Avoiding the headaches associated with managing a physical inventory, filling and shipping orders can make a huge difference in the amount of time you have available to spend on other aspects of your business. By now you may be realizing that there are many more things you’ll have to concern yourself with than you originally [...]
Consider, there are two categories of products you can sell in an online business, a physical product or an information product. We could classify a CD as both a physical product and as an information product because the product itself is only a means of conveying information to a customer. In the case of a [...]
Another issue you must consider with respect to selling goods online is the cost of carrying inventory in stock. When I worked in the corporate manufacturing sector with fortune 500 American companies, there was an ongoing debate in the industry over how much it cost to maintain, carry, hold inventory on hand. The numbers ranged [...]
I should point out that if you are operating or considering the operation of a catalog business, my comments about a business selling goods are really not directed at you. A catalog business is usually one where there is a wide assortment of; for example, camping gear, knick-knacks or tools for sale, etc. My comments [...]
Let’s assume that you have a business selling a product or even an assortment of products similar to the average B&M business. A very large concern you’ll have is stuff, your product, your inventory.
Goods
If you choose to operate an online business selling a product the same way as your grandfather operated his B&M business, being [...]
When you have your own Online Business (OB), you have benefits that put your business in a category distinctly separate from a Bricks and Mortar (B&M) business. In order for you to realize what these benefits are and how they distinguish your online business from a B&M, I’m going to go over some of the [...]
This is a good time to recap the blogs I’ve done on the subject of business so far to serve as a reminder of the topics I’ve covered for those of you that have read from the beginning and for those of you that are just joining in and haven’t read all of the past [...]
Of course, you are under no obligation whatsoever to take any action that protects your assets from potential litigation – some turkey suing you but, taking precautions, its good thing.
The problem is that no one seems to take responsibility for their own actions these days. When something goes wrong in their life, the first action [...]
If you are starting up a sole proprietorship it will take you a period of time to build up a list of potential customers so your risk is minimal as long as –
• Your treat customers fairly.
• Don’t promise that your product or service will make them rich or change their lives from dreary to [...]
Let’s assume that you find an existing business for sale that meets your needs. If you don’t have it’s financial status thoroughly examined by a certified third party, such as an audit firm that has some experience in this area, you could very well find yourself on the losing end of a lawsuit that could [...]
