No related posts.
It seems each day more people are turning to the internet to start a new business. This includes affiliate marketing, internet marketing, eCommerce and even brick and mortar businesses that are launching websites. This doesn’t mean that everyone that launches a website or starts an online business is successful. In fact, the vast majority of people will fail. Not because they didn’t have a good business, BUT – because they didn’t have a good online business productivity plan. Understand that we are not talking about just creating a plan on getting your business up and running, There is more to it than that. You need to take the time to create a solid business plan. The point of creating a business plan for your online business, is to 1. Help you clarify what your business is, 2. Who your target market is, 3. Who your competition is, 4. The cost of running your business, 5. The cost of marketing and advertising and establishing long and short term goals.
Sounds like a lot, and it is but discovering ways to increase productivity is vital to your success. There is an old saying, if you don’t know where you are going any road will take you there. Most people start a business online because they have the misconception that it is easy. There is little to no overhead, which means anyone can do it… and they can. The point of starting a business though is to make money, and you started your own business because you understand the only way to live the dream life is to take control of the money you make.
Let’s take a closer look at what creating a business plan is going to do. For the sake of the example here we are going to assume that you are starting a business that sells paint thinner, but not just any kind of paint thinner, the product you have is very special and rather pricey. You realize that it would take a minimal amount of sales for you to make your full time job your part time job.
Who are you going to sell to? Obviously just about anyone that paints could use your product at one time or another. It is going to be a waste of time for you to market to everyone; you need to narrow your focus. Your target market may be house painters or artists. Is there a special type of paint that this product works best with (oils or latex)? What is the demographic of your market? Once you get your demographic together it is important that you know if there is any competition. Now it may seem really awesome to have a product that no one else is marketing… as long as there is a demand for that product. If you can be the first person out there with this product that people desperately need you are going to make a killing.
The other reason for looking at your competition is so that you can see what they are doing to market to your shared target audience and do it better so that you are improving personal productivity, getting the sales and they are not. You can also learn from their mistakes, perhaps saving yourself hundreds of dollars and invaluable time in marketing the right way from the beginning.
It isn’t too late for you to create a business plan for your online business and to help achieve your goals to maximize production. The goal is to clearly define what you are doing, why you are doing it and how you are going to do it.