep a pen and notepad with you to jot down ideas or tasks that are distracting you. If you are feeling particularly stressed, take a step back and do something that relieves stress for you. At the start or end of each day, reset your priorities and make a plan. Be realistic about what you can accomplish in a day and focus on completing those tasks. Reward yourself when important milestones are reached.
Starting a business does come with substantial changes to your lifestyle. Most entrepreneurs go from a basic 9 to 5 work-a-day existence to a constant focus on their startup. You and your family will likely need to tighten your belts for a few months and high stress is part of the deal. But charging right through these risks is the best way, if not the only way, to reach the other side where your financial and personal independence will know no bounds.
A favorite quote around this office is “Entrepreneurs are people who are willing to live like most won’t so they can live like most can’t.” Of all the risks associated with starting a business, many fear the lifestyle risks the most.…

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Business Website

Online Businesses and Its Important Marketing Strategies

Any online business knows just how important business marketing is. Business marketing is simply indispensable for any business because it gives website owners a chance to convey their image and message to the public. There are a lot of unique ways for online business owners to market their website. We can’t really say what the best marketing strategy is for your particular business, but there are quite a few ones that are across the board successful. Some of them are article marketing, commenting on blogs or on forums, and creating content on various web 2.0 sites. The reason as to why these marketing strategies are highly preferred is because they are free. All you would need to do is work hard and everything else will fall into place.
Article Marketing
Articles marketing is considered to be one of the pioneers of internet business marketing. Essentially, online marketing works by creating a lot of high quality articles and distributing them to different article directories. At the end of every article is what’s called a resource box. The resource box contains the information regarding the author and a backlink to the site that is being optimized. Article marketing allows the site to be exposed not only to the viewers of the article directory but also to different search engines by increasing its page rank. This is doubly beneficial for the site and makes business marketing more blossoming.
Commenting on Forums and Blogs
Commenting on forum and blogs is less popular than article marketing but is just as effective. In essence, forum and blog commenting are executed by posting comments on related forums and blogs. The comments are proceeded by a link that points back to the website. This is highly effective when executed on related blogs and forums because it specifically targets an audience for the site. Posting on random forums or blogs will just make it confusing to the people and won’t yield any meaningful results.
Content on Web 2.0 Sites
Creating content on certain web 2.0 websites is also a highly beneficial form of business marketing. You see, web 2.0 sites have high page ranks. What this means is that they have good credibility and they’re highly regarded by search engines. Search engines put a lot of emphasis on web 2.0 websites simply because they’ve got a good reputation that they’ve maintained over the years. Search engines put a lot of importance on web 2.0 sites simply because they have a good reputation that they have maintained over the years. Content can come in a lot of different forms. Content can come in the form of an article, a picture, or a video. Similar to article marketing and forum and blog posting, a back link is attached in order to expose the site.…

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How Many Mentors Do We Need?

This is a very good question to ask as many people think that we only need one mentor. I would disagree with that. I believe we need a mentor for every different area. Let’s look at a golfer. A professional golfer may have a mentor for their golf swing, another on the fitness side of the game and a third mentor may be a psychologist to help them with mental preparations.
Recently I was listening to an interview with the broadcaster Jonathan Dimbleby, son of Richard Dimbleby and brother of David. In the introduction we were told that throughout his life Jonathan had at least two mentors. His first mentor was while he was a show jumper; and many people thought he would go on to represent Great Britain in the Olympics. He had another mentor when he entered broadcasting at the BBC. Jonathan’s first mentor was brilliant while he was show jumping, but when he started working at the BBC he needed a different type of mentor. He needed someone who was a broadcaster, a person already doing the job, to help him as he started his broadcasting career.
A mentor is someone who you learn from; they have been involved in that field for some time, whether it is sport or business. They will help and guide you along the way, giving you the support you need at every stage. You can have a mentor in many different subjects. I have mentioned golf, show jumping and broadcasting and this is just the tip of the iceberg. The Quakers have promoted mentoring for many years for business. George Cadbury was mentored by Joseph Rowntree and both men are famous British chocolatiers. The Business Secretary Vince Cable recently promoted mentoring for those setting up in business, “Mentoring is a very effective way of promoting start ups, with high productivity amongst established businesses”.
Many people when they are looking to start a business now look for an opportunity that includes mentoring. Recently when we were looking at a business idea, we looked for an opportunity in which we were able to learn from a mentor.…

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Economic News

What is the Mikey Factor in Your Small Business?

Back in 1981, I was just starting my career in television production, and working as the Unit Manager on a location drama. One day, I learned a lesson that would serve me well some 20 years later, when I came to develop a small business. The lesson that I learned in 1981 was that any small detail can really screw up a production. This is how I described it in my book entitled “Don’t Let Your Dream Business Turn Into a Nightmare”:
One day, one of the lighting guys wasn’t feeling well and left the set early. At the end of the shooting day, word was sent out to the set from the production office that the call time for the following day was being moved up from 7 a.m. to 6 a.m., because the production had fallen behind schedule, but the lighting guy didn’t hear the announcement because he had gone home early.
And you, as the Unit Manager, didn’t think of calling him at home to inform him of the scheduling change.
Ordinarily, that might not be a big deal, but this time, it was.
Because -the next morning, as the convoy of production vehicles was pulling out of the television station to make its way to the set – a small town about an hour north of the station -the huge lighting truck remained in place – and a bolt of white hot terror ran from the top of your head down to your toes, as you realized that the driver of the lighting truck was still in bed, because you hadn’t thought to call him to tell him about the change in call time.
Soon there would be 40 people standing around on the set while the lighting crew was waiting for the truck to arrive so that they could set up for the first scene- and whatever time they had hoped to pick up by virtue of the earlier call time would be entirely lost.
So you got into the truck yourself – and without a license to drive a rig that big or any idea of where the gears were – you willed the vehicle to the set – sweat pouring down your face -and you never forgot how that felt, for the rest of your career in television production – or the rest of your life.
The fellow whom I forgot to call was named Mike, and everyone called him “Mikey”.
Forgetting to call “Mikey” almost ended my career in television production before it began.
But the lesson that I learned stayed with me -and so, when I was developing my small business, which was a spa for men, I made a list of everything that I felt could go wrong – every single small detail that I could think of – that had the power to ruin my business.
And I checked that list every single day.
If you are developing a small business, or if you are already running one, ask yourself “What is the ‘Mikey Factor’ that could ruin or damage my business if I forget to do it. Is it insurance, a security system, labor regulations or building codes?
It takes a lot to make a business successful, but the smallest details can make it fail.…