 |
Making Money Online Should Not Be That Hard
Author: Bret Plummer  | Posted: 24-01-2008 | Comments: 0 | Views: 17 | Rating: (50)  (?) 
How many people do you know who are struggling with an online business? Are you one of them?
According to Internet World Stats there are more than 1.1 billion people currently online, around the world in 233 individual countries. Depending on where you get your information, global Internet sales exceeded $200 billion for the first time in 2006.
If you have started your own online business and you have yet to make your first sale or you are still struggling to find your first $1,000 in revenues, you might be asking yourself, "Why not me? Why can't I cash in on this Internet commerce stuff?"
The answer to that question could very well be that you have been given bad information, and you are fighting an uphill battle that cannot be won on your present course of action.
Take for example the person who was talked into spending $2-$10,000 to have an online shopping mall designed and built for them, full of electronic products that are available for resale. How many other people have bought into the same package as he has?
We took a quick run on Google with the keyword search:
"playstation 3" ps3 console "buy now"
Google shows 45,800 pages offering the Playstation 3, with the option to "Buy Now".
Focus On The Positive
We bet the online mall seller did not share that short bit of information with the person who purchased their first online shopping mall.
We also bet that the shopping mall seller was very wise to share only the advantages of having your own online shopping mall:
* Access to 10,000 of the hottest electronic products available on the Internet today;
* Customizable website layout;
* Customizable product selection;
* Set your own prices;
* Built-in shopping cart to process purchases;
* Your own merchant account;
* Profits sent straight to your bank account;
* Your own domain name;
* Search Engine friendly interface; and
* Information about how to promote your shopping mall.
That last bit might be a bit on the short side, and more importantly, it is probably the standard information package given to one thousand other "merchants" who bought the same shopping mall package.
What The Shopping Mall Owner Was Not Told
What the shopping mall seller forgot to tell their customers is that there are 45,000 other places online for people to buy the same electronic products.
They also forgot to mention that "search engine friendly" and "search engine optimized" are two entirely different concepts. "Search engine friendly" simply means that the shopping mall seller made a website whose code can be read by the search engines, and that the shopping mall seller really does not know what it means to be "search engine optimized."
Shopping mall owners frequently do not know that 1.4% of all online transactions in 2006 were estimated to be fraudulent, according to eMarketer.com
New shopping mall owners also do not know that most online shopping malls are still struggling for their first customers.
Pricing Pressures
The shopping mall seller may have also forgot to mention that there are websites on the Internet whose only purpose is to permit online shoppers to select a store based on the lowest price on a particular product and the amount of stock on hand. Here are some examples:
* PriceGrabber.com
* NexTag.com
* mySimon.com
* PriceRunner.com
As long as consumers know about these kinds of websites, and the dozen or so just like them, then consumers will be buying their electronic products, based solely on price.
We are consumers; we did it. When we needed some new monitors for the office, we shopped using NexTag.com to find the best price with shipping, for the monitors we needed for our office.
Fortunately for most shopping mall owners, if a customer buys from a store once, 33% of those consumers will buy from a store twice.
When we needed another monitor for our growing office, we went back to the website where we bought our first two monitors. The price of the monitors had gone up between our first and second purchase by a sum of $20 each, but we went ahead and stayed with the store where we purchased our first batch of computer monitors.
In Over Their Heads
Shopping mall owners do not realize that they have entered into the toughest market in which to make money online.
They don't know that the biggest Internet retailers have huge brand names behind their stores, such as: Walmart.com, Amazon.com, Overstock.com, Sears.com, and BarnesAndNoble.com.
They have also never been told that that small product shopping websites that do well financially can usually tie most of their sales success to their participation in Ebay and other auction websites.
There Is An Easier Way
We advise our subscribers that if they want to get into a product-driven Internet business that there are two ways to do that.
We advise to either create your own product, or to get involved selling products through Ebay and other auction websites.
We also advise that we don't like an auction business if you are going to turn every spare corner of your house into a storage area for your products. We advise that if you are going to get into an auction-driven business, then you should work with drop-shippers, so that you do not have to buy-and-hold the products that you will be selling.
A drop shipper is a wholesale product supplier who is willing to ship individual orders. Drop shippers typically don't have minimum purchase requirements. Most drop-shippers will also address the package to the end-consumer, and they will label the return shipping address with the name of the retailer who bought the product from them.
Fortunately for our subscribers, we discovered in our research that there is a company who has been Ebay-certified to drop-ship products for Ebay sellers. We recommend this type of service highly.
Rate this Article:
Current: 0 / 5 stars - 0 vote(s).
Article Source: http://www.articlesbase.com/business-articles/making-money-online-should-not-be-that-hard-314107.html
|
Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free! |
|
Got a Question? Ask.
Ask the community a question about this article:
Frequently Asked Questions
How do I do set items in Xcart where items hidden ...
By: EzShip | 27-09-2008
How do I do set items in Xcart where items hidden but available for sale, so you still have drop downs to purchase.
If I purchase a new boat in North Carolin and I ...
By: Grant | 27-09-2008
If I purchase a new boat in North Carolin and I pay the North Carolina sales tax on boats at their rate of 3% and I then register the boat in Georgia for use in Georgia (I am a resident of Georgia), will I have to pay any Georgia sales tax?
Corporate Hierarchy Go Over the bosses Head?
By: coachpauline | 26-09-2008
I was hired at a financial services company 8 months ago. As a commission based sales person my compensation plan including a $25,000 salary was based on selling a product where my 1st yr earnings were projected to be between $100,000 &150,000 depending on my skill. The marketing that I was promised didn't materialize, the Sr. Vp who hired me left a new VP came in and the focus of my division changed to selling a product where the money to be made by a sales rep is alot less, so the new people who have come in have been hired at a higher salary and a higher commission. Everyone else from the old regime has been fired or left. I asked to be brought up to par with the new workers, especially since I am by far the top performer. I kept being put off, told that a newer, even better permanent compensation plan would be put in place as soon as a new Sr Vp arrivedand they dont want to change my comp plan twice. The New Exec Vp Is here-This newer, better comp plan was supposed to happen for the last 2 months-now I've been told it wont be until Jan. At an evaluation I was told I am an outstanding performer, I will be up for a promotion when a management position opens up in my division etc. Meanwhile my sales #'s are always #1 or #2(only ever beaten by my supervisor who has years of experience) while taking time out of my sales day to bring new people up to speed, who are on a better comp plan and at this comp plan I will be lucky to earn $50,000. My boss keeps putting me off until this newer comp plan goes into effect, but I cant afford to be producing results and not earning for another 3 months. SHOULD I GO OVER MY BOSSES HEAD AND EMAIL HIS BOSS W/ MY DILEMMAAND CC MY BOSS OR WRITE MY BOSS AND CC HIS BOSS?My bosses boss has the ultimate decision making power. I feel like I have some leverage right now that I may not have down the road. I am close to closing a huge deal for them that will be the largest in their portfolio. I have never worked in a corporate environment before-was a business owner so don't really know how this stuff works, but I am getting pretty fed up. Also I am going to be sharing my leads with all these new people and at this comp plan my sales will certainly drop. I will not go out and bring in more business from relationships that I have made over the years if I am not paid what I am worth and at that point I will have no leverage.
Bill Blass Stretch Corduroy Slacks
By: Micki | 26-09-2008
Now that Strawbridges is no longer around, who sells Bill Blass corduroy slacks?
Brighton beach brooklyn shops
By: Marian levy | 26-09-2008
Brighton beach brooklyn shopping for women's clothing. Any suggestions for quality european clothes. Is shopping available on sunday as well?
Where can i purchase retro style lacy satin ...
By: satinslipwhore | 26-09-2008
where can i purchase retro style lacy satin lingerie?
Q&A Powered by: 
Latest Business Articles
Starting Up Your New Business in Tough Economic Times
By: Susan L Reid | 13/10/2008
Credit lockdown and a gloomy economy are putting a squeeze on small businesses, but don't rule out starting yours up. Instead, get creative. Put together a cost-friendly start-up by thinking beyond traditional ways of purchasing office equipment and supplies, steering clear of money-draining investments, and researching diligently. Check out these 8 tips to start up your business outside the traditional way of doing things.
Ebay Auction Search Secrets: Get An Unfair Advantage Over Your Competition With These Secrets
By: Brad Traynham | 13/10/2008
It is not easy making a living on eBay. It requires you to sell almost all of the items you list on eBay. The easiest way to do this is get more quality traffic to your auctions. The more traffic to your auction, the more bids you will get...
Self-Dumping Hopper Attachment For Forklifts
By: Camille Howe | 13/10/2008
Self dumping hoppers are designed to fit both standard mast and extendable reach forklifts. Each unit features a pocket base that can accommodate forks up to 10" wide and 2 ½" thick. Easy Rack self-dumping hoppers are construction grade devices designed to withstand continual wear and tear in a fast-paced,...
Warehouse Industrial Jib Boom Fork Truck Attachment
By: Camille Howe | 13/10/2008
Forklift jib boom attachments are much less expensive than jib cranes and can perform almost all of the same tasks at a fraction of the cost and with less heavy equipment on premises. Forklift jibs allow you to reach over obstructions to place heavy loads on roofs, elevated platforms, and...
Getting Unstuck: Tips for Overcoming "decision Gridlock"
By: Adele Sommers | 13/10/2008
Have you ever felt so stymied by your choices that every time you stared down at your "chessboard of life," you weren't sure where you could possibly make a move? Whether that feeling of being "stuck" relates to your business, personal matters, or both, it can serve to encumber your progress. This article discusses two patterns of "decision gridlock," and what to do about them.
Leadership Lessons From the Kings of Chocolate
By: Denise Ryan | 13/10/2008
Leaderships tips from two great businessmen, Milton Hershey and Forrest Mars.
Why Some Franchise Businesses Fail
By: Matthew Franchise Anderson | 13/10/2008
The concept of franchising is in itself a sound business idea. Many have become rich because of it. However, not all franchise businesses become a success story. There are several factors that may contribute to the problem.
Some franchise units, although parented by large corporations, failed to make the mark due...
Mistakes New Entrepreneurs Should Avoid When Starting A Home Based Business
By: Kanaga Siva | 13/10/2008
Success and Failure are part and parcel of life. Success in a Home Based Business can never be guaranteed by anyone. Many factors come into play if success has to be achieved. When starting a home based business it is wise to act smart and learn from the mistakes other...
|
|
Business 
