START & RUN AN INTERNET RESEARCH BUSINESS
Gerhard W. Kautz
Self-Counsel Press
(a division of)
International Self-Counsel Press Ltd.
USA Canada
Copyright © 2012
International Self-Counsel Press
All rights reserved.
Introduction
I have been running an Internet research business for about ten years, since I officially retired. It has been financially rewarding, but more importantly, it has been a lot of fun. I do almost all of my work from my home office, and I do the work when I want to. In effect, I am being paid to surf the net to keep up-to-date on the technological developments in my specialty, even though I am technically out of the workplace. This in itself is a huge reward. Another reward is the knowledge that I am helping both large and small companies.
This book is intended to help you start and run an Internet research business of your own. You may not know what you want to specialize in at this time, but this book will guide you through a decision-making process that should point you in the right direction. This book covers all of the aspects required for any business, but is aimed specifically at the Internet research business. You will learn about setting up your company, pricing your services, marketing, and getting contracts. The all-important matter of how to do the work is cover-ed, as is the sometimes annoying work associated with the company administration.
Practical examples of Internet research businesses are used throughout the book to illustrate the instructions given.
1
The Internet Research Business and You
1. The Internet Research Business
The Internet research business involves finding specific information on the Internet, for a client, and getting paid to do so. It also involves arranging and presenting the information in a form that is useful to the client, thus saving him or her considerable time. Occasionally, there will be a requirement to search other sources for information as well; however, most of the information will come from the Internet.
Companies around the world depend on information to stay in business and prosper. They need information on new technology, components for manufacturing, software, markets, competition — the list is almost endless. Companies have to find and evaluate the information, but this can be time consuming and costly for them. Internet research consultants can be hired to do this work for the companies much more cost-effectively than if the companies did the work themselves.
Who are these Internet research consultants? They are often one-person operations, working from their homes, in a specific information area. These people have usually, through previous employment, acquired specialized knowledge in a particular field. More importantly, they know where to go to get more and updated information for their clients. Of course, their main source of information is the Internet, but they do not limit their investigation to just using keywords and search engines. To validate the information and obtain more details, they also look in places such as relevant online magazine articles, company product lists, company annual reports, and press releases. They will search anywhere that will provide them with the detailed information that their clients have requested. This is the type of business that this book will help you get started and run.
2. How Companies Find Essential Information
Some companies subscribe to specialist information services that keep them up-to-date on their particular information requirements, but in most situations the companies get the information themselves. Larger companies may have a dedicated research department to provide the information for them; however, this can be a heavy expense on the company and certainly not one that can be afforded by most companies. Usually the people within the company who require information are forced to find it themselves. This is a very time consuming effort because these people are not experienced information miners. They usually just punch some keywords into an Internet search engine and use what comes up.
The Internet search method is very popular, but there can be some negative consequences. For example, an inexperienced searcher stands a chance of overlooking vital information, or worse, obtaining false information. However, the big negative is the time the employee spends looking for the information. This is time that should be devoted to profitable company-assigned tasks. It can cost the company dearly, particularly if, for example, a high-priced engineer spends days searching to see how other companies solved a particular design issue. This is where a contracted information researcher can save the company money by acquiring the information cost-effectively, and freeing the company employees to do their primary job functions.
The information required by companies varies with the company and within the company. Manufacturing companies rely heavily on information to improve their products, increase their productivity, and market their products profitably. The service industry needs information for the same reasons. The government requires a wide range of information. The type of information required by these potential customers is briefly discussed in the following sections. As you read through the sections, think about how you could help in obtaining the information for them. You may also be stimulated to consider other areas for which you could provide an effective information research service.
2.1 Manufacturing industry information research needs
Manufacturing companies rely heavily on information that is usually obtained by the employees who need it. A much more cost-effective source of information for them is an Internet research consultant, hired for a specific task, or on an annual contract. These companies need information to help them to —
• design the goods they will manufacture,
• develop the goods to manufacturing state,
• establish production methods,
• find the best sources of component supply,
• identify the market they should address,
• assess the competition,
• establish prices,
• determine the best sales methods,
• determine the best distribution methods, and
• obtain customer feedback.
As an Internet research consultant with knowledge and experience in one or more of the listed activities, you may be able to save the company considerable time and money by acquiring the required information for them, verifying it, and presenting it to them in easily usable form.
2.2 Service industry information research needs
The service industry also needs information. The obvious service companies with a need for information are the information companies themselves, but these companies already have trained staff to do the research work. In effect, they are your competition, but with much higher overheads. Some of the other service industry segments that can use the services of Internet research consultants are as follows.
2.2a Investment firms
Investment firms often have their own researchers to assess the viability of