TYPES OF BUSINESS

Money is an important factor that can determine the type of business you can engage yourself. Money, funds or capital is used for acquiring assets, expanding existing business, setting up a new business and for daily operation of the business. Money is necessary for acquiring the required manpower skill, and paying staff motivating salaries and wages. Money is indispensable for marketing- promotion and advertisement. You need to know how to raise money for your business to succeed. Most business fails due to lack of good strategies to raise money to continue to finance such business. To raise capital for your own business, you must determine the type of business you want. The type of business you want will now determine whether you need to raise one hundred thousand dollar or five million dollar or more.

You can carry out your business as an individual that engages in one-man business or you can render professional services. You can decide that instead of being the sole owner, you want to be in partnership with other people because of many reasons

You can therefore decide to go into a self-reliant business as:

• A professional in your chosen field or a one man internet business man
• A producer or manufacturer
• A marketer, promoter and advertiser

As a marketer, you can start as a retailer, an affiliate of established business on Internet e.g. SFI Affiliate Program  and graduate into a wholesaler and eventually into a manufacturer or a full time Internet marketer.

It is always a good advice to get your domain name register on time. Also register as a sole trader, partnership or a limited liability.

TYPES OF BUSINESS:

* One-man business as in Internet marketing

* Partnership business as in software and hard ware manufacturing

*Group business as in domain name registration and web hosting.

Group Business can either be a private limited company or a public limited company.

GROUP BUSINESS

* Private limited company

*Public limited company

One important fact in business is law. Either the business is being carried out by individual or by group, either online or offline, rules and regulations must be complied with. You can therefore be rich in business without being dishonest, fraudulent and without being a pagan.

  

ONE MAN BUSINESS

Individual mostly owns one-man business. This does not mean that one person must carry out the business activities. The owner can employ workers to work for him but the profits and losses belong to the owner alone. There is hardly any difference between the assets of the owner and the assets of the business. He can use his personal car for the running of the business. He can operate from his house. The owner makes the decision alone.

Any business can be carried out as a one-man business, both online business and offline business. Therefore one-man business can be in form of marketing products or services, production and manufacturing.

In the past this type of business is common the professionals, but these day with the help of Internet any business can be done as one-man business. It can be as an affiliate, as a web designer, as a soft ware developer, as n Internet marketer, as a owner of a cyber store etc.