Making Money in an Online Business
Making money is the ultimate goal of any (for-profit) businesses. Even the not-for-profits find ways to generate some money for things like: keeping the business going, paying some staff members and for some miscellaneous items. Many businesses that can't achieve the ultimate goal will fail. The critical question is why do some businesses fail to make money?
As with all human endeavors, planning is the first step, the make-or-break, in setting up any business, And it can be divided into two broad categories - the objectives and what it will take to achieve them. Well defined and achievable objectives will control and focus the way the business is run. But these will mean little if the wherewithal is unavailable.
My first business was in Construction. How confident I felt in making money! I had little but sufficient amount of money to fund the projects and I thought I had the manpower. But I failed to take a hard look at the type of manpower I had. In any business, what the people, the prospective customers, see or most attracted to is the product of the business and less of every other thing.
The product can't be shabby, doesn't meet the time line or is completed late and above budget. It is the product, the quality of the product, that 'speaks' to people. So, among the hard questions any person thinking of setting up any business is, "What will speak to the people or what will the prospective clients see." The entrepreneur must understand and have strong answers to these questions.
Online marketing is a business. It therefore must follow the same principles and rules. The same hard questions - what will 'speak' to people, the prospective clients? In this case, it is the website, the quality of the website. The quality will include the attractiveness or how inviting the website is, the quality of the contents and the ease of navigation.
The website is the only line of communication between the entrepreneur and the public. It wells be good! It is the website that will attract and keep traffic on the site and eventually, invoke sells. You can see that making money on online business will require a well-thought-out website.
Websites being this vital in making money in an online business, I think investing in some paid themes is the way to go. Granted, there are many free themes out there. But most of them lack the most important attributes of a good quality website - technical support and regular updates. Sooner or later, the website has to be rebuilt
Who has time for that and who can endure such disruption?