Will You Need to Borrow Money?
The first step is to ask yourself some questions that will help you to make the right decision –
questions that will help you to realistically understand your financial needs and keep you from
making costly errors that may ultimately bankrupt a potentially viable business.
To determine whether or not you will need outside financing, some of the questions you might ask
yourself are:
1. Have I written a business plan so that I can make financial decisions
based on achieving the desired goals for my business? If you haven't written
one, do so.
2. Would I be willing to risk my own money on my venture? What are
the risks? What are my own sources of available capital? If you are not willing
to take a risk, don't expect someone else to.
3. Do I really need additional financing or do I just need to manage my
present cash flow more effectively?
4. What do I need the money for? If I borrow, can I realistically project
increased revenues? If so, when will those increased revenues justify the debt?
2 Ocak 2009 Cuma
Determine Financing Needs For Your Business
Determine Financing Needs
For Your Business
When you are planning to start a new business (or expand your current
operation), four very important questions arise relating to finance.
In order to make an intelligent decision on a timely basis, you will need to address
all four of these questions. If you fail to do so, the lack of sufficient and ready
capital can quickly lead to business failure.
Will you need to borrow money?
If you need outside financing, how much
do you need and when will you need it?
What are the sources of funding available
to meet your needs?
How much will it cost?
For Your Business
When you are planning to start a new business (or expand your current
operation), four very important questions arise relating to finance.
In order to make an intelligent decision on a timely basis, you will need to address
all four of these questions. If you fail to do so, the lack of sufficient and ready
capital can quickly lead to business failure.
Will you need to borrow money?
If you need outside financing, how much
do you need and when will you need it?
What are the sources of funding available
to meet your needs?
How much will it cost?
1 Ocak 2009 Perşembe
Driving Traffic to Your Web Site
Driving Traffic to Your Web Site
Just having a Web site will not generate traffic. You will have to develop strategies to drive
visitors to your Web site. Be aware that you will be inundated with solicitations from companies
claiming that they can get you millions of customers. Most of them do not produce results.
There are several valid ways to drive traffic to your Web site.
• Search engine registration – This accounts for a large volume of traffic
driven on the Internet. Your site should be submitted periodically with all of the
major search engines. In addition, you can pay for positioning of your Web site
information on some search engines (e.g., Yahoo and Google), on a pay-per-click
basis. Under this setup, you pay the search engine every time a customer clicks
through to your Web site. Typically, your credit card is charged at the end of the
month for the number of “click throughs.”
To generate substantial traffic to your site through search engines, make sure that
it has a high ranking. We recommend that you work with an Internet consultant
who will submit your Web site to search engines and use various techniques to
improve your ranking. The consultant will work with you to place meta tags on
the Web pages of your site. Meta tags are codes that provide a summary of the
content on a Web page as well as keywords related to the page.
• Link exchanges – You can drive traffic to your site through links. This means
you can establish an alliance with other Web sites that will place a link to your
site on their own site. You may also carry a link to their Web site on your site.
This is called a link exchange. In exchanging links with other Web sites, look for
companies with whom you share something in common.
• Affiliate programs – You can also drive traffic by developing an affiliate
program. Affiliate programs will also serve to increase sales. Affiliates promote
your products and services on their Web site. From any sales that are generated
from the affiliate’s site, you pay a commission agreed to with the affiliate.
Having an affiliate program creates an additional sales force, one that you do not
have to account for on your payroll.
• Banner ads – Online, you can place banner ads on other Web sites. You can
measure the effectiveness of your banner ad by the number of clicks you get on
your Web site from that ad. This is referred to as click-through ratio.
• Marketing materials – Listing your Web sites on all your marketing materials,
such as brochures and business cards, is another way to drive traffic to your web
site.
Just having a Web site will not generate traffic. You will have to develop strategies to drive
visitors to your Web site. Be aware that you will be inundated with solicitations from companies
claiming that they can get you millions of customers. Most of them do not produce results.
There are several valid ways to drive traffic to your Web site.
• Search engine registration – This accounts for a large volume of traffic
driven on the Internet. Your site should be submitted periodically with all of the
major search engines. In addition, you can pay for positioning of your Web site
information on some search engines (e.g., Yahoo and Google), on a pay-per-click
basis. Under this setup, you pay the search engine every time a customer clicks
through to your Web site. Typically, your credit card is charged at the end of the
month for the number of “click throughs.”
To generate substantial traffic to your site through search engines, make sure that
it has a high ranking. We recommend that you work with an Internet consultant
who will submit your Web site to search engines and use various techniques to
improve your ranking. The consultant will work with you to place meta tags on
the Web pages of your site. Meta tags are codes that provide a summary of the
content on a Web page as well as keywords related to the page.
• Link exchanges – You can drive traffic to your site through links. This means
you can establish an alliance with other Web sites that will place a link to your
site on their own site. You may also carry a link to their Web site on your site.
This is called a link exchange. In exchanging links with other Web sites, look for
companies with whom you share something in common.
• Affiliate programs – You can also drive traffic by developing an affiliate
program. Affiliate programs will also serve to increase sales. Affiliates promote
your products and services on their Web site. From any sales that are generated
from the affiliate’s site, you pay a commission agreed to with the affiliate.
Having an affiliate program creates an additional sales force, one that you do not
have to account for on your payroll.
• Banner ads – Online, you can place banner ads on other Web sites. You can
measure the effectiveness of your banner ad by the number of clicks you get on
your Web site from that ad. This is referred to as click-through ratio.
• Marketing materials – Listing your Web sites on all your marketing materials,
such as brochures and business cards, is another way to drive traffic to your web
site.
Designing Your Web Site
Designing Your Web Site
You will have to decide whether you will design and develop your own Web pages or use the
services of a professional Web developer. If you decide to do it yourself, there are several
software programs and applications that you can use (e.g., Microsoft Front Page and Netscape
Composer have been two of the most popular applications). There are also service providers that
offer to help you produce instant Web sites. Be aware that these opportunities will result in
generic Web sites that do not provide for the customization necessary for a real working business
Web site.
If you can afford it, the best answer is to hire a professional Web site developer to design your
site and to act as webmaster to maintain it for you. Your job would be to work directly with the
site developer to provide needed information and to see that the Web pages reflect the vision of
your company that will best serve its current and potential customers.
You will have to decide whether you will design and develop your own Web pages or use the
services of a professional Web developer. If you decide to do it yourself, there are several
software programs and applications that you can use (e.g., Microsoft Front Page and Netscape
Composer have been two of the most popular applications). There are also service providers that
offer to help you produce instant Web sites. Be aware that these opportunities will result in
generic Web sites that do not provide for the customization necessary for a real working business
Web site.
If you can afford it, the best answer is to hire a professional Web site developer to design your
site and to act as webmaster to maintain it for you. Your job would be to work directly with the
site developer to provide needed information and to see that the Web pages reflect the vision of
your company that will best serve its current and potential customers.
Finding a Web Site Host
Finding a Web Site Host
You will have to find a company that will host your site. A Web hosting company provides a
service (hosting) that allows you to post the pages of your Web site to the Internet. Hosting
companies (such as Verio) have the technology to keep your Web site up and running 24 hours a
day. For their services, you will pay a hosting fee. Hosting fees are typically paid on a monthly
basis or an annual basis. Fees will vary according to the size of your Web site and the specialty
services that you require.
You will have to find a company that will host your site. A Web hosting company provides a
service (hosting) that allows you to post the pages of your Web site to the Internet. Hosting
companies (such as Verio) have the technology to keep your Web site up and running 24 hours a
day. For their services, you will pay a hosting fee. Hosting fees are typically paid on a monthly
basis or an annual basis. Fees will vary according to the size of your Web site and the specialty
services that you require.
Buying Products and Services Online for Your Business
Buying Products and Services
Online for Your Business
The Internet is a virtual marketplace and an important channel for buying products and services.
Shopping Online
Instead of going to a store and walking down the aisle, you are in a virtual store where you shop
and complete your purchase by using your credit card. Unlike a brick-and-mortar store, the
Internet offers 24-hour access to millions of merchants and manufacturers and their products and
services. You will also benefit from the convenience, selection and product information available
from shopping online.
However, shopping online may present a problem. You will need to sort through the large volume
of information and choices. Do not despair; you have help. Some Web sites offer online price
comparison services.
Examples of online price comparison services include Pricegrabber.com, MySimon.com,
Shopping.com, and Shopzilla.com. These Web sites allow you to research and compare products,
enabling you to find the best products at the lowest prices. Using comparison-shopping services
will help you to make better-informed shopping decisions.
• Products – Once you have found the merchant of your choice, you will have to
search through their online catalog for the specific products you are looking for.
As you find the products you wish to purchase, you add them to your online
shopping cart. When you indicate that you have finished shopping, typically by
hitting the “Check Out” button, your purchases are added up. You are then given
some choices for shipping options and those costs are added to your total
purchase.
The next step will be for you to provide the necessary information required by
the merchant including shipping address, credit card number and expiration date,
and any other information specified by the merchant. Once your credit card has
been processed, you will be provided with a confirmation that you can print and
save for your records. You may also receive an e-mail confirmation, as it is a
common practice for many merchants.
• Services – Looking for travel deals, cell phone services, or business plan
consulting? These are only three of a vast number of services that can be
accessed via the Internet. Using the Internet, you can learn about the company,
the services it offers, and in some cases view samples of its work. It is very
important that you conduct due diligence on the company providing the service,
especially if it is located in another city or state. This includes getting and
verifying references and talking to past customers about their services and
satisfaction levels. Be sure to do this prior to retaining the services of a company
or individual online. This will prevent unnecessary harm to you down the road.
You can use the Better Business Bureau Web site (http://www.bbb.org) to
inquire about potential service providers.
Online for Your Business
The Internet is a virtual marketplace and an important channel for buying products and services.
Shopping Online
Instead of going to a store and walking down the aisle, you are in a virtual store where you shop
and complete your purchase by using your credit card. Unlike a brick-and-mortar store, the
Internet offers 24-hour access to millions of merchants and manufacturers and their products and
services. You will also benefit from the convenience, selection and product information available
from shopping online.
However, shopping online may present a problem. You will need to sort through the large volume
of information and choices. Do not despair; you have help. Some Web sites offer online price
comparison services.
Examples of online price comparison services include Pricegrabber.com, MySimon.com,
Shopping.com, and Shopzilla.com. These Web sites allow you to research and compare products,
enabling you to find the best products at the lowest prices. Using comparison-shopping services
will help you to make better-informed shopping decisions.
• Products – Once you have found the merchant of your choice, you will have to
search through their online catalog for the specific products you are looking for.
As you find the products you wish to purchase, you add them to your online
shopping cart. When you indicate that you have finished shopping, typically by
hitting the “Check Out” button, your purchases are added up. You are then given
some choices for shipping options and those costs are added to your total
purchase.
The next step will be for you to provide the necessary information required by
the merchant including shipping address, credit card number and expiration date,
and any other information specified by the merchant. Once your credit card has
been processed, you will be provided with a confirmation that you can print and
save for your records. You may also receive an e-mail confirmation, as it is a
common practice for many merchants.
• Services – Looking for travel deals, cell phone services, or business plan
consulting? These are only three of a vast number of services that can be
accessed via the Internet. Using the Internet, you can learn about the company,
the services it offers, and in some cases view samples of its work. It is very
important that you conduct due diligence on the company providing the service,
especially if it is located in another city or state. This includes getting and
verifying references and talking to past customers about their services and
satisfaction levels. Be sure to do this prior to retaining the services of a company
or individual online. This will prevent unnecessary harm to you down the road.
You can use the Better Business Bureau Web site (http://www.bbb.org) to
inquire about potential service providers.
Developing Your Company’s Web Site
Developing Your Company’s Web Site
Building a successful company Web site is a major effort requiring lots of time, talent, and
dollars. You will have to choose a domain name, find a host, design your Web pages, and then
figure out how to drive traffic to your site.
Choosing a Domain Name
Your first task will be to choose, research availability for, and register a domain name for your
Web site. Your domain name is the descriptive name you choose for your site combined with one
of the common extensions (.com, .net, .org, etc.).
Most companies use their company name or a name that is descriptive of their products or
services. Dot-com is the most desirable extension for a private business, followed by dot-net.
Dot-org signifies an organization. Other extensions are particular to schools, government
agencies, etc.
When you have decided on the domain name you would like for your company’s Web site, you
will have to research the name availability and gain ownership of the name for a period of time by
registering it with InterNIC for a modest fee.
There are several sites that you can use for this service. Among the most frequently used are
http://www.networksolutions.com and http://www.register.com
Building a successful company Web site is a major effort requiring lots of time, talent, and
dollars. You will have to choose a domain name, find a host, design your Web pages, and then
figure out how to drive traffic to your site.
Choosing a Domain Name
Your first task will be to choose, research availability for, and register a domain name for your
Web site. Your domain name is the descriptive name you choose for your site combined with one
of the common extensions (.com, .net, .org, etc.).
Most companies use their company name or a name that is descriptive of their products or
services. Dot-com is the most desirable extension for a private business, followed by dot-net.
Dot-org signifies an organization. Other extensions are particular to schools, government
agencies, etc.
When you have decided on the domain name you would like for your company’s Web site, you
will have to research the name availability and gain ownership of the name for a period of time by
registering it with InterNIC for a modest fee.
There are several sites that you can use for this service. Among the most frequently used are
http://www.networksolutions.com and http://www.register.com
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