Online writing is a web-based creation of articles intended for viewing on a computer, smartphone or other digital devices. It is different from the traditional writing method in the sense that the final consumer encounters no paper when consuming your product. Online writing shop is a company that specializes in internet articles and production of online contents.
When selecting online writing as the business venture you wish to invest in, several internal and external factors come into play. The internal factors are the strengths and weaknesses exhibited by the business. Internal factors are vital to the success of any business and are largely under the control of the business. Internal factors that one has to factor in when going in online writing are organizational and operational capabilities, strategic risks, innovation, financial resources, and human resources. Before going into internet-based writing, one needs an honest and realistic SWOT analysis. This will identify the business's strengths and the weaknesses that will give the competitors an edge over your business.
External factors are outside-of -business influences that can affect the business's ability to achieve its objectives. External factors that can affect internet-based writing include the competition, economic and political environment, social changes, legal hurdles, and technological advances. External factors are largely out of the business's control and are therefore the biggest risks to the survival of a business.
A financing plan consists of projected revenue, an expenses budget, cash flow statement, profit and loss statement, balance sheet, and lastly a breakeven analysis. The projected revenue spreadsheet is extended over three years. The expenses budget is there to help the business owner identify how much it is going to cost him to achieve the predicted revenues. Cash flow statement is there to show how funds will be moving in out of business. It is based on projected revenue, the expenses account, and the balance sheet. A profit and loss statement is there to help the business owner forecasts the performance of the business. A balance sheet helps to identify the assets of the businesses and its liabilities. It reveals assets and liabilities that cannot be reflected in profits and loss statement, for example, capital and starting assets. The breakeven analysis is used to show whether the businesses expenses are less than the revenue generated. If the expenses are more, the venture is not viable.
Creating this financing plan will help one to determine whether internet-based writing is viable. It is also important because it shows a person the potential of the business and helps them understand it. This helps to manage better, anticipate monetary needs, and understand monetary flow in the business.
Web-based writing is primary virtual. This means that the company can be located anywhere provided there is enough power and internet connection. The companies do not require large office floors to host its equipment and employees. The headquarters could be in one location and the employees scattered across the globe. This helps the business save on operational costs such as rent, internet bills, and water and electricity. The virtual presence of a web-based writing shop means that the employees can access it at any time of the year regardless of weather elements or artificial hindrances like transporters strikes. The same cannot be said of businesses in a brick and mortar location.
The hiring of writers for online writing shop will be demand based. The demand for writers is dependent on the supply of writing jobs. The writers have to be experts in at least one field and fluent in English. Personal attributes include desire, ability to self-motivate oneself, be available at any time of the day.
Hired writers will undergo training on internet navigation and research skills. This will enable them to produce high-quality products that the consumers will love. Additional training on formatting and packaging of their product so that it is appealing to the target market will be provided. Highly trained writers will be vital in beating the competition and maintaining healthy profit margins.
In order to increase company output and revenue, the writers will be paid according to the feedback from the clients. The company will establish a style of rating that customer will rate their satisfaction with the work done. Writers who consistently score high rates will be paid more than those with poor rate scores will. This incentive will keep the writers motivated to produce to the best of their abilities all the time.
The target market will be internet users and school students. An internet user is a general description of anyone with a digital device that can access the internet. Students use the internet to do research and sometimes hire the services of expert writers to do their assignments. General internet users use the internet for entrainment and as a source of information.
Therefore, the marketing the marketing will be over the internet. The best way of doing this is ensuring that business is visible on the internet. One way of doing this is utilizing Search Engine Optimization (SEO). SEO helps in ranking websites high in the search results (they appear on the first page). Highly ranked websites in search results get more visitors, who in turn can be turned into customers. Search Engine Optimization is free, and the secret lies in the use of keywords and phrases.
The other way reaching potential customers is by paid online advertisements. Paid online adverts are placed on select websites and other platforms like Facebook and Twitter. When a potential customer is surfing the internet, the adverts will be placed on their way, and if they require writing services will go to the company's website or portal.
The company can strike alliances with online academic journals, prominent academics, and freelance writers and urge them to post their works on the website. This will increase traffic to the website, which translates to higher revenue. Freelance writers will be important when there is an oversupply of work, and this will be important in boosting the revenues recorded at the end of a particular fiscal year.
The relationship between the company and the customers will be the difference between its survival and collapse. It is imperative that the company maintains an honest and transparent relationship with them. One way to ensure that the customers are satisfied is to ensure that their requirements are met. When the customer rates their feedback, the company should ensure that their feedback is acted upon. The company should have a money back policy in case a customer is dissatisfied with the quality of work delivered. Keeping the customer happy will help in their retention and more coming on recommendation, thus staving off competition from other companies.
Special offers and incentives to attract more customers will be done depending on the actions of the competitors. The company should ensure that its pricing system is fair to the consumer as unfair prices will see the company lose out to the competition. Incentives can be planned during off-peak seasons in order to attract the small number of customers in the market. Taking the above steps will see the company consolidate its position as an online writing powerhouse.
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Online Writing Shop Essay. (2022, May 23). Retrieved from https://proessays.net/essays/online-writing-shop-essay
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