eCommerce Trends: How Online Storefronts Provide Options for Business Online

Thanks to new online technologies, the Internet now affords everyone an opportunity for profits. One of the latest business trends on the Internet is something called Effortless Commerce, an integrated, turnkey managed eCommerce solution that enables even those folks who don't have their own websites to sell and deliver content to a worldwide audience. The technology enables people to profit from their content who otherwise could not easily do so. They can literally create a product, put it on a storefront for sale, and make profits.

Electronic commerce, commonly known as e-commerce or eCommerce, consists of the buying and selling of products or services over electronic systems such as the Internet.

Let's say you are a personal trainer who has a new DVD to sell, or a young aspired musician with the latest music that you would like to get out to the world. Spending money for a website is not possible. You have explored the route of getting a manager and sales team to sell your product into retail stores, but this cuts into the percent of profits that you could make. Where can you turn?

The amount of trade conducted electronically has grown dramatically since the wide introduction of the Internet. The Census Bureau of the US Department of Commerce estimated that U.S. retail e-commerce sales for the second quarter of 2007 was $33.6 billion, an increase of 6.4 percent (0.8%) from the first quarter of 2007.

Online storefront using Effortless Commerce requires no coding or technical expertise. People have the option to offer products in downloadable formats so that their customers can purchase physical disks, digital downloads, or both. Their online store will automatically display options in the local language and currency for visitors; provides automated calculation for taxes, filing, and also payment; has special pricing for content suppliers; editing, and graphic design services; uses an On Demand Production Engine whereby CD/DVD products are manufactured upon purchase with zero inventory; offers automated order processing ... everything happens automatically and on time, from the time of purchase until shipping products; multiple shipping methods and delivery globally; provides email notifications to customers with shipping confirmations and tracking numbers; and features automatic payment.

Another trend in online business is a new phenomenon called pretailing, which Garter says, "consists of the multi-channel shopping activities consumers do before they even visit a retailer's Web site or local store. Pretailing will increase in importance as consumers get access to more retail information and services on the Internet." (Source: Gartner Group, 28 February 2007)

And if you don't think that eCommerce is important enough to the global economy, according to the PriceWaterhouseCoopers' Global Entertainment and Media Outlook 2006-2010, online advertising spend predictions will reach $26 billion by the year 2010.

Common Mistakes on the Personal Statement and How to Avoid Them

Careless Errors

There is really no excuse for careless errors, and having even one in your application can affect the way you are perceived. You have more than enough time to proofread and have others look over your essay. If an error slips through, your readers may assume that you are careless, disorganized, or not serious enough about your application.

Remember that spell check does not catch all possible errors, and even grammar check is far from perfect. In addition to typographical errors such as repeated words, you have to read the essay carefully to catch mistakes in meaning that might come in the form of a grammatically correct sentence.

Let these humorous but unfortunate examples be a lesson to read your essay carefully for unintended meanings and meaningless sentences:
-It was like getting admitted to an Ivory League school.
-Berkeley has a reputation of breeding nationalists and communists.
-I'd like to attend a college where I can expose myself to many diverse people.
-I was totally free except for the rules.
-In a word, the experience taught me the importance of dedication, friendship, and goals.
-I have an extensive knowledge of the value of intelligence.
-I envy people with a lot of time in their hands.

Vague Generalities

The most egregious generalizations are the ones that have been used so many times that they have become clichés. For example, "I learned the value of hard work." That statement doesn't tell us anything insightful or interesting about the writer's character, because it has been said so many times as to become meaningless.

Generalities come in the same form as clichés, except with different content. They are always superficial and usually unoriginal, but haven't quite reached the level of predictability that would make them qualify as clichés. Consider this before-and-after set to learn how to evaluate this factor in your writing:

Before: In the first project I managed, I learned many valuable lessons about the importance of teamwork.

After: In the first project I managed, I made an effort to incorporate all my colleagues as equal members of a team, soliciting their feedback and deferring to their expertise as needed.

Terms like "valuable lessons" and "teamwork" are vague and do not really convey anything meaningful about the applicant's experience. In contrast, the revised version explains the team dynamic in more detail, showing specifically how the applicant exercised teamwork principles. The passage should go on to include even more detail, perhaps by naming a particular colleague and discussing his interaction with that person.
Sounding contrived is a problem related to overly general writing. Applicants often have preconceived notions about what they should be discussing, and they try to force those points onto the experiences they relate. The best way to counteract this tendency is to start with your experiences and let the insights flow from there. Think about your most meaningful experiences and describe them honestly. Often you will find that you don't need to impose conclusions because the personal qualities you're trying to demonstrate will be inherent in the details. If you decide that clarification is necessary, the transition should still be natural.

Summarizing Your Resume

Perhaps the most common personal statement blunder is to write an expository resume of your background and experience. This is not to say that the schools are not interested in your accomplishments. However, other portions of your application will provide this information, and the reader does not want to read your life story in narrative form. Strive for depth, not breadth. An effective personal statement will focus on one or two specific themes, incidents, or points. Trying to cram too much into your essay will end up in nothing meaningful being conveyed.

"A straight autobiography should be avoided, although interesting and pertinent autobiographical facts should be included. But the statement should be more future-oriented than past-oriented. I don't really want the story of a student's life but rather plans for and a vision of the future."
-Graduate English Department, UCLA

Sensitive Topics

Don't get on a soapbox and preach to the reader; while expressing your values and opinions is fine, avoid coming across as fanatical or extreme. Avoid mentioning subjects that are potentially controversial; it is impossible for you to know the biases of members of various admissions committees. Religion and politics normally don't belong in these statements, although there may be exceptions (an applicant who has held an important office on campus or in the community would likely want to include this fact). Personal political views usually are not appropriate for personal statements. Any views that might be interpreted as strange or highly unconventional should also be omitted because you want to avoid the possibility of offending any of the individuals in whose hands the fate of your graduate school application rests.

Gimmicks

Don't use a gimmicky style or format. Your "clever" or "original" idea for style probably isn't, and it may not be appreciated.
"Avoid cuteness; we've had people who have done career statements in the form of a miniplay, for example. You want to sound like a professional."
-The Woodrow Wilson School of Public and International Affairs, Princeton University
Long-Windedness

Sometimes the same writer who relies too heavily on generalizations will also provide too many irrelevant details. That's why most essays submitted to EssayEdge are returned with significantly reduced word counts and, conversely, suggestions for additions. The problem is that writers often don't consider what is actually necessary to include, or they repeat points freely.
Example of Irrelevant Detail: "After a meeting with my adviser, I returned home to think over the matter more carefully. Ultimately, I came to the conclusion that my interests in physical properties and mental life would best be explored in a double major of biology and psychology."

In this example, we learn nothing about the applicant from the mention of his meeting with an adviser. What's relevant are his interests and the decision he made based on them. The details about how he arrived at the decision are not illustrative of his character in any way and are therefore superfluous.

Example of Redundancy: "The class taught me a great deal about the value of literature. I learned that literature can both instruct and inspire, and this understanding has changed the way I read every text."
The first sentence is unnecessary because the second sentence makes the same point with more specificity.
In addition to superfluous content, you also have to watch out for wordy writing. Wordiness not only takes up valuable space, but it also can confuse the important ideas you're trying to convey. Short sentences are more forceful because they are direct and to the point.

Before: "My recognition of the fact that the project was finally over was a deeply satisfying moment that will forever linger in my memory."

After: "Completing the project at last gave me an enduring sense of fulfillment."

Certain phrases such as "the fact that" are usually unnecessary. Notice how the revised version focuses on active verbs rather than forms of "to be" and adverbs and adjectives.

Big Words
Using longer, fancier words does not make you sound more intelligent, since anyone can consult a thesaurus. Simpler language is almost always preferable, as it demonstrates your ability to think and express yourself clearly.

Before: "Although I did a plethora of activities in college, my assiduous efforts enabled me to succeed."

After: "Although I juggled many activities in college, I succeeded through persistent work."

Be mindful of the common pitfalls associated with writing the Personal Statement. By developing a well written statement, admission committees will take notice and you’ll stand out from the crowd.

8 Mistakes to Avoid When Naming a Business

If it's off, the rest of the building is off, and the misalignment becomes amplified. So if you have that gnawing sense that choosing a name for your new business is vitally important - you're right. With 18 years in the naming and branding business, I've witnessed the good, the bad, and the really bad. Here's how you can avoid the worst of the mistakes and get off to a good start.

Mistake 1: The Committee (Getting all your clients, employees and family members involved)

We live in a democratic society and it seems like the right thing to do - involving everyone in an important decision. This approach, however, presents a few problems. The first and most obvious fact is that you will end up choosing only one name - so you risk alienating the very people you are trying to involve. Second, you often end up with a consensus decision, resulting in a very safe and very vanilla name. A better method is to involve only the key decision makers, the fewer the better, and select only the people you feel have the company's best interests at heart. The need for personal recognition can skew results - so you are best served by those who can park their egos at the door. Also, make sure you have some right brain types in the mix. Too many left brains and the name often ends up too literal and descriptive.

Mistake 2: The Train Wreck (Taking two words and colliding them head on)

When forced to come up with a creative name, many aspiring entrepreneurs will simply take part of an adjective and weld it onto a noun. The results are names that have a certain twisted rationale to them, but look and sound awful. Someone starting a high-end service franchise then becomes QualiServe. It's a bit like mixing chocolate syrup with ketchup - nothing wrong with either, but they just don't go together. Other common truncations include Ameri, Tech, Corp, Tron, etc. The problem with this approach is that it's simply forced � and it sounds that way.

Mistake 3: Where's Waldo? (Names so plain they'll never stand out in a crowd)

The first company in a category can get away with this one. Hence, you have General Motors, General Electric, etc. But once you have competition, it requires differentiation. Imagine if Yahoo! had come out as GeneralInternetDirectory.com? It would be much more descriptive, but hardly memorable. And with the onslaught of new media and advertising channels, it's more important than ever to carve out your niche by displaying your uniqueness. Nothing does that better than a well-conceived name.

Mistake 4: The Atlas Approach (Using a map to name your company)

In the zeal to start a new company, many businesses choose to use their city, state or region as part of their name. While this may actually help in the beginning, it often becomes a hindrance as a company grows. One client came to me with complaints he was serving more of the market than his name implied. He had aptly called it St. Pete Plumbing since he hailed from St. Petersburg, Florida. But yellow page shoppers assumed that was also his entire service area. With a little creative tinkering we changed the image of St. Pete from a city to the image of St. Pete himself, complete with wings and a plumber's wrench. The new tag line? "We work miracles!"

Other companies have struggled with the same issue. Minnesota Manufacturing and Mining was growing beyond their industry and their state. To avoid limiting their growth they became 3M, a company now known for innovation. Kentucky Fried Chicken is now KFC, de-emphasizing the regional nature of the original name. Both of these companies made strategic moves to avoid stifling their growth. Learn from them and you can avoid this potential bottleneck.

Mistake 5: Cliche' You Say? (A good name is worth a thousand words)

Once past the literal, descriptive stage, the thought process usually turns to metaphors. These can be great if they are not overly used to the point of trite. Since many companies think of themselves as the top in their industry, the world is full of names like Summit, Apex, Pinnacle, Peak, etc. While there is nothing inherently wrong with these names, they are just overworked. Look for combinations of positive words and metaphors and you will be much better served. A good example is the Fortune 1000 data storage company Iron Mountain, which conveys strength and security without sounding commonplace.

Mistake 6: Hide the Meaning (Make it so obscure, the customer will never know!)

It's great for a name to have a special meaning or significance. It sets up a story that can be used to tell the company message. But if the reference is too obscure and too hard to spell and pronounce, you may never have the opportunity to speak to that customer. They will simply pass you by as irrelevant. So resist the urge to name your company after the mythical Greek god of fast service or the Latin phrase for "We're number one!" If a name has a natural, intuitive sound and a special meaning, it can work. If it's too complex and puzzling, it will remain a mystery to your customers. This is especially true if you are reaching out to a mass audience.

I pushed the envelope a little on this one myself, naming my branding firm Tungsten, after the metal that Thomas Edison used to create brilliant light. However, my clientele consists of knowledgeable professionals who appreciate a good metaphor and expect a branding firm to have a story behind its name. It's also a way to differentiate my services (illuminated, bright, brilliant). So while it works for a branding firm, it would not do well as an ice cream parlor.

Mistake 7: The Campbell's Approach (Using alphabet soup to name your firm)

This is a trend that is thankfully wearing off. Driven by the need for a matching domain name, many companies have resorted to awkwardly constructed or purposefully misspelled names. The results are company names that sound more like prescription drugs than real life businesses. Mistake 2 sometimes gets combined with this one and results in a name like KwaliTronix (or worse - mistakes 2, 4 ... 7, resulting in KwalTronixUSA). It's amazing how good some names begin to sound after searching for available domain names all night. But resist the urge. Avoid using a "K" in place of a "Q" or a "Ph" in place of an "F." This makes spelling the name and locating you on the Internet all that much harder.

It's not that coined or invented names cannot work; they often do. Take for example, Xerox or Kodak. But keep it mind, names like these have no intrinsic or linguistic meaning, so they rely heavily on advertising � and that gets expensive. Many of the companies that use this approach were either first in category or had large marketing budgets. Verizon spent millions on their rebranding effort. So did Accenture. So check your pocketbook before you check into these types of names.

Mistake 8: Sit On It. (When in doubt, make no change at all)

Many business owners know they have a problem with their name and just hope it will somehow magically resolve itself. The original name for one of my clients was "Portables," which reminded some people of the outdoor restrooms or the portable classrooms - neither one a good association. This added to the confusion when phone operators tried to explain their new concept of moving and storage. After some careful tweaking, we came up with the name PODS, an acronym for Portable On Demand Storage. The rest is quickly becoming history as they expand both nationally and internationally. Peter Warhust, President and one of the original founders states, "For the record, changing our name to PODS was one of the best moves we ever made."

Exercise Experience, a former Florida-based company, was frequently confused with a health club. In reality, they sold very high-end fitness equipment. This brings up a very key point - it's better to have a name that gives no impression than a name that gives a wrong impression. Much of the ad budget we spent on Exercise Experience was used to clarify that they sold fitness equipment. This was valuable airtime that could have been put to better use selling the equipment rather than explaining the business. Ultimately, the company folded. It's not to say it was solely because of the name, but I believe it was a factor.

Mike Harper of Huntington Beach, CA, bought a thirty-year-old janitorial and building maintenance company named Regency. We both agreed it sounded more like a downtown movie theatre than a progressive facilities management firm. After a thorough naming search, we developed the name Spruce Facilities Management. Spruce not only conveyed the environmentally friendly image of a spruce tree (something important to the client), it also meant, "to clean up." The new tag line fell right in place Spruce "The Everclean Company."

It's only a matter of time before Southwest Airlines and Burlington Coat Factory and others who have successfully outgrown their original markets begin to question their positioning. Much like 3M and KFC, they may need to make a change to keep pace with their growth and image.

In the fever to start your new business or expand a current one, take time to think through some of these issues. According to the late Henry Ford, "Thinking is the hardest work there is, which is probably the reason why so few engage in it." Albert Einstein took it one step further claiming, "Imagination is more important than knowledge." By tapping into your creativity and avoiding these potential pitfalls, you'll be able to create a name that works both short and long term � one that allows for future growth. Like the original cornerstone of a building, it will support upward expansion as your company reaches new heights.

Negotiation Skills Training: The Sales Multiplier Close

The company must have offered some free gift my wife wanted to get us to agree to an appointment.

On the appointed day and time a salesman was at our front door with a vacuum cleaner and some other stuff.

He sets up his vacuum on our living room carpet. This was about 20 years ago so I don’t remember all the specific details. I do remember he put some dirt on our carpet and showed us how well his vacuum cleaned it up. Then he vacuumed a section of our carpet that already looked clean. But when he showed us how much dirt it picked up from the clean section my wife and I were surprised.

When he told us the price of the vacuum cleaner we were even more surprised. I didn’t think they even made vacuums that expensive. We told him that was more money than we had budgeted for a vacuum cleaner. “No problem,” he said he had an affordable monthly payment plan we could take advantage of.

I told him I didn’t feel comfortable with the idea of making payments on a vacuum cleaner. “No problem,” he said again. He had a bird dog referral plan we could take advantage of.

Then he got out a sheet of paper with 10 lines on it. He asked us to write down 10 of our friends who we though might also like a good quality vacuum. He said he would call on them and for each one he sold he would send us a bird dog rewards check for the referral. He explained we could put that money toward our payments.

I thought, “What a great bird dog close.” The customer gets help with their payments and the salesperson multiplies his sales.

In negotiation skills training I teach salespeople negotiation skills that create win-win results. It’s sales training with integrity. Assuming it’s a product the customer wants the bird dog close is a great win-win solution.

Your negotiation skills training action item:
If you want a big jump in your referral leads, my sales advice is, start using the bird dog close and make everyone happy.

How to Take Your Customer’s Money

For a publisher to be able to achieve the goal of multiple revenue streams, it will have to integrate payment processing into its site. This will enable the site to sell products and services (such as downloadable reports and software, branded merchandise, software, etc), charge subscription fees for access to premium content and promote and sell events (seminars, webinars, courses, etc.). This can be a torturous process unless you know what you are doing.

This is a quick guide to getting started, based on my experience of launching sites all over the world, including the U.S. and the U.K.

Ways of Taking Money

The first task you will need to undertake is setting up the means to process the payments. There are essentially three ways to do this:

• An online payment provider such as PayPal or Google Checkout

• A payment service provider (PSP) such as WorldPay, Patrasys or NetBanx

• A combination of a payment gateway and a merchant service account

I will quickly go through the pros and cons of all three.

Online Payment Provider

PayPal is the world's biggest online payment provider. Most people on the Internet have either used PayPal or are familiar with the service it offers. PayPal enables an individual to receive a payment from a customer by credit card. PayPal manages the transaction from the time a credit card number is entered into a website to the time the money is deposited in your bank account.

Pros

• Simple and cheap to set up

• High acceptance rate of new clients

• Global

• Improving all the time; customers without a PayPal account can still pay you through PayPal

Cons

• A nasty habit of freezing clients' accounts, and it can be tricky to get them reactivated

• Very poor customer service

• Perception that PayPal is a service associated with ‘cheap' websites; this is changing as PayPal launches new services and has started to appear on bigger e-commerce websites

Google Checkout is an alternative, but it is years behind PayPal. It is worth keeping an eye on.

Payment Service Providers

PSPs are similar to PayPal. They manage the whole transaction from the credit card being inputted into a site to the funds being deposited in your bank account. The biggest PSP is WorldPay (http://www.worldpay.com). Others include SecPay (http://www.secpay.com), Netbanx (http://www.netbanx.com) and Patrasys (http://www.patrasys.com).

Pros

• Single provider takes care of the end-to-end transaction process

• High acceptance rate of new clients

• Generally good customer service

Cons

• Very expensive set-up and transaction fees

• Difficult set-up and integration

• Often hold funds for up to 60 days, which can kill cash flow for a small business

Payment Gateway with Merchant Service Account

All major banks have a merchant service division which is responsible for enabling clients to process credit cards. These are called merchant service providers. If you go to your bank and say that you want to start accepting credit cards on your website, they will point you in the right direction. Once you have a merchant service account, you need to have a payment gateway. This is a service that enables the transaction to take place on your site. It checks that the credit card is valid, checks for fraud and verifies all the personal details. Most banks try to sell website owners both their merchant service account and their gateway product. In my experience, bank-provided gateways are clunky, hard to integrate and very expensive. There are far better services in the market. In the U.K., I use Protx (http://www.protx.com) and in the U.S., Authorize.net (http://www.authorize.net).

Pros

• Cheapest transaction rates

• Rapid transfer of funds into your account

• Good customer support from most banks

Cons

• It can be very hard for new businesses with no trading record to get a merchant account.

• There can be problems getting a gateway and merchant service account to work together.

• Banks can be reluctant to allow annual subscriptions.

My Recommendation

If you are starting a new business with no trading record, my recommendation is to use PayPal to get started. Once you have a trading record, go to your bank and apply for a merchant services account. If you get one, then switch to processing payments through this account and a cheap gateway service.

How To Have Success With A Home Business

1) Have A Goal

The most successful minds in history have always set goals for themselves. Don't just set them, but write them down and hang them somewhere of prominence where you can refer to them often. Set a long term goal and then short term goals that will lead you to your long term goal. Set a time limit for all of your goals. Evaluate your progress often.

2) Prioritize Your Day

Make a list at the beginning of each day of the most important things that you need to accomplish that day. Go through the list systematically and complete each task in its entirety. When the day is over, go back through your list and make sure that all of the items were completed. If not, place them at the top of your list for the next day. Prioritizing your day will make your time more productive.

3) Schedule Breaks

You need time during the day for yourself. Make breaks a part of your daily routine. Fit them into your day and limit them to a time that works for you. Make sure that you are getting enough hydration and nutrition. This will be vital to your mind clarity and productivity. Allowing yourself breaks will help motivate you to complete your next tasks.

4) Avoid Distractions

While it is important for your productivity to take adequate breaks, it is also just as important to avoid potentially hazardous distractions. When working from home it is so easy to get wrapped up in a phone call with a friend, a television program, or personal chores. Allow time for these things in your personal time, but make sure that they are not creeping into your business day. They will only pull you in and thus make your day less productive.

5) Enjoy Yourself

Enjoy what you're doing. The likelihood that you are a focused and driven personality type is very high if you have chosen to work from home. Just remember to not take yourself too seriously, relax, and have fun at what it is you're doing. If you like making others successful as well, focus on how the task you're completing will help them.

6) Have A Mentor

Don't just go into this new endeavor alone. Find someone who has been or is currently successful from home and ask them if they will mentor you. Some of your best advice and guidance could come from someone who has already gone through what you are.

7) Create Balance

People who work from home above all need balance. Allow yourself time for your family and hobbies. You may think that you are using your time frivolously, but really you are rejuvenating yourself to work more efficiently. If you don't allow yourself time for enjoyable activities, you will burn yourself out. Entrepreneurs who have balance between work and their personal life end up being the most productive in the end. So take that long walk or go out to dinner. You will have balance and enjoyment in your life and business endeavors if you allow time for yourself and things that you love.

Small business tips for hiring a contracting company

The Basics

Set up a meeting with the contractor in person to discuss your needs. Not only does this allow you to better assess the character of the contractor, but it also allows the contractor to better assess your property and services that you will require. Upon your introduction to the contractor, take notice if they meet the following: English speaking, punctual, professionally courteous, and if they are taking notes when you speak to them about your concerns. These basics of business practice reflect much of what you can in regards to the service you will receive from the contractor. For example, if a contractor is not taking notes when you are speaking to them about your needs and concerns about the property, they may likely not be prepared for a job and charge you more money in the long run for multiple site visits and repairs.

Ask for references

Potential contractors should provide at least 3 references to you who can vouch for the quality of their service. When contacting the references, be sure to ask them to rate the following aspects of service on a scale of (1-10) along with a reason why: Punctuality, Competency/Knowledge, Pricing, Reliability, Emergency Response Time, and their Overall rating.

Digging Deeper

Ask the contractor if they practice preventative maintenance. Costs can be greatly reduced by using a contractor who will take the time to prevent problems before they occur. This includes lubrication, leakage checks, wiring checks, and testing of major systems in your facility.

Make sure the contractor provides an estimate in writing. This is very important so that no hidden costs or fees are sprung on you in your final bill. Be sure that the estimate clearly defines the work to be completed and includes all aspects of work that you require.

Subcontracting

Companies that subcontract more than 5% of their work are going to cost you more money than they will save you. This is very important aspect if you are hiring a company that will mantain your property from top to bottom.

Still having doubts? Get a second opinion!

Many contractors say you need a complete system overhaul when something major happens in your building. The truth is that many times a loose wire or belt could be replaced and could save you tons. The best way to check to see if you are being taken advantage of is to call another contractor for a free job estimate.