A portfolio of online products will protect a business if one product takes a dive while others keep performing well.
A business that sells only one product takes on a great deal of risk. If cheaper products come along, competition increases or other changes impact the market, the business may get into serious trouble. Its future becomes doubtful. (more…)
Website profit require a thoughtful business plan — even something as simple as one or two pages — and consistently sticking with it. In some ways, planning is more important than revenue itself.
Classical management planning often includes eight major sections: vision, mission, values, strategies, goals, objectives, tactics and actions. (more…)
An online company or operating unit with a five-year plan is simply trying to equal the average survival rate. That plan should have an exit strategy.
Everything is temporary. It’s the nature of the universe. It’s also the nature of people, companies, products and services. (more…)
A website content strategy that balances desktop and mobile versions will improve time management and return on investment.
Websites rarely have the same amount of desktop and mobile visitors. Likewise, they rarely have the same amount of desktop and mobile ad revenue, transactions or other forms of income. But large differences can reveal weaknesses in either platform, especially mobile. (more…)
The newspaper industry is a great example of how to implement an online subscription strategy. It’s also a great example of how not to implement it.
Online subscriptions have had a rocky lifespan. Some of us experimented with them for newspapers all the way back in the 1980s with services such as CompuServe and Prodigy. (more…)
A healthy online business has more potential for staying healthy if it puts a heavy emphasis on bonuses rather than salaries.
Consider two scenarios with different approaches to paying the owner, the staff or both. (more…)
Independent contractor costs have an impact on the quality of the services they provide.
An online business that hires contractors will not surprisingly find that the better the contractor, the higher the cost of hiring that person. (more…)