Internet Marketing | David Chan

Business Development In A Slow Economy: Small Business Is Where It’s At

April 15th, 2009 By DavidChan Leave a Comment

Every day layoffs are in the news around the country. No one right now is feeling secure in their job. With the recession in full bloom and housing still in the tank, there will likely continue to be more layoffs. However, in contrast, Internet businesses are enjoying an uptick. The old fashion way of building a small business “brick by brick”, i.e. the brick and mortar way, requires sizable overhead investment. Starting a business online can be accomplished literally on a shoestring. If you’re struggling to make ends meet and unclear about your future, perhaps now is the time to think about building an online business.

It does take some time, understanding and work to get an online business going. However, it will pay off in spades if run correctly. In fact, it could be a profitable venture in a shorter time than trying to build an “offline” business. One way to fund your online business, if you’ve suddenly found yourself unemployed, is to use unemployment benefits to bridge your income shortfall. Of course, consider searching for a “traditional” job in parallel. Craft your strategy correctly, just like you would
if developing any business plan in the traditional world.

There are literally tens / hundreds of thousands of online business. So, it’s clear that you must think outside the box. If you’ve been an account in the past, consider offering online bookkeeping services or consulting with clients for on how to structure their accounting systems. What if you were an application developer in the past, perhaps you can offer your help through online bidding services such as Guru.com or RentACoder.com. These services are great for giving you a baseline of potentially unlimited short-term engagements.

Many people would just brush off building a business online as “too hard.” This is especially true if they’ve never done this before. But, the real question to ask yourself is “what do I have to lose, except time?” Let’s dissect a few of the components. Buy a domain name, build a website or use an existing site / blogging service such as WordPress, and start advertising. You should spend a few hours every night writing about what you enjoy most. Explain to your audience about certain techniques, what actions work best, where to get more information, etc. Once you start, you’ll find it amazing how much knowledge you really do have about the subject.

Of course, you have to realize that regardless of how small your business there will be competition on the Internet. The Internet has something approaching 400 million websites, give or take. But, the beauty of this is that you have the opportunity to check out your competition. You can figure out what they are doing right or wrong and create your own unique products and services.

On the flip side of the coin, if you are not a proficient web designer, you might hire one of these people off of the services listed above: Guru.com or RentACoder.com. These services provide ratings on the coders within their portfolio. It makes it much easier to pick a competent web developer.

Again, just like any business, be sure you know your objectives. The Internet should be a “one-action “model. Don’t confuse the issue with creating too many “personas” or themes about you or your offering. You will end up confusing the audience / paralyzing their thought process and they will end up not buying. Make sure you have quality content on your site, as well.

Marketing will be a key component to a successful launch of your business. I like to say that you can build a website, but if no one knows that it’s there, does it really exist? Remember you ARE competing with millions of other websites. At a minimum, you are competing with thousands of business in your category. How will you stand out? What are your unique selling points? Are you relevant?

Marketing your website is probably the most difficult aspect of starting a small business online. By the time you’re ready to launch your site, you need to be prepared to invest some bucks in bringing your small business to the attention of the world.

In the end; however, this small investment could be the biggest you’ve made to be in control of your own future. This is probably the best time to invest in your tomorrow’s future by developing your own business.

Business Unusual

February 14th, 2009 By DavidChan

How many times can you re-invent yourself? How many times do you need to? For all its wonder and technological advances, the 21st century has ushered in a new era of uncertainty and undeniable change. I’m not just talking about Obama-type “change”, but about the way in which we change ourselves to adapt to this new and continually evolving world.

I’ve had a decent run in my high tech career, working for global brand companies like Hewlett Packard and Oracle and a high flying mobile startup, Everypath. These companies forced me to adapt and learn new skills … quickly. Back then, there was also an undercurrent of contempt by the sales organization if you were in business development, alliances or marketing. The hypothesis was that the sales organization brought in the money and everyone else was simply an expense item.

The Internet and, increasingly, mobile technology, has switched this dynamic. Compounding this role reversal is our lousy economy and the fact that nobody’s buying … everybody’s selling. At least, you would think so, if you look through your old dusty lenses of the past.

A sea change is afoot. Some will miss the opportunity; others will catch the wave and ride it. Business development is the new sales. Marketing is the new sales. Alliances are the new sales. The Internet and “digital everything” has opened up new market opportunities across the globe.

Ponder this. At 1:01pm PST, a writer in San Francisco publishes a book online and at 1:02pm PST someone in the Philippines can buy it. A singer in Shanghai, China performs at an outdoor concert, while bar goers in London, England, students in their dorm rooms and couch potatoes at home tune in at lunchtime LIVE … over their broadband connections. Or, a nutrition company launches a new health bar and instantly it has over 10,000 new affiliates pushing its product across the globe.

This is the new business development model. In order to capitalize on this wave, you need to view the world through different lenses. It’s now about analyzing demographics and buying behaviors of the people on the Internet … MARKETING. It’s about building ALLINACES with companies that have products and services. And, it’s about developing new ways to connect and work with teams from around the globe … BUSINESS DEVELOPMENT.

There will be many who will bemoan the fact that the world has changed … that jobs are increasingly being shipped overseas … that they can’t adapt. But, there will also be a lucky few who take the leap and reap the benefits.

Business Development – That Was Then, This Is Now

February 12th, 2009 By DavidChan Leave a Comment

Business development in this new era of Internet and mobile marketing has changed dramatically since the 90s and even early 2000s. In those really “old” days, companies looking to expand built Alliance divisions and signed distribution agreements with 3rd party partners. These 3rd party partners provided much needed support to the host companies in a variety of ways: geographic reach, consulting services, technical support, and distribution logistics.

The 3rd party services provided a lot of value to the host companies. They allowed the host companies to reduce their costs, while increasing their sales, marketing and business development capacity.

However, back in “the day”, in order to have a successful partner program, the host company needed to spend a lot of time on “set up”. Business development involved a lot of “heavy lifting” in the form of recruitment, training, sales tools, technical support and oftentimes co-selling!

My experience in early day business development came from high tech software and hardware companies. The products that we sold were physical products of software applications, servers, peripherals and other related products.

Fast forward to the digital economy … the value chain of manufacturing, distribution, sales, marketing, support and training has been significantly compressed or dis-intermediated. The Internet, broadband speeds and global sourcing, among other things, have created huge opportunities for business development in practically every industry imaginable.

For example, let’s examine the high tech software industry. In the 90s software was an “on premise” solution. This means that people paid LOTs of money to install a company’s software on their premise, i.e. at their office. The whole company was involved from the sales organization to the consulting group to the support team, etc. Sometimes, a partner was involved to augment the services of the host company.

Today, that same software application is not an on premise solution but now managed at some other facility. The host company’s sales person may have sold you the solution or perhaps a partner telemarketer out of India or the Philippines. And, the support could be coming from yet another third party organization.

Business development then logically evolves into a different kind of animal. Instead of building a huge organization to drive new products and services, companies can source and diversify their team across geography, industry and even niches.

New terms have also evolved to describe the actions and responsibilities of the new online business development frontier. For example, what was once known as a reseller in the offline market is now called an “affiliate”. When an affiliate advertises your product online, it’s often called PPC or Pay per Click campaign. In the old days, it was simply called advertising.

Whatever terms you want to use, the online business development model is the digital wave of TODAY and it is accelerating across all industries. If you’re stuck in web 1.0 and static web pages, be prepared to be “leap-frogged” by the new nimble, fleet-footed Online Marketers.