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WEEK 1

Creating Business Model and Ideas

Developing a business idea is very interesting and requires a lot of effort and time. There are several methods of creating business ideas and I would love to talk about some of these ideas. The brainstorming method is one of the simplest ways to develop an idea. This method helps you to identify any negative aspects of the business. Such as any foreseen problems you will run into if you choose a business idea.

The brainstorming method helps you to decide on a specific objective market you want to serve before even thinking about a product or service. Obtaining the right business model can be an achievement for any corporation. Most importantly, having a product can help business owners comprehend the right business model so that the product can be market fit and profitable.

Business models 
Depending on your business, and the product or service you wish to develop, it may be simpler to approach development by first looking at a business model, then an idea or vice versa. This principle is one of the best ways when creating a successful business. http://digitalenterprise.org/models/models.html

AdWords

Google has a keyword tool called “Google AdWords.” You can use this tool to search for certain keywords of business ideas. By doing this you are able to see the level of competition to your business in your desired area. https://ads.google.com/home/.

WEEk 2

Sourcing the Product :Broker, Manufacturers, and Wholesalers

US Wholesaler

I did a spreadsheet on learning how to better objectively quantify and compare, I at the end of the day decided to go with the U.S. wholesalers. I thought that they would have the best brands that would be the most recognizable in the U.S. And I thought that they would perhaps have better quality than the other wholesalers. Their price was more than the others, but I thought that it would be easier to communicate with them and establish a better relationship with them and that this would be worth the extra price. 

International Broker

My second choice was the international broker, (and after our discussion in class possibly my first choice). Ali Express has a great website that is easy to navigate, and shows good information such as the response rate, and the past number of transactions.  When I first looked at the products, I thought that the products looked good, but were perhaps not the same quality as the U.S. wholesaler. Alibaba gets most of their items from China. Their prices are very good however you would have to order a high volume of merchandise to purchase. Communication and a good relationship might be difficult to have because of language differences.

Manufacturer

The Taiwanese Manufacturer was my last choice. Their quality of products was questionable, and the website was difficult to navigate because I don’t speak the language. This would make it difficult to communicate. I couldn’t even find the prices, so it doesn’t even matter how good they would be.

WEEK 3

Google Ad-sense

Google Ad-sense

 Gives a way for editors to earn money from their online subject or content. It works by corresponding ads to your website according to your content and those who visit your website. The ads are created and paid for by advertisers or bloggers who want to advertise their products to their customers.

“The earning of AdSense is generated through the number of clicks by the visitors on the site. The publishers, advertisers, and Google earn through the “Cost Per Click” rate.’

This is the site to learn more about Google AdSense.

https://www.google.com/adsense/start/benefits/#/

What type of websites are best for AdSense?

https://www.google.com/adsense/start/resources/quality-adsense-revenue.html#/

Tutorial: How to Place AdSense Ads on Your Website.

WEEK 4

Choosing a site builder and a Host.

Choosing a site builder will help determine where you will host your site and will help you get moving on building your online business. There are a lot of ways and means in building a website for your business. We discussed two way that one can build his or her own website.

When choosing a website builder, you must first consider what kind of site you want to build and what kind of functionality you require. Below is a list of key decision-making factors you should consider when picking a website builder to help make the ideal personal or business site for you.

There are a lot of great website builders to compare & choose from, but your best option will depend on the features that matter most to you. For instance, Wix.com and Squarespace are excellent options for users who desire absolute simplicity. Wix.com and Web.com both offer excellent stock images and photo editing tools. Squarespace and Shopify are equipped with world-class shopping cart solutions.

 I really love WordPress it is very interesting, and it is user friendly it has a lot of plugins. Moreover, WordPress especially since we talked about how knowing WordPress is a marketable skill and one that I could use to make money in the future.

This a video on how to create a website using WordPress. Step by step tutorials by Tyler Moore.

https://www.youtube.com/watch?v=2cbvZf1jIJM&t=1050s

Hosting

Host. renting space on a server that is hooked up to the internet all the time. Without the host your website will not be active, as I did a lot of research on choosing a host, I concluded to go for HostGator. HostGator is better host than GoDaddy. HostGator has better performance compared to GoDaddy. While HostGator plans are slightly costlier than GoDaddy, it offers better value for money and also has reliable customer support.

WEEK 5

Site Design and Credit Payment

When doing research on website design I learned that a web page can only display a font if it is installed on the user’s computer. Times New Roman, Arial, Courier New, Verdana, and Georgia are all safe fonts that can be used on any computer.

I also learned that graphics for the web are usually 72dpi resolution which is a much lower resolution than we would use if we were going to print out an image.

It is important to compress images so that they load faster or to create a thumbnail and then allow the viewer to click on it if they want to wait for the image to load larger and more detailed.

https://www.webwiz.net/kb/website-design/

Guide for WordPress

WEEK 6

Business formation and legal Issues

When we are starting a business, one of the most important decisions will be in deciding the legal structure. The decision will mainly be influenced by the taxes and the amount of risk we want to take on. These are the 4 main structures to consider.

Sole Proprietorship: This is the most popular for sole business owners in the US, because it’s easy, fast and less expensive to start. This is especially good for testing a business concept. However, being a Sole Proprietor means you are liable for your business, which means you could be at risk for potential lawsuits.

Partnership: There are two types: general and limited. A general partnership means that creditors may seek any or all partners of a company. This is also an inexpensive form of starting a business with some tax benefits.

LLC: Limited Liability Company offers the same liability protection as corporations without the double taxation, and earnings and losses show up on their personal tax returns. This option is great for an unlimited number of shareholders and offers protection at a less expensive rate vs corporation.

Licenses and Taxes

In the U.S, an online business may require special permits and taxes depending on the state. In Ghana, these is no such permits are required. To start an online business, one must simply open a “regular” business by providing the necessary documentation and fees required. Taxes on all services non-related to health pay a sales tax of 30% and the difference between sales tax received and sales tax paid is due on a monthly or quarterly period.

WEEK 7

 Starting Google Ads and Keyword Basics

Having the right keywords can enable users to see your website first thus creating more traffic. While longer searches such as sentences and descriptive phrases draw much less traffic, the conversion probability increases.

Negative keywords can prove to be very cost effective as they help filter viewers “passing” through and focus on potential customers. This tool decreases impressions and increases CTR (click through rate).  Ex. If we wanted to focus our campaign on men’s footwear, we could use negative words like; women´s footwear, children´s footwear, etc. Essentially we are focusing on the opposite words to identify our product.

these are some videos on how to create effective ads and good keyword.

WEEK 8

Ads and Ad Groups