Day 1:

We kicked off Day 1 of the Internet Retailer Conference 2008 with registration (registration was a breeze, well done!) and a continental breakfast where we networked with fellow ecommerce entrepreneurs, vendors, and speakers. The food was ok… (horrible), good I’m not a breakfast person anyway.

Then, we went on to the day-long “Advanced Strategies for Marketing Your Retail Web Site” workshop, which runs concurrently with “From Entrepreneur to Enterprise” workshop. Since its my first year attending IRCE, I chose the “From Entrepreneur to Enterprise” worshop. The topics were nothing ground breaking, but I did pick up couple things here and there. You can check out the agenda of the workshops here. We had a lunch break at 12:30 p.m.; again, nothing spectacular, just some salad and cold meat.

At around 4 p.m., the exhibit hall was finally opened. I immediately escaped the boring (and freezing, yea) workshop and went meet some of my existing vendors and prospective ones as well. I met Linda from my fulfillment house - EFulfillment Services. Met Paul from Order motion and Phil from Solid Cactus - as I was shopping for an inventory management system and was choosing between the two of them. I also met guys from FreeShipping.com (which are sending me cheques each month for sending them traffic - thank you very much!) and couple other companies. It was great to finally put a face to the name as I have been communicating with a lot of them through phone calls and emails for the longest time. They almost seem familiar to me!

Inside the exhibit hall

We began the cocktail reception at around 5 p.m. and they have a pretty good selection of wine, beer, and other beverages. The hor douvres are also really good and I was pleasantly surprised. As usual, I had a little too much to drink so I slept on my way back to Evanston on the cab.

It was a great Day 1 of the conference and next time I’ll post about Day 2 & 3.

Hey guys, sorry for not posting for a while. The reason is because I have been busy in the US for the past 3 weeks attending the Internet Retailer Conference & eBay Live 2008, a 2 Day 4 Men Intensive and Roundtable meeting with Perry Marshall, and attending my sister’s graduation at Northwestern University. Anyhow, this week, I will be posting about my experiences and I’ll start off with a review of Perry Marshall’s 2 Day 4 Men Intensive.

The view from Perry’s desk

In case you don’t know what 2 Day 4 Men Intensive is, it is a 2 day program at which you will spend the whole day at Google Adwords Guru Perry Marshall’s home office, and each person will spend half a day talking about their business, have Perry and other members brainstorm ways to improve your business through better marketing or monetization methods.

This time, we have couple experienced online marketers like Barry McDonagh from PanicAway.com, David Ciccarelli from Voices.com, myself; and people with solid business background but have yet to take their business online like Youcef Benloucif who did a lot of MLM, and Tony who holds position in a corporate job.

We talked about our current business model, our marketing and sales generation methods, some of the challenges we are facing, and how to dominate our market. Then the floor was opened for suggestions, criticisms, and Perry offered some valuable opinions about my current business. One big takeaway for me was learning how to ultilize Glenn Livingston’s research method to understand better the demographic and needs of my customers. Another main thing I got out of it was getting my mind wrapped around having my concession products manufactured in China. It is going to be a huge undertaking, but I’m up for the challenges ahead. This could potentially really propel my business to become of leader in the concession industry.

All in all, the 2 Day 4 Men Intensive was a great experience, and I got out of it a lot of ideas which need to be implemented in the following weeks and months to come. In my next post, I’ll talk about the attendence of the Internet Retailer Conference 2008.

Google Adwords is the most popular (and well-used) platform for advertisers on the web. Everyone uses it. And while, at least for a little while, none of these people are going anywhere, Google’s newest addition to their adwords application is causing a stir.

Basically, they added a feature for advertisers called ‘automatic matching.’ The simple version of how Adwords works is that you enter certain keywords into your account – when those keywords are searched by other people on google (or come up on sites like gmail), your short ad (with a link to your site) appears on the sidebar. The way automatic matching works is that the google machine searches for keywords similar to those on your account, that work just as well (if not better) at getting people to your site. They basically add keywords to your account.

For many users, this might be a welcome addition. Especially for those inexperienced at keyword advertising, the additions could very well improve their ad campaign. Google might find keywords that have been overlooked, and bring in much-wanted traffic. That’s good.

For others though, especially the more-experienced adword users, the automatic matching system can be cumbersome. For example, while the system may find a keyword that brings in more visitors, they may not be more-valuable visitors. Even with more clicks, you may get less sales. To show you what I mean, imagine you’re selling motorcycle helmets, and your ad comes up whenever anyone searches for helmets. Those are quality visitors, because they’re already looking to buy. The advertising is likely a good investment. Now, imagine google finds that ‘motorcycle crash’ brings in more visitors. That may be, but more than likely, these people are looking for information (rather than a product). They’re visitors, but not visitors that’ll buy. So, in this case, you’re paying more for more clicks, but you’re not getting more quality visitors. You pay more money (and max out your click limit quicker)… you just don’t get more money.

That’s not such a problem, right? Those that want the adword help can enable automatic matching. Those that don’t won’t. Simple. Well… not so much. Over the long Memorial day weekend (which is poor timing in my opinion), Google launched automatic matching into full beta, and added it to everyone’s account automatically (with no warning). All of a sudden, whether you wanted it or not, all adwords users had their account automatically matched. It can be disabled, but it’s still an unneeded hassle. Bad move on google’s part, if you ask me.

So… should you use automatic matching? It’s hard to say for any one person. I urge everyone but the experts to at least give it a try – it’s like getting feedback on a project. And like good feedback, it can be very helpful in figuring out exactly what you need (and exactly where you’re going). However, if you really know what you’re doing, or you have a good enough idea of which keywords work for you, you’re probably better off disabling automatic matching. This way, you’ll have a better-targeted campaign, and in the end, you’ll get better sales for your money.

Either way… good luck (with good sales)!

If you don’t know who Gary Vaynerchuck is, he should really check him out. He’s the frantic voice (and face) behind the wildly popular video-blog wine Library TV, where he reviews both expensive and inexpensive wines with a flair only he can bring (he calls it bringing the ‘thunder’). More than a great vlog host though, he’s also one of the new-media leaders… someone who has embraced new technologies and new opportunities to be very, very successful (both in terms of recognition and in terms of money). His ecommerce operatio grossed $50 million in 2007.

Though Gary makes most of his hay online, he recently crossed over into more-traditional media, and wrote a book about wine (building on his Wine Library TV brand). As it does these days, this meant Gary made the rounds on all the talk shows to promote the book. He tasted wines with Conan O’Brien and Ellen DeGeneres, and talked alcohol stocks with Kramer on Mad Money. And really, besides the entertainment value of seeing Gary’s style mix with these heavyweights, it was an interesting time to take a look at entrepreneurship, new tech, and the value of new media.

I mean, this would be inconceivable 10, 20, or 30 years ago. Back then there were only a handful of television stations, and a handful of websites. The TV shows that existed and the websites that existed were very limited in what they could do, and there certainly wasn’t much interaction within them. The money that existed in the TV mainstream stayed there, and the money in the tech scene stayed there (though there was still less).

Now, it’s a completely different story. People like Gary are getting television-like audiences online, and after awhile, are even making the jump onto TV. Gary got to where he is by producing high-quality video online (a relatively new concept), and by leveraging it on places like facebook and twitter (where he has thousands of followers). He’s taking it to another level with the book and the TV appearances, but really, that’s how it started. He was all about new tech, and new media. Eventually, he became about all media.

And more than it is entertaining to see, Gary’s path serves as a good inspiration. A good reminder how powerful new media has become, and how we can each leverage it to be more successful (whatever that means to each of us). We’re in a new age where new media and old media are coming together, and us on the Internet are in the middle of it. If you ask me (and if you look at Gary), I’d say that’s a good place to be.

Are you using the social media and web 2.0 to it’s potential?

Technorati Tags: wine, wine library tv, internet entrepreneur, web 2.0,

It seems like we’re in an era of natural disasters. The US is still recovering from Katrina, while these past two weeks we’ve seen tornadoes all across the Midwest, a huge cyclone in Myanmar (Burma) and a devastating earthquake in Sichuan, China. It’s sad to see so many people lose their lives, and so many people have theirs disrupted.

In addition to making me sad, these type of events inspire me to help out other people. I’m a successful entrepreneur, and I consider myself a fortunate guy. I know a lot of people who read this blog are in the same position, and on the same page. We have an opportunity to help people, and though we can’t do everything all the time, I think it’s nice to do something some of the time.

From what I heard, Red Cross seems to be doing a good job in channeling donations to where it is really needed. So last Friday, I went on the Red Cross Hong Kong website to try donating some money to find out that their website sucks! Simply sucks. I had a hard time to even find the donation link, and when I did find it after 5 minutes of stumbling on their website, I found out that they don’t take credit card directly online! They require you to print out this form, enter your credit card information, and then fax it back to them. Thats so ridiculous that I immediately left the site, went to the American Red Cross site and donated there instead.

That shows you two things - a clear defined call to action is not only important to an ecommerce store, it is also important to a non-profit organization. And that if you make your visitors take excessive steps to complete your conversion funnel, better believe you’re losing a good amount of them along the way.

Besides from Red Cross, you can also find a ton of ways to give just by googling either disaster, and plenty of other people around the entrepreneurship and web 2.0 world are starting their own initiatives. If you feel like it, find some of them, and join in!

In addition to immediate help, I think it makes sense to start helping those in need on a more-consistent basis, in whatever way you can. While the goal is always to make money, I’m a bigger and bigger fan these days of social entrepreneurship. I like the idea that we should give back, and design our companies to give back in small ways whenever we can. Sometimes, it can be carrying products that support good manufacturing practices. Other times, it can be designating a certain amount of your profits to charity. There are other ideas, both bigger and smaller, that you can do to help. It shouldn’t be hard to think of some that work best for you.

And even though these things may cut into your bottom-line in the short-term, they’re important. They position your business as one in the natural flow of the business world, and the world as a whole. That helps everything around you, and in the end, helps you. It may bring you more business, or may just make your business better. And while this happens, it’s not necessarily the end goal. It’s about doing the right thing, and helping others… energy coming back to you is just an added plus.

So that’s what I try to do… do the right thing, and do what feels right. I hope you join me!

Here’s the link to the donation page of Red Cross for China’s Sichuan earthquake relief effort, donate now!

Technorati Tags: morning, busines, internet entrepreneur,

In my last post, I talked about taking some time each morning to gather yourself before the day (and to plan it out). I stick by what I said – about how it helps to make a to-do list (and a not-to-do list). But those work best when you have too much energy, and too much motivation. What if you’re struggling with either of these? What if you have trouble getting going, or you have trouble figuring out what to get going on?

Well then, I have some more morning advice for you. Start the day by cruising the Internet, and by cruising the blogosphere. Check up on what other people are talking about, and what other people are doing. See what’s new in your field, and see what’s new in the world.

Taking some of this time will give you a big jumpstart (and a big advantage) going into the day. It’ll educate you - let you know what your friends, colleagues, and competitors are doing. It’ll let you know what’s happening in your field, and what interesting things are happening outside it. Most of all though, it gives you energy and motivation. Reading about other people’s ideas can give you ideas of your own. Reading that people are out there, doing exciting new stuff can give you some motivation to do the same. And finally, there’s nothing like reading about what your competitors are doing to get going yourself! Taking the Internet check-up time in the morning, especially when you’re having trouble getting started, launches you into your day. It gives you the spark to start (after you’ve made your lists of course), and gives you the spark to do good work once you have.

So again:

1. If you haven’t already, construct a blogroll or link list

2. Either on a schedule (every other day for example) or just when you feel like you need it, check-up on your list.

3. Then, once you have, use your newfound energy and motivation to get to work.

And that third point is important. Looking at a blogroll or a link list is a method to get you started, and to get your workday started right. However, the workday (not the Internet-surfing) is the main priority here. So don’t get caught up in the web… get to work as soon as the time serves its’ purpose, and as soon as you can do so successfully.

Do that, and you’ll be better at your job. You’ll have a better idea of what you have to do, and you’ll have more energy to do it. It’s win-win.

Technorati Tags: morning, busines, internet entrepreneur,

In my last post, I wrote that God is right… that Sunday is best taken as a day off. Well, I don’t know exactly who to give credit to on this one, but I’ve discovered something else about taking time off. Namely, that you should take some each morning. What do I mean?

Well, I think most people start work by launching right into the task that feels the biggest or the most-pressing. This might be effective in getting that task done, but once it is, what next? Do you have a plan for the rest of the day? An ordered list of what you’d like to get done? A list of what you’d like to avoid? Well, probably not. After the first task is done, you probably feel unclear about exactly what to do next, and in what order. You probably struggle from a lack of direction, and spend a lot of frustrating time each day figuring out what to do instead of actually doing it.

We all know that feeling, and taking some time ‘off’ each morning to gather yourself and plan your day can prevent it. Try it in one of the next few mornings - even if you really want to get started on your work, try taking a short amount of time (even 5-10 minutes) to think about the day. Make goals of the few things you’d really like to do, prioritize them, and put them in an order you’ll do them in. Be sure to be realistic – make sure you really can get all that done. Then, make goals of a few things you don’t want to do – all the things that can distract you from completing the goals, and that you don’t want to spend time on (email or twitter, for example).

Then, once you have both lists (and a clear head), you can start. Once you do, you will be more focused, more productive, and you’ll get more done (in less time). Your day-long productivity will more than make up for any time you ‘lost’ in the morning. And better than that even, a more-focused and more-productive day will eliminate those feelings of failure and frustration (inherent in the ‘busy morning’ scenario). Instead, after some morning planning time and a more-productive day, you’ll feel successful and content.

Your business will be happy, and you’ll be happy. All for 5-10 minutes in the morning. Seems like a good trade to me!

Technorati Tags: morning, busines, internet marketing,

As entrepreneurs, we are often caught in our own business, it becomes an integral part of our life at which we work in it and think about it all the time. We get so consummed by it emotionally to the point at which we cannot see it clearly from an outside perspective.

Since 2 weeks ago, I tried this new weekly schedule, at which I do not commit myself to ANY obligations on Sunday (social or business). Instead, I spend the time reading the newsletter, blog posts, reports, and reading materials I accumulated all week. When I’m done, I spent some time reflecting on the materials I learned and then set plans for the following week to execute on.

The result has been tremendous! I’ve never been able to see my business more clearly and it increases my productivity during the week by a whole lot.

Turn out God is right all along - take a break on Sunday!

Technorati Tags: Sunday, God, busines, internet marketing,

This is a great example which goes about to show you how one single brilliant idea has the ability to change the world - PlayPumps. Kids play on a merry-go-round and pump water for villages at the same time. Girls benefit in particular because they are usually the ones fetching water, and now they can use the spared time to receive education.

I’ve donated - how about you?

Technorati Tags: Playpumps, Non-profits,

Since opinions, speculations, & suggestions are ALL OVER the internet and paper about this ordeal, I thought I would chim in and give my 2 cents.

Is this a surpise?

Hardly, it has been widely speculated that Microsoft is looking to acquire Yahoo since 4th Quarter last year. In fact, in Merrill Lynch’s “Top 10 Internet Themes for 1H’08″ report, it has been mentioned and speculated. Seriously, for Microsoft to even stand a chance in competing with Google, this seems like one of their very few options.

How would this end up?

Hard to say. Jerry Yang (Co-founder and CEO of Yahoo) seems to really dislike the idea - in particularly he felt that Yahoo was “blindsided” by Microsoft. He’s looking for ALL other alternatives to avoid being hostilely tookover - including (rumors about) conversations with a New York based private equity firm and couple Valley based one. Google is also interested, but I am not sure if they have the financial ability to do that alone (without PE funding). Its been reported that Jerry has been trying to strike some deals too with Rupert Murdoch, but again, News Corp won’t be able to do it without PE funding.

I personally feel that Microsoft’s effort is likely to fall through… I’ve dumped all my Microsoft stocks and Yahoo stocks (yay baby, up 48% last Friday). If you own one of these two stocks, be prepared to be GLUED to your computer in the next 3-4 days. I recommend you subscribe to the RSS feed of Silicon Vally Insider.

If Microsoft successfully acquire Yahoo, what does it mean to YOU?

So lets say this deal goes through, how will it affect the internet landscape? I would like to quote Adwords guru Perry Marshall here, “2 kids each with an IQ of 75 is not going to outsmart another kid with a 140 IQ”. - and I agree wholeheartedly.

There are certainly things that Microsoft does better and some that Yahoo does better, but the integration will be difficult technically. Plus, what Google has an advantage over the 2 others is its ability to MONETIZE traffic - which is the weakest area of BOTH Yahoo and Microsoft.

All in all, this shall be an interesting 3-4 days ahead of us. =)

Disclaimer: The writer owns stocks of Yahoo, Google, and Microsoft.

Technorati Tags: Yahoo, Microsoft, News Corps, Google, search engine,