6 guaranteed ways to fail as an online entrepreneur

The road to riches doesn’t come easy for most people. It takes a lot of work to start your own business and live off your income. But the goal of an entrepreneur is to make more than enough to survive. They want to keep growing until the business becomes huge. Provide the world with something it’s never seen before. There are things you can do to help achieve your dreams, and there’s definitely things you can do to mess your chances up. Here’s 6 ways to make sure you fail as an online entrepreneur.

Don’t listen to customers

Who cares what your customer wants? Not you. The only person that knows what is best for them is you. If they ask you to build a certain product you should only do it if you were going to anyway. If not, you should definitely press ahead with what you had in mind. It’s your dream to be an entrepreneur. That means you don’t want to waste your time giving people what they want. They will still buy whatever you are selling.

Treat them like crap

Who do they think they are disturbing you with their questions? It’s just plain rude. Email people back whenever you want. The longer you leave it the better. Let them sweat a little. That will teach them for wanting help. If you speak to them on the phone you don’t want to seem nice. You’re not here to be nice. Only to make money. The only person you should have a good relationship with is your bank manager.

Keep them guessing

Don’t always speak about the same things and definitely don’t sell the same line of products. You want them to keep guessing as much as possible. It’s all just a big game anyway. They will enjoy it much more if they don’t know what to expect. The last thing you want to do is have a schedule. That means people know what you’re up to. They can spy on you. That’s weird. Stay as secretive as possible.

Who cares about what you write?

You know what you want to tell them. Write it any way you feel like it. It’s not as if you are still in college. Why should you care about spelling and grammar. Unless they are completely stupid they will be able to work out what you want to say. If they can’t then do you really want them as customers? They’ll probably just ask for a refund anyway. If you try to write properly you won’t be able to go as fast. You should be on the beach. Not typing.

Lie about your products

How can you expect to become a millionaire if you tell the truth? You’ll make a lot less sales. Just fill your sales page with as much made-up crap as you want. You can even do it with your product. Who cares if it doesn’t look like what you said? Information doesn’t need to be correct. By the time they find out it’s lies it will be too late to get a refund. Even if they do, most people won’t bother.

Spread rumors about your competitors

It’s a dangerous world out there. Everyone has to look after themselves. Your competitors are mortal enemies. The only way you can bring them down to size is by chopping them with an axe. Find out who their friends are and spread nasty rumors about them. Leave horrible comments on their website. Try your best to burn them into the ground. Then send them a message telling them it was you and laugh at them.

About the author: John Spooner is a remarkable Entrepreneur; best known for his leadership work. He loves sharing tips about business improvisation and growth with the help of his blog.

How to generate more pledges on Kickstarter with the right incentives

Kickstarter is a rather revolutionary online service that has ‘kicked off’ in a big way over the last year or so. The basic idea behind this service is to enable people to ‘crowdsource’ funding meaning that they can rely on the helpful denizens of the internet in order to raise their money.

In other words then, if you have a brilliant idea for an invention that no one has come up with before, then normally you’ll need some funding in order to get that idea off the ground and up and running. From here you will then normally go ahead and look around for investment from a bank, from an angel or by forming a public company. With Kickstarter however you can simply show off your idea online and then hope that people will get behind it and hope that enough people are interested and offer you funding. In short then, you are asking not one person or organization for a thousand dollars, but instead several hundred individuals for just a couple of dollars in order to see your project become a reality.

Incentive

Of course though not any old lame idea is going to get funding on Kickstarter, and even some of the very cool ones can sometimes struggle to get backing. The point here is that you need to give the users of Kickstarter an incentive to pledge and to want to help you. In some rare cases if your creation is amazing enough then you might find that people are willing to help fund the project just simply to ensure that it becomes a reality. In other cases though, that’s not going to be enough and they’ll want some more concrete reward for their input.

To this end, most listings on Kickstarter will have a hierarchy of rewards for people who pledge certain amounts – to ensure that they encourage people to invest more but still have an option for those who don’t want to break the bank.

The incentives that these projects offer then can include the following:

Discounted Product: For someone who is interested in buying your product when it’s finished, then paying two dollars toward the construction in order to get a $10 discount later down the line is a good investment and a tempting offer.

Free Products: Of course though for someone willing to pledge the cost of the product or more even, getting one or more free copies of your product or free entry to your event etc. is another good reason to get involved.

Credit: People are innately vein, and love seeing their name in lights. As such then the promise of being in the end credits of a small film or game, or being mentioned at the start of a book or in the ‘special thanks’ in an instruction manual can be enough incentive to get involved.

Tribute: Or even better, imagine that you help to fund a small film production and as a result don’t just get named in the film but in get to name one of the characters, or even get your own name into the film. This can be such a buzz for some people that they’ll be willing to spend large amounts of money.

Involvement: Of course the next step up from that is for the person to actually be involved in the creation. A film or game lends itself perfectly to this kind of incentive because you can get the person to cameo or include their likeness. For a product or gadget though you could give them the opportunity to help decide on the colour scheme or to make a request for a feature. If you can somehow involve them in the creation then they will feel like they’re a part of the proceedings and they’ll probably help to promote the product after launch too.

Profits: This is the final and most obvious incentive – if you are willing to give up a percentage of the profits then of course this then offers a business opportunity for people online who fancy themselves as Dragons and this can get you a large contribution if they believe in your idea.

About the author: Sara Brown is a sucessful business author and contributes numerous articles on manufacturing ideas for small businesses. She provides some of the most interesting facts about manufacturing products on the mentioned website contract manufacturing bay area.

Checks to consider before pouncing on business for sale

We all would have seen signage citing “Business for sale”. It could be across any sectors, across all industries. Growth for a company in any industry can come from only two sources. One is organic growth, where the company uses its products to build up more customer base and in turn, generate more revenue. There is the other source of growth, or the inorganic growth mode. Here companies buy up business for sale and expand their product portfolios. This too could lead them to generating higher revenues. Mentioning below are the important checks that should be made while considering buying a business that is for sale:

1. Stock: This refers to all products and stuffs stored for resale. You or your qualified representative must be present when these businesses for sale are clearing up their inventory. You should understand the position of stock, what’s on hand and what was in stock at the end of the last financial year and the one before that. Have the stock appraised. This is a firm asset and you need to know the value to assign it. You could bet a bank such as a Massachusetts bank to value the business. Also, check the how old is it? Its quality, condition etc! Affirming the value often inventory is a subject of negotiation.

2. Furniture, equipments and structure: This encompasses all products, equipments and assets. Get a listing that accepts the make and model number of each equipment. Then determine its present shape, market value when purchased versus present market value, and whether it was bought or rented. Learn the changes you have to do to the structure or layout so as to suit your needs.

3. Contract copies and legal documents: These legal papers must include all hire and purchase agreements, distribution arrangements, subcontractor agreements, sales and union contracts, employment agreements and any other instruments that can lawfully hold the transferable business. All real estate papers if you are considering taking his land for a lease. Find out whether it is transferable, etc.

4. Financial statements for the past 5 years: Evaluate these statements, taking on all records and financial records. This is very important for learning the earning ability of the business.