Posts tagged ‘Online Stores’

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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The Bible of E-Retailing: Internet Top 500 Guide

April 7th, 2009

Being armed with statistics can give you the edge of need. The Internet Top 500 Guide is published every year by Internet Retailer magazine. We recently reviewed the IRCE, the annual e-retailing convention operated through the magazine. As we mentioned, it’s probably not the convention you need to go to if you are just starting out. Similarly, this “Bible of E-Retailing” may be “too much information”  for now. But it can be fascinating, if you have the extra money to spend (a single-user license is $195.00). Basically, it’s a detailed report, with facts and figures, on the 500 top e-retailers. The magazine describes it like this:

“Each annual edition of this data-rich directory profiles and ranks the 500 largest e-retailing businesses based on their latest annual online revenues. It also provides dozens of metrics on their web sites, including web traffic, conversion rates, number of SKUs, average ticket, growth rates, customer satisfaction and performance ratings, search engine effectiveness, lists of all their vendors, corporate address and top management . The Guide also lists contact information for nearly 2,000 top e-retailing executives.”

So this could become a power tool for you when you are in a position to use it… BTW, according to their 2007 report, who was #1? It comes as no surprise: Amazon. Number two is Staples. (Remember this is their 2007 sample, which you can see here.

(reviewed by www.richdogmillionaire.com)

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