Online Business 101

Karma Knot’s goal is to make advanced online business strategies easy for you to understand and implement.  I’m going to help you get the online business basics down and cover a glossary of the commonly used terms to make this the most comprehensive resource possible.  All of these terms describe concepts used in the systems and strategies that I show you throughout Karma Knot.

Online Business 101 should take you from zero to having the internet business basics in place.  Those include, an online presence, an online point of sale, a product for sale, some interested buyers, and an email list manager.  If you don’t have these things set up yet then you are in the right place!

 

Online Business Basics

To move beyond the basics your business should have the following:

Online Presence

Online Point of Sale

Product for Sale

Email List

Interested Buyers

Permission Based Marketing

Permission-based marketing is what I focus on the most in these lessons.  It means separating your ideal customers from non-buyers by focusing on common interests or niche appeal and then requesting their permission to market to them, through an opt-in. Today, the...

Customer Relationship Management

Customer relationship management (CRM) is a strategic approach to managing a company's interaction with current and potential customers. It uses data analysis about customers' history with a company to improve business relationships with customers, specifically...

CopyCats

People naturally observe everything around them and draw inspiration from it.  It doesn't mean anyone is copying you, or that you are copying other people.  Everyone is inspired by the work of others. People tend to be worried about two things when it...

Elevator Pitch

Your elevator pitch is how you describe your business or ask for sale, in one or two sentences.  Online business owners tend to spend way too much time on this.  Unless you are making sales in person or to strangers, your elevator pitch will mainly be used when you...

Competition

Believe it or not, a saturated market can be a good thing.  It means there already is a high demand for what you offer.  The key to overcoming a crowded market is learning how to market outside of it. Instead of thinking of yourself as one in a million, think about...

Human Intertia

Human Inertia is the tendency to do nothing or remain unchanged.  This means your customer has a tendency to resist doing things...like buying your product. This is where you should be focusing your attention, instead of on the competition or copycats.  Instead of...

Glossary of Online Business Terms

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