Online Business Ideas – The 7 Fundamental Ideas For Online Business

If you spend even a small amount of time surfing the Internet then you are going to find many different online business ideas and before long it can become quite overwhelming. Just like anything new, there is going to be so much information available but the problem is always knowing which information to listen to and which to ignore; this article covers the 7 fundamental online business ideas which you will come across online.The thing to keep in mind is that each of these ideas will manifest itself in many different forms but no matter what type of online business you are looking to set up you will find that it fits into one or more of these online business ideas. They are the fundamental building blocks of any online business and a good understanding of them will give you the start that most people never have.The 7 Fundamental Online Business IdeasEach of the following online business ideas are based around the 7 different ways of actually making money online. Whatever business you decide to start online it will fit into one of more of the following categories:AdvertisingThe first of the online business ideas is advertising and with this idea you will look to setup a website in some kind of niche. You can then put advertisements on this site that are related to the niche content you have based it around. The key to this idea is making sure you get your targeting right otherwise you are simply going to annoy people who come to your site by trying to advertise them something totally unrelated to their needs; this is a fundamental error and something you should be very cautious of before you even start.ServicesWith this idea you will setup a website that offers some kind of service to people who visit. Now this can be varied from an online gambling site that offers the gambling service to people right through to an online presence for your offline business.The main difference with the latter is that you can either simply use it as an online marketing tool for your offline business or you can totally automate it so that you use your offline brand name to create an entirely separate online business.SubscriptionsThis is my favourite of the online business ideas because it is extremely scalable and in essence fairly easy to setup. There are however a few things to consider before starting this type of model. You need to make sure that whatever you are offering a subscription to has very good content otherwise you can get yourself a bad reputation before you’ve even started. Secondly you need to monitor the subscriptions in detail and offer technical support for anyone that may have problems getting access.ProductsThis idea is fairly self explanatory, you setup a website where you sell products online. These products can be your own products or ones you buy in from a supplier, the only real difference will be the margin you make on each one. Also, it will take longer to get traction with your own products whereas others will probably already have brand awareness.CommissionsThe commissions model is similar to the products model but in this case you simply promote other peoples products and direct them to their website. You have your own affiliate code so that when anyone buys their product you get paid a commission. Effectively you are acting in the same way as a normal offline salesman on commission.LicensingOut of all the online business ideas, this one is probably the most confusing and I have certainly seen it explained in a variety of different ways and unfortunately most of them are incorrect. This idea can come in two different forms, you can either be a licensee or a licensor. In the former case you will take someone else’s brand and use it to promote your own products which you will then sell for a premium online. In the latter case you are the one with the brand that other people license off you and you get paid a fee based on this.This is quite an in depth concept and we have really just touched the surface with this article.Being a BankWhen you look at the different online business ideas you will probably struggle to come up with this one. What I mean by being a bank is that you effectively offer people lines of credit through various mediums online. Once again, this idea can be hard to understand at the beginning but becomes clear when you research in depth.You will have most likely seen companies offering checkout facilities online where you can pay for goods and services through some kind of online transaction. When you look into what actually goes on in this process then you will start to see how this model works but essentially you are being paid interest on money you allow people to borrow for varying periods of time.

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New Bankruptcy Law 2005 – Credit Counseling Is Now a Must

A debtor thinking over the possibility of filing for bankruptcy should pay maximum attention to any changes in the bankruptcy law. According to the last important amendment, starting from October 17, 2005, an individual must receive credit counseling from a company approved by the government at least six months before filing for bankruptcy protection.We strongly suggest you consult a credit counseling bankruptcy lawyer since only a professional is able to make you aware of your legal alternatives and rights.Credit counseling organization representatives are able to consult their customers on the following subjects:– Managing Debts– Managing Money– Educational Materials– Developing a Budget– WorkshopsA list of government-approved credit counseling companies, arranged by their location (the state they are working in), is available at the site of the U.S. Trustee Program. This organization operates within the U.S. Department of Justice, which, in its turn, ministers to bankruptcy cases. The U.S. Trustee Program has temporarily forgone the credit counseling requirement for debtors filing for bankruptcy in the Southern District of Mississippi and Louisiana after Hurricane Katrina.Credit counseling requirements. As a rule, the customers are advised on managing debt and money, and on improving their budget. Generally, a good credit counseling company will provide its clients with free educational information and workshops. According to the new bankruptcy law, the credit counseling can be held personally, online, or on the phone as well. The credit counseling session usually lasts for about 90 minutes – and almost always includes the analysis of the consumer’s budget. Fees charged by the credit counseling organizations for their help vary from state to state. They depend on services rendered and the administrative costs of the credit counseling company. In the great majority of cases, the fees for the services of a CCC turn out to be quite reasonable. The amount charged may be up to $50, but can go even higher due to certain peculiarities of the factors stated above. Credit counseling companies named in the U.S. Trustee’s list refrain from charging fees to those who cannot afford to pay because of certain financial hardships. As soon as the counseling session is complete, a consumer must get a document proving the fact that he/she really did receive credit counseling assistance. One should check the U.S. Trustee website to make sure he got the right certificate for the bankruptcy court he’ll be filing for bankruptcy in. It’s also possible that some credit counseling companies will charge additional fees for the certificate given.Credit counseling companies may also suggest a debt management plan (DMP) and discuss it with their customers. According to a DMP, a client transfers a certain sum of money into the credit counseling company’s account monthly. The credit counseling organization, in its turn, uses these deposits to repay the client’s credit card bills, unsecured debts, medical bills, student loans, etc according to the schedule that the organization and the creditors agreed upon. Creditors may also reduce interest rates and lower some fees in case the client pays off his/her debts with the help of a DMP. A DMP is not necessary for those debtors who file for bankruptcy. However if they still decide to use a DMP, they will have to provide a copy of it in the bankruptcy court for the judge to use it during the hearing.