Harnessing the Web for Market Research

Posted by
208 visits
Posted in

What does it take to turn someone into a paying customer? More importantly, in the face of competition, how can you make customers loyal to your business? Getting the answers to these million-dollar questions would pave the way for your business to grow. Big businesses commission market research to learn such information. From its results, they can decide which trends, […]

What does it take to turn someone into a paying customer? More importantly, in the face of competition, how can you make customers loyal to your business? Getting the answers to these million-dollar questions would pave the way for your business to grow.

Big businesses commission market research to learn such information. From its results, they can decide which trends, expectations, and segments to pursue. Having access to such insight can greatly improve products or services, and help affirm which has the most profit potential.

As defined by Investopedia, market research is a way for businesses to “discover who their target market is and what these consumers think about a product or service.”

As straight-forward as it sounds, market research can get messy when the right questions are not asked. Organized effort is needed to come up with a conclusive report.

For many budding cyber businesses, there’s usually no budget for formal market research. Good thing is, by just being in front of you computer screen, you already have access to a wealth of data that’s as helpful as any expensive FGDs or UAI studies.

With a trained eye for detail, here’s how you can do market research with a shoe-string budget.

Crowd-source for appeal

With crowd-sourcing, the general idea is to follow the wisdom of the crowd.

Platforms such as Kickstarter can help you test your innovation. With no money spent, you could find out if your idea stands a chance in the market, and if investors are willing to fund it. It’s inexpensive to set up an account in these online communities. However, your idea has to be intriguing. You need to pique the interest of a considerable mass to get helpful feedback.

Moving closer to your own network, your social media connections are themselves a ready audience. Just post a question or create a quick poll (which is both available in Facebook and Twitter). If you have a dedicated business page, you can use profiling tools to zoom in on your ideal audience for response. Select the location, job titles, or interests of your target crowd.

Listen with a purpose in social media

While crowd-sourcing is an active process, social media listening is often done in stealth mode. Here, your task is to find actionable suggestions, complaints, or requests voiced online. Though there’s a lot of noise out there, you’ll find that your target market is already raving about features they like, complaining about poor service, or wishing for product changes. Such data can also reveal your competitors’ weak and strong points. See if there’s a stated need that’s not being currently met.

With the right keywords around your specific business or general industry, you can find and filter these information quickly. Conversely, learn the vocabulary that your customers use in social media to refine your messaging. You also want to spot trends and use them to your advantage. When there’s an opportunity, directly converse with prospective customers as well.

Heed user reviews and ratings

Make your own website or affiliates double as catch-basin for opinions from your customers. Embed satisfaction ratings, commenting, or short surveys right within your business pages. Congratulations if you’re winning raves! It’s a good showcase because user-generated content is perceived as more authentic than any form of advertising.

Consider it a blessing in disguise as well if you publicly get thumbs down or two-star ratings. It’s as real as it gets when you hear back from your customers. If the negativity is unwarranted, just ignore them and strive harder to always deliver your best. But if your customers echo the same complaints and concerns, deal with it promptly as it could save your business.

These are just some ideas on how you can get the pulse of your market. Combined with numbers you can get from analytics, these kinds of qualitative data from the Web can supplement or even supplant traditional market research. Businesses that better understand their customers get ahead of the competition!

close

Want more expert tips? Get a copy of Cyberpreneur Philippines from leading bookstores, or order from us!

Recent Posts

Loading…

3 Things to Consider When Choosing a CRM for Small Businesses

By using Customer Relationship Management (CRM) software, many small businesses have become more efficient and have since fast-tracked their digital transformation. A CRM for small businesses provides one-stop shop to record customer interactions, manage communications, and align internal processes for an improved customer experience. But with varying features – from business forecasting, contract management, to call center handling – how do you make sure that your investment in a CRM system is worth its buck? In terms of return on investment, G2Crowd‘s latest survey reported that it could vary from as early as 3 months to as much as two years time. If you’re a small business owner, it’s especially important to choose a system that fits your needs and hits the ground running. When deciding which CRM to choose, you can’t go wrong in prioritizing these elements: Easy to learn and use Some are put off by outdated-looking user interfaces in legacy CRM systems. Confusing UI and cluttered forms add to the steep learning curve that makes many CRM implementation fail. Per data from G2Crowd, some CRM for small businesses have adoption rates that fall below 50%. As with anything, complex is not necessarily complicated – so simplicity is […]

Playing to Earn: How to Start Your Business like an e-Sports Gamer

Like a game that’s full of twists, turns, and challenges, you never know if the step you’re taking is leading you towards victory. Nevertheless, perseverance is a virtue. That’s why against all odds, you try. The same can be said of Theo Ignacio and Derick Cubangbang, captains of e-sports teams TeleTigers and Viridis Arcus, respectively, in successfully achieving their goals. A person playing a strategic game is no different from a person starting a business. As e-sports team captains, they share these tips on how to succeed in your online venture: Prioritize what’s important Starting at the bottom is challenging, if not difficult. Without much experience, it’s not surprising for someone setting up a business to try and do a lot of things in one go. It’s human nature to aspire for more. That, however, is not smart. The truth is, by trying to accomplish many different things at once, you often lose sight of what you already have, like your target audience, or worse, your identity. That’s why setting a priority – something that you believe in – is important, as Derrick said. Similarly, games are played with that mindset. Whether it’s a princess in need of saving, catching […]

Boosting Startup Support: the Dado Banatao Incubator

The Philippine startup scene is booming, with around 500 promising companies recorded by the Department of Trade and Industry. Since technology is the focus of many of these startups, the business aspect is sometimes neglected to the detriment of their growth and long-term survival. To assist with this problem area, the Dado Banatao Incubator (DBI) officially opens at the Asian Institute of Management (AIM) with support from Microsoft Philippines. “Our partnership with Microsoft is a strategic step in developing the startups at The Incubator,” said Prim Paypon, Executive Director of AIM-DBI. “Microsoft’s expertise in cloud solutions allows our startups to constantly improve its business processes and services to be customer-intuitive and responsive while being technologically advanced.” Physical space The partnership is a much-needed boost for Filipino startups intent on leveraging technology to expand and enrich their operations. The AIM-DBI is the country’s first incubator housed in a business school. It provides rent-free office space where startups create their technologies and run their businesses. Startups may also access to the graduate school’s campus facilities to better equip them in developing their day-to-day operations. The incubator is particularly interested to work with startups geared towards science, technology or engineering that introduce new alternative solutions to […]

Product Photography Tips to Increase Online Sales

What’s the first thing that you notice when you’re visiting online marketplaces? Is it the description of a certain item, or the image for the product? As humans, we’re visual in nature. For sure, most of the time, you remember product photography more than detailed description. Visuals can create an impact to get a response from a potential customer. It triggers a reaction – emotional, psychological, and even physical – among your audiences. Product photography can create a connection between the sellers and purchasers like you. Due to a shorter attention span nowadays, the challenge for online sellers is how you will attract and persuade potential customers before they move on or click out. Product photography is essential regardless of what you’re selling: it’s a major factor in capturing your customer’s interest. Here are some helpful tips on how to engage your potential customers using product photography: Show different angles As the old saying goes, “a picture is worth a thousand words.” It can also be applied to online selling for the purpose of helping the customers decide whether to buy a certain item or not. The customers cannot touch your products physically, but you can let them visualize your […]

How to Assemble a Virtual Team for Your Online Business

A cog, no matter how small, is necessary for a machine to function. Similarly, in an online business, although each person’s degree of involvement may vary, everyone in your virtual team contributes to making sure that goals are reached. An online business, just like any sort of business, is dependent on people. A team is necessary for a business to take off and scale. Employing the right kind of people is half of the puzzle. Setting expectations and keeping them engaged are equally important. Here are some tips to create and sustain a dream team for your online business. Make sure they’re trustworthy Anyone can hide in the anonymity of the Internet. The concept of “stranger-danger” especially rings true when you’re not physically meeting the people you hire. How do you know if these faceless people can really be trusted? Background checks and screening can go a long way. A simple look at their accounts on various social media platforms can serve as your first impression on your potential virtual teammate. Professionally speaking, you can browse their LinkedIn profile. To ensure that you can trust their abilities as well, ask them to take a web-based test, depending on the tasks […]

How Customer Satisfaction Makes a Trustworthy Brand

Businesses only become sustainable when its customers are happy. But even when it happens, this stage is still very temporary. When customers sense they’re worth nothing more than their money to you, they’ll shop around and go to where they feel they’re valued the most. Customer satisfaction should be a cornerstone of your brand. With the global market today, competition is everywhere. Since the market has gone online, it’s harder to build trust between the customer and the business. With a well-developed brand, it’s easier to spot if a certain product or service being offered is reliable, or if it is a sham. Here are some tips to consider in ensuring customer satisfaction and establishing a trustworthy brand for your business: Be accessible Customers want to know the fine print about your business. Make sure to have your communication lines open – listing your social media accounts, hotline numbers, and even operating address makes a huge difference. Return the favor by assisting them and eliminating their worries. This would lead to your brand’s credibility. Be honest Being open about both your business’s strengths and weakness (or more aptly, your limitations) lets your customers know you have their best interest at […]

Content Writing as a Top Freelancer Option

Content writing is writing for online audiences to engage them in different platforms. Businesses and branding agencies look for content writers because they help increase credibility and sell more through the stories they attach to products. If you want to earn money, content writing is one of the popular skills to offer online. But is the freelancing potential behind content writing worth pursuing? After finding lots of free time to spend while she’s still in college, Melissa Cabral discovered content writing. Now, she’s a freelance writer/editor, illustrator, and content strategist. On the other hand, Tina Santiago-Rodriguez, owner of the award-winning blog TrulyRichandBlessed.com, tried content writing as a way to supplement her income for her family. After trying their hands in weaving words for online content, both didn’t let go of content writing ever since. Here are their reasons why. Work where and when convenient You can spend your free time doing whatever you want as long as you submit the commissioned content on time! Melissa takes this further, and admits that she also enjoys being able to work from multiple devices, thanks to cloud syncing. She would even write first drafts on her phone on her daily commute since the […]

Online Sellers: How to Deal with “Joy Reservers”

If you’ve been in an online business for quite a while, for sure you’ve already met “Joy”. She’s the one who would comment or message with all-caps and multiple exclamation points about how she loves what you’re selling. She would even tell you a back story on why she loves it, and then proceed on asking lots of questions. And of course, she would reserve the item enthusiastically, promising to pay next week. But she won’t. “Joy Reserver” is an online selling jargon that means a buyer who enthusiastically shows interest on an item, but will not actually buy it. As an online seller, you may have already encountered several — if not many — of these people, who don’t even qualify to be called “buyers.” Aren’t they annoying? That the customer is always right is of course a hyperbole. As classic business wisdom, it just means that we must be patient with our customers — even just the potential ones — as best as we can. Like in other aspects of life, in business, we put reason above emotion. Set a reservation period Setting a one-week reservation, for example, not only prevents Joy Reservers to delay their orders, but […]

Why Get a Virtual Office for Your Startup or Online Business

If you have a tech startup or an online business, you’re most likely doing most of your work right in your own bedroom, on a neighborhood cafe, or just about anywhere convenient. At one point, however, you might be asked by clients where you’re operating. Or maybe you’re ready to formally register your business. Does it mean that it’s time to reconsider your setup? Don’t move out and rent just yet! A virtual office might come in handy. A virtual office is a setup where a leasing company would allow you to use their address for a fee. You can officially use their address even in your business registration and other transactions. Because there’s actually no physical office space involved, you’re just going to pay minimal fees. In effect, you’re renting yourself a mailbox. It’s a great way for getting yourself a prestigious business address that you won’t otherwise be able to afford in the meantime. Sounds great? Here’s when you should get a virtual office for your business: You’re wooing big deals From the perspective of your clients, a business address would make you more attractive to enter into contract with. Especially when you’re chasing after investment money, you […]

What to Learn from Singapore’s Topping the Global Cyber Security Index

According to Global Cybersecurity Index (GCI), Singapore took the crown as the most committed player in terms of cyber security, even beating out runner-up the United States. The Global Cybersecurity Index examines the defense capabilities in 134 countries based on five factors: technical, legal, organization, cooperation, and growth potential. The GCI also makes a fascinating observation that while wealth breeds cybercrime, it does not automatically generate cybersecurity. In the same index, it showed that only half of UN member states had a coordinated national cybersecurity strategy. Cybersecurity initiatives should be planned and prioritized For more than a decade, Singapore has taken steps to make cybersecurity a priority in all approaches. Singapore launched its first cybersecurity master place as early as 2005. While Singapore takes pride in its position it should focus on fortifying its digital fortress against crippling attacks. The recent WannaCry and NotPetya ransomware attack were quickly recognized as a stark reminder of Singapore’s vulnerability to cyber assaults. At the same time, the growing cyberattacks were getting more sophisticated and damaging. In addition, Singapore noted that attacks worldwide specifically targeted transportation networks, healthcare institutions, utility plants, and other important infrastructures. Singapore has issued a  cybersecurity strategy that marked the […]

Preparing Your Business for Generation Z

From the fixation of businesses in recent years with millennials (those born between the early 1980s to mid-1990s), many are now shifting their attention towards the millennials’ successors: Generation Z. How can products, services, and marketing approaches be devised to attract this new target population? Gen Z is generally the future of retail. Born after 1996, this emerging generation has a new worldview and different expectations as customers compared to generations prior. Marcie Merrimen, executive director of growth strategy and retail innovation at Ernst & Young mentioned to Business Insider that “if you see it from a spending perspective, teens or Gen Z are millennials on steroids.” Important Generation Z Characteristics that Businesses Should Know About Gen Z’s non-traditional mindset and different communication styles pose challenges to reach out to this population effectively. Gen Z are the most influential group of technology trendsetters, offering a prequel to predict upcoming trends in the aspects of retail, technology, and consumer behaviour. Hence, it is important for businesses to understand key characteristics that make them stand out from the past generation of consumers to identify effective ways to approach this generation. Despite sharing many similarities with millennials, there are also key distinctions that […]

Cryptocurrency and the Future Economy

The infamous Bitcoin is taking over fintech, and it’s at an all-time high in emerging markets. Investors and mainstream media from around the world are embracing and endorsing Bitcoin. People’s Daily, China’s largest mainstream media company, defined Bitcoin as digital gold. Brave, a startup company, launched a coin offering to fund a new web browser which led to the successful raise of $35 million in just 30 seconds! Amid all of these exciting developments, authorities and key financial institutions have debated the future of cryptocurrency and its place in our society. Several commentators compared cryptocurrency to a bubble in the making. Yet, there are other players who see a huge potential in “cryptocurrency once proper things are in place.” Viable Alternative to Replace Reserve Currencies Investment firms in South Korea, Japan, India, and even Australia discuss the possibility of Bitcoin surpassing the value of certain reserve currencies in the future as a viable alternative to replace reserve currencies. All these talks of how it can be an alternative monetary and financial system definitely warrant serious evaluation. According to ABC News, it is now possible for Bitcoin to replace reserve currencies such as the US Dollar in the next 10 years […]

Code For Asia’s Code-a-Thon for Change

Advocating for youth empowerment through education, specifically technical and computer skills, has been the driving mission of Code for Asia. Its founders have originally taught kids in traditional classrooms, remote villages, to where they would have waited for migrant-worker parents. From a Singapore-based society, it has now made wider impact across Asia. It is in settings beset by chaos, scarcity, and fear that the organization wants to promote computer literacy. “In practical terms, this means that our coding classes are not just about technicalities and the mechanics of making an app but getting these children to believe in their abilities to create as well,” reads the mission statement of Code for Asia. Why Coding? Code for Asia believes that technology (or the lack of effective use of it) can be a source of much inequality. Learning how to code flattens the digital divide, since it gives the youth “new literacy that is richly rewarded in our Information Age”. Without proper guidance, kids can easily fall prey to mindless entertainment when they could be designing and making their own apps instead. The Code-a-Thon The Code-a-Thon is a learning-intensive experience where beginners and experienced programmers, designers and business people alike come together […]

Setting Up your Custom Email: The Free Way

Already secured a domain name for your business? After using it for your website, the next thing you’d want to do is to set up your custom email. This means receiving and sending mail as juan.delacruz@customdomain.com rather than from a generic Gmail or third-party account provider. Having this ability sets you apart as a serious business, however limited your initial offerings or small your initial market is. The great Zoho option If you’re looking for a free service to customize your email from your domain name, Zoho is your best option. You can create up to 25 free accounts for your domain in Zoho. At no cost, there’s really no better deal since it also gives you POP/IMAP, Active Sync and configuration settings. To link your domain with Zoho and set up as an administrator, follow the detailed steps provided by Zoho. Forwarding emails to Gmail If you’re one of the many people that depend on Gmail, you can automatically forward emails you receive from your custom email account in Zoho to your existing Gmail account. Follow these steps to configure your account. 1. From your Zoho inbox, click the settings icon, and then click Settings. 2. Under Mail settings, […]

5 Ways Online Content Grows Your Business

How does online content contribute to business growth? I was invited to talk about this topic at this year’s Jumpstart seminar of the Young Entrepreneurs Society – University of the Philippines chapter. From my talk, here are some highlights on the things that online content does for today’s businesses – be they brick-and-mortar or cyber-businesses, startups and established ones alike: 1. Make your business searchable The very first thing that online content should do is to make your business found by customers. On the Internet, you don’t exist as a business without content, period. Especially when you’re starting out, you have to invest time and effort to establish your online presence. To help you with “search engine optimization”, you need to research the keywords that your users are searching for. Your website should also be compliant with industry standards, making sure that metadata and correct tagging are in place. To increase the likelihood of your target customers finding you, you have to be in social media platforms where it makes sense. 2. Establish your credibility Content is also your key to gaining your customers’ trust. It’s how you can communicate that you’re a dependable business to transact with. To do […]

What is FinTech and How It Affects You (And Your Business)

Hailed as a game changer, FinTech (otherwise known as “financial technology”) is seen to transform financial services in infinite possibilities. It has been many decades ago since there has been a real shake-up in the realm of the financial world. New and young players alike will experience its sweeping changes on how we manage finance and run businesses professionally. What is FinTech and Why It Matters to You FinTech can be best defined as technology that imparts disruptive elements (in a good way) to areas such as money transfers, mobile payments, fundraising, loans, asset management and even investment. In layman’s term, it is the thing that enables you to have access to various financial services from your own smartphone, tablet, laptop and other electronic devices. Furthermore, FinTech is one of the hottest areas that receive massive investment from around the world. This accelerates its exponential growth. Whether you like it or not, FinTech is about to drop a bomb on everyone. It’s very important to know how it can change money practices that we think we already know. FinTech: Threat or Opportunity for Business Owners? While one may argue that FinTech is just a change of paces and phases, the […]

Productivity Tips to Fuel Your Cyber Business

Productivity is the biggest elephant in the room when it comes to work, online or otherwise. Not everyone understands how effectiveness is far more important than efficiency. A hard worker who spends 8-hour days sending 1,000 emails with zero results is efficient in his e-mailing, but another worker that sends just 100 emails and gets results is effective. Productivity tips are a dime a dozen but listed are just four to systematize, prioritize, focus and eliminate distractions in order for you to perform in an optimal state to create high value work. Save the best for last The most precious asset we have besides our time is our willpower. There have been experiments conducted by researchers to exhibit the fact that we only have a limited amount of willpower each day. In one experiment, volunteers who were asked to suppress their feelings as they viewed an emotional movie gave up sooner on a test of physical stamina than did volunteers who watched the film and reacted normally. Having your least enjoyable task to be done early in the day utilizes your fully charged willpower. As you progress slowly to your most enjoyable task, your willpower depletes. The most favorable task […]

Coupons as a Win-Win Strategy for Any Online Business

Gone are the days when coupons are cut out from newspapers and magazines. Online businesses have digitized the tactic. For customers, coupons are a lifesaver, enabling them to purchase favorite items with huge discounts. Use coupons as a way to promote your business and enhance customer loyalty. How to maximize your coupon page For many e-commerce sites, coupons encourage customer to shop more at your website. Coupons are a win-win situation for both businesses and consumers. If you want to boost your coupon campaigns, you have to start by creating appealing coupon designs. Laying down the basics, your coupon should contain important information such as merchant logos, a brief description, and emphasis on the discount or amount off purchases. Make sure to feature good brands in your e-store, since it not only encourages more shoppers to buy from you, but also strengthens your credibility as a coupon provider. Like all things on the Web, coupons need to be regularly updated, so check for validity and promo expiration. What customers get from coupons The most important part of any coupon campaign is how much the customers get when using your merchant coupons. Shoppers love discounts, so attract them to your site […]

Focusing on the Startup Advantage: How to Beat Big Corporations

Challenging the big guys as a startup is no easy feat. Small businesses have their work cut out for them: obviously, they have limited funds and manpower to compete with conglomerates. However, there are many startup advantages that smaller businesses have over their larger counterparts. Most successful startups that were able to disrupt markets will tell you that it was their ability to listen to the market and the sheer speed of implementation that shaped their success. Ability to listen to the market You get what you focus on. When a company gets bigger, more departments are formed and more responsibilities are segmented. As a result, the larger the pie to handle, the more energy is needed to keep everything running. This leads to becoming more distant from personal contact. Jack Ma, chairman and CEO of Alibaba Group, said that whenever he goes to lecture in big companies, what he sees are concerns for numbers and KPI’s. But when he gives talks to small and medium sized companies, he sees passion and dreams. Get feedback from your customers, all the while considering what is best for the direction of the company. The next step relies on this. We are so […]

Hiring and Firing in a Startup (and Understanding Why Staff Quits)

There’s this old idea in Silicon Valley that says: “hire slow, fire fast”. However, this idea doesn’t work with a startup. You would need as many good hands as possible to keep your ship from sinking. So instead of hiring less people and firing more, you need to “hire fast, fire fast”. As much as possible, retain all your good employees and weed out the bad ones, which could heavily affect productivity. Instead of firing someone, what you need to do is screen your potential employees before signing their work contract. What to look for in a potential employee In an interview, every person you shake hands with seems to be a pretty good candidate for the job. You would want to hire everyone that comes through that door (if you have the budget for it, why not?). Interviewees might have experience, but they might not have long-term commitments nor willingness to adapt to your work environment or the demands of the industry. What you need is an employee that has 5 or more of these traits to help man your startup: Drive Startups need manpower that would help the company move forward. Even if it is outside the job […]

Best Money Management Apps for Cyberpreneurs

Everybody uses smartphones and tablets these days, making them the perfect tools to accomplish tasks that ordinarily you can only do on your computer. Now, you can sign contracts, make presentations, edit movies, and even manage your finances just by using your phone. Here are some of the best money management and savings apps which you can download that can help you with your finances. CoinKeeper This is an easy and simple budgeting app that allows you to track where your money goes and to plan for incoming expenses. Unlike other money management and budgeting apps, this one has a fun and nice-looking coin interface. It lets you create monthly budgets and manage your accounts, balances, and expenses without having to leave the app. You can set reminders for upcoming payments, and export your data so you can view them on your computer. It also provides detailed statistics of your finances, which is very helpful in managing your finances. (iOS, Android – Free, Premium paid version.) Fudget Fudget is a free app that lets you make simple lists of incomes and expenses. It’s very easy to add or edit items, and you can mark certain entries to repeat weekly or monthly. […]

Could Your Business be Suffering Because of Bad SEO?

You’ve probably noticed how SEO is getting more attention from the media. Some even say that SEO is dead, and that investing in it is like flogging a dead horse. But these statements are wrong because SEO is more alive than ever. However, people are ignoring this rich advertising possibility because of these rumors. Many statistics are saying otherwise. The truth is that SEO can help you to expand your business, improve your marketing strategy, and make a bunch of money. Here are some of the most important reasons why you should develop a proper SEO strategy. Marketing benefits If you are not interested in SEO, you’re missing a great marketing opportunity. Google algorithms are based on its principles. Surely, you want your website to rank as high as possible. People browsing the Net are not checking only one term on one website – they try different websites and modify their search terms. So, what can you do? You can offer your customers a great variety of material. This way, if they modify the term, your page will appear, again and again. Google will notice this and you will be one step closer to appearing on the first page. The rise of online customers It […]

5 Things Playing Pokémon Go Can Teach Cyberpreneurs

Pokémon Go is nothing short of a worldwide craze. For the uninitiated, the game requires you to be alert to spot Pokémons and catch them with Poke Balls. There are stubborn Pokémons that can use up your Poke Balls and escape when captured. To get more balls and other helpful items (such as potions and eggs), you have to find Poke Stops. But there’s more to it than just an AR-enabled game. It’s turning out to be a business opportunity as well, especially for brick-and-mortar businesses such as restaurants. For cyberpreneurs, there are also great lessons to learn. Here are some. 1. Take more of the same to evolve A Rattata again? You may think you’re getting more of the same, and might even be tempted to pass up such leads. However, like your Pokémons, you can only evolve into something bigger and stronger if you’ve paid your dues (not necessarily with candies). For now, you may be struggling with your seventh blog post for a client about Creatine health benefits. But one day, you might have an online PR empire of your own to run. 2. Bring opportunities to where you are You can get the same opportunities without going […]

5 Practical SEO Tips To Boost Your Online Business

The website for your online business is not just about selling. It’s also for finding the right customers, influential people, and other websites that can promote you. Your marketing team should be spot on in finding online opportunities for maximizing exposure of your products or services. But how can they do this? Here are some actionable steps from the speakers of PeepCon 2016, the Philippines’ premiere search engine optimization conference organized by GDI Online Marketing. The event featured internationally acclaimed SEO experts such as Mike King, Dan Petrovic, Jon Cooper, and Jason Acidre. UX signals search engine about the quality of your content. User experience (UX) is a big indicator for search engines if you have a high quality website that they should rank higher for related keywords to your business. If you have your own e-commerce site, build your customer journey in the most convenient way. Do you have all the information that customers need in one page, or do they have to jump to different pages just to find relevant content? They may also leave your website because it takes too long to load, which is a big consideration due to the internet speed in the Philippines. Stop […]

Putting Your Business on the Map: 6 Brand Awareness Strategies

There’s constant competition between brands for market domination. When companies are small, this can be done with quality improvements and price adjustments. But as businesses grow, there grows the competition too. The market battle becomes tougher. This requires taking extra moves in order to maintain and keep the customers interested. Brand awareness comes into play due to customers’ most important requirement that they’re usually not aware of (at least not always) – the emotional need. How to define brand awareness? Put simply, in the words of Jeff Bezos (the founder of Amazon): “Your brand is what people say about you when you’re not in the room.” One of the key steps in promoting a product is creating brand awareness – or the likelihood that consumers recognize the availability of a certain service or product. It is a rudimentary form of brand recognition. It’s important to distinguish it from brand recognition, although the difference between them is subtle. If the purpose of brand awareness is having customers keep coming back to you and having your products as their products of choice, then increasing it is extremely important. Here is what you can do to increase brand awareness. 1. Engage in social […]

Getting Started: Popular Types of Online Businesses

Every business starts with an opportunity. Your online or cyber business idea has to be rooted to a real-world problem that a group of people are dealing with. In short, you’re selling a solution. You have to think about a particular problem, and then figure out what type of business you’re in. Broadly speaking, there are 3 categories of online businesses: service-based, knowledge-based, and product-based. Here’s a video we’ve prepared to give you a short introduction: Service-based online business This is the easiest type of online business to launch. Just by being online, you can reach out to potential customers – people or other small businesses – who need your service. There are many job sites where you can get projects from. Or you can even just promote your service right on social media, maybe a friend of a friend has an urgent requirement for your skill. Writing, designing, and coding are some of the most in demand skills that you can offer via the Web. Selling your services is also a good way for building the skills and experience that you need if you plan to transition to a new career. Knowledge-based online business If you have expertise or […]

Controlling Your Business Finances with Smart Planning

Profit is what defines business success. But to be more successful, profit needs to be reinvested in your company’s development. This is especially important when it comes to small businesses, including online businesses, since it’s often harder for them to overcome market challenges imposed by big corporations. There are many ways how cyberpreneurs can control business finances in order to save more money and grow their business with it. Here are some tips: Pay attention to financial statements For controlling your finances, you need to use different kinds of financial statements. These help you articulate your profits and losses, and make them more transparent. Transparency will enable you to create detailed financial plans and forecasts. For a start, make sure to prepare these important financial statements: P&L Statement. It summarizes your revenues and expenses in order to create clear picture on company’s profits and losses. Cash Flow Statement. It provides you information on cash amount and sources, as well as how you spent money for a certain period of time. Balance Sheet. It analyzes your company’s assets and liabilities, and tracks changes in a segment that happened in a certain period. Although it’s similar to your company’s market value, it […]

Kim Lato: How to Start and Sustain an Online Business

Starting a business isn’t easy, and sustaining one is even harder. How did Kimstore, an online marketplace for gadgets started by Kim Lato in 2006, grow from a humble Multiply outlet to one of the pioneers of e-commerce in the Philippines? Kim Lato talks about the challenges of starting and sustaining a business. Before Starting a Business When asked if she knew from the beginning that she was going to be an entrepreneur, Kim answered, “I came from an entrepreneurial family, so it was normal for me to see my parents running their own businesses. Then when it came time to start my own, it was easy for me to welcome the idea.” Multiply, which was where Kimstore started, was used mainly as a social networking website. So how did she think of using Multiply as a marketplace? “I had a pool of friends on Multiply, which at the time was the fastest-growing social network. Usually, people just blogged on it, but I thought, ‘Hey, I have friends on Multiply, so why not sell in this community?’ “So I started selling cameras, lenses, and other accessories. Then, people who bought cameras from me were also looking for phones and tablets, […]

Art of Business: 4 Tips to Guide Designers

“Developers should code, while designers should study business.” Makes sense? Internet businesses, like every other company, simply couldn’t function without designers. In the digital landscape, visuals can make a business stand out. With the need for quality designers constantly on the rise, they need to focus on what they do best. Being skilled at coding might be one of the requirements for today’s designers. But it’s not a completely reasonable demand since there are a lot of people who have mastered coding without any major success in the field of design. The most successful designers are those who can see the big picture, and the only way to get there is to closely study business. 1. See the big picture When they first get hired, most designers just get a task (or several ones) with a vague explanation of what’s expected of them. Read: they’re to do miracles. Even though there are some exceptions, most designers, although obsessed with their work, seldom ask the question of “why am I doing this, and to what end”. Some may laugh at this thought, and even call such questions unnecessary and redundant. Don’t forget though that an understanding of a specific industry can contribute and drive design in many productive ways. 2. Stay relevant The most innovative companies in […]

Harnessing the Web for Market Research

What does it take to turn someone into a paying customer? More importantly, in the face of competition, how can you make customers loyal to your business? Getting the answers to these million-dollar questions would pave the way for your business to grow. Big businesses commission market research to learn such information. From its results, they can decide which trends, expectations, and segments to pursue. Having access to such insight can greatly improve products or services, and help affirm which has the most profit potential. As defined by Investopedia, market research is a way for businesses to “discover who their target market is and what these consumers think about a product or service.” For many budding cyber businesses, there’s usually no budget for formal market research. Good thing is, by just being in front of you computer screen, you already have access to a wealth of data that’s as helpful as any expensive FGDs or UAI studies. With a trained eye for detail, here’s how you can do market research with a shoe-string budget. Crowd-source for appeal With crowd-sourcing, the general idea is to follow the wisdom of the crowd. Platforms such as Kickstarter can help you test your innovation. With no money spent, you could […]

How Good Web Design Can Help Your Business Thrive

The first thing your potential customer will probably do is visit your website. From that single visit, your customer will form opinions about your brand, product, or service. According to a Stanford Persuasive Tech Lab study, nearly half of all consumers (46%) said that a site’s design is the number one criteria when people are deciding whether a business is credible or not. If there is too much scrolling and clicking, or if the site is not well organized, the average consumer will navigate away after 60 seconds tops. Anyone can build a website these days, but it takes a skilled specialist to build a site that looks polished and professional. One glance could turn someone into a loyal customer, or force a person to click away. If your company is looking into the possibility of designing a new site, here are some of the ways it will help your business grow. Digital presence is everything A survey from Visible Logic found that almost 90% of respondents take a look at the website of every new product they purchase. People will turn to the Internet to research your brand and formulate their opinions – sometimes even long before they make a direct contact […]

Running a Successful eCommerce Business: What It Takes

There have been substantial changes in the global marketplace over the past decade. It has undergone a major shift, and businesses today are not limited by geographical location or borders. The only things that count are the amount of willingness and creativity in adapting to new technologies, and finding new ways for using them to your own advantage. Business owners and entrepreneurs who want to launch an eCommerce business should know something about the eCommerce industry and what it takes to achieve and maintain success in it. The eCommerce Industry There appears to be no essential limit to strong and steady business growth in the eCommerce industry. In the past decade, all vital metrics in the eCommerce field have increased, and with a broader reach and lower startup costs, more and more entrepreneurs are switching to online retail. According to facts presented by BusinessInsider, people aged 18 to 34 remain to spend more money online than any other age group, and the majority of online shoppers tend to have incomes higher than typical (above $75,000). If you have an idea for starting an online eCommerce business or launching an eCommerce branch of an existing brick-and-mortar store, the time to do it […]

7 Reasons Why the Internet is VERY Important to Entrepreneurs

The rise of the Internet age has given us far more than just the capability to connect with friends or upload selfies online. It has also given modern entrepreneurs capabilities not possible several decades ago. As an online marketing consultant, one of the perks of my work is that it gives me a front row seat on the evolving landscape of business, and how the Internet is helping businesses who take the initiative of incorporating online elements in their operations. It also makes those that don’t obsolete in a matter of years and even months. Whether you have a primarily online or offline business, chances are Internet tools, widgets, plugins, apps and features play an important role in ensuring the success for your business. The following are some concrete examples: 1. Cheaper start-up cost The Internet has made starting a business simple and cheap. With just a website or even a fan page, you can already start a multitude of businesses – such as a bakeshop, an apparel store, or a bookstore – without the need for a brick and mortar office or shop. This also makes it very easy for you to test the validity of your business idea.  […]

7 Business Tips from Marvin Germo

Apart from being a reputable stock trader/analyst, Marvin Germo is many things: entrepreneur, blogger, book author, newspaper columnist, and registered financial planner. All these, however, are just his ways and means of fulfilling his ultimate goal: financial freedom for every Filipino. Now, that might sound like a lofty dream (and indeed it is), but if Marvin’s life is an example, nothing is impossible. From completely ordinary beginnings, Marvin is now one of the leading finance experts in the country. He represents Registered Financial Planners (RFP) Philippines, an independent self-regulatory professional group educating and gathering financial planners in the country. He writes regular columns on stock investment for the Business Mirror and MoneySense Magazine. Marvin, who often appears in TV and radio interviews, also shares financial knowledge as a keynote speaker in various events and seminars. Here are insights on how he was able to carve his own path toward financial freedom through entrepreneurship. 1. Being an entrepreneur is a decision. Marvin wasn’t born to a particularly wealthy, business-minded, or financially-savvy family. His father, for example, was a long-time employee of a top multinational pharma company up until retirement. Marvin himself seemed destined for the same, safe path, having started out […]

5 Social Media Marketing Tips For Your Food Business

In today’s vibrant online market, it’s not enough to create content for your customers and audience through your website or blog. There needs to be an interaction done to establish your brand as a thought leader and as a trustworthy creator of yummy treats. But how do you reach your audience effectively at social media? Here’s a low down of some tips that you can use: 1) Take great photos of your products. The first impression you make using your products will be the first step of convincing potential customers to buy it.  This can be done by hiring a professional photographer to take art-directed shots of your food to make it appetizing on social media. For a more budget friendly approach,  you can get inspiration from food photographers online and take your own shots. Many free photo editing apps are available for smartphones to help you post-process your shots in an instant. This is also convenient since you can upload it immediately upon shooting and post-processing. 2) Follow influencers, media, and potential customers who fall under your target market. Doing this can not only make these people notice your brand, it can also help you gauge what type of content they like […]

Creating Likeable Content: 5 Tricks from Craft Masters

To get your cyber business found online, you need likeable content. The challenge is that there’s really no formula that can guarantee if your content will ever reach its ideal users or deliver on its purpose. If you need inspiration on how to start, we’ve expounded on popular statements from some of the most prominent brand gurus, bloggers, and content marketers: We’re not in the Mad Men era anymore. Expensive campaigns from advertising agencies are routinely trumped by amateur content for most impact. Seasonal campaigns won’t cut it for today’s generation. Your customers are connected 24/7, and are from all over the world. To be convincing, you have to address their unique interests, pain points, and felt needs. Going viral (the good kind) with your content is more a matter of chance than careful execution. Pulling PR stunts won’t work. People can detect what’s contrived, and they may even hijack your message. Start with a good reason for creating content. If you care enough about your message, the right people will eventually find and appreciate your content. They’re the ones who will contribute to your bottom line. When have you ever actively searched for an ad? If you’re like most […]

5 To-Do’s in Your Social Media Calendar

Whether you’re posting on your social media accounts once a day or a few times each month, planning and plotting your activities in a social media calendar is a life-saver. A social media calendar gives a snapshot of when and what kind of content gets into which channel. It not only helps in publishing and tracking content, but serves to remind as well of business goals, target audiences, and expected outcomes. For the actual posting, you can easily automate the process using tools such as Hootsuite. Some businesses maintain a weekly social media calendar with details prepared in advance. They identify themes and organize posts around it. For others, a monthly social media calendar—with periodic and flexible updates—can be enough. Here are some basic rules when putting up your calendar. Post at the right time Any upcoming event (or trending topic) that your post could piggyback on? For ordinary days, what’s the best day of the week to engage your audience with the type of content you’re posting? “Monday” and “Friday” spell a huge difference in people’s psyche. People check Facebook 14 times on average and spend 30 minutes on it each day with peak times at bed time and […]

3 Ways Your Cyber Business Can Benefit from APEC

With the theme “Building inclusive economies, building a better world”, the 2015 APEC Summit that’s currently hosted by the Philippines puts emphasis on sustainable and resilient businesses. This extends to cyberpreneurs, who stands to benefit from APEC’s renewed push for liberalizing service industries. Gathering 21 member-economies from across borders of the Pacific Rim, Asia-Pacific Economic Cooperation (APEC) is where almost half of the world’s total trade happen. At first glance, it may seem that APEC is all about corporations, regulatory bodies, and economic ministries. But the importance of MSMEs (micro, small, and medium enterprises) in the region cannot be discounted. As highlighted by APEC’s Small and Medium Enterprises Working Group, MSMEs comprise over 97 percent of all enterprises and employ more than half of the workforce in the region. As many MSMEs move to the digital front, how can you benefit from APEC? 1. Join APEC start-up challenges Started in 2013, the APEC Start-up Accelerator Initiative is on a mission to match tech start-ups with possible mentors and funding opportunities. It offers hands-on business consulting among start-ups engaged in key innovation areas (such as interactive learning). The initiative has since sponsored six Asia-Pacific start-ups to participate in competitions held in Silicon Valley, helping […]

5 Ways to Have Fun While Working from Home

Who says that you cannot have the time of your life while working from home? Working from home is undoubtedly fun! With more than six years as a cyberpreneur, I’ve had my share of ups and downs. But nevertheless, about 70% can be linked with F-U-N. True story. So yeah, here’s my list of things to do or things to think about to have the best-est days as an online entrepreneur. 1) Define fun What does “fun” mean to you? Get clear with it and work from there. We surely have various perspectives, so what might be fun for me might be different from you. I might envision fun as curling up with a nice book or you might consider heading to the beach to spell “fun”. Mull over this for 10 minutes. Right down your answer. 2) Integrate passion with fun What is it about passion that makes people tick? And how is it connected with fun? Well, passion is all about what excites you. It’s all about what keeps you up at night without complaining at every bit of it. Whatever that is, keep at it. You’ll be amazed that work, when considered your passion, becomes stress-free. Passion […]

Digital Influencers and Startup Founders Gather for “Cyberpreneur Philippines” Book Launch

“Are Filipinos ready to do business online?” With innate talent, hard work, and determination, the consensus is that entrepreneurship in the country is poised to move to cyberspace. But awareness and Internet speed remain to be critical issues though. “The transaction part is there, the skills are there. It’s just a matter of awareness that these online business opportunities exist,” says Fitz Villafuerte, co-founder of 199jobs.com and a leading financial literacy advocate. “We are confident that this book will help in the realization of our dream of spurring online-based start-ups, services, and other innovative and up-coming products in our country,” notes Senator Bam Aquino in his foreword to the book. This was among the points discussed by some of the country’s leading online freelancers, startup founders, and e-commerce experts during the book launch of Cyberpreneur Philippines: Online Business Start-up Guide. The event was held on a standing room-only crowd last October 25 at Fully Booked in Taguig City. Cyberpreneur Philippines is a book on how to become an online entrepreneur. Edited by Ray Calbay, Marv de Leon, and Paolo Lising, the multi-authored book contains practical tips, insights, and expert advice on topics ranging from cyber business planning, social media marketing, […]

Winning Virtual Teams: When Working Alone Doesn’t Cut It

Being a cyberpreneur need not be hard. Considering the vast array of tools and techniques available to us web professionals, nothing can go wrong as long as we know the tricks of the trade. What could be that “little secret” to keep our online businesses flourish through time? The Power of “We” Having started my freelance writing career in 2009, I ventured onto the unknown path of a web content writer then. I racked gig after gig – writing over 5,000 words a day for a meager sum. Little did I know that there’s more to what I have been doing during that time. I would spend an average of six hours a day writing until my hands were sore. Well, not to worry, I thought, for by the end of the week, I would fill my heart’s desire – through new books I’d buy from the local bookstore (all from my hard week’s writing work). Months passed, and I realized how tough it really is to be a freelance writer. It took perseverance, commitment, and passion to weave through words. Months passed, and I realized how tough it really is to be a freelance writer. It took perseverance, commitment, […]

My Unexpected Journey As An Online Freelancer

Truth be told, the thought of making a career shift – from the office cubicle to my home desk – as a freelancer/cyberpreneur has always lingered in my mind ever since I learned about the concept some years ago. I’ve felt that working from home was an ideal setup. At least for me though, a shift that’s not in the immediate future, but after x number of years. With that in mind, I had a plan – not properly drawn out, but all there nevertheless. Building the foundations For the past 3 years or so, I began to establish the foundations of that possible next career phase. I looked for writing contributions, both unpaid and (especially) paid ones. I completely overhauled my old blog, as I migrated the site to a new domain and a new hosting service. I did so, for my site to have ads for some additional revenue. Then early this year, I made the move to get myself registered with the Bureau of Internal Revenue (BIR) as a part-time freelancer. Or as the BIR would classify freelancers, a professional. It was originally intended to fulfill the requirements of some publications that freelancers like myself should have official receipts to issue. But I was mindful at the same time that I would […]

Cyberpreneur Philippines Book Launch @ Fully Booked, BGC

Cyberpreneur Philippines: Online Business Start-up Guide, the latest title from PageJump, is your answer if you want to become an online entrepreneur. Edited by Ray Calbay, Marv de Leon, and Paolo Lising, the book contains practical tips, insights, and noteworthy suggestions to start your venture. Startup founders, top freelancers, and company CEOs contribute chapters about the many online business opportunities that enterprising Filipinos can take advantage of. Topics range from skills assessment, business planning, to important Web skills such as search engine optimization and social media marketing. Readers are encouraged to log on to the book’s companion website (www.cyberpreneur.ph) for more content or discuss in social media using the #CyberpreneurPH hashtag. “We are confident that this book will help in the realization of our dream of spurring online-based start-ups, services, and other innovative and up-coming products in our country,” notes Senator Bam Aquino in his foreword to the book. The book launch is set on October 25, 4:30 p.m. to 6:30 p.m. at Fully Booked, Bonifacio High Street branch. Those who will attend have the opportunity to interact in an open forum with the book’s contributors. The event is open to the public. close Want more expert tips? Get a […]

What I Learned From Marketing To Facebook Groups For My Cyber Business

So, if you are confident about your products and services and you don’t want to waste your time, take these learning into consideration and market wisely. close Want more expert tips? Get a copy of Cyberpreneur Philippines from leading bookstores, or order from us!

10 Reasons Why You Shouldn’t Use a Personal Profile on Facebook For Your Business

A lot of local businesses are opting to use personal profiles as their business’ main marketing account in Facebook. This is very risky and ultimately counterproductive. Here are several reasons you shouldn’t do it: Reason # 1 This is against Facebook’s terms of service. Your account might get DELETED anytime. They have already deleted many of these the past couple of years. If you’re using your account to represent something other than yourself, you could permanently lose access to your account if you don’t convert it to a Page. via Facebook Reason # 2 Friend limit is only up to 5,000. Local pages can have 10,000 fans or more. Reason # 3 There is no engagement insights in your personal profile. You won’t be able to analyze how many people see your posts, the age range or location of most of your fans, the best time to post, the best content to post, and the like. Reason #4 Advertising features are very limited in personal profiles. You won’t be able to ramp up your business exposure, if so. Reason #5 Additional tabs are only available in Facebook Pages, such as business event calendar, top fans tab, quiz tab, polls, and more. . […]

Which Pinoy Tech Founder Inspires You?

Filipinos are some of the most entrepreneurial people in the world. Many of our tech founders met international recognition, despite limitations in the local market. Find out which legendary Pinoy founder is your inspiration! close Want more expert tips? Get a copy of Cyberpreneur Philippines from leading bookstores, or order from us!

Startup Idea Checker: How Crowded is Your Market?

Could your startup idea thrive despite the market competition? You need to check if there’s opportunity to gain ground in your area. See how you’re likely to fare, based on Philippine Roadmap for Digital Startups data! close Want more expert tips? Get a copy of Cyberpreneur Philippines from leading bookstores, or order from us!

5 Common Ways to Fund Your Startup

Where would you get the money to make your cyber business happen? The answer will depend on the nature of your project, your business model, and your tolerance for risk. For a quick review of possible options, here are 5 models that you can use to fund your startup. Bootstrapping This means you’re using your own money for your business. This could also imply asking for investments from family and friends. A great majority of startups are created using this model, including eBay and Facebook. The challenge is, can you (or your immediate network) afford to use hard-earned personal funds in putting up your project? And support it for any number of months without guarantee that the business will break-even? It’s advantage is that you get maximum leeway with your vision without others getting involved or interfering with your direction. The challenge is, can you (or your immediate network) afford to use hard-earned personal funds in putting up your project? And support it for any number of months without guarantee that the business will break-even? Crowdfunding You pitch an idea, and then wait and see if a community will back it up. With online platforms like Kickstarter, it’s easy to make your case […]

Learning Your Way to Success: 5 Quotes from Business Visionaries

As you become more hands-on in your cyber business, you’ll sometimes feel unequipped to tackle some areas. You may be weak on managing your funds or mastering a new tool. Rather than feed the “impostor syndrome” that cripple many budding cyberpreneurs, consider it as a learning opportunity to master new skills and ideas. Get inspired with words of wisdom from some of the greatest business leaders. What you were taught in school could be soon outdated. Then there are new trends that are fast shaping the future. Learn more, or get left behind. The learning process is difficult, but you’ll appreciate how it makes you a better prepared cyberpreneur in the long run. Sure, you might encounter bumps and even fail as you apply learning into action. But don’t be discouraged, and instead treat it as a great opportunity. Your mistakes are a great source of learning. Pay attention to what your customers are saying, and turn their pain points into your competitive advantage. At the end of the day, you can never go wrong with furthering your education. Not only will you deepen your understanding of the world as a cyberpreneur but as a person as well. close Want […]

Start-Up Business Bill: What You Need to Know

The Philippines is getting serious in promoting startups as a way to grow the economy. Through Senate Bill 2217 or the “Start-up Business Bill”, the government hopes to set a favorable business environment for budding entrepreneurs. Before you get too excited, there are some caveats to the program since it’s designed for those new in entrepreneurship. The start-up business bill was filed on May 2014 by Senator Bam Aquino and is currently awaiting passage into law. Indeed, it’s a very positive step in recognizing the contributions of startups in: Job creation Production Innovation Trade What’s a “startup”? According to the bill, “start-up enterprises” are newly registered businesses either in industry, agribusiness, and/or services. Digital startups are covered under this broad definition, which also spans offline and more traditional sectors. It includes all ownership types – from sole proprietorship, cooperatives, partnerships, to corporations. What does the bill mean for you? As a cyberpreneur, you’ll be exempt from paying taxes in your fist two years of business! It covers both national and local taxes. A tax break! How cool is that? You get to keep your earnings and reinvest it to grow your startup. It also gives you time to organize, develop, and learn what works for […]

5 Tips to Effectively Communicate with Clients Online

I’m a Filipino based in Taiwan, while my client is a Ukrainian located in France. We meet for the first time over a video call. I greet her with a “Good afternoon!”, and she thanks me for staying up late to meet with her. In my years of freelancing and working with multinational companies, I’ve dealt with clients in many parts of the world – the United States, China, and the Middle East – strictly online. Technology has eased barriers in communication across cultures. But we’re still fallible to misinterpret, misjudge and mistrust one another. The distance and time zone separation, the complexity of the work involved, and personal preferences make it harder to connect without the face-to-face dimension. So it’s really important to keep communications at a professional level. Try these 5 tips: 1. Have a work plan “What gets measured gets done” – especially if it involves billable hours. Spell out what your expected roles are, as well as your client’s responsibilities. It could be a short agreement or a detailed project plan complete with multiple milestones and deliverables. This sort of work plan protects you from out-of-scope requirements, sudden reshuffling of priorities, and other arbitrary demands. Have this plan signed […]

How to Assess If You Got What It Takes To Be a Cyberpreneur

You may be a programming geek, a tech enthusiast, or a millennial with a dozen social media accounts. Or maybe it’s the other way around. Are you the type who can’t figure out what a hashtag does or how to log in to a secure WiFi network? As underwhelming as this sounds, cyberpreneurship isn’t so much about what you know or what you don’t know. The playing field, rules, protocols, and whatnot may be very different and boundless compared to a brick-and-mortar store, but cyberpreneurship is still anchored onto the basic qualities of being a successful entrepreneur. Let’s start by asking yourself three basic questions: How passionate are you to learn? What are the things you’re willing to risk? Are you committed to conquer challenges ahead? But wait. If you have answered these questions pretty well, don’t jump the gun just yet. Although they’re basic questions, it wasn’t meant to be that simple. Here’s what you need to do next: Dip your fingers in Most successful entrepreneurs didn’t only start young. They started small. Entrepreneurship, like creativity, can be a strand in people’s DNA that are more dominant in some people, surprisingly turning the ordinary into an enterprising opportunity. A case […]

OFWs as Cyberpreneurs: Why It’s a Great Fit

Ask what an OFW wants to get after his or her return. It’s very likely to get these two big answers: their dream house and a big capital for a profitable business venture. For the latter, OFWs can save a big amount of money in a span of 10+ years, and then come back home to start their dream businesses. This is the part of the story where we stop and call it a happily-ever-after. The reality for some OFWs may be this: After investing their life savings on capital-intensive businesses (for example, a restaurant franchise or a fleet of taxis), somewhere along the line, they make a wrong turn. They might have misjudged the market demand or trusted the wrong persons. Everything crumbles and the ex-OFWs go back to the job market for another overseas opportunity. If you’re an OFW really into starting your own business and still see yourself retiring in the Philippines, cyberpreneurship can help you get started. Here are some of its advantages. It teaches you the fundamentals of running a business Why should you wait until your contract expires or that X amount of savings before you find out if running a business is for […]

6 Common Reasons for Not Sharing Knowledge And How to Fix It

Maybe you couldn’t get a straight answer from a client, or a team leader won’t send you a project document as promised. For all the benefits it brings to the company, there are still many people who resist sharing knowledge. At the heart of the resistance is the fear of change: what would happen if I share my knowledge – and more so, if I depend on another person’s knowledge? As Thomas Davenport notes in Ten Principles of Knowledge Management, “Sharing and using knowledge are often unnatural acts.” To make things more complicated, sometimes people won’t even admit or show resistance openly. Not wanting to share knowledge speaks a lot about the interests (sometimes conflicting and competing) of people in your company. Understandably, people have various reasons for resisting knowledge sharing as much as they have different stakes. Here are some common reasons for resisting knowledge sharing and the troubleshooting tips to address them. 1. Insecurity “I don’t want to share what I know because it may reduce my value or jeopardize my job security.” Guarantee that sharing knowledge won’t diminish anyone’s value – on the contrary, it would increase respect and trust. Your company could assign knowledge-sharing objectives to each employee’s […]