BuyDomains Newsletter
March 2007
Domain Owners Can Now Access Leading Global Distribution Network
NameMedia announced the launch of ActiveExchange, providing domain owners access for the first time to the exclusive distribution network of the industry's leading domain marketplace.
By joining ActiveExchange, domain owners will now have their domain names listed on the websites of BuyDomains, Afternic and more than 55 resellers in North America, Asia-Pacific, Europe and the Middle East. In addition, members of ActiveExchange will have the industry's most experienced sales team working on their behalf to handle customer inquiries and close sales at the highest value.
Read More About Listing Your Domains for Sale
Shipping and postage can be significant expenses for small businesses.
In the United States first class postal rates are due to rise again, and many small businesses will feel a pinch as a result.
With this pressure in mind, let's explore some cost-mitigation strategies for the small business owner.
The United States Postal Service has a small business resource center which provides tips on mailing requirements, both domestic and international. Visit USPS.com/smallbiz for more information.
Tips for Saving on Postage:
- Wherever possible, avoid oversized packaging; keeping your packaging within standard sizing will eliminate costly surcharges.
- Sorting mail can also be a big money-saver. If you are mailing at least 150 pieces of mail to the same five-digit zip code in one batch, for example, you can qualify for discounts.
- Consider using an address verification service if you have regular mailings going to a list, or if you have a steady flow of first class mail. Cutting down on the number of undeliverable pieces sent is an immediate saving and may allow you to find a more up-to-date way of reaching your prospects and customers.
Entrepreneurs and small businesses drive economies around the world, but the profile of the new entrepreneur is changing
According to the first installment of Intuit's "Future of Small Business Report", the makeup of small business owners is undergoing a major transformation, and is changing the economic landscape.
New entrepreneurs, both young and old, are choosing not to pursue traditional employment, but are defining their career paths as business owners.
This new cadre of small business owners includes:
- Baby boomers, "Gray Panthers" as they are often called, are foregoing retirement to establish new businesses — seeing fertile markets for goods and services aimed at their peers.
- Generation Y workers in their early 20's seek flexibility, variety and control in their working life — and entrepreneurship is the solution of choice for many. This group is suspected to be the most prolific force of entrepreneurs yet.
- Women of all stripes — including "MomPreneurs" have found that it's often easier to create their own destinies than to battle corporate cultures which may still favor their male peers. If you can't break the glass ceiling, take a chance on your own firm and you may succeed in creating a room without a ceiling!
- Immigrants: People are migrating around the world in growing numbers. New arrivals — especially in the United States — are finding opportunities to service the general population, to market to their own immigrant communities and to service their home countries, as well.
Some Interesting Facts About Entrepreneurship
- According to BusinessWeek women are half as likely to start their own company as men; however, their numbers are on the rise.
- Immigrants form the fastest population of new business owners. Since traditional methods of finding a job are unavailable to many immigrants, they tend to leverage the existing networks available to them to either form a new business or become a part of an existing one.
- Entrepreneurship has a major impact on job creation in the United States with approximately 60-80% of all new jobs burgeoning from small businesses.
Entrepreneurial Education: New Methods Meet Changing Needs
The growing population of entrepreneurs has driven an explosion of business-related educational resources. However, education is no longer limited to college and post-graduate levels, nor does it merely focus on one target market.
Intuit states that "The next decade will see the growth of entrepreneurial training aimed at youth, mid-career professionals, artists and musicians, as well as trades people of all kinds."
For more information on becoming your own boss visit the following links:
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Many entrepreneurs are taking advantage of the web to expand their businesses around the world. Are looking to go global? What do you need to know, and where do you start?
While many small businesses are local in nature — your local pizza parlor is unlikely to start shipping their product internationally — many business owners seeking fertile new markets are finding that a wealth of international opportunities await the educated business owner.
Before You Leap...Learn
Most of us hear lots of news about the stunning economic growth in China, but how many of us would understand the basics of doing business in China?
There are many great resources of information online, but here are some common threads which you probably want to take to heart:
- Get cultural basics down. Many readers will have heard about gaffs like Chevrolet attempting to sell a car named "Nova" (in Spanish "no va" means "doesn't go") with disastrous results...don't be the next business to make that mistake!
- You may have a great product, presentation and message for your current market — but will it translate "as is" to consumers in other countries? Look to current or similar vendors selling where you intend to sell and note their approach.
- Remember that personal relationships — which should be mutually beneficial — can be among the best ways to successfully open doors and get business rolling. Reach out in your professional and personal network to make connections; with six degrees of separation being a reality in many cases, you're likely closer to a connection than you think!
- Start reading international business news — you should find this valuable. Journals like the International Business Times or China Daily are interesting, and informative, and are great places to start learning.
- Explore social networking sites for international entrepreneurs
Where Are Your Best Opportunities?
Chances are that you didn't launch your business without doing research: defining your target market, researching competitors, exploring regulations and so on.
Being successful in identifying and pursuing an international business strategy will require that you conduct enough research to identify your best international opportunities — and that you modify your sales strategies based on your findings.
If you are in North America and you sell bathing suits, remember that summer in Australia is in December — not July. If there isn't a reliable means of shipping fragile items, you'll need to contract a vendor or change your packaging to make it robust enough to survive sub-optimal handling. If you are selling in a market which is culturally conservative, be mindful of the images used in packaging and promotions.
Get Support
Contact your country's economic liaison in your target country, and ask them for help in understanding the challenges you may face when doing business in that market.
If you are not selling a physical product, you may still need to be quite careful about how you sell: not all countries have high standards for intellectual property protection — so your business service offering may need to be protected from hijacking just as much as a physical item such as a DVD.
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