Articles: Business And Economy

The 20th centuries internet boom showed us that even the smallest of business needed a website to compete in the market. As we entered the 21st century, this became even more apparent as everyday people gained internet access and started searching for products on services online. Over 90% of all American families have a home computer, and some form of internet access, whether it be dial up or high speed broadband. Out of those 90%, over 65% will search online first when making a new purchase or hiring someones service. If those numbers alone do not convince you to build a website for your business, then these reasons should:

1) Sell your products online- The ability to sell your products online, typically using an online shopping cart or eBay, could greatly increase your sales. Just thing, your products will be seen in more then one place, give you greater exposure. Plus, the overhead of displaying your products in an online shopping cart is FAR less then in a conventional store.

2) Give information that you would not normally be able too- You do not want to clutter your physical store with posters that talk about the history of your business, your mission, policies, etc. If your physical store looks cluttered, then it will hurt your business. A website can be organized in a neat manner with any and all the information you want displayed. Plus, providing information about your business will make the customer feel more informed, which in turn will make them more likely to do business with you.

3) Websites are global- A website is globally accessible, provided your domain name is known or searchable. Can you name one of form of advertising that is available to anyone in the world, 24 hours a day? You may gain clientele that you would not normally be able to market too in the real world.

4) Website are cheap- Sure, initially it will cost you some money to create and setup your website, but once your website is up, it will remain up as long as you keep paying for hosting and your domain name, which averages about 6 dollars a month. You cannot place an ad in the local newspaper for 6 dollars a week, much less 6 dollars a month.

5) Clients will be able to view your store and contact you 24 hours a day. You business probably has set hours in which you are open. Once you close your doors for the day, no other customer can come in and make a purchase. With a website your products are available for purchase 24 hours a day.

6) Minimize customer problems and questions- Again, this goes back to the information situation. If a client has a problem or question about your products or services, instead of tying up your phone line and time, they can go online and read the information that you have provided, or at least direct them to a website that can help them (ex: If you sold them a Sony walkman, you can direct them to the Sony website for any troubleshooting.)

7) Chances are, you completion has a website- The amount of businesses with a website are on the rise. With numbers reaching 80%, you cannot afford to NOT have a website, because chances are your competition already has a website.

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Selling your business is a big decision, especially considering that you have most likely spent a large amount of your time, money, and energy building it in the first place. So once you decide to sell your business, then you have to start looking at the process of doing so. How much is your business worth? Who would possibly be interested in buying it? These are all questions you must address when you decide to sell. It seems like it could be a daunting process, and rightfully so, as you are selling what you worked so hard for. However, if you follow a few simple steps, you will cut out as much stress possible.

First, you have to ask yourself Are you really ready to sell your business? You will have to evaluate not only your business, but yourself as well. You should look at the reason you are thinking about selling it. Is it legitimate? Once you sell with you wish that you did not? Make sure that you are really ready to sell before you go any further.

After deciding that you are ready and willing to sale your business for the right reasons, you must then ask yourself if your business is ready to be sold. You will need to collect quite a bit of information, including tax statements, inventory sheets, profit and loss statements, information on monetary situations (bank loans, outside investors, etc), and all documents relating to your location and lease. A potential buyer will not only want to see this information, but they will also want to see the most up to date information available. If you are like most business owners, our paperwork may or may not be complete and as up to date as you would like it to be. You will have to take the time to update this information as much as possible.

Next, how much is your business worth? It is important to remember that what you think your business is worth, or what your friends or family thinks your business is worth may not necessarily match what the market says your business is worth. Following the market worth will ensure that you sale your business much faster then if you go by what you feel is correct. Appearance is of importance, so this may also be the time to replace anything within your business that may sway a potential buyer.

Never take a good business, satisfied customers, or good employees for granted. These will be major selling points as well.

Once your business is ready to be sold, you then have to consider who may be a potential buyer. You will have to research what kind of people who be interested and market from there.

So after you start marketing the sale of your business, you will begin to get potentially interested buyers. This is when all the information and paperwork comes in handy. They will review everything you provide, and may even visit your location. This is why it is important to keep your business up to its highest potential. Some business owners have a tendency to start dropping off from their business once they put it up for sale. Keep your regular business hours, inventory up, etc. Once they decide that they are interested, the majority of buyers will give youre a bid in writing. When you first look at the bid, you may like what you see, but chances are there will be stipulations or situations within it that you do not necessarily agree with. In this case, you will need to discuss and haggle with the potential buyer until you all come to an agreement that will work for both of you. If you cannot come to an agreement that you like, dont sweat it, you will get more offers, it just takes time and patience. On average it takes about 5 to 8 months to sell a small business.

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The website boom of the early 21st century showed us that the business world was indeed ready to enter in world of the internet. However, times have changed, and many of the websites have not changed with it. Here are a few mistakes that website make in todays internet culture.


1)Infrequent updates- To have a website that gains the most business, you must have the best, most up to date website possible. If a visitor feels that you do not properly maintain and update you website, then chances are they will leave and find a similar business that does.

2) JavaScript pop ups- A JavaScript pop up is a notification window that opens when you visit a website that states and message and has an ok button at the end. This was extremely popular during the website boom, but quickly become a no-no, mainly because people over used it. Not only would they ad the pop up to the main page of their website, but they would also add one to each and every sub page. Typically these pop ups did not contain any information that would be viewed as important to the viewer. This was annoying then, and is much more annoying now, since newer computer system also have a noise that goes with the popup. If you have a message that MUST display to the user before they can go further on your website, then a JavaScript pop up may still be a good option, but I strongly caution you to not overuse it, if you use it at all.

3) Heavy graphics- You have to remember that a percentage of your visitors will be on a dialup connection, which means they will have trouble downloading your website if you have a large number of graphics on your website. Unless your website is in flash, I would try to avoid using any type of animated graphic, since they typically have large file sizes.

4) Using heavy, high contracting colors- This was another thing that was popular during the internet boom that quickly become unpopular due to overuse. It was once believed that high contracting colors would grab the users attention. While this is true, it also has a negative effect since it would hurt the user eyes, and sway them away from the website.

5) Clutter up pages- If your website seems be cluttered visitors will be less likely to view further into your website, especially if they think they will have to weed out the information they need from the information that is useless to them. You do not want to have too much information on each page, and you never want more then one topic on each. A good navigation system will eliminate any problem you have.

6) Lack of a navigation system- many websites created during the internet boom lacked one of the most important parts of a website. One a visitor clicked on a page they were taken to a new page without a way to return or access additional pages within the website. A navigation system insures that the visitor will be able to view your entire website. A good navigation will take the visitor back to the page that they originally come from, to the main page, and to the other major parts of the website. Additionally, the navigation (typically near the bottom of the page) should have links to things such as website polices and term and conditions.

7) Overusing Advertising- This is actually a fairly new problem with website, especially since Google started their Adsense program. Many website have more ads then information on the page. A visitor does not want to have to weed though the ads to find the content that they are looking for. The irony of the situation is: A visitor is more likely to click on an advertisement link if they do not feel that they are being bombarded by them. This is defiantly a situation where the saying less is more is true.

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Every new investor thinks of the stock market as the first place to invest. The reasons are undeniable, as the stock market is one of the most successful investments. However, few investors know of a new, emerging type of investment that carries much less risk then the physical stock market. This new investment area is known as the Forex Trading Market.

The Forex trading market cannot actually be found physically. Instead, the market is a large network of central banks and individual investors all caught up in the process of currency exchange. Because the Forex market deals with countries all over the world, the market must remain open 24 hours a day. The market follows the three markets, the United States of America, Europe, and Asia.

This presents a problem to even the more successful investors. It is simply not possible for any human being to stay up 24 hours a day so that they have up to date information of the market. Often the market changes will the investor sleeps or goes about their daily routines. If statistics are not checked often, opportunities to gain profits may be lost. The alternative may be to hire a professional broker, or use a trading program.

Making Money Using Forex

Money is made in the Forex two ways. The first way is by buying low and selling high. For example, The Euro and Swiss value is going up, so your portfolio manager it will automatically buy shares of the USD/Swiss at the predetermined price, which you setup when you create your account. At the same time the program will sell the USD/Euro while it is up, locking in profit.

The other way of making money using the Forex trading system is by collecting on the interest each central banks pay on their currency. The United States federal reserve determines that the current interest is 5%, while the Swiss government determines that their interest rate is 1.5%. When you trade you are earning 5% on the US currency, and spending 1.5% on the Swiss currency.

The reason that the Forex market is much less risky is the fact that you work on a percent, rather then actual money. For example: If you are dealing with a $100,000 dollar contract, then you are only required to place 1 percent, or $1,000 up. The other investors use this money as a type of insurance policy in case the deal goes bad.

Being Successful in the Forex Marketplace

Gaining the amount of knowledge needed to be successful in the Forex marketplace is actually not difficult. Someone with an education of an Associates Degree, or even a high school diploma would be able to gain the knowledge with just a few years of studying the market.

However, no matter the amount of education or training you have, the number one problem new investors have is making good decisions. While some investors have no problem making decisions and sticking to them, the majority of the human race simply have trouble doing this. Whether it is emotion, lack of knowledge, or uncertainty that makes decision making hard, it must be overcome to be successful in the Forex market.

Your main tool again potential risk is knowledge. Learning as much as you can before your first trade will help you make informed decisions later. Simple knowledge can be obtained by studying articles and books, talking to a trained or experienced investor, or using a simulation program which allows you to trade within the market, without spending any actual money.

If you are waiting to success in the Forex market, you must learn to use technical indicators. These technical indicators will allow the trader to recognize long-term, short-term, and intermediate treads, which will allow the investor to construct his trades and portfolio to reflect the highest possible profits. It may take years for a new investor to fully understand the ups and downs of the market, and how to more accurately predict future trends.

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When you write personal correspondence either in letter or email form, you know you dont have to worry quite as much about how you say things. You always want to have good spelling and decent grammar, of course, but your personal friends and family are not going to nitpick and disown you because of a few mistakes. However, when it comes to writing business letters, you want to make sure they are perfectly worded and completely without error. On top of that, they must be clear, to the point, and as brief as possible.

Business letters are all about business. You dont want to send anything that sounds too personal, but you also dont want to sound too stiff with someone with which you have been doing business with for a long time. Always start and end with the proper terms like dear and sincerely, though there are other terms that are acceptable. Look up the proper formatting for business letters, and never stray from that formula for the best outcome each item. There are a few different formats that work, but the most formal works the best, even when you feel the business is more on the casual side.

When it comes to the contents of business letters, you want to make sure your point is clear and that you have said what needs to be said in as few words as possible. Skip over flowery descriptions, as they may alienate some people. When you are writing a letter for business about a particularly touchy subject, you want to write a few drafts, and then put it away to look over again in a few hours or even the next day if that is possible. You will always want a fresh perspective so you are sure you have said what you need to say in the best possible way.

Lastly, check, recheck, and then triple check for spelling and grammar. If you arent sure, look it up. The few moments that it takes to do that can mean a huge difference in what happens after your business letters arrive at their destinations. Spell check on the computer is great, but it will not catch everything. If you have to, read the letter backwards, sentence by sentence, so that you can catch any problems. Even better, have someone else read it over. They will have fresh eyes and will catch problems that you did not.