Payment Options

Teaching you how to make money while you sleep.

 A study conducted by CyberSource found that several websites provide four or more payment methods. There are several payment options more that ever before. As an online entrepreneur it is important that you offer as many payment options as you can. 

Stay tuned as we discuss some of the most utilized payment options trending today. 

Cash on Delivery

Teaching you how to make money while you sleep.

Cash on delivery (COD) is the sale of goods by mail order whereby payment is made upon delivery.Today it's still a viable option in online business.

Many online entrepreneurs in Trinidad and Tobago accept this type of payment and so can you. While it may be risky for the seller, to the consumer it seems to be an easy payment method. Lets face it ! not everyone has a debit or credit card.




stay tuned for more payment options.

Registering Your Business

Teaching you how to make money while you sleep.



You have decided its time to register your business, that's great. In order to do so there are a few steps you will have to follow. For the purpose of this blog i would provide information below on how to register a sole trader business (person who owns the business exclusively and is entitled to all profits after tax) in Trinidad and Tobago.

If you reside in Trinidad and Tobago and are you venturing into a partnership type or other business type log onto ttconnect for further information.

Phase 1: Name search/approval- this is where you apply to do a search on the chosen name of your business to check for availability. The following documents listed below must be dropped off at the Ministry of Legal Affairs:

• Recent utility bill in your name as proof of address
• Copy of National ID
• Completed application form
• Application cost of TTD $25.00

Note that name search takes a couple of days. If the name is unavailable brainstorm for another.

Phase 2: Now that your business name is available you now have the option to register with this name over the next few days by following the process listed below:

• Complete form
• Provide documents received showing name availability
• Application cost of TTD $220.00 at this date

Congratulations! You business is registered.



Now its time to promote your business! Stay tuned to next post.

Email Marketing

Teaching you how to make money while you sleep.

Some experts believe that email marketing is the number one way to grow your business. it is essentially a fast and easy way to reach customers via electronic mail. Below is a list of Do's and Don'ts  to follow when you are trying to attract new customers and grow your business.

E Business Models

Teaching you how to make money while you sleep.



The picture below illustrates the different types of e business models.

Promote Your Business

Teaching you how to make money while you sleep.

What is marketing? Why should you market your product? In a nutshell, marketing is the activities of a company associated with teaching consumers why they should choose your product.  An hour or two on business promotion/marketing can help grow your business. There are several ways in which you can do it.

Choosing promotion that is fast, flexible and trackable makes it easy to see whats working and how many audience you are reaching. Marketing also increase trust, brand awareness and credibility which drives traffic to your online business thus, increases conversation.

Millennials (which include persons born between the period 1981-2000) have extreme exposure to modern platforms and gadgets, and as such their internet usage is high. Therefore, they hold extreme potential for buying power making them an easy target market you can advertise/sell your product to.

Promoting your business also makes it easy to remarket to customers base on previous buying habits. Some search engine marketing professionals believes that this method is an underused marketing strategy.

Your competitors are doing it !! Why not start 👌

Social Media

Teaching you how to make money while you sleep.

 Social media is a marketing channel that reaches audience far and wide. If your business is to succeed a good marketing mix is essential. People use social media to connect with each other everyday. Why not use it to market your business?

You might ask yourself, how will this help my business? Well, there is relationship building, brand awareness, lead generation, market research.....and the list goes on. Platforms such as Instagram, YouTube and Facebook are cheap and easy to use.

However, it is important that you choose the right platform for your business. How? Know your target audience and figure out which platform they use and use them too. Consider sites that fit your product. For example, YouTube can be used for a video production company.

Create a social media calendar with content. Why? Things do not always go as planned. We have meetings, things come up and its at the last minute we remember to promote. Struggling to post at this time could lead to poor  content, repeated post and a lull in your presence on one of your marking channels.

 Note, do not over promote but engage your audience and promote interaction to take advantage of social capabilities. Research your audience, gain knowledge on their likes, interest and post content they want to read keeping in mind your product. Below is a list of some popular and easy to use social media platforms:

•  Facebook
•  Instagram
•  Pinterest
• Twitter
• LinkedIn
• YouTube
• Snap chat
• Whats App
• Biz sugar        
• Google plus

 

Types of Online Business

Teaching you how to make money while you sleep.


Online business may appear on the internet in many forms. I decided to list a few of them below:

• Websites- this is one of the most obvious types of business where you can start creating websites for persons. 
• Marketplaces or online shops- this is basically an app which provides information on services and facilitates shopping from multiple vendors. 
• Blogs- there are various websites that support blogging. One option to create a blog is by logging onto blogger.com. As with any business there are rules we must adhere to, if you are choosing route you can log onto lifewire.com for blogging  tips to avoid trouble.
• Social media accounts- there are many business driving engagement on social media accounts of Facebook and Instagram and whats app to name a few.

Advantages and Disadvantages of Online Business

Teaching you how to make money while you sleep.

 Benefits of Online Business/E-Business

1. Cost savings in store front and staffing
2. Efficiency in service, product delivery and greater flexibility
3. Worldwide access to customer 24/7
4.  Business reaches a wider audience

Drawbacks of Online Business/E-business

1. Some web or technical knowledge may be necessary
2. Hardware and software expenses
3.  Risk of fraud and online scams  

Note that this list is not limited. As you grow your online business you too would discover benefits and drawbacks. 

Basics of Online Buisness

Teaching you how to make money while you sleep.

Have you ever thought of starting an online business? Are you fed up of your job or tired of getting up early in the morning? Do you want to earn extra cash outside of your job? Are you self-motivated? 

If you answered yes to any of the above questions I believe this is the year you should start an online business. Anyone with a computer and the right business plan can start making money.

  

Online business, also known as, e-business is any type of business activity taking place online (via internet). Many companies today such as eBay, Amazon and Hubbox Grocery Trinidad operate in this digital environment where they capitalize on income strategically.

Moreover, several entrepreneurs are venturing into this type of business which offers freedom to work from anywhere in the world apart from lowering overhead costs. People buy the most bizarre things over the internet, so if you are thinking your idea is stupid I want to stop you right now.

 Once you find your niche and you know your target audience you can focus on your strengths and expand your networking capabilities. Interested to know more? Well! Continue reading on :)