Brick and mortar businesses are slowly becoming a thing of the past with high rental costs, overhead and insurance as well as the inconvenience of having to drive to work each day. The internet has opened a gateway to so many budding entrepreneurs who may have not otherwise been able to afford to start a small business as internet entrepreneur.
This means there are hundreds of thousands of small businesses (if not more!) worldwide which are operating through the use of the internet. Not all are successful and barely get off the ground. However, with these helpful tips and ideas, yours could generate an ongoing income.
Save on Shipping Your Product
If you are not aware of shipping standards, expectations and methods, you could be wasting precious financial resources shipping your products around the globe. It is important to find the most cost-effective way to ship your goods and if you can do so with as little hassle as possible that is an added bonus.
There are services such as e-shipper.com, who will find the best possible shipping rate and even send you online shipping labels to print out on your end to affix to your packages. You need to know very little about shipping in order to send out the product and you still save money since they are not affiliated with any one carrier.
Maximize Your Exposure
The power of social media should not be downplayed. As soon as you are up and running, get yourself a Facebook page. Your clients will be looking for you. This outlet allows potential clients to investigate where they are making a purchase from before ordering.
You want your clientele to feel safe and secure in their online purchases, therefore you will need to expose your business, so to speak, over as many social media outlets as possible. Make a point to keep those pages up to date with daily quotes, blogs, or even specials you might be running.
Stay Organized and On-Task
For the internet entrepreneur, it is very easy to get distracted if your business is being operated from your home office. You should always have a daily schedule written out, and follow it as closely as possible. That means, f you schedule yourself to work from 9 to 3, stick to that instead of maybe grabbing a power nap around 1 o’clock and then running short on time.
By sticking to your schedules, you can also fit in important appointments where needed without guilt and book days off for yourself as needed. Your customers will also appreciate your availability and consistency.
Accounting, Accounting, Accounting!
Although keeping books may not be your forte, it is detrimental to the success of your business to keep great financial records. Not only should you be saving receipts and logging them, but you should also keep track of your expenses and revenue in a separate workbook or accounting program. Ensure your business and personal expenses stay separate.
Always file your taxes on time and properly to avoid penalties and overdue fees if you do owe money. You will also want to make sure you are getting paid for your work, which comes from the revenue of your Internet business as an internet entrepreneur.
The best way to have peace of mind about your finances is to hire a bookkeeper to take care of these tasks since they will know the ins and outs as well as legal requirements and obligations of a business. This may cost your business some money, however, in the long term, you save yourself the headache of all the administrative work involved and your business is compliant with all tax laws etc.
Although these may seem like simple, “no-brainer tips”, many entrepreneurs forget the little details (with the exception of accounting since you can’t exactly ignore that need!). But with diligence and a little preliminary legwork to put new practices and schedules in place, your business will be running smoothly and you can focus on those profits!