7 Ways to Expand Your Online Business

So you just started your online business, congratulations! But you’re not yet sure of how to expand them. Here are 7 ways to help you. Read and be motivated!1. Consider opening another location. This may not be a great choice for expanding internet business. But according to business consultant and writer Frances McGukin, opening another location for your online business is just the same thing as traditional business. Moreover, McGukin recommends online-based business owners to:
Look closely at the trends (both consumer and economic-based) to indicate the staying power of your business.
Ensure that the management team (including its administrative systems) is extraordinary in setting a location before keeping it running.
Maintain the “bottom-line” profits that have been steady for the first 2 – 3 years of the business.
Determine how and where you’ll obtain your finances.
Set up a separate business plan for the new location.
2. License your offers. This may be a low-cost medium for many online businesses. According to Larry Bennett, head director of the International Center for Entrepreneurship Studies at Johnson & Wales University, these businesses can receive upfront royalties and dues from consistent sales or software use through licensing. This helps control the risks of losing product or service control.3. Sign a government contract. Rep. Nydia Velazquez of the Democratic Party wrote in her August 2003 article the importance of getting the approval of the federal government in expanding an online-based business. Coordinate with your local SDBC and SBA offices before signing a government contract. The US Chamber of Commerce offers a special matchmaking program for small or online-based entrepreneurs.4. Target other people. Your present market is serving you well, and that’s understandable. But McGukin suggests that having multiple markets is an advantage in expanding your business online. Think about it! If your market ranges from young adults to professionals, chances are you’ll be able to earn over hundreds (or even thousands) of bucks and make a name in the online business realm. Sponsor speaking events, entrepreneurship programs and other offerings that can generate a multitude of revenue streams to your business.5. Place your business website in search engines. According to SEO expert Sally Falkow, 85% of traffic comes from Google and Yahoo. Falkow adds that as of June 2011, about five billion business and traffic doubles every 200 days, making the visibility of these sites crucial to the needs of people.6. Expand your business globally. FatWire is among the few online-based businesses that successfully expanded its services to over 60 countries. Since then, the company has already established offices in Italy, France, Holland, Spain, United Kingdom, Singapore, Japan and China. To expand the business outside of your country, you need a foreign distributor who will carry the inventory of your product or service to resell them in your target domestic markets.7. Merge with other online businesses. It’s an advantage if the business you chose to join forces with is also up for expansion.

Online Business Ideas for Beginners

Are you curious as how to get started building a business online? If you are new to the online business world this article will explain different online business ideas for beginners. Because there are so many different opportunities available to you with the ever-expanding world of internet commerce, it is important to understand how to generate income online as fast as possible. So here are the three tips/ideas I have: affiliate marketing, training, and having an online marketing strategy. Read on and I’ll explain these tips in more detail.Many beginners look to affiliate marketing as their first endeavor online. This is a great idea, since you won’t have to stock any physical products, deal with customer service issues, and you get to choose what hours you want to work. As an affiliate you will basically be promoting another companies product, and when you get a sale you earn a commission off of that. This is a great online business idea for beginners because the hard part of actually creating the business, the product, website, etc. has already been done for you. All you really need to do is find creative ways to promote that product. How exactly to promote the products will be explained in the next couple of paragraphs.The next of our online business ideas for beginners is actually more of a recommendation than an idea. Anyway, this recommendation is to find a training program that will help you with your online business endeavors. If you decide to become an affiliate marketer, find a company or a product that has instructions and tips you can follow to become more successful. This is also a good idea just in case you get stuck or if you have any problems, you’ll have someone to help you out. Be careful though; there are scams, so please research the program you are interested in thoroughly before you go ahead and purchase it.The last online business idea for beginners I have is to come up with an online marketing strategy. You will need to have some sort of strategy no matter what type of online business you’ll be creating. Whether it be affiliate marketing, MLM, or selling your own products online, you will need to make a strategy on how to attract potential customers to see your products. After all, what is a business without customers? Remember that in order for your business to be successful you will need to market it properly and to the right audience. You can find much more information about good marketing strategies just by doing a quick Google search.In summary, these three ideas can be helpful in your online business endeavors. There are so many opportunities available to you, make sure you research the different programs, make sure they offer training and support, and they can help you devise a fail-proof internet marketing strategy. If you do that you’ll be well on your way to success!Wishing you the best,
Beth Balcum