Essential Reminders for Small Business Owners in the 2011 New Year

All of us who are planning to start or expand a small internet business in the 2011 New Year need to remember some important issues and points of concern for quality long-term success.

The first thing we all need to do is to think very carefully about what we want – the kind of business we intent to start or expand. Too many times, some of us will rush to start a business and then discover that it is not what we really wanted. Careful mental analysis or a thoughtful approach to our business intentions is absolutely necessary.

How we will finance the start-up of the business is equally important. Some of us will use savings generated from the past year or years. Others will seek a business grant from a friend or family, for example. Some will seek a small business loan from a friend, family or financial institution of choice – such as a bank, credit union, investment entity and others. Whatever method we choose, this must be done in a very professional and responsible manner. For example, we must never contemplate to use or use our mortgage or rent money to start a business. Neither can we use children school tuition cash or medical needs money to finance our business – those are just not smart ways to do so. So, using specified savings for that purpose, seeking a business loan, grant or even a cash gift, is better.

We also have to decide about the design and implementation of our business.

Many small internet business owners will have access to turn-key business scripts, for example, that can be used to help in the design and implementation of the internet business. A Social Network business Web site, for example, will have a predetermined script to facilitate the process. Additional designs can be done to enhance the site. Implementation is not hard. A domain name and web hosting service will be required. Then the promotion of the site for members to join, participate, benefit and for the owner to earn a real income, will become an essential process in the development and success of the business. This same principle will apply to other small internet business ventures, such as, Business Directory, Web Hosting, Classifieds, Forum, Group Blog, Articles Directory and others. Any legal and reputable Script store on the internet will be able to supply any of the above.

Starting a small internet business.

Implementation will have to comply with legal requirements of the state or country in which the person live. But an essential element here has to do with technical support. For example, to have a professional business Web site online, legal matters, internet security, technical support, web hosting and other issues, are essential. We will therefore need to seek advice from qualified friends and family members to get the business going in this respect. Professional help is also readily available online, but may cost a great deal of money for the service. And there is also the matter of trust – not all professionals on the internet can be trusted, even if they are qualified and technically competent to assist you in the implementation of your business. One of the best things to do is to seek and find someone who has used the services of a competent professional and will recommend that person to you.

The promotion of you internet business is very critical to your success. Not many small business owners can afford the services of, for example, Google or Bing, to reach targeted clients or potential customers. Some other less costly but effective advertising and promotion places we could consider includes Bidvertiser or Chitika. Free Traffic Exchanges, such as Traffic Swarm and EasyHits4U, are very popular online places for small business owners. Those last two places function as exchange advertising services – you will view others Web sites while they view yours. Some reputable traffic exchanges have over 100, 000 active members. The problem is, some of them are only general advertisers and targeted advertising to specific people or potential clients may not be possible. Other internet advertising services to consider include Directories and E-mail advertising.

The monitoring of your business is very essential. No one wants to invest, for example, US$500, US$1,000 or US$10,000 in a small internet business just to see it fail. Therefore, we must take the time and effort to monitor our business to make sure real quality growth and profit exist and are increasing to the extent we desire. Web site owners who ignore this principle often do not remain online for long to achieve any real success. Some people will have a full-time off-line job and invest in a small online business. But even if you do this (invest in a small internet business and still have your full-time job income) to neglect your business is irresponsible and a waste of needed money that others would appreciate from you as a gift or donation for a worthy cause.

While we will enjoy our business success, since that is our ultimate aim, we must also remember to take proper care of our obligated expenses – the payment of our taxes, for example. Many small business owners are often neglectful of this issue. If your business is established as a small limited liability company, then you will undoubtedly have to take care of your tax payments. If the business is an individual entity or partnership, this tax paying principle still applies. No one will want to reach a level of great success and then have the relevant tax authorities in your state or country accuse you of wrongful activities and close-down your business. So to have your business accountant, auditor or financial advisor taking care of your tax responsibilities, is good business practice geared towards long-term success.

Therefore, when we are contemplating a small internet business, there are important issues and points to know, be aware of and to consider for real quality success. Planning and monitoring are critical for success. Technical support will become an on-going necessity through-out the life of your internet business. Promotion is the essence since we will undoubtedly need customers or clients to earn the money and profitable success we desire.

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