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July 27, 2007

FOUR FOR FRIDAY

Q1 - Safety: When it comes to your own personal safety, where do you feel the safest? In the comfort of your own home, in your office or work environment, while driving a car, when youíre out on a walk or hike close to home, when backpacking in the backcountry, when visiting a relative in their home, when out shopping, at the movie theatre, etc.?

Q2 - Tech Support: Does anyone know where my friend and co-worker Greg can get a TXTSetup.oem file for driver configuration of a Via Technologies SCSI controller and associated hard drive (which as I am told is all part of the Dell Optiplex GX270 system)?

Q3 - Shoelaces: How often do you change your shoelaces? Only when one of them breaks, when they're dirty, never? If you do replace one when it breaks, do you replace both at the same time or just the one that broke?

Q4 - Floral Arrangements: Who was the last person you either sent flowers to or received flowers from, and what was the occasion?

Posted by Mikal at 12:03 PM | Comments (15) | TrackBack

July 25, 2007

CHOOSING YOUR MARKET NICHE

As I've done over the last few months, here's a recent article I wrote for Doba that I thought I'd post it here for anyone who might be interested in learning more about setting up an online retail business. You are invited to reprint this article on your own blog or website, provided that all contentóincluding the "About the Author" and "Note" at the bottom--is included and remains unchanged.

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Choosing Your Market Niche
By Mikal E. Belicove, Former Director ñ Community & Education, Doba

If you and I were to decide to go into business together, and we chose to open up a brick and mortar store down on Main Street, there's no way we'd sign an 18-month lease, order display furnishings, install carpet, hook up a phone line, and hire employees without first knowing what we're going to sell. Yet, online retailers--or, more accurately, casual sellers who want to become successful online retailers--do it every day.

Without giving much thought to a company name, product line, or a business or marketing plan, new online sellers sign up for services like Doba, work with a third-party vendor to build a webstore, and only then get around to asking, "Hey, what should I sell?" They head to eBay, see whatís selling, and then decide to sell the same products--usually consumer electronics--for slightly less than the competition. They end up being disappointed, because their profit margins are so low or because nothing they listed on eBay ever sold.

The problem is that these misguided novices have nothing unique to offer, so they try to compete on price alone--an almost surefire way to go bust. One of the keys to online retail success is your ability to establish yourself as the person or the company from which to purchase a particular selection of related products. Tiger Woods, for example, would be better off selling golfing gear than home decor... something that Martha Stewart is more qualified to sell.
Selling what you know

What's interesting is that first-time online retailers often overlook their own areas of expertise and passion. A guy who has spent his entire life fiddling around with car engines in his garage suddenly decides to start selling video games, because they're so popular with the kids in the neighborhood. Or a gal who has had a lifelong passion for photography decides to open her own major department store online, selling anything and everything under the sun.

At Doba, we have the unique opportunity to meet many talented individuals who simply started out by choosing the wrong products to sell. One of these gifted people, whom we fondly refer to as "The Dart Lady," was interested in selling consumer electronics, despite the fact that she really enjoyed schooling men in the art of throwing darts at her local pub. She knew a ton about darts, was very passionate about playing, and kept up on the local, regional, and world dart scene. As soon as we pointed out to her that she could sell darts and dart-related equipment online, her eyes lit up with a ton of possibilities. In her case, a female focusing on darts made her unique, as did her product knowledge and sheer passion for the game.

We also met a gifted musician who never considered using his musical talents to his advantage. He was at a complete loss as to what to sell, so he dabbled here and there as most online retailers do, simply experimenting with different products in the hopes that he would hit it big. When we pointed out to him that he could use his knowledge and talents to market himself and a line of musical instruments and accessories, he too say an infinite amount of possibilities for his online business. Now he's selling what he knows, and for his local clientele, he even offers lessons to accompany specific purchases.

We even met a fellow who managed to transform his work experience at a major amusement park into a successful business. We didnít teach him much, because he understood the importance of picking a niche right from the start. He had worked for a number of years in catering at a theme park and noticed how much kids and grow-ups alike liked carnival foods. He took his product knowledge from that space and applied it online by selling cotton candy machines, popcorn makers, snow cone machines, and so on--an excellent example of someone who is using his product knowledge to price, market, stand out, and sell products online.

Identifying your areas of expertise

Follow in the footsteps of these and other successful online retailers--sell what you know. If you have trouble identifying areas of expertise, answer the following questions:

1. What do you know a lot about?
2. What are you most passionate about?
3. What are my hobbies and pastimes? Are you a weekend mechanic? A seamstress? A sports fanatic? A movie buff?
4. How do you spend your free time?
5. What kind of professional training and experience do you have?
6. Find something that makes your eyes light up, and you've probably hit on the right line of products.

Researching your niche market

Once you've identified your niche market, you can begin researching the market to learn more about your customers' wants and needs. The good news is that since you will be working in areas that interest you, the research wonít feel much like work.

As you begin researching your niche market, keep the following in mind:

• Knowing your product is not equivalent to knowing your customer. You need to know your customers' wants and needs. Using the products you sell and being involved with other's who use those products can give you a clearer sense of what people need.

Base your decisions on research. Simply click the "Product Research" link on any Doba product description page to access Terapeak's database of completed eBay listings. And, if you sell golf gear, for example, you may be able to do a little research by going golfing on Saturday!

• Stay on the leading edge. Don't follow the crowd by selling what theyíre selling and how theyíre selling it. Develop your own unique vision based on your research and your experience. Attempting to sell what's hot usually turns into trying to sell what used to be hot and then being disappointed.
• Get involved in your industry. Read trade publications related to your market, attend industry conferences and trade shows when you are able, and mingle with the people who manufacture, market, and use the products you want to sell.

Remember: Pick your niche, research your market, and then pursue it. Follow your heart, and sell what you know.

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About the Author:

Mikal E. Belicove is a former online business owner and corporate blogger whose expertise also includes building and supporting online communities of practice and business-to-business-related social networks. As Doba's Director of Community & Education, Mikal oversees the company's efforts to educate retail business owners, train the company's staff, and connect customers with one another. Mikal is the author of the 2007 Edition of the Internet Yellow Pages (Que Publishing/ Pearson, 10/06), co-authored with Joe Kraynak.

Note: You are invited to reprint this article in your own newsletter or on your blog or website, provided that all content--including this signature--is included and remains unchanged.

Posted by Mikal at 8:23 AM | Comments (1) | TrackBack

July 20, 2007

Q1 - God's Toys: Starting next month, more than 400 Wal-Mart stores will start stocking their shelves with faith-based toys. The toys will feature figures from biblical stories such as Samson, Goliath and Daniel. There is also a 12-inch-tall talking Jesus. The idea behind the line is to give children a faith alternative to action figures that have been so popular for many years. Would you buy these toys for your children?

Q2 - Bones: How do you feel about eating meat off of a bone, i.e., chicken wings, turkey drumstick, ribs, etc.? Does eating meat directly off a bone gross you out or are you down with the bone?

Q3 - Iraq: While U.S. Senators on Wednesday blocked a bid to force a vote on U.S. troop withdrawals from Iraq, a CBS News/New York Times poll finds 61 percent of Americans think Congress should not continue to fund the situation in Iraq unless a timetable for withdrawal is put in place. Twenty-eight percent say funding should be continued without a timetable, while eight percent think all funding for the conflict should be blocked, no matter what. What do you think?

Q4 - Take 'em Off: Do you wear your shoes in your own house? How do you feel when someone else asks you to take your shoes off before entering theirs?

July 13, 2007

Q1 - Outsourcing: Just a few years ago, corporate outsourcing was all the rage (and by "rage" I mean "rage"... very few employees supported the trend of sending U.S. jobs--from customer service to computer programming--overseas). Has anything changed over the last five years. Is there still an inherent distaste for the practice or has outsourcing simply become a part of doing business? What do you think?

Q2 - Living in the Third-World: If you were told you would have to live in a third-world country for one year, what would you be most concerned about, e.g., food, sanitary conditions, missing your family, civil war, etc.? Related to this, what do you think would be best part of the experience?

Q3 - Foreign Affairs: Generally speaking, what do you think of the role the United States of America plays on a global scale? Is the U.S. doing an excellent, good, fair, poor, or unconscionable job when it comes to foreign affairs?

Q4 - Working Down Under: If your boss walked into your office on Monday morning and said that she/he wanted you to pick up and move your family to Australia to work in a new division, would you go? If you said no, would you change your mind if the offer included free airfare back to the U.S. for a personal visit twice per year, plus a significant raise in salary?

July 10, 2007

This is what I look like when I successfully sell something on eBay:

Kind of looks like me, doesn't it (well, except of course for the hair, meaning, this one has some, whereas I donít have as much, anymore)? You can create a Windorph of your very own here.

P.S. If you're not the type that likes viral guerrilla marketing tactics, then the Windorphin campaign simply wont appeal to you. But if you like creating goofy stuff and sharing it with your friends, then I suggest you welcome the Windorphin into your life with open arms, and that you post a link in the comments area back to yours (just don't include "http" in the URL... my system blocks that code outright).

July 9, 2007

A Sprint Nextel customer, whose personal information has been blocked out in this image, recently received the following letter from Sprint Nextel saying that her contract would be canceled because the company believed she had contacted the Sprint Nextel customer service department too many times:

Unless anyone has a better idea, I recommend changing the company's slogan from:

"Experience life at SprintSpeed^TM" to "Experience life at SprintSpeed^TM, Just Not with Us."

July 6, 2007

Q1 - Possession: Aside from your home and car, what is the most expensive thing you own?

Q2 - Race: On this day in 1975, Arthur Ashe became the first black man to win a Wimbledon singles title (in tennis) when he defeated Jimmy Connors. Do you think race still plays a role in professional sports or is race no longer an issue?

Q3 - Presidential Power: Earlier this week, in an unprecedented move, Present President Bush commuted the two-and-a-half-year prison sentence for Lewis "Scooter" Libby, the former chief of staff for Vice President Dick Cheney who was convicted of perjury and obstruction of justice in the Valerie Plame CIA leak. Bush's action marked the first time that a President had ever commuted a sentence before the convicted person ever served a day of their sentence. Do you think the President of the United States should continue to have the power to commute and pardon those convicted of a crime? As background, President Bill Clinton handed out 456 clemency actions--which include pardons, conditional pardons, commutations of sentence, remissions, etc.--including one for his own brother, who was arrested for cocaine possession; while his predecessor, President George Herbert Walker Bush issued 77 clemency actions. (President Reagan, in case you're wondering, handed out 406 over eight years, while President Carter distributed 566 during his four years in office.) Again, the question... Do you think the President of the United States should continue to have the power to commute and pardon anyone convicted of a crime?

Q4 -Annoyances: What's the most annoying part of your day (aside from answering Four For Friday :-)?

July 2, 2007

Last week, without a lot of hubbub, the United States Congress served up a pay raise for itself. Yes, you heard that correctly. During a time in our country's history when we're spending billions upon billions of dollars oversea, all the while we have unbalanced budgets here at home, our elected officials have decided they should be handsomely rewarded for their near record-low approval ratings.

Without any public hearings or even so much as an open vote on the floor of the chamber where they do their business, members of U.S. House of Representatives grabbed for themselves another $4,400.00 per year, boosting their base salary to $170,000.00 per year, a level significantly higher than the median household income here in the United States ($46,326.00). And thatís not counting the perks: They receive an average annual pension of $60,972.00, free flights and other transit subsidies, gym memberships, choice parking spots in DC and at airports, just to name a few.

Under our current laws, members of Congress automatically receive a cost of living adjustment, unless of course Congress stops its own increase. The dance is set up this way so the pay hike itself never gets a direct up or down vote. And this year, both parties delivered majorities and a 244-181 vote stopped a move to block the pay increase.

Opposing the pay raise plays well with taxpayers. So well that during last yearís election, Democrats refused to take an approved pay raise and then bludgeoned Republican lawmakers who had voted for it. However, that was in an election year. This year, with no election on the immediate horizon, both parties participated in killing an effort led by Democratic Representative Jim Matheson of Utah to get a direct vote to block the pay increase. Next, the U.S. Senate takes up the hike and is expected to follow the lead of the House of Representatives and let the raise go through.

The pay increase matters because it sends a clear message to tax payers: Members of the United States Congress are out of touch... they are more interested in fattening their own wallets than helping tax payers who are struggling to balance their checkbooks. To be clear, I am not saying that members of Congress shouldnít ever receive a raise, but there needs to be open and honest discussion about whether or not a pay hike is justified.

There is no question that our elected leaders need to be adequately compensated, but a pay raise should be based on performance, just as it is for you and me. Congress should answer to whether it reached its objectives in a fiscally responsible manner, for example. We the taxpayers are Congressís bosses, and with average approval ratings at around 25 percent, it is clear to me that the boss does not think Congress is performing very well. For elected officials to not allow a vote on this matter is yet another example of why I firmly believe the nationally-focused legislative process in this country is broken beyond belief.