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Week in Review (October 15)

By: Joshua Unseth-- 2010-10-15 5:00 am --

5 Common Start-Up Mistakes and How to Avoid Them - October 11, 2010

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WholesaleMatch provides new business owners five of the most common errors when starting an online business and offers solutions to ensure these errors do not occur. New owners should have a blueprint of the big picture and focus of the business and not become bogged down by the smaller, daily operating tasks. A reasonable budget must be set as most new owners tend to underestimate the start-up costs of an online business. Systems should be set into place on how to deal with orders, inquiries, and inventory to streamline the business and assist with the training of possible future employees. A rewards system should be set into place so that the new business owner is able to meet and celebrate realistic goals. And it is important to not become so focused on work that family and friends become secondary to the job as they should, in fact, be a support to the business owner.

Consumer Situation Shows Some Improvement - Update - October 12, 2010

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The October 2010 Consumer Reports Index has found that the only retail categories to see even a small percentage of growth over the past month were personal electronics and small appliances. However, holiday sales are expected to increase 2.3%, which is a marked improvement from the past two years. The most optimistic consumers are those in the 18-34 year old age bracket while the most pessimistic consumers are those in the 35-64 and 65+ age brackets.

Get Your Dropship Business Ready for the Ho-Ho-Holidays - October 12, 2010

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To take advantage of the holiday increase in consumer activity, small online retailers may want to heed the following suggestions. Offer one great deal that customers cannot resist for Black Friday/Cyber Monday. Designate a loss leader in order to entice buyers to the site and hopefully create more sales. Begin advertising with coupons, promotions, newsletters and the like. Be sure the website is easy to maneuver and running smoothly in anticipation of increased traffic. And begin to establish a holiday theme for the website, marketing platform and item descriptions appropriate to the holidays.

How To One Up Your Online Business Competition - October 13, 2010

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WholesaleMatch offers four traits to give a small online business owner an edge over the competition. Using social networks like Twitter and Facebook to advertise and boost customer service is key, especially as consumers of all demographics are now engaged in social networking. Being properly indexed by search engines such as Google can help to be sure a business is listed in the top ten when consumers are searching appropriate keywords. Offering unbiased advice and tutorial videos on the website offers customers confidence in the product and the seller. Creating a strong online presence is imperative with an increase in small businesses expanding to offer online products and services.