Approach setting up your business on the Internet strategically. Identify the potential benefits for yourself and your customers. Then determine a revenue model for your business on the web. Consider your goals and objectives for your e-business. Then research best practices sites and competitors' sites as you decide how you will leverage the power of the Internet for your business. When you've completed these preliminary steps, you're ready to make a plan for how you'll strategically implement your e-business activities over time.

Benefit for Your Customers

Nordic Technologies can help you identify how your website will add benefit to your product or service. The Internet can create benefit in two ways:

1. Web features become part of your product or service. Example: eLibrary.com created a reference information service using the Web's ability to create access to numerous resources across the Internet.
2. The Web enhances existing benefits of your product or service. Example: Amazon.com started as a bookseller. Today, they enhance the services of a traditional bookstore by adding the benefits of "always open for business,” online reviews, a searchable inventory, recommendations for similar books, and delivery to your door. Millions prefer visiting Amazon.com to a trip to a storefront bookstore.

Consider these questions to evaluate your potential Internet benefit for your customers:

• What features of the Internet could add value to my product or service?
• If people can acquire my product or service without the Internet, how does the Internet provide my customers with enhanced (more convenient, faster, easier) ways to shop and buy?

Benefit for Your Business

Identify how developing a website will benefit your business. The Internet can help you generate new sales leads and increase revenue from existing customers. A website can even become a moneymaking asset in its own right, through affiliate programs that earn referral fees or commissions. Here are three ways a website can make you money:

1. Generate new sales leads. Example: Use an Internet promotional offer to attract potential new customers to your site. When they enter their name, email, and phone number at your website, you can contact them directly to follow up on their interest.
2. Increase revenue from existing customers. Example: Post coupons and specials on your website. Existing customers may visit your store more often, generating increased revenue.
3. Make money through affiliations with other websites. Example: Your business, a computer consulting firm, frequently recommends purchasing a software package from another firm. When you set up an affiliation with that firm, you can earn a commission when your customers purchase the software by clicking a link from your website to theirs.

To help you evaluate the potential Internet benefit for your business, ask yourself:

• What are the next steps I want to take to develop my business right now?
• How can I utilize Internet technologies in these next steps?

If you find that you are unsure how to proceed, Nordic Technologies management consultants can help you leverage the power of the Internet to the fullest extent for your business. Call 866-799-0220 or email info@nordictechnologies.com and ask to schedule a free consultation.