By its very nature the internet dynamic fuses cultural links worldwide. Take China for example; it is just catching on to the internet, but imagine what will happen when the Chinese nation becomes fully connected. The already substantial global online market will double in size – and so it goes on; ever evolving, ever expanding. Not every small business will be able to take advantage of these developments – our Oswaldtwistle storekeeper won’t – but perhaps you can and here is how ...

Benefiting From The Global Dual Knock-On Effect

While I was writing my first published work way back in 1994 I was also engaging in the early stages of online marketing. I suspected that the book might have a positive knock-on effect on my online activity. I was right. But little did I realise it would turn out to be a dual effect; the book selling offline and online and in turn promoting my internet-generated produce.

I enjoyed the dual benefits when I started out, and so can you, and you won’t need to have a book published to participate. Online marketing will increase your local trading offline and have the potential to present a global dimension online.

Here’s How To Determine Whether You Qualify

Evaluating Intellectual Properties For Online Adaptation

The majority of service-based small business operations are usually hinged on at least one intellectual property. It might be the service itself, the particular niche into which it fits in the marketplace, an exclusive slant the owner has developed for it, an elite customer assistance package, or all manner of other possibilities. Certain small manufacturing units have similar opportunities for digital application by way of exclusive documentation.

For example, one such concern might produce a tangible product in common use with multiple supply sources, universal demand and distribution, but for which the owner has discovered a use that no one else has yet tapped into. They all soon will of course, but the one who jumps in first usually holds on to that position for a time at least.

To evaluate the suitability for online adaptation of a formula or solution in both instances, the intellectual property must be evaluated for ...

If it scores on either count and is capable of attracting consumer demand outside the current trading area, the property is a prime candidate for online distribution.

Confirming What You Think You Know About Your Intellectual Property

So far so good, but no one knows everything about anything. Your formula, your solution, your whatever, might be impeccable in your eyes, but ...

• Will it measure up to every requirement of potential future markets?
• Might it need some tweaking?
• Might it need updating?
• Might it even be flawed in some respects?

 

Go online, do some essential research, confirm what you think you know about your intellectual property and make adjustments if required. Better to do it now. It will be too late if you leave it until after you start production and online distribution.

Using Online Research To Add To Your Knowledge

Similarly, as you are using online research to confirm what you think you know, you can be adding to your knowledge. Seek out professional articles on the product, the market, consumer trends, pricing, etc.

Converting Intellectual Properties Into Digital Products

Many small business owners already marketing online shy away from the subject of digital conversion in the mistaken belief that the process is difficult, time-consuming and expensive. Nothing could be further from the truth; it is simplicity itself. There are truckloads of help available on digital conversion of intellectual properties – online and in Chapter 19 of this book. I have hundreds of digital products circulating around the internet; ebooks and software covering a complete spectrum of specialist interests, by far the majority of which I make available as free downloads (you’ll discover why in Chapter 11) but when I started out I had no idea what a computer chip was and I still don’t know.

As long as you take the trouble to learn why digital conversion works, it doesn‘t matter that you don’t know how.

Promoting Digital Produce

Mastering the digital conversion process takes you halfway; the other half consists of becoming skilled in the art of promoting your produce online. These arts are explored in the following chapters:

Accepting Credit Card Payments Online

Unlike me, you will no doubt want to sell most, if not all, of your digital produce and to do that successfully you need to know how to accept credit payments and organise online distribution (Chapter 29).

Go global if you can and watch your small offline business operation zoom to new and higher levels of profitability online.