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Internet Business Strategy

Written by: Thomas Young

Article Overview: Technology has long played a factor in business operations. The Internet is the latest advent of technology supporting strategic initiatives. Yet, many companies are under the impression that the Internet in itself is a business strategy. This has proven not to be the case. Just as the telephone, the PC, the fax machine and other ground breaking technologies do not stand on their own as a business strategy, neither does the Internet. However, the Internet is a powerful compliment to a winning business strategy that helps companies compete more effectively in business and better satisfy customers.

Internet Business Strategy

Technology has long played a factor in business operations. The Internet is the latest advent of technology supporting strategic initiatives. Yet, many companies are under the impression that the Internet in itself is a business strategy. This has proven not to be the case. Just as the telephone, the PC, the fax machine and other ground breaking technologies do not stand on their own as a business strategy, neither does the Internet. However, the Internet is a powerful compliment to a winning business strategy that helps companies compete more effectively in business and better satisfy customers.

Internet Technologies Compliment Your Business Strategy

The best business strategies involve use of technology to support and compliment the very nature of the business. For example, a retail company can leverage the Internet to drive new customers into their store, sell on line, provide inventory and pricing information and much more. The store can use the Internet to do what they already know, more effectively, not as a replacement to their business strategy.

Gain a Competitive Edge

The Internet can provide you with a competitive advantage in two areas: operations and marketing. The Internet closes the communication gap in all areas of business operations. As an effective marketing and promotional tool the Internet is top-notch and investments in back-end operational functions can help streamline a company and lead to improved ROI and increased efficiencies. These savings can be translated into improved profitability, better service for customers, or an improved competitive advantage. Companies that are investing in Web based e-commerce systems will reap great returns in the coming years.

Internet Only is not a Winning Strategy

Your business model and strategy should come first, not the technology that may power it. Investments in your Web based technology should be based on determining how you can add more value to the company and customers. Being on the Internet is not a business strategy, but rather an effective mechanism for transforming your strategy into reality. If your company does something well, deploy that advantage on the Web.

There is No Quick Fix to Business Success

The Internet has made business more complicated as customers expect more and operations attempts to keep up. Implemented properly, Internet technologies can lead to a solid return on investment, deliver improved value to customers and provide an excellent compliment to your business focus.

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Book: Secrets of Six Figure Women - Secrets of Six Figure Women: Surprising Strategies to up your earning and change your life Barbara Stanny, 2002 Jacket: Maybe you've noticed - a subtle trend is gathering steam. Quietly and steadily, the number of women making six figures or more is increasing, and it continues to rise at a rate faster than for men. From entrepreneurs to corporate executives, from white collar executives to free lancers and part timers, women are forging careers with considerable financial success. Through extensive research and hundreds of interviews, including dialogs with more than 150 high earners whose annual incomes range from $100,000 to 7 million, Stanny discovered that ...they all had certain traits in common: 1) a profit motive 2) Audacity 3) REslience 4) Encouragement 5) Self-awareness 6) Non-attachment 7) Financial knowhow She amplifies on these in the book itself. Table of Contents Intro: Welcome to the era of the six-figure woman 1. The Queen in the Countinghouse 2. The Lowdown on low earners 3. Raising the bar 4. Strategy 1: The Declaration of Intention 5. Strategy 2: Letting go of the ledge 6. Strategy 3: Get in the Game 7. Strategy 4: Speak Up 8. Strategy 5: The Stretch 9. Strategy 6: Seek Support 10. Strategy 7: Obey the rules of money 11. Claiming our power Appendces: Resources and websites Tips for getting out of dent Investing Basics: Wealthbuilding 101
My entry - 1. The Best Business Books Ever: The 100 Most Influential Business Books You'll Never Have Time to Read - this is a fascinating book about the history of Business theory, and I'd recommend it to anybody. 2. The Big Book of Small Business: You Don't Have to Run Your Business by the Seat of Your Pants, by Tom Gegax. Ditto. 3. PADI: The Business of Diving Book Okay, so this book won't be of use to anyone who doesn't want to start a scuba store, but I did, and this book was of course invaluable to me in reaching that goal.
Re: Who inspired you to start? - Hi Evan, I was inspired by Mr. Bill Gates ever since I was a student learning Computers. But I was motivated for Internet as my Business, when I read his book "The Road Ahead" in 1995. It was in this book that Gates laid out his vision of an interconnected world built around the Internet. Based on the premise that life will be transformed by the convergence of inexpensive computing and inexpensive communications, Gates drew from his experience at the center of the personal computer revolution to give insights on the growth, evolution and impact of technology. I had always looked up to Bill Gates as my idol. When I read this book, it made me more focussed on Microsoft and Internet, The Internet was one of the upcoming things in this time. So I took over to the Internet as my primary business. Regards,
Re: Best Internet Marketing Strategy - Sometimes the best Internet Marketing Strategy can really depend on your business. It can depend on the particular industry and specifically it can depend on your competitive landscape which can vary from the low hanging fruit to highly competitive markets. I guess what I really saying is that it can vary from one scenario to a different range of strategies to another different scenario. How can you determine which is best for your ideal audience(s)? Outside of all of the technical aspects, which so many people tend to dwell on quite naturally, there is another missing element that is sometimes missing from the SEO/Social Media set of skills. Two principles to keep in mind when you are working on your "strategy." 1. The single biggest missing element is the one that puts you ahead of the competition in a major way. That element is "creativity." So many people spend hundreds of hours trying to replicate what others are doing. Creativity is the element that will allow you opportunity to become a leader (instead of just following the crowd trying to copy everyone else.) True creativity mixed in with your SEO strategy can position you as the leader and the next thing you know, everyone will be watching what you do and trying to follow your lead. But when you are the creator, it keeps you ahead of the game because you are growing in directions of your choosing and using your time to be productive. 2. The other element of any great Internet Marketing Strategy (outside of the technical skills and know how) deals with you delivery of information. Try to always remember that your strategies are not just there to help you pursue money and wealth, but you are writing to serve your audience. Why do people search the Internet in the first place. Often it is because they are searching or researching information based on the conditions in their lives. Consider the purpose that you write and create content and ensure you are creating the type of useful, helpful and engaging content that satisfies the reason someone chose to search in the first place. Remember that running a business is about making a profit, but even more important to remember is that life is about serving your readers and life is about helping people. Money comes and goes and everyone needs it to live. But people are eternal and how we care about our customers and readers will be evident in your work, whether you realize it sooner or later. Instead of going after the one hit type of sale or service, build within your Web strategy one of the most powerful strategies that can be built. I am referring to building clients for life by remembering that the Internet is not much different than the real world, or it does not have to be if you focus on building relationships using the World Wide Web. I rarely share on forums because so many of them can become nearly like battlegrounds with people all trying to argue their points. But the reason I like Evan's forum here is because ever since I joined it, I've seen nothing but evidence of friends helping other friends and that's what makes this group so great. Good luck on your journey to find your best Internet Marketing Strategy and I wish each and every reader here the very best of success along your path.
Re: Fill in the blank: The best decision I ever made with my bus - Focusing on my Internet Marketing Business


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