The Person You Will Be In The Future Is Based On Everything You Do Today.

Use This Phone You're Pressing Now To Take Advantage Of The Internet And Make It In Life

hand with a phone infront of tiny grid faces
The internet - a vast network linking smaller computer networks - has revolutionized commerce by bringing people from all over the globe. Many of its features can be used to shape a new business.



Before I proceed I am going to list the top 10 social media platforms every marketer should know for networking, top 10 social media platforms that helps you promote your business and top 10 social media platforms that helps you to share your products with a wide range of people.

Never underestimate the power of these social media platforms because they are the places where you can get your business going. That is after choosing a product and a market that you want to promote using any of them.


TOP 10 SOCIAL MEDIA PLATFORMS EVERY MARKETER SHOULD KNOW FOR NETWORKING


  • Facebook
  • Google+
  • LinkedIn
  • Blab
  • hi5
  • MyLife
  • Ning
  • Periscope
  • Plaxo
  • Twitter

TOP 10 SOCIAL MEDIA PLATFORMS THAT HELP YOU PROMOTE

  • Google
  • Yahoo
  • YouTube
  • Facebook
  • Flickr
  • Howcast
  • iTunes
  • MySpace
  • Vimeo
  • Blogging platforms

TOP 10 SOCIAL MEDIA PLATFORMS THAT HELP YOU SHARE

  • Facebook
  • Buffer
  • Delicious
  • Digg
  • HootSuit
  • Instagram
  • Pinterest
  • Quora
  • Reddit
  • StumpleUpon

Knowing all these social media platforms is the step one and the step two is to choose a product and a market. Written below is a help on how to choose a product and a market.



CHOOSING A PRODUCT AND A MARKET

A prospective entrepreneur needs to come up with a good idea. This will serve as the foundation of the new venture. Sometimes an entrepreneur sees a market need. Other times an entrepreneur gets an idea for a product or service and tries to find a market for it.


A Scottish engineer working at General Electric created putty that bounces but had no use for it. In the hands of a creative entrepreneur, it became a toy, "Silly Putty" with an enthusiast market: Children.


The idea doesn't have to be revolutionary. Research, timing, and a little luck transform commonplace ideas into successful businesses. In 1971, Chuck Burkett launched a firm to make an ordinary product, novelty key chains. But when he got a contract with a new venture in Florida - Disney World - he started making Mickey Mouse key chains, and achieved tremendous success.


There are many ways to look for ideas. Read a lot, talk to people, and consider questions such as: What limitations exist in current products and services? What would you like that is not available? Are there other uses for a new technology? What are innovative ways to use or to provide existing products?

In Australia in 1996, two entrepreneurs founded Aussie Pet Mobile Inc. to bring pet bathing and grooming to busy people's home. It is now a top U.S franchise business. Is society changing? What groups have unfulfilled needs? What about people's perceptions? Growing demand for healthy snacks created many business opportunities in the United States of America, for example. Business ideas usually fit into one of four categories that were described by H. Igor Ansoff in the Harvard Business Review in 1957:


  • An existing good or service for an existing market
This is a difficult approach for a start-up operation. It means winning over customers through merchandising appeal, advertising etc. Entry costs are high, and profit is uncertain.


  • A new good or service for a new market
This is the riskiest strategy for a new firm because both the product and the market are unknown. It requires the most research and planning. If successful, however, it has the most potential for a new business and can be extremely profitable.


  • A new good or service for an existing market
Often this is expanded to include modified goods/services. For example, entrepreneurial greeting-card makers use edgy humor and types of messages not produced by Hallmark or American Greetings - the major greeting-card makers - to compete in an existing market.


  • An existing good or service for a new market
The new market could be a different country, region, or market niche. Entrepreneurs who provide goods/services at customers' home or offices, or who sell them on the internet, are also targeting a new market - people who don't like shopping or are too busy to do so.

The last two categories have moderate risk, but product and market research can reduce it. They also offer opportunities for utilizing effective start-up strategies - innovation, differentiation, and market specification.



GRADUALLY TAKING ADVANTAGE OF THE INTERNET TO SET UP A BUSINESS


  • COMMUNICATIONS
An entrepreneur must communicate with many people-suppliers, distributors, and customers, for example. A quick and relatively inexpensive way to send letters, reports, photographs, etc. to each other Internet users is with electronic mail or "e-mail". E-mail can be used even for marketing. Various forms of computer software are available to protect documents form unathorized access or alteration so that they can be securely shared and easily authenticated.


  • RESEARCH
Starting a business takes a lot of research. An entrepreneur can find information on almost any subject very rapidly by using the Internet's World Wide Web. (The Web is a collection of text and multimedia documents linked to create a huge electronic library) . Many government agencies, universities, organizations, and business provide information on the internet, usually at no cost.


The easiest way to find information on the Web is by using a search engine - a data retrieval system. The user types keywords for a subject on the computer, clicks on the enter button, and receives a list of materials - often within seconds. The items are linked electronically to the actual documents so that internet users can read them on their computer screens. Among the most popular search engines are Google, Bing, Yahoo, Ask, MyWebSearch, AOL Searchetc.


  • PROMOTION
Websites, pages of print and visual information that are linked together electronically, offer an opportunity for entrepreneurs to introduce a new business and its products and/or services to a huge audience. In general, websites can be created and updated more quickly and inexpensively than printed promotional materials. Moreover, they run continuously! To create a website for her business, the entrepreneur can hire a firm to create one or purchase computer software to create it on her own. Many universities offer courses thaat teach how to build a website.

Also, a website needs a name and an address just like the normal physical address used for posting letters. On the internet, two are usually the same. Website names and addresses must be registered. http://www.internic.net/ is a website that lists registrars by country and language used. The address of the online business is expressed as a Uniform Resource Locator (URL). It usually ends in dot com (.com), which indicates a "commercial" site. Dot net (.net), an alternate ending; is often used when a specific website name ending in .com has already been registered by another firm.


Good business website names are easy to remember and evoke the firm and its products and services. The entrepreneur also needs a piece of property in cyberspace, where her website will reside. Many commercial "hosting services", called Internet Service Providers (ISPs), rent on their large computers (called servers) for a small monthly or annual fee.


  • WEBSITE PROMOTION IS CRITICAL
A website address can be put on business cards, stationery, brochures - anything having to do with a new firm. Or, an entrepreneur can pay to place a colorful advertisement on non-competitive websites, such as ones for complementary products. Advertising banners usually link back to the advertised firm's website. Entrepreneurs also can provide information about their websites to well-known internet search engines. For a fee, most search engines will promote a website when a selected set of search terms are used. Online shoppers, for instance, often use search engines to find businesses that provide specific products and services.


  • SAFE USE
Just as shopkeepers lock their storefronts, entrepreneurs who use the Internet need to take steps to keep their computer systems safe from the potential hazards of security breaches and viruses. One of the most effective steps is installing security softwares. Another is setting up an Internet firewall to screen and block undesired traffic between a computer network and the internet.


A technology consultant on contract can install these and other computer defenses. There is a lot of information about computer safety available online and often for free. For example, the National Cyber Security Aliance (http://www.staysafeonline.org) is an organization that is devoted to raising internet security awareness, offers educational materials and other resources.

As Julian E. Lange, associate professor of entrepreneurship at Babson College, he said, "For creative entrepreneurs with limited resources, the Internet offers significant opportunities to build a new business and enhance existing enterprises". New businesses will develop solutions to enhance the internet user's experience. Existing business will take advantage of myriad Internet applications - from customer service to order processing to investor relations. Lange suggests that, for many entrepreneurs, the challenges posed by the internet are "opportunities to delight customers and create exciting entrepreneurial ventures".


  • SELLING ONLINE
Many entrepreneurs sell goods or services on the Internet. Why? The Internet provides access to a large and growing market. Approximately 627 million people were shopping online worldwide in 2005, according to ACNielson, a global information-making company. By selling on the internet, a neighborhood shop or home-based firm can reach a national or even international group of potential customers. When entrepreneurs sell online, they are on a more playing field with larger competitors.


There are cost to Internet selling, certainly. But the price of creating and managing a website has dropped, and the number of website design and management companies have grown. In fact, some entrepreneurs find it less costly to run an Internet store than to hire a large sales force and maintain one or more bricks and mortar - or actual - stores.


Some businesses - books, airline travel, and the stock market, for example - have been transformed by their success in online sales. Others, such as amusement parks, bowling alleys, or utility companies, may not at first seem well suited to the internet. But a website also can be used for selling tickets, offering discounts, or letting customers make payments over the Internet.


TO START AN ONLINE BUSINESS, AN ENTREPRENEUR MUST:

  • Register a domain name - an Internet name and address.

  • Purchase a server or contract with an Internet service provider to host the website. Buy Internet software to create a website or hire an expert to do so. Design an attractive and easy-to-navigate online store.

  • Create an online catalog. Provide clearly written information, without technical language or jargon. Use lots of photos to encourage potential customers to buy. Include clear instructions to order by phone or online.

  • Establish a payment method. Some companies bill a customer before or after shipping merchandise. This may cause payment delays. However, another option is to have customers use credit or debit cards online. A business can get a bank-authorized transaction-processing account (merchant account) for handling the revenue (and fees) from credit cards online. Alternatively, it is possible to hire an online payment service such as wordplay to handle these transactions.

  • Make the website secure, especially to protect protect customers' financial information. Hiring a technology expert is time and money well spent as compared to the potential risk of security violations.

  • Establish a policy for shopping. Options include letting the business absorb the cost (no charge), including costs in the listed prices, or explicitly listing shipping charges. Customers should never be surprised at the end of a transaction with shipping costs. Customers may cancel the sale.

  • Offer customers an e-mail address or phone number for complaints, suggestions, or compliments, and respond to them. This can boast customer loyalty.


After creating an online store, there is still much to do. An entrepreneur needs to attract potential customers. There are many ways to advertise a website. One is to print a web address on business receipts, letterhead, newsletters, and other materials. Another is to contact search engines like Google and Yahoo, use key subject words in the website design so that search-engine users are directed to the entrepreneur's website.


For example, a restaurant specializing in food from Afghanistan might include the key words and phrases "Afghan cuisine", "traditional recipes", "contemporary cooking", "bulani", "hummus", "korma", "kabobs", "kofta", "lamb", "ashwak", "steamed dumplings", and others like these.


  • MARKETING PLAN
Once the entrepreneur has gathered all the necessary information, he or she sit down to prepare the marketing plan. The marketing plan represent a significant element in the business plan for a new venture. Primarily, the marketing plan establishes how an entrepreneur will effectively compete and operate in the market place and thus meet the business goals and objectives of the new venture.


The marketing plan like any other type of plan, may be compared to a road map used to guide a traveler. It is designed to provide answers to three basic questions; where have we been? Where do we want to go? And how do we get there? The answers to these questions are generally determined from the marketing research carried out before planning. Thus marketing plan is a guide for implementing marketing decision making and not a generalized superficial document.



CHARACTERISTICS OF MARKETING PLAN

The marketing plan should be designed to meet certain criteria. Some important characteristics that must be incorporated in an effective marketing plan are as follows:


  • It should provide a strategy for accomplishing the company mission and goal

  • It should be based on facts and valid assumptions. It must provide for the use of existing resources. Allocation of all equipment, financial resources and human resources must be described.

  • An appropriate organization must be described to implement the marketing plan.

  • It should provide for continuity so that each annual marketing plan can build on it successfully meeting long-term goals and objectives.

  • It should be simple and short, as a voluminous plan may be placed in a desk drawer and likely never used. However, the plan should not be so short that details on how to accomplish a goal are not excluded.

  • The success of a plan may depend on its flexibility.

  • It should specify performance criteria that will be monitored and controlled.

It is clear from the preceding discussion that the marketing plan is not intended to be written and then put aside. It is intended to be a valuable document that is referred to often and guidelines for the entrepreneur during the next time period. Since the term marketing plan denotes the significance of marketing, it is important to understand the marketing system.

MARKETING SYSTEM

The marketing system identifies the major interaction components, both internal and external to the firm that enables the firm to successfully provide products and/or services to the market place.


In addition to the external environmental factors, there are internal environmental factors which, although more controllable by the entrepreneur, can also affect the preparation of the marketing plan and implementation of an effective marketing strategy. Some of the major internal variables are as follows:


  • FINANCIAL RESOURCES
The financial plan should outline the financial needs for the new venture. Any marketing plan or strategy should consider the availability of financial resources as well as the amount of funds needed to meet the goals and objectives stated in the plan.


  • MANAGEMENT TEAM
It is extremely important in any organization to make appropriate assignments of responsibility for the implementation of the marketing plan. In some cases the availability of certain expertise may be uncontrollable. In any event the entrepreneur must build an effective management team and assign the responsibilities to implement the marketing plan.


  • SUPPLIERS
The suppliers used are generally based on a number of factors such as price, delivery time, quality and management assistance. In some cases where raw materials are scarce or there are only a few suppliers of a particular raw material or part, the entrepreneur has little control over the decision. It is important to incorporate these factors into the marketing plan.


  • COMPANY MISSION
The mission basically describes the nature of the business and what the entrepreneur hopes to accomplish with the business. This mission statement will guide the firm through long-term decision making.



IN CONCLUSION

Most economists agree that entrepreneurship is essential to the vitality of any economy, developed or developing. Entrepreneurs create new business, generating jobs for themselves and those who they employ. In many cases, entrepreneurial activity increases competition and, with technological or operational changes, it can increase productivity as well.


In the United States of America for example, small businesses provide approximately 75 percent of the net new jobs added to the American economy each year and present over 99 percent of all U.S employers. The small businesses in the United States of America are often ones created by self-employed entrepreneurs. Entrepreneurs give security to other people; they are the generators of social welfare.


The benefits of small business go beyond income. Small businesses broaden the case of participation in society, create jobs, decentralize economic power, and give people a stake in the future. Entrepreneurs innovate and innovation is a central ingredient economic growth. As Peter Drucker said, "The entrepreneur always searches for change, respond to it, and exploits it as an opportunity". Entrepreneurs are responsible for the commercial introduction of many new products and services, and for opening new markets. A look at the recent history shows thate entrepreneurs were essential to many of the most significant innovations, ones that revolutionized how people live and work. From the automobile to the airplane to personal computers - individuals with dreams and determination developed these commercial advances.


Small firms also are more likely than large companies to produce specialty goods and services and custom-demand items. As Schramm has suggested, entrepreneurs provide consumers with goods and services for needs they even know they had. Innovations improve the quality of life by multiplying consumers' choices. They enrich peoples lives in numerous ways - making life easier, improving communications, providing new forms of entertainment, and improving health care, to mention but a few.


Small firms in the United States, for instance, innovate far more than large ones do. According to the Small Business Administration, small technology companies produce nearly 13 times more patents per employee than large firms. They represent one-third of all companies in possession of 15 or more patents.


International and regional institutions such as the United Nations and the Organization for Economic Cooperation and Development, agree that entrepreneurs can play a crucial role in mobilizing resources and promoting economic growth and socio-economic development. That is particularly true in the developing world, where successful small businesses are primary engines of job creation and poverty reduction. For all of these reasons, government may wish to pursue policies that encourage entrepreneurship.



1 comment:

  1. thats really intersting, i won't loss the opportunity.

    ReplyDelete

DISCLAIMER: Comments are of the opinions of the person who commented; John-King hand no dey.

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