Reflection: Legal Structure

It was important to learn this week the legal structure to revolve the business around. If the business is not registered to be a business legally, then the government can possibly shut the business down until the proper paper work is filled out. I wanted to make sure that my business was either a sole proprietorship  or a Limited Liability Company. The reasons would be because the sole proprietorship was the easiest to create and one of the most common legal structures. The Limited Liability Company would make it so that if your business made a really big mistake and had to pay a substantial amount of money to someone, the money could only be taken out of the business and not from your own personal funds. I would want that kind of security for my business just incase I got sued for anything.

Reflection: Site Design

This week had to think about some useful items to have on a webpage. The main one was a way to use payment. We had think of way that the payment might be important and how it would have to function o the website. We talked about how that there ha to be an option to do refunds. That the information has to be safe and secure for people to put in their information. The button to do payments has to be easy to see. It has to look official. I thought that having to sign a terms and condition for the payment would make people feel safer when they submit the payment. Other characteristics was to make sure that there are home buttons and that the navigation of the website is Smoot and that there is enough info for the customer to see. There should be a contact page, and about page, and any other pages that seem to be needed on the website.

Site Building and Hosting

It was neat to learn more about hosting and site building. I was able to learn about the difference of them. I wanted a site that would host and be able to build a website for me. That is why I chose Wix. I feel like Wix is a really popular platform and easy to use. I just created a website a couple of days ago using it and it worked out very well! The website plan per month was about $20. The woman name was about $22 for the year. I think it was a pretty good deal for that. I'm really glad that I heard about the possible vouchers for credits towards advertisements. I possibly would have never seen that I could get a voucher for a couple $100 towards google ad words.

Reflection 2: Sourcing the Product

This week I learned about sourcing the product. Drop-shipping and using an affiliate were both terms that I had never heard of in my life in regards to business. It was neat to know the different kinds of sourcing that large companies use. for example, Amazon uses an affiliate model. I personally would like to use the drop shipping model if I were to have a business. I feel like it would feel like that I am in more control in the products and the prices. Instead of the affiliate approach where a link just takes them to another business's product and they purchase the product from them and I get a small percentage of that product. I think that using the dropship method would also be much easier to handle returns. Because the sale came from you and all you pretty much did was send an email to someone to sell and ship the product to that person who ordered it.

Reflection: Choosing a Business

I really enjoyed learning about the keywords and their importance in trying to find a word that works better than others. It was interesting to see the competition and the monthly searches for each key word. It makes me think more about the topic and the words that I should use for my own online business. I was thinking of doing a business that is a service related to mental health. It would be a simple subscription business where someone would pay $30 a month to help keep them accountable to their goals. These goals could be to send a constant reminder through text to help them stop the craving of wanting to smoke, wanting to eat sugar, wanting to drink, looking at inappropriate content on the internet, or to help them to work out, etc. I would like to have keywords that relate to those subjects. I would probably also want keywords that relate to religion. Many people with religion have a drive to want to progress in life. It could be to read the scriptures daily, or to have a reminder to do something serviceable for others.