Part 2: Giving up commissions and keeping members successful

What do you think is going to save all those ad-based portals? In your opinion, is everyone ultimately going to have to change their business model to fee based in order to survive?
I don't think that they will have to be fee based. I think that the opportunities for revenue sharing with other vendors and selling content space instead of banner space will be the savior for some of them, others will be bought out by competitors at low prices and others will go out of business.

You are the only portal that gives up your commissions to its members? Why has that worked so well?
We cannot be on both sides of the fence. Our members will not trust us if they think that we are making money on every suggestion that we give them. If I am able to obtain a discount and negotiate pricing because I know how to do so, I don't feel that another business owner should suffer and pay a higher price.

Our members have limited budgets and we would like to see them stretch their budgets as much as possible. It all pays off for everyone in the long run.

Is there one quality that all businesses must have to be a success?
No, each business has its own challenges and successes. The only thing that I preach to everyone is to love what you do and do it like there's no tomorrow. I love advising business owners and I don't look at it as work. If you enjoy what you do, you will be successful.

What about those small businesses online who don't think they're big enough to need a good business plan?
Businesses must have a realistic business plan to follow. I see so many startups crash for lack of funding, advertising and management skills.

People seem to go into business without figuring out how much capital they'll need after they get their store open or website launched. Too many people think that they can just open their doors or put up a website and people will come.

Every business needs to have a plan in place on how they are going to acquire customers, who their customers are going to be and how they are going to service those customers. They also need to realize that they will need enough startup funds to cover their expenses for at least six months in case it takes longer than they expect to begin making money.

Too often I see businesses spend all their time and money building the physical structure of the business and not enough time nurturing the business once it opens.

What small business do you think is the most viable on the Web?
The small business that I feel is most viable on the Web, is one that realizes that although the Web is huge and the potential audience tremendous, it is good to focus efforts in a small area and expand from there.

If a small business owner believes that they can place banner ads or send emails to the masses and they will receive a favorable response, they are living a lie.

Your online business must be treated the same as a brick and mortar business would be. Careful planning, a grand opening, continued advertising within a community or targeted audience and reliable customer service.

It is really not the type of business that is viable but more that type of owner of the business. We have members in over 60 categories of business that seem to be satisfied with the results that the Internet has brought for their businesses.