Mentor Schools – Product Launch Plan

Taking business to the WebAnd many have considered leveraging on technology and the Internet to assist them towards their goals. Dr Kenneth Tai, trainer and consultant for marketing and branding at the Institute of Certified eCommerce Consultant, says the benefits of the Internet include researching for new products to market, seeking new ideas to improve existing products, offering better customer service by adding value, and as a communication tool.

“It is also an interactive networking and sharing platform in the global environment that can be used for real-time access, purchases and information updates.Branding can be done at a faster pace. It’s all about marketing.” Before anyone embarks on a new business venture, Tai has a checklist that can be used as a guide.“First, have a business plan for the next three to five years. Then get a business mentor or coach to guide and motivate you.

“Identify your short-term, part-time income to sustain your new venture. Learn and practise selling and marketing because 90 per cent of business failures are due to lack of selling and marketing,” he says. And if you are not a techie planning an online venture, get a partner who is.Learning the power of the Internet on a business is critical, even before investing in a Web site, because a lot of money can be saved by knowing the right optimisation techniques and exposure plans, according to Tai.

He also highlights the misconception that there are only certain businesses that can benefit from Internet marketing. “This is a common mistake. In today’s market environment, digital marketing is one of the best methods for any business, unless the business does not need to implement any marketing effort,” he says.He points out that digital marketing allows a company to access the target market of people aged between 17 and 50 years old, a segment that covers the majority of the high-purchasing-power individuals.

“Digital marketing is free or has the lowest cost compared to other media.The combination of digital marketing and conventional methods will provide optimum results. And any digital marketing activity and result is traceable for further improvement,” he says. Tai believes that all businesses, especially new entrepreneurs, should Web-enable their business for a competitive advantage, bigger market and lower operational costs. “Entrepreneurship is not easy. Everyone needs to work hard and smart for it. There is no difference between a conventional business model and a Web-based type.

“If finance is a challenge, get exposure from experienced entrepreneurs on types of business that could use a low startup capital and low operation costs (for instance, a home-based consultancy business). Many businesses do not need any investment to start off.“Another challenge is marketing. Be good at marketing and sell anything online and offline, as these two are related to each other. Be willing to help others, and be other companies’ marketing agent to get the experience,” he says.Besides that, it is important to choose a business that you are passionate about, and not one that you only think of making money.

“Get a mentor who will guide you to a smooth start and help you fine-tune your mindset about being in business because that is the biggest obstacle to any entrepreneur.“Try to form a team of new entrepreneurs that you can get motivation from and that helps each other along the way, synergising with each other’s strengths to grow at a faster pace,” Tai suggests. Mentor Schools – Business Mentor thanks; http://www.nst.com.my/techNu/Monday/TechTalk/20090601105541