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Week in Review (November 12)

By: Joshua Unseth-- 2010-11-12 4:00 am --

Etsy: An Online Business Alternative - November 8, 2010
Etsy.com is an alternative to eBay and other auction sites for those who wish to start an online business. Etsy is specifically for those with handmade or unique products. Etsy collects a fee for each listing and receives a percentage of the final selling price of each item. Like other online retail sites, Etsy offers multiple product search options so that customers can locate items. For those new to online retail and trying to sell unique merchandise, Etsy can be an easy way to begin a business and promote a product.

Social Media Marketing: Get AddThis FREE for Your Dropship Business! - November 10, 2010
AddThis is a tool available that can allow online retailers to know which social sites customers are using to share the retailer's content. This then assists retailers in knowing which social media share buttons to incorporate on the site, keeping the site purposeful and less cluttered. AddThis is easy to install and is available free of charge.

E-commerce Emerges from the Recession with a Larger Share of Consumers’ Wallets - November 11, 2010
E-commerce sales are continuing to increase and now make up nearly 10% of all consumer spending, with the top 25 e-retailers claiming almost 70% of all online sales in the 3rd quarter of 2010. The largest increase in online spending was from middle income households, those making between $50,000 and $100,000. And the products that saw the most growth in sales were books and magazines, computers and personal electronics.

What Makes So Many Startups Fail - November 11, 2010
Only 30% of all new businesses see a ten-year anniversary. In order to ensure that a business is successful and can stand the test of time, it is essential to have a fully-developed business model that is able to be modified depending upon the needs of the business. In addition, it is critical to pay close attention to all expenditures as well as income. Finally, it is recommended to be constantly seeking outside advice and perhaps even instituting a board of directors for the business.

When Disaster Strikes, Customer Relationships Can Be Critical - November 11, 2010
Recently, Hannats, a British business, was susceptible to fraud as its credit card company's security was breached. Hannats handled the incident very well and gained respect from its customers because of their appropriate response to the breach. All companies should keep the following in mind in the event of such a crisis: do not be deceptive, contact all customers and continue to update them until the situation is resolved, avoid placing blame, thank others for their patience as the matter is being handled, try to implement partial solutions until the full matter is resolved, and work to create relationships with customers prior to such an event so that they know to trust your word and your business.