Business Ideas

Archive for January, 2011

Top Reasons For Small Businesses To Have A Web Presence

Should a small business have web presence? Perhaps some quick facts should convince you that your small business needs a website. The Internet has more than a billion surfers every day and the purchases and payments done over the Internet each year crosses the 200 billion mark worldwide. Not a small amount at stake considering the overall cost of Internet Marketing. Need more answers? Please read on.

Top Reasons for Small Businesses to Have A Web Presence

Here are the top reasons why you must not ignore having a web presence for your small business:

1.Immediate Access To The Largest Customer Base: The Internet shows yourwebsite to whoever requests it. With about a billion surfers online at any given time having a web site clearly announces your business to all of them at the same cost that you would incur for a far less number offline. With high visitor turnout you need not worry about conversion rates at least initially.

2.Lower Marketing Costs: All you need to do to market your site is optimize it for the search engines before submitting it to them. Search engines are the biggest source of traffic to websites. Top rankings are sure to boost visitors to your site thereby reducing your need for further expenditures.

3.No Need To Have Showrooms Offices And Inventory Etc: Save big on real estate office purchases and recurring costs due to them. You don’t need to keep inventory or merchandise. Purchase and sell as you receive orders. This conserves your crucial cash for better utilization.

4.No Sales Staff Required: Sales are automated; hence no sales staff is required. Your web presentation and online payment solutions are enough to make sales as long as your sales message gets across effectively. So you will save big on salaries and other employeerelated expenses. You will also save yourself the headache of managing personnel.

5.You Enjoy The Same Opportunity As The Biggest Player: The Internet like time is a great field leveler. It treats all sellers the same. You can enjoy the same kind of opportunities as that of larger companies as long as getting the right customers to your website. How you make sales is up to you.

6.Your Competitors Already Have Plans For A Website: Who is actually your competitor? If you thought it was a company in your city or town you may want to rethink that belief. Your main competitor could be any company across the globe until you start localizing and target marketing. If you don’t have a web presence know that someone somewhere is walking away with your customers.

7.Generate Side Income To Compliment Your Main Revenue Stream: You can partner with global ad content providers for both content as well as additional income opportunities. There are a variety of such programs that pay very well. The most popular ones are text ads PayPerClick ads and affiliate programs.

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Tips To Prepare For Your First Chinese Negotiation

You are set to enter the Chinese market are done with your market research and now is the time to meet your potential Chinese business partners. However before meeting them you should familiarize yourself with some negotiation tactics and knowledge to secure yourself a higher chance of success.

If you do not understand Mandarin engage a good interpreter to ensure your message is conveyed accurately and you do not misinterpret any of their messages. You should expect your interpreter to be familiar with your industry work and to be familiar with both your native language and the Chinese language industry jargons. Remember to provide your interpreter the relevant information that is required for him to effectively execute his task. If possible before each meeting spend some time to discuss with your interpreter what you want to achieve out of the negotiations.

As a foreign business entering the Chinese market it will be advantageous for you to make things as convenient as possible for the local partners. For instance if you have any information which you might want your potential partners to understand remember to translate it into Chinese for their convenience and that also includes your name cards.

For a start you may consider recording the meeting conversations either openly or secretly. Though it might be an ethical taboo in your culture it does have the advantages of helping you or the interpreter to recall any information that was missed out in the meetings.

Leverage on your interpreter to pick up simple Chinese to be used in meetings. It can be a good ice breaker or a good closing. Words like Thank you How are you? Welcome Please to meet you or even some candid phases like You are handsome or pretty! can be used to create a good impression.

Since this is the first meeting in person some of the discussions may be held over lunch or even a tea drinking session. Therefore using the chopsticks effectively or some simple tea knowledge can help to improve their impressions on you.

Sometimes you may find your potential partners reacting negatively during the meetings. Do not be alarmed it may be that some Chinese depending on their provincial lingo may converse much louder along with hand movements. Do clarify with your interpreter.

Depending on the level of communication before the first meeting you may find yourself not moving forward much in terms of business discussions. Do not feel discouraged as Chinese believes in consensual decision making and may need to report to their superiors on the findings before any decisions can be made. Furthermore to do business with the Chinese Guan Xi or relationship is also important. Thus this relationship needs to be built over time and cannot possibly be of immediate effect after the first meeting.

Thus you must be prepared to make subsequent return visits to finalize the details and to build up the Guan Xi. Do not hasten to send emails after the meeting to finalize the details as it may be misrepresented as the potential partners having the bargaining power. It is alright to return to your home country and then decide how you should play your cards in choosing the right partners. However if your firm is prepared to make substantial investments into China a local representative office will be of a long term benefit to aid your firm in facilitating business operations.

As a foreign business you may also be a part of their Mian Zi or face building. Therefore photo taking with these partners can help to provide a testimonial to Chinese small medium companies to show their counterparts that their firm is of value to foreign partners. In addition you can request your interpreter for written meeting minutes but do let him or her know in advance of this request so they can prepare for it.

Lastly if you are not confident in entering the Chinese market or to source for the right Chinese partners a good Chinese market research firms should be to support you to perform the market research arranging your China business trips interpretation services and lastly market entry into China.

About the writer:  Desmond Wang is a consultant of Starmass International. Starmass provides professional consulting services to assist foreign companies in China market entry China market research competitor study and China market analysis till export to China. Visit more business resources at: www.starmass.com

Tips To Be Used At Networking Functions

Business networking events have been a part of the business and personal life depending upon your concern. For some people going to these events is a fun just like going to dentist. For some networking functions are pleasant but because of the people with whom they spend time they wish they had gone for a trip to their doctor instead.

But regardless of your condition when going for such events it is of critical significance to have the aim or purpose of providing help and support to others first. Unluckily it is an old formula that is usually not kept in mind at all. But this time when you plan to go for such an event consider this simple useful formula: after helping others and providing them the support you earn the right esteem honor and freedom to have a meeting again. It is not an assurance to sell yourself but a vacancy to make bonds with people.

Arrive at the event at time and dont be late. After arriving avoid sticking to the persons you already know. You should first thank the host and then quickly look for someone new to commence a talk with. This will help you remember the right purpose for being here in the event.

When you meet someone for the first time stop selling you. Rather first ask them for introduction and ask questions about them. Show your interest in them and make them feel important. First meeting is a good chance for you to start a new relationship. So dont start selling yourself but try to develop the foundations of a relation.

Your business cards should be with you. in easily accessible pockets.

While giving or taking a business card from someone give it a personal touch by writing your personal contact number or mobile number on it. It will make the recipient feel special and important.

While taking or giving business cards be careful and cautious about the culture of the recipient. Mold your etiquettes and words accordingly.

Similarly while taking a business card from someone write something on it like the time date or place of meeting. Doing this during the conversation shows your deep interest and willingness to continue the relation.

During conversation at an initial meeting use their first names several times. Firstly people like to be called by their names. Secondly it will help you to remember the person later on.

Instead of telling about yourself volunteer in learning about the other person. Ask questions about them. It will make you learn a lot.

After the first meeting write a note about something you learned from the person on the backside of the card. This info will help you to have some topic to talk about next time.

Show your attention by tilting your head during the conversation. It shows that you listen to them with interest.

Make an eye contact while talking to someone. Look directly at the next person to show your full attention.

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