Web site not working? Points to Ponder _Part two

During the early days (1994) of the Internet one could enter a broad product or service category and meet with some success. Today however, the Internet has become awash with cash and dotcom companies. Big money is being spent on advertising budgets, elaborate web sites, and there's generous sources of venture capital.

You can't compete with them and their targeted larger markets, but you can compete at your own level and your specific expertise. Make a list of your particular skills, your interest, and your passions. Big companies may try niche markets but if they don't make big money they quickly leave. A small entrepreneur who is knowledgeable and passionate about his / her interests can succeed. One such niche, originally a hobby, and now a full time Internet business is www.modelexpress.net. His interest is scale car models, die cast metal car and truck models, and related products. He is the only business man who I know who has shipped his products to all continents, including the Antarctic.

According to the Adventive multimedia marketing group: "It's very powerful to be motivated by forces other than money. It gives you awesome tenacity that those chasing money don't have. It gives you the discipline to give up a quick buck today in return for furthering a relationship that will yield greater rewards over the long-term." Make your company/service real: Have your physical address, and contact information on every page. Prepare a section "about us" Introduce the staff of your company with pictures and bios. Make use of a personal welcome letter with your scanned signature. Use customer testimonials from satisfied people who have used your service in the past.

A good idea for a web site is only a start:

The value od a good idea is its effective use. You need to develop the idea, work with it, and be prepared to spend time on your new web site, change it regularly and attend to all e-mail inquiries. No one is going to steal your idea. The winners are too busy implementing their own ideas to steal yours; while the losers believe implementation takes too much effort. A good idea by itself is of little value, but a good idea that has been implemented, developed and nurtured is of great value.

Build a 3-Legged Stool

The three fundamental ways you receive compensation for your business efforts are: 1) generate current income, 2) Build equity , 3) increases income and builds cash flow with leverage & scale ability . Generate income : This is self explanatory. Can the idea generate enough income to make your web site worthwhile? Will it provide you with new customers? Are you prepared to accommodate the extra business? Is it possible for potential customers to contact you; either through e-mail, fax, or phone? Build equity: Will the web site build or enhance your business reputation? Will it enhance your personal relationship with your clients?

Establish leverage and scale ability : Leverage is the ability to do something once and get paid for it many times. Microsoft is a good example its software continues to be widely accepted throughout the world. Each "new edition" of the windows operating system offers more bells and whistles at additional cost to the customers. Scale ability is the ability to produce more and more widgets without a concomitant increase in costs. The difficulty becomes apparent when it requires more and more effort to continue to build new client relationships.

Look at ways to incorporate the three principles in your web site. There is only one of you and you work hard so it pays to build a web site that compensates you for your efforts.