Hello everyone!
After working part-time as a freelancer for a long time, completing other people's projects, I have become tired of it and decided to create my own product that I can sell.
(https://www.gridlaw.com/wp-content/uploads/2015/11/business_start_up_Fotolia_91464597_S.jpg)
I have already decided on the product itself, the market for sales, and the concept of how the product should function. However, I am more concerned about how to sell the product online. Merely buying a domain and placing a "buy" button would not be sufficient. Should I create an IP/LLC for sale and pay taxes?
For your reference, this product is B2B, and upon payment, the client will receive the program. If you have any literature recommendations related to this topic, I would be extremely grateful.
The hypothesis that there is a demand for the IT product has not been substantiated, as mentioned earlier. Even if it is substantiated, generating a customer base remains an obstacle to overcome.
It is also essential to note that the product itself may not exist in its entirety yet. Misjudging the costs associated with implementing the product is a real possibility. Freelancers are typically tasked with specific duties and may not be familiar with the broader scope of work, including creation, maintenance, and updates. As such, completed tasks may be only part of the overall effort.
Have you ever considered that many programs are provided for free, yet their developers need to make a living somehow?
One solution is to offer a basic version of your software for free. As demand grows, users may appreciate and pay for more sophisticated features. Alternatively, companies may be interested in advertising through your software or hiring you as a developer. This is the case for Linus Torvalds who works for Transmeta and focuses solely on developing the Linux kernel while being paid a salary.
Ultimately, finding creative ways to generate revenue while keeping your software accessible to users is key for any developer. In the end, it is up to each individual developer to decide which option suits them best.
Everyone here is invested in making sure things work out for you.
For a sole proprietor, having advertising, a website with a buy button, and the necessary minimum is crucial. However, this all hinges on whether your product is something that's in demand.
Imagine yourself as a business owner. Your main concern would be how much profit you can make and how quickly it can be achieved. If there are no clear answers to these questions, then the investment may not be worth your time. If you offer a valuable utility that saves time for managers, accountants, and other employees, then the result should be reflected in savings. These savings should outweigh the costs of implementation, productivity drops during employee training, and other factors.
We once invented a technical device that was meant to reduce electricity consumption. However, after speaking with the office director, it became apparent that the savings were negligible and not worth pursuing. Nonetheless, there were other tasks that we could focus on that we hadn't considered before. This may mean returning to freelancing, but as long as the pay is good, it's worth considering.
In short, it's important to consider all elements before investing in a product or service. This includes evaluating potential savings, implementation costs, and overall profitability.
Tips on Improving Sales Efficiency:
- Instead of pressuring the customer, discuss their needs and weaknesses with them to find the best solution together.
- Don't try to sell at any cost. Be honest about any risks or concerns with the product to gain the customer's trust.
- It's okay to refuse a customer if there are doubts or a lack of mutual understanding about the product.
- Prepare by researching the company and its values to better understand their context and offer tailored solutions.
- Understand the work of different teams and how they relate to sales to communicate more effectively in the team.
- Test new channels and hypotheses to show initiative and add value to the company.
- Learn from common mistakes like accepting refusals as an opportunity to learn and avoiding embellishing information to prevent damaging relationships and reputation.
Sales success depends on building trust, understanding customer needs, and delivering on promises. By following these tips, sales professionals can improve efficiency and bring more value to their companies.
Congratulations on taking the step to create your own product! It's an exciting venture. When it comes to selling your product online, there are a few things you may want to consider.
Firstly, creating an IP/LLC for sale and paying taxes can provide legal protection and legitimacy to your business. It's always a good idea to consult with a lawyer or an accountant to understand the specific requirements and benefits based on your location and circumstances.
To sell your product effectively online, you'll need more than just a domain and a "buy" button. Here are a few steps you can take:
1. Build an E-commerce Website: Invest in building a professional-looking website that showcases your product, its features, benefits, and pricing. Make sure the website is user-friendly and optimized for conversions.
2. Create Compelling Sales Copy: Craft persuasive sales copy that communicates the value your product offers to potential customers. Clearly explain how it solves their problems and why they should choose your product over competitors.
3. Implement a Secure Payment Gateway: Set up a reliable and secure payment gateway that enables customers to make purchases seamlessly. Consider using popular options like PayPal, Stripe, or other trusted platforms.
4. Provide Customer Support: Plan for customer support to address inquiries, provide assistance, and handle any issues that arise. This will help build trust and enhance customer satisfaction.
5. Marketing and Promotion: Develop a marketing strategy to reach your target audience. Utilize social media, content marketing, email marketing, search engine optimization, and paid advertising to drive traffic to your website.
As for literature recommendations, some popular books on online marketing and entrepreneurship include "The Lean Startup" by Eric Ries, "Influence: The Psychology of Persuasion" by Robert Cialdini, and "DotCom Secrets" by Russell Brunson.
Here are a few more recommendations to help you navigate the process of selling your product online:
1. Conversion Optimization: "Don't Make Me Think" by Steve Krug is a great book that offers insights on creating a user-friendly website that encourages visitors to take action, such as making a purchase.
2. Copywriting: "The Ultimate Sales Letter" by Dan Kennedy is a classic guide that provides tips and strategies for writing persuasive sales copy that grabs attention and drives conversions.
3. Online Marketing: "Digital Marketing for Dummies" by Ryan Deiss and Russ Henneberry offers an overview of various digital marketing channels and techniques, providing practical advice for promoting and selling products online.
4. Customer Experience: "The Customer Success Economy" by Nick Mehta, Dan Steinman, and Lincoln Murphy explores how to build and maintain strong relationships with customers, ensuring their success and loyalty.
5. Entrepreneurship: "The E-Myth Revisited" by Michael E. Gerber highlights common pitfalls that entrepreneurs face and provides guidance on building systems and processes to scale a business effectively.
Quote from: ichnolite on Mar 07, 2023, 07:29 AMHello everyone!
After working part-time as a freelancer for a long time, completing other people's projects, I have become tired of it and decided to create my own product that I can sell.
(https://www.gridlaw.com/wp-content/uploads/2015/11/business_start_up_Fotolia_91464597_S.jpg)
I have already decided on the product itself, the market for sales, and the concept of how the product should function. However, I am more concerned about how to sell the product online. Merely buying a domain and placing a "buy" button would not be sufficient. Should I create an IP/LLC for sale and pay taxes?
For your reference, this product is B2B, and upon payment, the client will receive the program. If you have any literature recommendations related to this topic, I would be extremely grateful.
This includes all of the laws that govern how to start, buy, manage and close or sell any type of business. Business laws establish the rules that all businesses should follow.
Quote from: ichnolite on Mar 07, 2023, 07:29 AMHello everyone!
After working part-time as a freelancer for a long time, completing other people's projects, I have become tired of it and decided to create my own product that I can sell.
(https://www.gridlaw.com/wp-content/uploads/2015/11/business_start_up_Fotolia_91464597_S.jpg)
I have already decided on the product itself, the market for sales, and the concept of how the product should function. However, I am more concerned about how to sell the product online. Merely buying a domain and placing a "buy" button would not be sufficient. Should I create an IP/LLC for sale and pay taxes?
For your reference, this product is B2B, and upon payment, the client will receive the program. If you have any literature recommendations related to this topic, I would be extremely grateful.
Understanding legal requirements for online businesses ensures compliance with privacy laws, contracts, and consumer protection regulations. Key areas include business registration, data protection (GDPR, CCPA), tax obligations, and intellectual property rights to avoid legal risks.
Quote from: Jerry on Mar 07, 2023, 09:10 AMThe hypothesis that there is a demand for the IT product has not been substantiated, as mentioned earlier. Even if it is substantiated, generating a customer base remains an obstacle to overcome.
It is also essential to note that the product itself may not exist in its entirety yet. Misjudging the costs associated with implementing the product is a real possibility. Freelancers are typically tasked with specific duties and may not be familiar with the broader scope of work, including creation, maintenance, and updates. As such, completed tasks may be only part of the overall effort.
Demand for the IT product has yet to be proven, and building a customer base remains a challenge. Additionally, the product might not be fully developed, and implementation costs could be miscalculated. Freelancers, often focused on specific tasks, may not understand ongoing creation, maintenance, and updates. This could lead to incomplete efforts.
To operate an online business legally, make sure you register your company, acquire the required licenses, and abide by data protection regulations such as the CCPA or GDPR. Your website should have explicit terms and privacy policies. Additionally, be aware of your tax responsibilities when selling online, particularly if you are selling abroad. A legal expert should be consulted.
Clearly defining your target market and product value is essential to organizing the sale of an IT product. Establish a well-organized sales process that includes phases such as proposal, closing, and demo. Make use of resources such as CRM, contract templates, and safe payment options. Customer service, follow-ups, and clear communication are essential for a successful transaction.
Understanding legal requirements for online businesses means knowing and following laws on licensing, taxes, privacy, and consumer protection.
Running an online business means more than just selling products—it requires understanding legal requirements. Ensure your business complies with taxes, licenses, data protection, and consumer rights laws. Draft clear terms and privacy policies, and follow e-commerce regulations. Staying legally informed not only protects your business from penalties but also builds trust with customers, ensuring long-term success online.