How the On Demand Economy Will Create More Entrepreneurs

on demand economy

on demand economy

With more people working more hours, consumers are becoming more demanding. I don’t mean that in a bad way, but we’re just too busy to be tied down to a time frame. If you don’t believe me, when was the last time your entire family sat down to a scheduled dinnertime? Instead we’ve become an on demand society and an on demand economy.

So, what does that mean for the entrepreneur of the future? More money, more markets, more customers, more products and more services. But they have to be delivered on demand. [Read more...]

A Small Business is a Work in Progress

I currently run five different businesses and I’ve never written a single business plan. I know I’m going to get comments from people who swear you absolutely have to have one. But here’s one thing I’ve learned from running a small business. There is no definitive rulebook.

small business

small business

In looking back on each small business I would have to say that even if I had written a business plan, within a few months it would have completely changed anyway. No matter what I do there seems to be a certain learning curve every time I try something new.

With a brand new invention I thought I knew exactly who my target market was. After all, I invented it for that market. But no matter how many times I knocked on the door, it wouldn’t open. It was only after I experimented with different markets that I finally found the one where the product sold the most and sold almost effortlessly. This would never have been in my business plan because I didn’t even know about it. [Read more...]

How eBay Deals With Counterfeit Products

If you’re going to be a product entrepreneur, sooner or later you will have to deal with counterfeit products. It doesn’t matter if you’re a tiny one item inventor or NIKE, it happens to everyone.

counterfeit products

counterfeit products

The first time I heard about a counterfeiter I looked up “wrist water bottle” on the search engines and found a picture of me wearing my own product on a Chinese website. Since it had a phone number I called them up. When they were trying to sell me my own product they spoke perfect English, until I told them they were selling a counterfeit product and I owned the intellectual property. Suddenly, “no English”.

When I found counterfeiters selling my product on ebay I called up the company to let them know. As a company that deals with multiple people selling everything from used bikes to used chewing gum thrown away by Brittany Spears, they have to keep a handle on counterfeits. [Read more...]

Why Your Company Needs a Rainmaker

If you’ve ever been through a serious drought you know how it feels to get a massive downpour of rain. Companies go through similar droughts, whether through economic hardship, changes in technology, or just general changes in an industry. This is why your company needs a rainmaker.

rainmaker

rainmaker

In American Indian culture the rainmaker is typically a medicine man who would use rituals and incantations to artificially make it rain. This practice still goes on today in some parts of the world. The person who is able to bring the rain is the most valuable person in the tribe.

In business a rainmaker is the person who can bring in new revenue and find new clients. That person is the most valuable person in your company. Because without customers you don’t have a business. [Read more...]

How Your Information Marketing Business Can Survive the Free Economy

information marketing business

information marketing business

When it comes to information, it seems like everything is free these days. Free ebooks, free white papers, free newsletters, free videos, free blogs, and free webinars. Since content is king, the average information guru has to churn out an astronomical amount of content. And not just any content. It has to be well-researched, well-written, top quality content if you want people to read it, share it, and come back for more. And after all that hard work you’re just expected to give it all away for free. Where does it end? And how can your information marketing business survive and thrive in the free economy?

Here are several ways businesses are making money from the free economy:

  • Advertising – Most blogs and newsletters are free. But trust me, they take an enormous amount of time to maintain. That’s time that could be spent at another job making real, cold, hard cash. Even if you don’t count the years of sweat and blood equity someone has invested to gain the knowledge you read in a blog or newsletter, it takes a lot of time to research, write, and edit the blog or newsletter itself. I’ve read comments where people have complained about a blog having ads on it. Really? Bloggers and info producers [Read more...]