Posts tagged ‘E-Retailers’

How to Blog Like Hugh Hefner, Or Build an Internet Business Like That

April 11th, 2009

One of us just finished the biography of Hugh Hefner, Mr Playboy: Hugh Hefner and the American Dream. The key take-way — that kept coming back again and again — is that, Hefner was not only the Editor and Publisher — he was also the demographic. In other words, he was putting together a magazine that HE would want to read. In MORE other words, he built a business that he was passionate about. And THAT is the key to success. Look at McDonald’s: Ray Kroc was not passionate about hamburgers; he was passionate about franchising, and one of his executives was passionate about real estate — the result: a $40 billion business.

What we’re saying is, you need to build a business around something you are passionate about. “Naked girls, sounds good!” Yes, grasshoppers, but look at the situation, Hefner saw the opportunity in 1953 — in a world of Esquire-type mags — for nudity, in a cool, sophisticated way. He wrote a whole Playboy philosophy about it. So what are you passionate about? Yes, it can be sexual, but what opportunity can you find today, in 2009? If you blog about your passion — or if you build an e-retail site about your passion — you are automatically WAY AHEAD of your competition, if they are just thinking of it as a way to make bucks. You will eventually make more bucks because you will attract those who have the same passion as you. You will have no problem blogging about your topic late at night, after work (or adding another product to your online store) because you like — love — doing it, just like your readers/customers love it.

Expertise — and eventual success — is simply, ultimately, the result of passion.

(original content by www.richdogmillionaire.com)

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Book Review: “The E-Myth Revisted”… And Why Most Internet Businesses Will Fail

April 8th, 2009

“The E-Myth” books by Michael E. Gerber are not generally internet-biz oriented but the series has been among the best-selling business books in years. Do you know what the “E-Myth” is? Basically, it’s the fatal assumption that many, if not most, entrepreneurs have, in starting up and running their business. The assumption is that: knowing the job equals knowing the business. In other words, consider a character that Gerber introduces to us, in “E-Myth Revisited”: Sarah, who is an expert at baking pies. She assumes that, because she knows the techincal side of the business — baking pies — she knows the most important part of the pie business. But she doesn’t, not even close. Just because you know how to set up a website, or you are pretty good with Adwords, doesn’t mean you know how to run an internet business. Another point Gerber says: “If your business depends on you, you don’t own a business, you have a job.” This is also what Tim Ferris was saying in his great book, reviewed here, about the importance of automation.

The way Gerber explains automation is through the model of franchising. Eighty-percent of all new businesses fail within the first five years, 75% of all business-formatted franchises SUCCEED. Franchises concentrate on building a business SYSTEM that can operate automatically — and autonomously — without you having to be there, and it can be expanded — and duplicated — which is what empires are made of. Consider Sarah’s pies — and consider the McDonald’s Big Mac. Is McDonald’s Big Mac the best, tastiest hamburger ever? Most would say no — but McDonald’s is a $40 billion a year business, with nearly 30,000 restaurants in 120 countries.

So look at it this way, whether you are a blogger or internet retailer or any other internet entrepreneur: If you want to grow and build a successful business, what can you learn from McDonald’s and others? Nobody else is talking about this today in “cyber world.” For these reasons, we recommend: The E-Myth Revisited: Why Most Small Businesses Don’t Work and What to Do About It

 

(reviewed by www.richdogmillionaire.com)

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Automation: Pro-Selling on Amazon Made Easy

March 23rd, 2009

We’re big fans of automation — it’s all about maximizing your profits and minimizing your labor and expenses. There are a lot of small — and not so small — businesses selling on Amazon. (Ever see the option to buy used copies of a book you’re looking at on Amazon? — there’s a substantial business there.) It’s time for our inaugural “Automation” post : SellerEngine specializes in third-party software for entrepreneurs who sell product on Amazon. Here is info on “SellerEngine Plus” (quoted from their site):

**If you are an Amazon ProMerchant selling books and media, SellerEngine Plus offers the tools and the speed you need to price competitively and keep all your listings up to date.

**Enter your listings quickly and accurately by downloading your listings directly from Amazon, scanning them in using templates, or importing from files. SellerEngine Plus automaticaly retrieves the available information for the items from Amazon as you enter them, saving you hours!

**Our customizable, information-packed interface makes it easy to see at-a-glance not only all the details for your listings, but also what the competition is up to. When you need to make the same change to many items, you can edit them all at once in SellerEngine Plus!

**The proof is in the pricing! Use our Reprice Rules Wizard to create pricing strategies for the different segments of your inventory. Run price checks in real time, and use our price check status flags and the retrieved competitive information to be confident you have priced your items for maximum profitability!

**SellerEngine Plus puts you in control of your listings. Create your listings locally, and then upload directly to the Amazon Marketplace through SellerEngine Plus, when you are ready! Our orders retrieval system keeps your listings synchronized, so that you won’t accidentally create double listings.

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Do You Need to Go to IRCE?

March 7th, 2009

IRCE stands for the Internet Retailer Conference and Exhibition, the major trade show for E-retailers. It is being held June 15-18 at the Boston Convention Center. There is definitely a culture split in the internet business: there is the corporate internet world — ebay.com, Target.com, Overstock.com,  Meijers, Kohl’s — you get the idea. Then there are us scruffy guys — upstarts, guerillas, part-timers, millionaires-to-be. IRCE is corporate. It’s THE trade show for E-retailers but it’s overkill if you’re just starting out and working on the basics of building your empire. There are separate “tracks” you can attend. There is a Track B: Corporate Management and a Trade D: Small Retailers (as well as tracks for Operations, Marketing…) But judging from the conferences and workshops “Small Retailers” is for “Mid-size Retailers” in our humble opinion. (workshops like negotiating with vendors, how to right-size your fulfillment center — fullfillment center?! You mean our garage?). Unless you are mid-sized, Worldwide Brands is a great solution, at least to start.  One interesting note: the founders of www.zazzle.com are scheduled to speak. We’ll talk about them in a future post. (But keep this is mind: Zazzle is not a “small retailer” — the Google founders invested $16 million in the company.)

Of course, one day, you may find you have built an empire, and you — or your employees — will need to attend — or exhibit — at this trade show. But for now, just be aware of it — for later. If you do wanna go now, go to www.IRCE.com. The standard 2-Day Conference and workshops pass is $1,295 (early bird special $1,195 before April 1).  But like we said, we’d rather invest that two grand into a smart Google Adwords campaign, so we will have much more money to attend later on, if we wanna.

(Original content by www.richdogmillionaire.com)

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