Start & Run an Internet Research Business. Gerhard W. Kautz
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Название: Start & Run an Internet Research Business
Автор: Gerhard W. Kautz
Издательство: Ingram
Жанр: Экономика
Серия: Start & Run Business Series
isbn: 9781770407367
isbn:
Again using the example, the second line has company buyer, baseball, and a basement recreation room construction course. Baseball is probably not a consideration, but company buyer is. More importantly, during the basement recreation room construction course, the instructor may have talked about several new products on the market that applied to house construction in general. So putting together company buyer, house construction, woodworking, and the new products associated with basement recreation room construction, a specialty could emerge. Home building and construction companies are always on the lookout for new products that will reduce their costs, and make the finished product more attractive to the home buyer. Why not specialize in researching new house construction products for home building and construction companies?
The evaluation process should help you select a specialty. In addition to the data you wrote down and analyzed, you will also have to apply some original thought. As the common saying goes, you might have to “think outside the box.” This process is only a tool to help you focus your thoughts. It is up to you to identify your Internet research business specialization.
6. Changing Your Specialization
As your Internet research business progresses, you may find that your specialization is expanding, or that there is not enough business coming in with your selected specialization. If your specialization is expanding, and your business is as well, let it do so, as long as it makes business sense. However, if you find you are branching out into too many areas, and neglecting business opportunities associated with your defined core specialization, go back to that specialization because it is probably more cost-effective for you.
If you find that there is not enough business coming in with your chosen specialization, review your marketing and sales efforts. This is often the downfall of a business; insufficient or ineffective marketing and sales. You have to put a lot of time and effort into it to establish and continue business. Make sure you are doing so before you make any radical changes.
If you think you are doing adequate marketing and sales, but the business is just not there, you could be right to change your specialization. Review your business plan, particularly the sections on defining the business opportunity and determining what should be your market share. You will now have a better estimate of the numbers involved, which will enable you to redo your business plan. If the newly worked results confirm that there is not sufficient business in the specialization you have chosen, you obviously have to make some changes.
To change your specialization, go back and look at the work you did to make your initial selection. If you see some glaring omissions, add them to your experience evaluation table, and do a re-evaluation. Maybe this will lead to a specialization change. If there are no omissions, look at the second or third tier of options you may have in your experience evaluation table. If you see a possibility, write a new business plan based on it. If the results of the business planning are positive, go for it. Just remember, be flexible, but also be rational.
3
Your Business Model
1. What Is a Business Model?
Basically, the business model is how you will make money. There are many academic definitions and dissertations of the business model, but for your purpose, it is a model or procedure detailing how you will make money in the Internet research business. Do not confuse the business model with the business plan, which is covered in Chapter 12. The business plan contains elements of the business model, but it deals with a broader business perspective including how you will finance and grow your business.
You should develop a business model for a number of reasons. The main reason is to make you think about how you will actually do the business. Another reason is that as you write down the way you will work, you will probably think of more aspects of doing the business. Once you have developed your business model, and are working it, it will help you to stay focused on what you are doing.
The following sections explain what should go into your business model. The examples used in each section of this chapter relate to a fictitious lawyer background information service.
2. The Business Opportunity
Academics call this first step in the business model the Value Proposition. This is the area in which you define what you think might be the client’s problem that he or she wants solved. Then you explain how you will solve the problem for him or her. You also want to identify what the value of your problem solution is to the client. This will confirm the viability of your business, and the points you identify here will also be useful in your marketing and sales.
Example
As a court reporter, Ms. B noticed that quite often lawyers needed background information on side issues of a case, such as what the weather was like on the day of the incident under trial, the statistical number of similar incidents that take place in the defendant’s occupation, etc. The lawyers have to get this information from somewhere, and Ms. B figured she could do it for them very cost-effectively.
3. What Is Your Market?
You need to identify what or who your market is, where it is, and how big it is. First you have to carefully define who would want your services so you don’t waste your time and resources going after the wrong companies or people. Client definition (defining your target market) is very important because it will be the basis for most of your other business activities, such as marketing. Be prepared to give it considerable thought.
Next you want to identify where your potential clients are. Are you going to target clients in your city, in several cities, or in the whole country? Your thought process will also have to involve the size of the market. You will want to cover a wide enough area to ensure you have sufficient potential clients, but you don’t want to overdo it and bite off more than you can chew.
Here is where you use your Internet research skills to find the information you need for yourself. Using your defined description of your potential clients, find out how many of them there are in a particular area. For example, if you are targeting electronics manufacturing companies, do an Internet search for electronics manufacturers plus the initial area you are considering. As the various websites listing these companies come up, scrutinize them to make sure they are the ones you want, and start counting. Then expand your search as you require. Keep a record of the sites with the company information because you will need that information later for your marketing activities.
Example
Ms. B defined her potential clients simply as lawyers. She then did an Internet search for lawyers plus her city. Several sites came up, but the Yellow Pages site listed what appeared to be all of them. She simply counted those listed. She also went to the Internet site of the law society covering her jurisdiction, and estimated the number of lawyers listed there. She determined that her client base was somewhere around these two numbers.
4. Your Marketing Procedure
Marketing is the way you promote your business to prospective customers. You cannot have a successful business without some form of marketing. СКАЧАТЬ