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Wednesday, 07 January 2009 20:50 |
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Hey everybody, Happy Late New Year. Mine was not too great but that's a story for another day. I thought i'd give an update on where my stock (ASX Ticker: BHP) is now. Well it's gone pretty well over the last two months. I've earned so far a (at close of 7th Jan): 22.51% Gain The equivalent to a: $113.81 Profit with the Current Market Value at $619.40 Over $100 for doing virtually nothing then checking the price every couple of days, is not too bad for a teen. If I only I had more to begin with! Of Course, I bought these shares with the intention that i'd keep them for the long term and i'm expecting them to rally over the $40 mark this year anyway. Have to go now (pointless homework is waiting for me...) Nick. |
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Sunday, 21 December 2008 03:02 |
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Consumers are being careful with their money due to the recession and are looking for great deals. The online market is growing as a result. People don’t like to go to retailers and feel the flurry of pressure to buy and use their precious cash. Instead in the comfort of their own home, they go online and buy from the comfort of their own home.
It suggests why it is so very important to ship to other countries other than yours, where the exchange rate may be at a slump for buying but very attractive for buying. The Aussie dollar which was flying high at 96:100 (US Dollar) five months ago, fell to a whopping 58 cents a month or two ago and is now tumbling at around the 69 cent mark.
Now at first, this downtrend seemed like the worst thing in the world that could happen to my business. It was only recently until I began receiving more volume of payments from other currencies which dramatically increased profits. All because I ship worldwide to foreign countries
It's a win-win situation with the seller and the foreign buyer. The buyer get's a bargain. The seller receives a sale.
So What Can You Do?
1. Accept Other Currencies: If your profits are failing because of the recession then don’t worry. Begin to accept as many other currencies you can. If your payment provider doesn't allow this, then change it to one that does such as MoneyBookers or Paymate.
2. Ship to other countries: Make sure you provide priority and express shipping to your buyers and set up an agreement with your shipper if possible.
3. Short-Term Localised or Globalised Marketing Campaign: Market your products to countries that are strong to your currency. Tip: Strive for short-term campaigns, as the currency may uptrend again and diminish your campaign.
4. FrontPage Badge: Place a big (colourful) badge, animation, header, link etc on your home page. One that says "We ship worldwide” or something similar to let your buyer’s know. With a badge the potential buyer from wherever land will immediately recognise that you do ship to Angola. As buyers can’t be bothered to check out each site they found on Google, finding the "shipping" link and trying to find if you ship to their country or not which is a scenario that happens way too often even with the most successful internet business.
5. Online Tracking: If you sell expensive (over $500 US) or fragile items, make sure that you provide Online Tracking to your buyer. It will give the buyer confidence to purchase and peace of mind during shipping to know where the package has been, where it is now and when it will arrive.
6. Customs! Watch out for customs! International customs can delay packages for at least a week, even six weeks! Equally important, the buyer may be charged money as a result! Put a message in your disclaimer or on your shipping page and let them know that they are fully responsible and liable for costs arising from customs.
7. Insurance: 99.5% of packages arrive to the buyer safely. It's that .5% is floating somewhere in space and the buyer never receives. Yes it's an expense to your business, but it's better than telling the buyer "Uhh Hi this is Mark from ABC company, yeah we kinda.. lost your $400 package and we dunno where it is and yeah.. you won't get a refund because it was un-insured". The angry customer will most likely never shop from you again and tell their friends not to buy from you |
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Saturday, 20 December 2008 03:30 |
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Hello everyone. Sorry that I haven't posted lately. I've had stupid exams of late and been away in england for the last week. I have two weeks of holidays now and I look forward to getting a couple of posts... which include my thoughts and stuff............................. Anyway i'll keep everyone updated. Stay tuned |
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