Three Keys to Success in Online Business | Online Business

The internet market is getting even more competitive with zillions of businesses trying to share the online market pie. Although the internet has created thousands of entrepreneurs who earn luxury income from their online business, there are still many people who failed to make the money they were expecting, and eventually quit the business to cut their losses. What makes the difference between the success and the failure in this business? Here are the three keys that will affect the result of an online business:1. Sell What Consumers WantMost people start to set an online business to sell the products they like or know about. They don’t think to find out whether the products they intend to sell have market demand or not. This is the major mistake that makes these people fail. If you are selling products which have no or very few people interested to buy, then you won’t be able to make enough money to cover your business expenses. This is one of the key reasons why 95% of new online businesses fail within their first year of operation.There is nothing wrong to sell the products you like or know about, you just need to make sure there is market demand for those products. You have to spend time and efforts to do market research before you start an online business. Finding the right products to sell online is not an easy task. The rule of thumb, always sell what consumers want if you want to success in make money from internet. Always keep this rule in mind: “Sell What Consumers Want” when searching for products to be sold online.2. Find The Right Product SourceWhether you set up an online business to sell physical products through eBay or an online store; or affiliate marketing to earn commission from other people’s products, finding the right product sources are essential to make a success.For example, if you are planning to use dropshipper for eBay online store, you need to find the real dropshippers who are providing their products at the wholesale price and willing to pack and ship individual items to your customers. The key reason why many online store owners can’t make money when using dropshippers is because they had chosen the wrong dropshippers who did not provide them with real wholesale prices.If you are selling products through affiliate marketing, then choosing the right product source is important to ensure the traffic you drive to merchant’s website has good conversion rate to convert their visitors to buying customers so that you can make good profit.3. Knowledge Is The Power To SuccessYou need to know what are the things need to be done and how to do them correctly in order to the online business success. Knowledge is the power to help you achieve the success. If you have knowledge on the type of online business you are planning to start with, you will be able to avoid the common mistakes that may lead you to failure. Learn what you have to know about starting an online business before you step-in to make your hand dirty in the business.SummaryZillions of online businesses compete to grab the internet market share, but if you have integrated the above 3 key success factors, you will be at the advantage edge to win in the competition and get your online business up to the success level.

How You Can Transform Frequent Flyer Miles and Hotel Points They Earn Into Dream Trips of a Lifetime

The best free room I ever had? There have been many, but one that comes to mind is the six-night stay my family and I enjoyed at the Park Hyatt in Tokyo. Incredibly, there was no check-in desk. As we entered the hotel, we were ushered straight to our room on the 40th floor by elevator, where we walked through the elegant lobby marveling at the spectacular views over Tokyo. Only after we were situated in our room did a staff person visit us. We signed the necessary paperwork in about 2 minutes–all from the luxury and comfort of the desk in our own room.The amenities alone made our stay memorable. The huge bathroom greeted us with marble everywhere, while a giant tub invited us to sit, soak, and relax. Not only were the best shampoos, conditioners, and lotions provided each day, but also a new, top-of-the-line hairbrush and nailbrush. We lounged in complimentary silk kimonos and donned thick bathrobes after using the pool and spa–just a quick elevator ride away on the 52nd floor amid a dazzling 360-degree view of Tokyo.For all of this, we paid absolutely nothing, not even room tax. But, as we all know, there is no such thing as “free.” It actually took 21 paid nights at Hyatt Hotels, using a promotional offer, to earn enough hotel points for that five-night complimentary stay.But here is the key point: When you accrue hotel points or intend to use some promotion toward free nights, make the most of what they offer! Just as you would use those free nights you earn only at hotels which might otherwise be out of your budget, redeem your frequent flyer miles for the most expensive air tickets in business or first class.Research consistently shows that almost two-thirds of all redeemed frequent flyer miles are used for free coach class trips within the US or between the US and Canada. This statistic amazes me. Because these awards usually cost 25,000 frequent flyer miles, travelers who cash them in towards domestic leisure trips–for which airfares are unusually low in today’s competitive travel market–receive a poor return on their investment. The savvy traveler can reach almost any domestic destination today in coach class for under $400 using an advance purchase ticket. With low-cost airlines such as America West now offering first class cabins for travel anywhere in the US priced under $1,000 (and frequently matched by the major competing airlines), even premium class is more affordable than ever before. Why not wait until you have accrued 100,000 to 200,000 miles and splurge on one or two premium class tickets for travel abroad?You may argue that you want to use your frequent flyer miles quickly–before the airlines go out of business. Critics across the board are heralding the demise of all major airlines, and with it the frequent flyer mile programs savvy travelers have come to love–and hate! Countless “travel authorities” wax lyrical in newspapers and journals, and “knowledgeable” pundits on radio and TV continue to warn travelers to use up their miles quickly before they are all worthless. How utterly ridiculous….With the exception of US Airways, which I believe will disappear from the landscape in the next few months, the majors are here to stay for the time being–so continue to accumulate frequent flyer miles and be ready to book your dream trip one day in the not-too-distant future. Will airline miles be devalued in the future? Of course they will–and so will the greenbacks in your pocket and mutual fund account, but that hasn’t stopped you going out and earning dollars each workday, has it? Get real now–the major airlines will need their frequent flyer programs for many years into the future, not only as a way to communicate with their customers, but also as a source of revenue from the thousands of businesses (banks, mutual funds, restaurants, long distance phone companies–how do we count the ways?) that offer frequent flier miles as rewards to their loyal customers. Your hotel points are even more secure, not least since the major hotel chains have not hemorrhaged money in the same manner as the major airlines. So keep earning those Hilton, Marriott, Hyatt, and Starwood loyalty points to enjoy the kind of stay I describe in the opening story.It’s really the exotic destinations–from Tahiti to Paris, Antigua to Rio de Janeiro–that should excite you, the sophisticated world traveler who lusts for the unique, the unusual, the spectacular experiences. Start imagining–and planning–the fabulous trips that will take you to a whole new level of exhilaration. Decide which portion of paradise has the highest priority on your wish list–and figure out the amount of miles you’ll need for one or two or more business or first class tickets to transform your dreams into reality. Then begin working on strategies to start racking up the miles as fast as possible to accelerate your quest toward mileage nirvana.And bon voyage!