Start & Run an Internet Research Business

by Gerhard W. Kautz

Overview

Information research has shifted from something people did in libraries to something people do mostly on the Internet. But companies often don’t have the time or internal resources available to sift through the sheer volume of information on the Internet. Now, you can seek out information on behalf of clients, who will pay you for your research! Help large and small companies alike answer questions about industry trends, market conditions, mergers, competition, and other developments. There is very little money required to begin this type of business, as all you need to get started is a computer and Internet access! The best part is that you can work for yourself, on a full-time or part-time basis, out of your own home. Start&Run an Internet Research Business will show you how.

Product Details

ISBN-13:	9781770407367
Publisher:	Self-Counsel Press, Inc.
Publication date:	02/24/2012
Series:	Start & Run Business Series
Sold by:	Barnes & Noble
Format:	eBook
Pages:	200
File size:	2 MB

About the Author

Gerhard Kautz has over 18 years' experience in international marketing. Since 1998, he has been a consultant to various companies in over 40 countries, providing them with information research services. He is the author of Exporting to Canada and Exporting from Canada, also published by Self-Counsel Press.

Table of Contents

Introduction xi 1 The Internet Research Business and You 1 1. The Internet Research Business 1 2. How Companies Find Essential Information 2 2.1 Manufacturing industry information research needs 3 2.2 Service industry information research needs 3 2.2a Investment firms 4 2.2b Information technology companies 4 2.2c Lawyers 4 2.2d Engineering and architecture firms 4 2.2e Business and trade organizations 4 2.2f Individuals needing information 4 2.3 Government information research needs 4 3. Your Internet Research Business 5 2 Choosing Your Specialization 7 1. Why You Have to Specialize 7 2. Assess Your Skill Set 8 2.1 Computer skill 8 2.2 Communication skills 8 2.3 Investigative skills 8 2.4 Personal skill assessment 8 3. Assess Your Experience 9 3.1 Work Experience 9 3.2 Hobby and sports experience 10 CONTENTS iv Start&run an internet research business 3.3 Educational experience 11 4. Overall Personal Assessment 11 5. Select Your Specialization 11 6. Changing Your Specialization 13 3 Your Business Model 15 1. What Is a Business Model? 15 2. The Business Opportunity 16 3. What Is Your Market? 16 4. Your Marketing Procedure 17 5. Your Sales Procedure 18 6. Your Project Work Procedure 18 7. Your Delivered Products 18 4 Your Company Structure 21 1. Why You Need a Company 21 2. Incorporated Company 22 3. Partnership 23 4. Limited Liability Corporation (LLC) 24 5. Sole Proprietorship 24 6. Recommended Company Structure 25 5 Pricing 27 1. Price Quotations 27 2. Overhead Cost Factors 28 3. Salary Expectations 30 4. Billable Time, Company Time, and Personal Time 30 5. Markup Factors 31 5.1 Specialization 31 5.2 Competition 32 5.3 Client understanding of personnel costs 32 5.4 Profit 32 6. Overall Pricing Approach 32 6 Marketing 35 1. Why You Must Market 35 2. Define Potential Clients 35 Contents v 3. Identify and Select Potential Clients 36 4. Assess Marketing Methods 37 4.1 Slogan 37 4.2 Business cards 37 4.3 Word of mouth 37 4.4 Networking 37 4.5 Business organizations 37 4.6 Website 37 4.7 Trade show participation 38 4.8 Trade show milking 38 4.9 Media advertising 38 4.10 Telephone soliciting 38 4.11 Direct-postal-mail advertising 38 4.12 Direct-email advertising 38 5. Marketing Time Line 39 6. The Marketing Plan 40 7 Marketing Material 41 1. Why You Need Marketing Material 41 2. Business Cards 41 3. Business Stationery 42 4. Website 43 4.1 Domain name 43 4.2 Web host 43 4.3 Website design 44 4.4 Content 45 4.5 Keywords 45 4.6 Search engine listing 45 5. Brochures 45 6. Marketing Letters 46 6.1 Brochure introductory letters 46 6.2 All-inclusive marketing letters 47 7. Client Response Form 48 8. Unsolicited Email 48 vi Start&run an internet research business 8 Getting the Contract 55 1. Types of Contracts 55 1.1 Contract for a specific project 55 1.2 General service contract 56 1.3 Retainer contract 56 2. Contents of Contracts 56 3. Contract Agreements 57 3.1 Verbal tasking 57 3.2 Letter contract 57 3.3 Purchase order 57 3.4 Detailed contract 58 4. Help the Client Close the Deal 58 4.1 Send the client the letter contract 58 4.2 Help the client draft the purchase order 58 4.3 Help the client draft a detailed contract 58 5. Written Proposal 58 6. Interfacing with Clients 59 9 Project Estimating 63 1. Work Breakdown Structure 63 2. Time Estimating 65 3. Labor Costs 67 4. Additional Costs 67 5. Contingency Allowance 67 6. Buy-in Considerations 68 7. Price and Delivery Quotes 68 10 Time Management 71 1. Why You Must Manage Your Time 71 2. Establish Your Work Area and Work Routine 72 3. Project Management 74 4. Gathering and Storing Information 75 5. Multitasking 75 6. Recording Websites 76 Contents vii 11 Doing the Work 77 1. Verify the Client’s Needs 77 2. Beginning the Information Search 78 3. Internet Search Engines 79 4. Free Internet Information Sites 80 5. Charging Internet Information Sites 80 6. Misinformation, Disinformation, and Half-Truths 81 7. Other Information Sources 82 8. Drafting the Report 83 12 The Business Plan 85 1. Why You Need a Business Plan 85 2. Business Opportunity 86 3. Deliverables 87 4. Company Structure 88 5. Potential Clients 88 6. Competition 89 7. Market Share of Clients 90 8. Marketing Procedure 91 9. Sales Procedure 91 10. Project Work Procedure 91 11. Working Team 92 12. Projected Revenue 92 13. Projected Expenses 93 13.1 Personnel 93 13.2 Website 93 13.3 Marketing and sales costs 93 13.4 Delivery cost 93 13.5 Office overhead costs 94 14. Profit/loss analysis 94 15. Financing 95 16. Future Expansion 95 17. Action Time Line 96 viii Start&run an internet research business 13 Administration 97 1. The Need for Administration 97 2. Keeping Time Records 98 3. Billing the Clients 99 4. Collecting Payments 101 5. File System 103 6. Keeping Cost Records 105 7. Business Accounting 105 8. Tax 106 8.1 Income Tax 106 8.2 Other taxes 106 14 Expanding Your Company 109 1. Why You Should Expand 109 2. Problems Associated with Expansion 109 3. Phases of Expansion 110 4. Subcontract Employees 111 5. Office Facilities 112 6. Hired Employees 113 7. Company Organization 114 8. Exiting the Company 115 Appendixes A Business Plan for Military Budget Opportunity Service 117 B Letter Contract 125 C General Service Contract 127 D Proposal 129 E Website Request for Proposal 131 F Special Task Contract 133 G Retainer Contract 135 H Sample Contract 137 I Subcontractor Letter Contract 139