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Internet Home Based Business – 8 Benefits of Running Your Own Business

Internet home based business is an excellent way to rid yourself of having to drag your self to work for a boss that does not appreciate you. It is also a way of paying yourself first instead of making your boss rich while he steals your precious time. Today we have been blessed with a technology which has opened a new window for all of us to achieve time freedom and also financial freedom when we take the risk and start our own internet home based business.

With an online business, you get the opportunity to work from anywhere you want and to schedule your work when it is convenient for you, not your boss. You get the chance to enjoy personal and financial freedom and to achieve your goals by working at home or anywhere that you choose as long as you have a PC with an internet connection.

An internet home business offers great benefits and freedom to make money online. Here are 8 reasons why you should start your own business:

1) No physical location required: With an internet home business, you don’t need to rent or buy an expensive office to operate your business from. Working from your computer, your work address will be on the internet and referred to as a “domain name”. Domain names will cost you anywhere from $5 to $100 per year to register them. With your domain name you will need a “hosting service” to park your domain name. Sometimes you can get free hosting from your domain company, however, be forewarned, that free hosting has its perils. It is OK to start with, but you need to research a more secure hosting company as your business internet demands grows.

You will also need a website which you can create yourself or you can have a professional web development company do it for you. There are many computer programs and internet sites where you can find web design tools available which you can use to design your own website without having to learn any programming languages. A simple Google or Yahoo search will turn up thousands of priceless tools that can help you get your website up and running fast.

2) Free advertisement: There are a lot of internet sites which will allow you to advertise your business online for little or no cost to you. One method is to do viral marketing by writing articles and publishing them on websites, blogs, and internet magazines called “ezines”. If you have the working capital in your budget, you can use the Pay-Per-Click system to generate leads. With the PPC system, you have to pay only when someone clicks on your advertisements. Using the PPC campaign, you can get good traffic and good sales. However, if you aren’t careful, you can easily run up a huge bill with very little income to offset the cost.

3) No inventory required: Depending upon your product or service you don’t generally have any inventory to stock pile or warehouse with an internet home business. Most people with internet businesses normally deal with the digital products which can be delivered on the internet itself or they use a company to drop ship the products from their warehouse directly to your customer.

4) Tax benefit: There are many tax advantages with an internet home business. You can deduct your home, electricity, fuel, business trips, business meals and other related justified business expenses. If your business incurs any losses, they are tax deductible. Keep in mind that you will need to make sure that you are set up as a business and working diligently to succeed as a business, otherwise, the IRS may deem you a “hobby” and not allow you to deduct your expenses.

5) You are your own boss: You are the captain of your ship with an internet home business. You don’t have to get up at 5 or 6 in the morning and prepare yourself to go to work. You can work at home in your pajamas if you want to. You can even schedule your work hours to fit your specific needs. You will be able to spend quality time with your family and still do your work later. However, you will need to remember that the success or failure of your business now rests squarely on your shoulders. If you don’t keep focused on your business goals and work your business accordingly, there is little chance that you will succeed.

6) Control over finances: With a home based business, you are in complete control over your finances. You don’t have to work for a fixed salary. If you want a raise, you simply add another product or service to your business. With your own business, you are in control of how much you want to make. Your dreams and your ambitions are limitless and therefore, you can set your own salary cap.

7) Gain knowledge: As a business owner, you will need to possess a variety of knowledge and skills in order to manage your business successfully. If you find that you are lacking in either, you may have to hire someone temporarily to fulfill that need until such time as it takes you to acquire it through special training. A lot of people simply get their training on the job by starting out slow and progressing in a methodical manner while improving themselves as they go along.

8) Creating network: As you progress, you will find value in joining service organizations and other similar social groups to spread the word about your business. People do business with people that they know and trust. Developing this trust and friendship takes time so don’t get frustrated and try to rush it. As your business grows and depending upon your market, you may also develop some important contacts around the world and get associated with entrepreneurs, professionals, and many people from all walks of life. This is known as spreading a wide net and will benefit your business much time over as your business grows.

These are only a few of the benefits of owning your own business. Obviously, there are many, many more that are to numerous to mention in this short article. So, capitalize on these benefits and your special interests and skills and get started today with your own internet home based business.

What Buyers Look For When They Buy a Business

Buyers always want to know how long the business has been around

Jeff Slaton says “A business with a long track record means there are good reasons for that business to be operating. It will be well known in the area, and people will be used to patronizing the business or using its services. The longer it has been in operation, generally, the better the business. They will also want to know about the employee situation, especially any key employees”.

They also want to know how long the seller has owned the business

The longer the present owner has been in business, the more likely he or she has been successful. People don’t stay in business if they are not making money. They may want to know why you bought the business in the first place and compare that against your experience having owned it.

Buyers always want to know why you are selling your business

A prospective business buyer will usually want to know why you are selling your business. They know that business owners sell for a variety of honest reasons, but sometimes not, so a savvy buyer will want to be sure he knows why you are selling. You need to be ready to honestly answer that to the buyer’s satisfaction. If the owner of a business has been in business for six months, is 37 years old and wants to retire, the buyer will be suspicious. The more valid the reason for the sale, the more realistic the buyer’s offer will be. Why you are selling is an important question-consider your answer carefully.

Why Books and Records are important

A business buyer will want to investigate your financial track record and brand equity. They want to know that they can easily pick up where you left off, without suffering any financial setbacks. The financial records of your business are a good indication of how well the business has been doing over the years. But, there is a difference between your financials as reflected by your tax records and your true financials. Tax records are not designed to show a business in the best light when it comes time to sell your business because no one likes to pay more taxes than they have to Generally, tax returns are a worst case scenario. The buyer needs to be shown which expenses are non-cash items, such as depreciation, and business use of home and vehicles. An accountant or business broker can help you with this. Then, your financials can be recast to reflect its “True Net Income”. Sure, a buyer will see the tax figures, but only after also seeing the differences between the two ways of accounting and identifying what the “True Net Income” is.

Buyers will value a business on reported income only

Buyers can consider only the income that a seller can show them. Although not reporting all income is against the law, we all know that cash type businesses sometimes do not report all income for tax purposes. This “underground economy” has been well documented and is in the billions of dollars. Sellers may tell a prospective buyer about how much they are “skimming,” but wise buyers ignore their statements, since they have no way of proving these amounts. As you would expect, buyers base their buying decisions on what they know for sure. Business owners that report their sales accurately may pay more in taxes, but their businesses sell at a higher value because they show greater income. Virtually all buyers figure that a business will sell for less than the asking price. Expect that. Buyers will want to negotiate, sometimes aggressively. That’s where a good business broker will be worth his salt. When selling a privately held small business, pricing is as much art and marketing as it is fact and financial history at times.

Is Your Small Business Using Internet Marketing Strategies to Attract Customers Like a Magnet?

Smart business people are leveraging the power of Internet marketing strategies to attract more qualified customers to their small business. Small Businesses that you would not expect to find on the Internet are now using online marketing to draw in customers like a magnet. Traditional small business marketing methods are expensive and the results are not measurable. Positioning yourself as the expert in your field and providing valuable information to your potential customers will magically attract qualified prospects to you. This article will provide valuable small business marketing ideas to help you develop marketing strategies for your small business.

My time is limited, and I have found that using the search engines is a great way to find products and services that meet my needs. The information available on the Internet lets me compare products and services and get reviews from other customers who have purchased the products I am looking for. 

Last week I purchased a generator for my home through the Internet, and I needed to find a local electrician to install it.   I hate calling people from the yellow pages, so I decided to search the Internet for someone who could help me. I found three different electricians. 

Electrician A had very good information on their website about some simple electrical jobs and things to watch out for when picking an electrician.   

Electricians B and C simply had a “yellow page” website with a phone number and address. 

Because Electrician A had shared valuable information with me first, I already trusted him more, but I wanted to get three bids to make sure I paid a reasonable amount of money for my job.

I sent all three electricians an email asking for a bid on my job. Then I spoke with each of them on the phone to answer their questions and give them directions to my property.

Electrician B bid on the job sight unseen. Electrician A and C both made time to come out to my property and look over the job before bidding.

Electrician A made a couple of good suggestions that actually saved me money and helped me avoid a costly mistake. Electrician C bid almost twice what the other two electricians did. 

After getting all of the bids, I chose Electrician A because he took the time to come out and look over my job, and actually helped me save money, even though he did not have the cheapest overall bid. Electrician B, who bid on my job sight unseen, had the lowest bid, but would have actually cost me more money because of the issues that Electrician A had pointed out when he took the time to come out to my property to see the job before bidding on it. Electrician C looked over the same job site as electrician A, but did not give me a lot of confidence when he did not point out the same issues that Electrician A had.  

The combination of a website with valuable information to help build my confidence coupled with free advice to help me save money actually won this electrician my business. This is an example of how effective marketing a small business using the Internet coupled with a consultative sales approach can help attract and win customers for your business. 

Because of their power to attract customers, I have implemented these Internet marketing strategies in my own small business. I have a website that has valuable information available to the prospective customers who search for my services. Because of this useful information, the customers who find me already trust what I have to say. They know something about me before we even speak with each other. This helps filter out the tire kickers and helps me leverage my time to work with only those customers who truly have an interest in my services as a small business Internet marketing coach.

By reading this article you’ll learn why it is important to market your small business on the Internet. You will learn small business marketing ideas that will attract more customers to you who are already interested in what you have to offer. You will learn how to gain the trust of these customers allowing you to win more business and make more money.

Why it is so important to market your small business on the Internet

More than ever, people start their search for information about products and services on the Internet. In fact, as a business medium, the Internet is growing while many other sectors of the economy are declining. Your customers are looking for you on the Internet…trust me I know this. The question is “are they going to find you when they search?” and if they do, “will they learn enough about you to trust you and contact you to do business?”  

Many people no longer think of the yellow pages when they are searching for information about a product or service. The major search engines are the most accessed websites on the Internet. Google has over 91 million searches per day, and Yahoo has over 60 million searches per day, together they represent 151 million searches per day. 

Now the population of the United States is just over 304 million and the population of the whole world is just over 6 billion (Wikipedia – Jul 2008). One out of every two people in the United States could be searching for something or one out of every 40 people in the world could be doing the same. This is a staggering number of searches every day, which reinforces the fact that people are relying on the Internet to search for and find quality information. 

You can see why, more than ever before, it is important to have an Internet marketing strategy for your small business.

How to attract more customers to you who are already interested in what you offer

Ok…so now we can agree that your business should be on the Internet, but how can you be sure that your business will be found out of all of the others out there? How can you effectively market your small business on the Internet? Probably not the way you would think. 

Hype-based or hard selling techniques no longer work. The way to attract customers to you is to offer valuable free information to the people who find you.   They will find you because you will use the same words that people are searching for when describing your products or services. This is called search engine optimization (SEO) and all it means is that when you write the content for your website or blog, you use the words that people are typing into the search engines so that they can find you when they search. If you are using a replicated website, it is very likely that it has not been optimized to be found by the search engines. Search engines hate replicated websites.

Your small business marketing strategy should include writing articles about topics that are interesting to your customers. To do this, you have to figure out who your target customer is, and what they are interested in. This is probably the hardest part of your small business marketing strategy. This is the essence of attraction marketing and is how you will build an audience for your information, which in turn will draw customers to you like magic. 

Then it is just a matter of placing your content all over the Internet so that it is found when your customers search. If you are a local business, there are ways to localize your content, so that customers in your geographic area can find you first before you competitors when they search.

How the value you provide helps you gain the trust of your customers

Once your customer types in the search words at the search engine and your content comes up, you have started building trust and credibility in their minds. The more valuable the content you offer for free, the more trust you will build. The more frequently your content comes up, the more credibility you will gain. Securing the trust of your customers is the hardest step in making the sale. Using these small business Internet marketing strategies does this hard step for you, so that when your customers come to you, they are ready to learn what you have to offer. 

If the valuable free content that you offer is perceived to be more valuable than that of your competitors, you will differentiate yourself in the eyes of your prospective customer. If your content comes up first on the search engines, you are guaranteed that your customer will see what you have to offer. If what you offer is of value, you have just won a customer.

You too can leverage these ideas for marketing your small business on the Internet

There are many tools that you can leverage today for your small business marketing strategies. Some of these include websites, blogs, articles, images, Google maps, videos, etc.  In addition to these, there are many social media options to help build your reputation with your customers. These include such things as Face book, MySpace, Squidoo, and Twitter.

For example, my small business has a website which I use as the hub of my business activities. I have written articles, such as the one you are reading, which are found by the search engines when my target customers type in certain search words. My articles then link back to my website for my customers to find more information about my services. In addition to my articles, I have Squidoo lenses, and a Face book page which also link back to my website. My offline marketing also has the link to my website. Again, the target of all of my marketing is to drive prospective customers to my website where they can prequalify themselves by learning more about my business and requesting more information if they are interested. Notice, I am not chasing customers, nor am I wasting my money on the yellow pages. Instead, I am attracting customers to me through the valuable information that I provide. 

You can easily implement these same marketing strategies for your small business also.

If winning more business and making more money is important to you…

If all of this information is a bit overwhelming to you, or you just don’t know how to get started, I suggest that you find someone who can guide you through developing and implementing the Internet marketing strategies for your small business. Find someone who can show you the ropes and teach you what you need to know to be self-sufficient.

Don’t just sign up with anyone who claims to build or host websites, though. Not everyone knows the secret of attraction marketing like I have described for you here. Find someone who understands these concepts and has demonstrated their ability to apply them the way that I have demonstrated it to you when you found this article. 

When you do find someone, the more they know the more costly their time will be.  Look for someone who knows just a little more than you but who isn’t so good at it they charge you a fortune. 

They can show you how to set up your small business marketing strategies on the Internet, or if you don’t have the time to do it, they can do it for you. 

Now you know how to easily win more business and make more money.

Leveraging an Internet marketing strategy will help you with the hardest part of establishing any business relationship. It will help you gain the trust of your potential customers before you have even spoken with them yet. You will be able to attract more customers to you, and the ones you attract are already interested in what you have to offer. After that, all you have to do is offer great service and close the sale. These great small business marketing ideas can give you a leg up on your competitors, and help you grow your small business.   Now you know why it is so important for you develop an Internet marketing strategy for your small business. 

As a customer, I have found that small businesses who provide valuable information to me when I am searching for products or services are much more likely to get my initial inquiry about their products or services.  Businesses who are not on the Internet or who have a replicated brochure website are usually not in the running at all. In fact, I usually forget to even look in the yellow pages. My first stop to search is now the search engines like Google or yahoo. I have implemented these small business marketing strategies in my own consulting business. Now I have customers calling me, instead of me trying to chase them or spending thousands of dollars on ads that don’t bring in anyone. 

Give me a call or shoot me an email and I’d be happy to spend 20 minutes on a free consultation with you to get you started on the right track.