How to Finance your First Business

We read articles on Techcrunch everyday of new companies getting huge investments for their next breakthrough product. We dream that one day our own ideas can attract that much excitement (and investment).  So what are your funding options for starting an online business? 1. Borrow from people you know. Ah yes, borrow from the three…

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How much should I charge for my Product?

You have done your market research and found the demand. You have now created a product to solve this demand.  So what should you price it at? With traditional products, you figured out your costs to make the product, then added a sufficient markup to come up with a price. You could also factor in…

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When should you Outsource?

Outsourcing has been recently viewed as the cure-all for many business problems. Costs too high?  Eliminate some of your jobs, and outsource the rest. Is there a skill that you need but don’t have?  Don’t fret – outsource that aspect. Is your job getting too time consuming?  Not a problem – outsource it, so you…

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How to Increase Sales and Satisfaction Through Add-Ons

The freemium model introduces users to your content.  Your goal then is to offer something worth purchasing beyond the free content.  However don’t stop there.  Real fans will want more beyond that.  Make sure you have something to keep offering them. My Chinese Learn Online (CLO) website attracts users with its free podcasts.  If they like what…

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Why you should Love Freeloaders

Freeloaders are common in most businesses.  They are the ones who collect all the freebie samples you give out, but yet never return to buy the full product.  They are the ones who go into bookstores and spend all day reading without buying.  They attend free seminars but never purchase anything there either.  They consume…

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10 Lessons Learned at Startup Weekend

This past weekend, I attended Startup Weekend Taipei.  If you’re not familiar with what a startup weekend is, it is a weekend event that attracts developers, designers, marketers and anyone with an idea.  They get together to form a team, develop an idea over two days, then pitch it in front of judges for a…

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