Author: BizSieve Team

How to Get Your E-commerce Business Idea Funded

Introduction

As technology has taken over the marketplace with ecommerce many entrepreneurs decide to begin there journey with an online business. It makes sense; online businesses are attractive options due to the gaining popularity of ecommerce among consumers across the globe. And, in most cases, online businesses require less capital investment as compared to traditional models, especially stores selling goods. However, it is not without a justifiable amount of seed money that you can start and online business, it does require its share of capital. This article discusses how to understand you’re the financial requirements of your online business idea and subsequently raise the funds needed.

money
Image from http://www.flickr.com/photos/30360780@N02/3328400343/

The business plan

The entire saga begins on paper with a watertight business plan. A well researched and carefully drafted business plan will help you understand the real requirements of your online business. Once you start penning down the details, you will be surprised at the number of revelations a business plan surfaces. Many new factors will come forward and you will become better prepared to take on the challenge.

You must include every facet of your business in the plan and take the pain to make each sectioned meticulously detailed. Special focus must be given to the financial section for that is where you will determine how much money you plan to invest and what are the revenues you are aiming at. This section will also be the first one your potential investors will scrutinize.

Roping in the Investors

Unless you have existing sources of steady incomes that generate extra cash, you will need to approach funding sources or lenders in the market. Banks are usually more interested in funding traditional businesses over virtual ventures. However, this trend is slowly changing and some banks are considering online businesses for loans. It is a difficult option but also one which shouldn’t be ignored.

Your friends and family can be a great source of funding if they are willing to show confidence in your ecommerce plan and back it up with their money. Don’t for a moment think that a smile and familiarity will get you through to their bank accounts; the only way is to present a solid business pan with exact future projections.

Other more professional lenders include angel investors, venture capitalists, peer and peer lenders. These lenders can we found through the internet and funding is again based on the promise that you business plan brings to the table. These types of investors are usually fully involved in the business they invest in, as a result, their levels of interest in you plan and projections will be much higher than your acquaintances. Some might loan the money to you on interest while most will be looking for a stake in the business.

Whoever you approach you will need to be presentable and show credibility. Any financial source who will bet his money on you and your business plan will need to know that they are going ahead with a trustworthy person and a feasible business plan. It is your job to portray these requisites and get your funds releases.

About the Author: Penny, the author, is an expert associated with Ezbob.com, an online financial solution for that provides instant business loan to e-commerce and other online traders for their working capital and operational expansion requirements.

Employees Worry as Managers Track Their Activities

Employees have a reason to get anxious about the security of their cell phones and invasion of privacy of their personal lives. Employers are now taking advantage of Google that has come up with the latest tool which works as a cell phone spy.

This tool will enable employers to detect movements of their employees outside the office.

Google Maps Coordinate has joined hands with employers to facilitate them with a new cell phone spyware that will be available to them for payment of just $15 a month per employee. The application will allow employers to keep track of the activities of their employees and save them time in giving instructions.

employee tracking tool

All team members can be tracked via a Google Map – image from Google Maps Coordinate

Employers spy with Google Map

Employees will be shown as moving pin-points, monitored by the employers anytime of the day. These pin-points work as a navigation tool to allow employers to track their employees anywhere at any part of the day.

This tracking device comes in handy for companies when they send their employees on outdoor work. Through the use of this application, employers can stay connected to their employees working in the field. However, employers would have a hard time tracking them if the device is switched off. Not only does the device locate people in open air, but it also picks signals inside a building or covered area, reports Daniel Chu, senior product manager, Google.

Service Industry makes the most out of tracking device

Google understands the importance of time. The device helps the service industry perform maximum in a limited time. Mr Chu is hopeful about the success of the device. Chu said employers in the field of financial services, manufacturing, sales and repair services will find the application extremely useful.

Mr Chu gave a demonstration on the use of Google Maps. Suppose an electric company receives a complaint about failure of a powerline in a suburban area quite far from the office. The entire town is out of power and the line repairman would take at least an hour to reach the town – what will you do in such a situation? Google Map comes to your rescue – you can detect the location of a line repairman in the vicinity of the town, contact him and get the job done in minimum time!

iPhone users skip the spy radar

Cell phones have become a basic necessity of life. According to a study done by a research firm, IDC, the number of cell phone users will increase to 1.3 billion by 2015, which accounts for roughly 37% of the employee workforce.

Google assures employees of complete security of their privacy. Employees will be able to switch off their tracking device when they are off duty or during luck breaks. A notification will be shown on their cell phones to inform the user of activation of the tracking device.

However, iPhones and iPads users need not worry, as the device is not compatible to the functions of their cell phones. It operates in Android phones as an Android spyware and monitors every move of the user. But the relief of iPhone users can be short lived as Google is working rigorously to make the app compatible for Apple’s iOS within a year.

Author Bio: Natalia David, an author significantly contributes towards cellspyexpert mobile spy software and android monitoring software. If you want to know more about Natalia you can follow her on twitter @NataliaDavid4.

Should I Work from Home? Pros and Cons

If you’re growing tired of the rat race and yearn to set up your own business, doing something you love and making money from it, you’re far from alone. And in this time of recession, with people still being made redundant left, right and centre, more and more people are choosing to set up shop themselves.

If you’re thinking of doing the same, one question you will probably ask yourself at some point is: should I work from home?

work from home
Image by Jelle Vandebeeck

It’s true that working from home can be enormously beneficial in terms of satisfaction, productivity and time spent with the family, but it is not without its pitfalls. So you need to think long and hard before deciding whether you want to turn a little corner of your house into a home office or workspace and shelling out for office furniture or equipment.

The pros of working from home

No boss

If you’re working from home, you’re either your own boss, or you have permission from your boss to work away from the office. Either way, you don’t have the feeling of someone over your shoulder all the time.

Make your own working hours

Some people are far more productive outside the general office hours of 9-5. If you do your best work early in the morning, or later in the evening, or even in the middle of the night, you have the freedom to set your own hours and work when you’re at your most productive.

Save the environment (and some money!)

If you’re not using you car ever day on that daily commute, you’re helping to cut down on fuel emissions, and reducing your carbon footprint. You’ll also be able to save money, without the cost of petrol or train fares to worry about, or the cost of renting an office.

Spend more time with your family

If you’ve not got a horrendously long commute to worry about every day, it gives you more time to spend with your family. You’ll be able to get the kids ready for school, maybe even walk them to school, and have breakfast as a family in the mornings. And in the evenings, you’ll be there to listen to their stories about their day, and have dinner as a family too.

Work in your pyjamas

If you find you’re much more comfortable in your pyjamas, or tracksuit trousers and a slouchy jumper than you are in tailored work suits, then you’re probably not alone! And if it makes you more productive, there’s no reason why you can’t wear whatever you’re most comfy in when you work from home.

The cons of working from home

Distractions

When you’ve got no boss to worry about and you’re working at your own speed, it’s easy to get distracted. The TV, the cat, making a cup of tea, surfing the Internet…. all of these things can command your attention, making it hard to focus on your projects.

Procrastination

When you make your own hours, it can be very easy to think, “I’ll start in an hour or so”. Then that can quite easily turn into a couple of hours, and before you know it, it’s lunchtime!

Lack of designated work space

Not everyone who works from home is lucky enough to have a home office or workspace. Many people simply don’t have the room. This can make it hard to focus, especially if you have to move, for example if you’re using the family dining table, or if there are other people around during the day.

You can’t get away from it

Unless you are lucky enough to have a designated study, studio or other workspace that you can just shut the door on at the end of the working day, you’ll find it hard to escape your work. And you might also feel that you have to work all hours of the day or night to please clients, particularly if you’re a new business. When you work at home, this is all too easy to do.

Trust signals

Even in today’s age of ecommerce and doing business online, many people still like to see a bricks and mortar shop/office. So not having one of these could be detrimental.

In many cases, working from home can be hugely rewarding, whether you have the option to do so from time to time, or you run your own business. However you do need to be careful to strike the right work-life balance, not let your work impinge on your family life and vice versa, and make sure you maintain a sense of structure. You might need to be strict with yourself in terms of procrastination and the hours you keep too, especially if you’re easily distracted!

Author Bio: If you’re thinking of working from home, it’s a good idea to have a home office, which should be tidy and organised, and allow for maximum productivity. ForMyOffice are a leading supplier of office and home office furniture, as well as lighting and desk accessories for all your office needs.

Should you hire new or experienced talent for your small business?

Let’s talk about some job creation.

Hiring the right employees is a critical component of starting a successful small business. Without the right staff, there’s no way that a small business can grow and thrive into a robust and dynamic enterprise. Entrepreneurs tend to select certain kinds of employees onto their teams when they start a business, namely self-starters—highly motivated and talented individuals who have a passion for their field and a willingness to help achieve the entrepreneur’s vision.

super talent
Image by morrosv7

However small business owners looking to hire are faced with quite a challenge when searching for talented employees: anyone looking for work will try to market themselves as a self-starter and willing to work for a new enterprise. With millions out of work, entrepreneurs have a huge pool of talent to choose from, and that talent comes out in different ways depending on the candidate. Some potential hires have years of experience and obvious talent in their field, and their time-tested expertise could have serious value for a small business. On the other hand there are also some young professionals fresh out of college who have huge potential to grow with a new company and lend their new skills.

This begs the question of who makes a better candidate for a small business, new talent or veteran talent? Let’s consider the options.

Pros and cons of hiring new talent

There’s a lot for entrepreneurs to like when it comes to new talent. Ambitious college grads can make for great employees in any small business because they’re hungry to prove themselves. With little to no prior work experience, these newbies surely know that any employer would be taking a risk by hiring them. That knowledge could play out in a number of advantageous ways for a small business owner. Perhaps the new hire would take more risks in an effort to prove their worth, which could include trying out unorthodox measures to produce results.

Most new talent will come straight from a university, so they approach work from a more academic and theoretical standpoint. That’s both an advantage and a drawback. On the one hand, the new hire might approach a job with more enthusiasm than someone who’s been in the in the industry for years. They can tackle industry problems with a fresh set of eyes unclouded from years of job experience. But at the same time these new hires are the greenest of the green employees—they might contribute a lot to your small business, but you’ll have to show them the ropes of the business along the way.

Pros and cons of hiring veteran talent

Hiring veteran talent is an entirely different story. For veterans in the industry, their assets boil down to one word: experience. And new talent can only do so much to compete against someone with years of hands-on knowledge under their belts.

Let’s say you’re opening a small business in web marketing. As the leader behind the enterprise, you definitely want to hire new talent that understands the digital landscape because they grew up with the web and know it better than older marketers. But you also need seasoned marketing veterans, people who know how to pitch information to people and know how to do it well. The medium of marketing might be different than traditional print marketing, but the same tactics still apply. The veteran marketer would be a much more valuable asset to the company in this example because their experience in the general marketing field can help you determine the best course of action.

You’ve heard what I have to say on the matter, now I want to know what you think. Do you prefer hiring new or seasoned talent for your small business? Let me know!

About the Author: Karen Smith writes online business advice and web marketing strategy for a number of publications. She also writes about online education, particularly how to earn a business degree online. Feel free to send Karen and questions or comments you might have!

Shopping for Digital Goods Online with Ease

As more people buy into the world of mobile devices, e-commerce continues to grow at a steady rate. It is forecast that by 2016, US consumer online retail purchases will increase by 62%. Not only will people be spending more, but there is predicted to be 15% more consumers buying online by 2016 as well. While retailers are thrilled at these prospects, the online digital shopper will be looking for ways to shop that are simple, safe and fun.

Understanding Digital Goods

The possibilities are endless when it comes to the many types of digital goods that are available today. E-books, digital images, music, templates, manuals and software are examples of digital goods. They can easily be purchased through a mobile device or PC. They are also referred to as e-goods or electronic goods.

Digital items can include anything that is used, stored and delivered in an electronic format. These items are usually delivered to the buyer either through an email or a download directly from the Internet. Once payment has been received, the seller will send an email with an attachment of a link where you can safely download the item you purchased.

Advantages to Buying Digital Goods

These days, it seems that everything is going digital. There are many advantages to buying the digital version of a product. Usually, a digital product is cheaper. For example, a music CD in the store can cost anywhere from $10-$20. When you buy the songs digitally, you can decide which songs you want. Also, because the download can take place on your mobile device, you don’t have to try to transfer the files.

Programs that are downloaded can save money on shipping and the hassle of trying to figure out where to store all of the CD’s that you must keep. Textbooks can be accessed from your mobile devices and you don’t have to carry all of the bulky books around. Of course, the #1 advantage of buying digital goods is that you never have to leave your house!

How to be A Smart Digital Shopper

While shopping online is fun, you must always use caution when buying over the Internet – and that includes buying digital products. First of all, you want to do some comparison shopping to make sure you are getting the best price for your products. Secondly, you want to find out what types of payment are accepted. Most vendors are now offering a variety of online payment solutions.

You want to make certain that you use caution when buying online. It’s best to buy from a reputable store. The website should be secure which can be identified by a padlock on the bottom of the screen or by seeing “https” in the address bar. This means that it is a secure site that can’t be seen by others.

Another way to check for safety is to look for a “secure payment” icon. This is a small picture that lets you know what payments are accepted and secure. For example, there may be a small graphic with a padlock that reads “Shop with confidence. Secure website.” Next to that will be a list of the types of payments that can be made securely on that website, such as Visa, PayPal, MasterCard, American Express, etc.

Also, make sure you check out their guarantee policy. While it’s less likely to actually return a digital product, it is important to know what to do if something should go wrong. As a buyer, you have rights, even though you are buying online. If the link or download is faulty, you must know what to do to get a refund or get the correct item.

Enjoy Yourself!

Buying digital products online can be a fun experience. Just as we walk down the aisles of a store, we can browse the Internet from the convenience of our homes. You can compare products, chat with an online support person and even jump to another store to see what they can offer. As long as you take the time to be careful, you will find it to be easy, convenient and even addicting!