Online Business Failures – Reasons And Remedies

admin — Wed, 10 Mar 2010 18:02:18 +0000

Reports suggest that a majority of online businesses fail. This means that you will need to avoid the common reasons for the failure in order to make a success of your online business.

Instant results:

In the day of instant gratification and lightning speed, everyone wants everything yesterday. The level of expectations is further heightened by the number of stories doing the rounds about internet millionaires and guys who invented the next big thing online. A huge number of internet businesses fail simply due to the unrealistic expectations the owner had. Now let’s be realistic. You are probably not a rocket scientist or Einstein and while your idea may be good, it may simply not take off. A successful business person has to be persistent and be patient. You will see some failures before success comes and you need to weather through it and persist. This is the most important way to sustain your business – keep at it and don’t give up easily.

Lack of Updates:

If you expect that you can simply put up your site on the internet and people will swarm to it and you never have to do anything again, think again. That simply doesn’t happen. That’s what they don’t show you – what happens after the end of the movie. The hero gets rich but has to work hard to stay rich. It’s the same with your site. You will need to constantly change with the business, the technology and the internet’s thought process to remain in business. You need continuous updating, in terms of marketing, optimization of your technology and content, and even your offerings.

Value proposition:

A number of online businesses fail simply because they do not offer a value proposition to the customer. Do not underestimate your customer – you cannot fool everyone all of the time so people will compare the value you offer to hundreds of other competitors on the internet market before selecting. If you want to get picked, be sure that you have a unique selling proposition and the customer will find value in what you provide.

Riding a wave:

Many people do not have a unique idea of their own and simply want to cash in on the latest wave in the market. The internet has its share of fads and one line of thinking is to create a site based on what everyone else is doing. While this is not a bad idea in itself, you need to remember that if everyone else is doing it, you need to find a way to differentiate yourself from them. Further, you will need to have solid understanding on the subject that you select, through research and experience. Also, remember that when the next fad comes, this one will fade and your business site should have a sustainable advantage to keep afloat.

Disinterest:

Some entrepreneurs are simply not interested in providing a product or service. They only want to make money. This harks back to the earlier points of updating and offering value to the customer. If you do not update your site and offer good service to your customer, your lack of interest in the business will show through and customers will not buy from you.

By: William King

Business Card Etiquette

admin — Thu, 21 Jan 2010 02:39:12 +0000

When doing business abroad it is important to understand the local culture. Culture includes areas such as a country’s norms, values, behaviours, food, architecture, fashion and art. However, one area of culture that is important for the international business person is etiquette.

Understanding business etiquette allows you to feel comfortable in your dealings with foreign friends, colleagues, customers or clients. Knowing what to do and say in the right places will help build trust and open lines of communication.

One aspect of etiquette that is of great importance internationally is the exchanging of business cards.

Unlike in North America or Europe where the business card has little meaning other than a convenient form of capturing essential personal details, in other parts of the world the business card has very different meanings.

For example, in Japan the business card is viewed as a representation of the owner. Therefore proper business etiquette demands one treats the business card with respect and honour.

Below we have provided you with a few examples of international business card exchange etiquette that may help you on your business trips abroad.

General Business Card Etiquette Tips:

• Business cards are an internationally recognised means of presenting personal contact details, so ensure you have a plentiful supply.
• Demonstrating good business etiquette is merely a means of presenting yourself as best you can. Failure to adhere to foreign business etiquette does not always have disastrous consequences.
• When travelling abroad for business it is advisable to have one side of your business card translated into the appropriate language.
• Business cards are generally exchanged at the beginning of or at the end of an initial meeting.
• Good business etiquette requires you present the card so the recipient’s language is face up.
• Make a point of studying any business card, commenting on it and clarifying information before putting it away.

Business Card Etiquette in China

• Have one side of your business card translated into Chinese using simplified Chinese characters that are printed in gold ink since gold is an auspicious colour.
• Ensure the translation is carried out into the appropriate Chinese dialect, i.e. Cantonese or Mandarin.
• Your business card should include your title. If your company is the oldest or largest in your country, that fact should be highlighted on your card.
• Hold the card in both hands when offering it.
• Never write on someone’s card unless so directed.

Business Card Etiquette in India

• If you have a university degree or any honour, put it on your business card.
• Always use the right hand to give and receive business cards.
• Business cards need not be translated into Hindi as English is widely spoken within the business community.

Business Card Etiquette in Japan

• Business cards are exchanged with great ceremony.
• Invest in quality cards.
• Always keep your business cards in pristine condition.
• Treat the business card you receive as you would the person.
• Make sure your business card includes your title. The Japanese place emphasis on status and hierarchy.
• Business cards are always received with two hands but can be given with only one.
• During a meeting, place the business cards on the table in front of you in the order people are seated.
• When the meeting is over, put the business cards in a business card case or a portfolio.

Business Card Etiquette in the UK

• Business card etiquette is relaxed in the UK and involves little ceremony.
• It is not considered bad etiquette to keep cards in a pocket.
• Business cards should be kept clean and presentable.
• Do not feel obliged to hand out a business card to everyone you meet as it is not expected.

By: Neil Payne

Business Continuity Audit » Failure

Online Business Failures – Reasons And Remedies

Business Card Etiquette