Internet Advertising - Keeping The Cost Down

INTERNET ADVERTISING

In the past 5 years, we have seen a dramatic shift in the American media from print to online programming. With print ad sales shrinking dramatically in the last decade, the internet has seen a surge of new marketing money from all sectors of the economy. For example, in 1996, real estate agents, brokers and developers spent $755 on newspaper advertising for every home sold. This year, they are spending $605 per home. For the same period, online ad spending per home went from $14 to $148.

A virtual ad or website can exponentially increase your business's sales while offering a global audience. There is no limit to the amount of exposure your products or services could receive. With companies like Google and Yahoo leading the way in search engine advertising and other cutting-edge strategies, even the smallest business can reach a worldwide audience with little overhead.

For a small business looking to expand, creating a web presence, or upgrading the features of an existing site, can have a major effect on revenues. It's easy to find a turn-key internet commerce (or e-commerce) package. There are low-cost website packages designed specifically to meet the needs of small businesses, such as handling online payments.

KEEPING THE COST DOWN

The internet has, without question, changed the way business is done, virtually eliminating deterrents to starting your own business. The internet acts as the great equalizer. "There are no barriers to entry anymore," says Marc Andreesen, co-founder of Netscape Communications Corporation. Virtual offices and internet marketing are some examples of how the internet has slashed costs for small businesses and made it incredibly easy for anyone with a great idea to enter any market and bring their products or services to the public.

According to a recent study conducted by the Small Business Administration, the emergence of the internet has enhanced opportunity for small business owners in every market, especially for specialized, or niche, markets. The costs of starting a business online are lower than ever, making it easy for many people to start a business, with little start-up capital. Also, with the infinite amount of information available on the internet, consumers have more choices than ever, making a web presence indispensable.

Despite the internet goldmine that business owners have discovered, not all barriers have been eliminated. Marketing costs continue to rise and it's increasingly challenging for any business owner to keep up with rapidly evolving technology. The internet also increases the importance of branding. By allowing smaller businesses to wage worldwide competition with larger businesses, branding, or the personality you give your products or services, has never been more important. However, these barriers are small indeed compared to the barriers overcome by the emergence of the online business.

Sincerely,

Ilya Bodner

Small Business Owner

Over the course of the last 5 years as an entrepreneur I have successfully launched, managed, and sold off several businesses. Each organization started has added some value to my understanding of the business world today. My philosophy has been that 9 things out of 10 that I try will fail, but that golden one is always worth the battle. In my experience that has proven to be the case and my successful businesses still operate today under the management of those whom I have sold off to. The latest project is Initial Underwriting Group, a corporation comprised of two concepts: 1) business credit building and 2) business loan underwriting. Specialties Leadership, Entrepreneurial Spirit and Mind, Management, negotiation skills, determination for success, understanding and willingness to work hard. Experience Owner Initial Underwriting Group (Privately Held; 1-10 employees; Financial Services industry) September 2003 - Present (4 years 6 months) Initial Underwriting Group (IUG) grew out of the financial side of working with small business owners. Our staff and executive team come from a background of debt settlement, debt restructuring, financing planning and investments. In the process we came to the realization that the average small business owner is forced to stretch to pay their consultants, and give the time that must be devoted. Making the leap to helping business owners was logical and bound to happen over time. We realized that the average small business owner knows little about business credit and often makes the mistake of mixing their personal credit/debt with their business credit/debt. We began working with customers - the small business owners, by showing them how to separate the two. IUG was formed because of this need. And our specially trained agents work one-on-one with small business owners. Co-Founder Insurance Consultants / Universal Resource Network (Privately Held; 1-10 employees; Financial Services industry) May 2002 - December 2006 (4 years 8 months) Universal Resource Network inhoused financial services such as long term planning, estate planning, life and key person insurance, business brokerage and other financial products. This business tailored to all consumer financial needs from personal assets to business liabilities. Reaching close to $2mil in premium collected and a dozen employees I have successfully sold off the business to the managing partners and co-founders. Co-Founder J I Financial (Privately Held; 11-50 employees; Consumer Services industry) May 2002 - December 2005 (3 years 8 months) Debt Settlement, Debt Consolidation, Debt Management and Debt Restructuring. Fully established an office to conduct over $5mil in debt-under-management with over 20 agents and thousands of customers. Upon a partnership with a local law firm and a realignment in the workflow the office has further expanded into more services for each individual customer. With the growth I have successfully negotiated the sale of the assets between a private company and the law office attorneys. The business still operated today with over 4,500 customers in and out.