Small Business Q&A with Tim Knox

• Is The eBay Fee Increase Actually Good For Business?
  Much of my email from readers this month concerned the recent announcement from eBay that it will increase many seller fees on February 18, 2005. Since many business people use eBay's online store system as their primary ecommerce point of sale, it's no surprise that most of the emails I received were of the angry variety.

• How To Create Your Own Info Product
  One of the best things about information products is that you don't need a product designer or a manufacturing plant to crank out the goods. You also don't have to spend months and months doing product development. If you have a computer and a word processing program you have everything you need to create a best-selling info product in a very short amount of time.

• What's The Best Product To Sell Online?
  I wish I had a dime for every time I've been asked, "Tim, what's the best product to sell online?" I'd have enough money to finance another startup or two. As more and more entrepreneurs move to the Internet seeking their fortunes, "What's the best product to sell online," has become the number one business question of the decade.

• Dropship Your Way To Online Success
  The popularity of eBay has inspired many people to start a business. And for those entrepreneurs who don't want to invest in a ton of inventory but still want to set up shop, dropshipping is a logical solution. Before you get started, consider these seven steps involved in starting a dropship e-business...

• Do You Pay Taxes On eBay Income?
  Last week's column on whether you were required to report income earned from eBay sales to the IRS sparked a number of additional questions and comments from eBay sellers who were hoping that I could somehow validate that their eBay activities were mere hobbies instead of actual businesses and therefore not susceptible to IRS taxation.

• Is Selling On eBay Just A Hobby Or A Real Business?
  To many eBay sellers the thought of running an actual business is about as appealing as getting negative feedback, so they go out of their way to convince themselves that selling on eBay is really "just a hobby" and therefore, should not be susceptible to income tax laws. The IRS just might disagree.

• The Secrets Of Starting A Successful Ebay Business
  For serious entrepreneurs selling on eBay can be a good way to start a new business if you are willing to put in the time and energy required to make the business a success. eBay is also a good option for existing businesses to expand their reach by selling online.

• Beware The Latest Internet Identity Theft Scam
  Be thankful that your paranoia kicked in, Brenda, because you were about to fall victim to the scam of the week, this one aimed at the 35 million merchants and individuals who use Paypal.com as their online payment processor.

• Cut Start-Up Costs By Using a Dropshipper
  You've got enough to worry about when starting an e-business. Get a dropshipper to fulfill your orders for you.

• If You Build It, Will They Come?
  That is a question that has been asked by every business person who has ever launched a website. If I build it, will they come? Of course they will -- if you've built a website that appeals to dead baseball players.

• Does Your Website Induce Seizures?
  In December, 1997, after an episode of Pokemon, the popular Japanese TV cartoon, over 600 children were admitted to hospitals complaining of seizures, blurred vision, headaches, dizziness, and nausea. Any adult who has ever been exposed to Pokemon for more than two seconds can understand the nausea, but the seizures at first baffled doctors. It sounds like your website might be having the same effect on visitors.

• What Does Your Website Say About Your Business?
  Do you really need a website? Congratulations, Robin, you are the one millionth person to ask me that question. Smile for the cameras, brush the streamers and confetti from your hair and listen closely, because I'm about to answer for the millionth time what has become one of the most important and often-asked questions of the digital business age.

• Turnkey Dropship Websites Save You Time, Trouble and Money
  In the good old days of the Internet, i.e. last year :o), it took a considerable amount of effort to launch an ecommerce website, especially one that offered dropship merchandise. Ah, the good old days… Thank God they are gone.

• Navigating the Internet Sales Tax Laws
  Congress has yet to decide on a uniform tax code for the Internet. In the meantime, here's what you need to know.

• The "Other" New Year's Resolution
  In addition to "This year I will lose weight!" and "This year I will stop smoking!" and the ever popular "This year I will stop watching reality TV!" one of the more common resolutions made by many folks this time of year is "This year I will start my own business!"

• The Business Failed, But Did You?
  I hope that I have never given anyone the impression that having your own business is a walk in the park. To the contrary, I'm like the proverbial Chicken Little when it comes to warning readers of the obstacles and pitfalls that await those considering the entrepreneurial plunge.

• The Business Autopsy: A Fact Of Life
  The reason I recommend you do a business autopsy is to uncover the exact reasons why the business died. This is valuable information that can not only heal feelings of personal failure, but also better prepare you for the pitfalls of business should you ever take the plunge again.

• Achievements Outweigh Education and Experience
  It's important to understand that the success of an entrepreneur is not measured by how much education he or she has or how many years of experience are under his or her belt. An entrepreneur's success is measured by achievements, not words on a resume.

• Entrepreneurs Just Get Better With Age
  Milton, congratulations on your pending retirement. I find it admirable that after many years of hard work you are thinking about starting a business. While most men your age would be content to sit on the porch and watch the world go by, you are considering a ride on the entrepreneurial roller coaster. You're certainly tall enough to ride this ride, but are you too old?

• How To Handle Customer Billing Snafus
  I have found that in situations like this it is always best to be proactive and face the problem (or what you perceive as a potential problem) as quickly as possible. This will save you hours of needless worry since most of the time the problem is not as big a deal as you imagined it to be.

• The Thick Line Between Buddy and Boss
  One reason I am so qualified to dispense sage business advice every week, Allen, is that I have made just about every business blunder you can imagine. I am like the Evel Knievel of the small business world, if Evel Knievel wrote a weekly column on motorcycle safety.

• Starting Your Business By The Book
  To begin, here's the best legal advice I can give you as a new business person: find yourself a good lawyer and make him or her your very best friend. Granted, your new best friend will charge you an hourly fee for chatting on the phone or talking business over lunch, but you'll find it to be money well spent. A good attorney can save you far more than the cost of his services. I rarely make any decision that has the potential to impact my business without first consulting my attorney.

• Choosing A Business That's Right For You
  I always compare starting a business to jumping into a pool of freezing water. There are typically two types of entrepreneurs who take the plunge: The Toe Testers and The High Divers. Both types of entrepreneurs may find success, depending on how well equipped they are to handle the water they are diving into.

• What's In A Name? When It Comes To Your Business, Plenty!
  We live in an age when a business called "The Body Shop" might repair wrecked cars or sell skintight jeans to teenagers, so before you send your letterhead to the printer, consider the following points to help you select the business name that's right for you.

• How To Handle The Occassional Oop-See!
  What my daughter had figured out is that it's hard to stay mad at someone who admits a mistake, sincerely apologizes for it, and vows never to let it happen again. Little did I know this was only one of many tactics she would employ over the years in her never-ending quest to wrap her daddy several times around her little finger, but that's a whole different column.

• There Are No Dumb Business Questions, Not!
  There is no such thing as a dumb business question. OK, that's not exactly true. There are dumb business questions and I do get quite a few of them. Not through this column, of course. People intelligent enough to actually use a computer and surf the World Wide Web would never submit dumb questions now, would they...

• Beware Of Spam Withdrawals
  It is no exaggeration to say that I used to receive more than 400 email messages a day. Out of those 400 messages about 10% were from people I knew, 10% were from people I needed to know, and the rest were from people that I would like to track down and field dress with a very dull knife.

• Protect Your Ideas With Copyrights and Patents
  A wise man once said, "The biggest difference between a copyright and a patent is the number of lawyers it takes to do the paperwork." There is a point to be made there, mainly that if this wise man had paid his attorney to copyright that tidbit of wisdom I probably would have had to pay him five bucks to use the quote.

• SWOT Analysis Is No Magic 8 Ball
  SWOT stands for Strengths, Weaknesses, Opportunities, and Threats. A SWOT Analysis is a written exercise that can help you clarify and focus on the specifics that make up the four areas that most affect your business.

• Business Lessons Learned At The Mall
  I recently took my teenage daughter shopping at the mall. The experience raised two questions. (1) What business lessons might be learned from such a foray into teen commerce; and (2) What the heck was I thinking?

• If It Was Easy Everybody Would Do It
  The real question isn't whether or not you have what it takes to run a business. The real question is do you have what it takes to handle the stress of running a business. These are two very different questions and the answers depend totally on you.

• Writing The Book On Great Customer Service
  Anyone on your staff who deals directly with the customers should be well groomed and dressed appropriately for the job. Customers over 25 years old will not get a warm and fuzzy feeling if the guy processing their credit card is wearing an Ozzy Osborne tee-shirt and matching nose ring.

• Investing In Son's Business Could Cause A Real Family Feud
  I have a very simple rule when it comes to loaning money to relatives: NEVER, EVER loan money to anyone you might have to sit next to at Thanksgiving dinner.

• How To Tell If Your Amazing New Product Idea Is Really Worth Gambling On
  Do you have a great idea for an amazing new online product that you think will be the greatest thing since sliced bread? How can you tell if your idea is worth gambling on?

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