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Monthly Archives: April 2017

Guide to Create Business Plan For Online Business

The business summary should give a brief description of the entire business and is an integral part of the overall business plan. After you have completed the business summary you should begin to list the objectives or the goals that you want to accomplish through the business. Next and perhaps most importantly, you should develop your marketing plan. The marketing plan will address all the specifics of the business. When developing the marketing strategy you should consider the following:

The target market. The target market is the customers that you expect to see visiting your site. For example will your product be more appealing to college students or those who are in retirement?

Consider the competition for your product when determining the marketing strategy. Choose a product that will be seen as unique and useful. Visit sites that are offering the same or similar products. Find out the cost, and how they are marketing their product. Find out the pros and cons of their business and try to improve your product based on their flaws.

Research the various methods for advertising online. You should become educated about search engines and how they work since each one is different. Also be sure that you know how to submit your site to search engines. You should be prepared to spend a small amount of money on advertising, but the profits that you will gain from the advertisements will prove to be money well spent.

Think about pricing. Again, look at the competition and see what similar products are selling for. Pricing can play a big role in the success of your product since selling a product well below the average price may lead customer to think that there is a problem with the product or that it is not of the best quality. However, pricing items too high could also detour customers.

Determine the shipping method. Be sure that you know how products will be shipped so that you can have shipping details clearly posted on your site. If you are shipping things of great value, you should consider providing shipping insurance. Also think about shipping outside the country that you live in.

Think about the different methods of payment that you will accept. If your business does not accept credit cards, you should be ready to give up half if not more of your sales. If you decide to accept credit cards will you use a merchant account or will you use a third party credit card processing center? Both will help you get started and the third party processing center will handle all of the business so you don’t have to. You should decide which you will use and also if you will accept checks or money orders. It is essential to have a secure server when taking credit cards.

These few things will help your online business to become a great success and also provide you with peace of mind knowing that you have thoroughly thought about and planned for the opening of your online business.

 

Effective Action Plan

# First, get a blank piece of paper and a pen.

# Decide where you are. Pick an area that you want to focus on (for example, monthly income or number of clicks to get one sale). Be sure to identify a specific area of your business and then identify a specific number you want to work on. For example, if your current monthly income is $3000, write that at the top of your page.

# Decide where you want to be. Using the same area of business and the same measurement (dollars or clicks or whatever you chose in step 1), write out where you want to be. If you want your monthly income in six months to be $6000 per month, write that at the bottom of the page.

# Now connect the dots! On the space on your page between where you are and where you want to be, create steps with real, practical ideas that help move you toward your dream. If it’s a simple matter of only two or three steps, that’s all you need. However, more than likely, you need to fill your page with ideas to help you move from “now” to “soon.” Some ideas for the example we’ve been looking at might include: increase prices by 10%, try upselling customers into a higher priced product, do half an hour of cold calling each morning, etc. These items should be specific action steps that you need to take, not general ideas you have. Be sure to assign due dates for each one so you have a timeframe to work in.

# Now, take those action items, and implement them into your weekly
planner.

# Then simply execute! Do one step at a time, each day, every day, until you’ve reached your time limit listed at the bottom of the page. Did you achieve your goal? Did you miss the mark? If so, how close did you come?

 

Tips to Creating and Following a Successful Plan

# Start with the end in mind. Set a deadline for your goal. Write the completion of your goal on the deadline date in your calendar. Then, work backward by putting tasks in your calendar each day or each week. For example, if you want to send out a mailing this spring, choose the date that you want the mailing to go out. Then, work backward to create a to-do list each week. If you wanted to send your mailing out on April 1, you would write, “edit mailing” on March 31, and “finish creating mailing” on March 30 and so on. Do this for each goal that you have. Before you know it, you’ll have weekly, and even daily plans laid out.

# Spend time each day planning. Take 15 minutes every day to create a plan. If you follow the example above, you’ll have a broad plan to follow. However, life is full of opportunities, and you don’t want to miss out on anything. Life is also full of things you don’t plan on – like having to get the hot water heater fixed. You’ll need to spend some time planning to include unexpected things into your day. It’s ok to change your plan, move things around, and re-arrange your schedule. It happens, and it’s ok to shift your plan to make room for the unexpected things.

# Put strong activities on your to-do list. There are actually certain things that you don’t need to include in your to-do list. The little things. The things that will get done no matter what. For example, don’t put “mail the bills” on your to-do list. Keep your priorities on your to-do list. Put incidentals or non-essential tasks on sticky notes. Once they’re done, throw the note away. Also, don’t put little things on your to-do list just for the satisfaction of having something to cross off.

Planning to succeed doesn’t have to be intimidating or overwhelming. Simply set your goals and follow these three tips. Before you know it, the road to success will be laid out right in front of you.

Remember – any good plan needs to be put into action. It’s not enough to simply write words on paper. You must go forward and create your results.