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Getting Started in Your Online Business

Posted on 25. Jul, 2011 by Faye Bond in Blog, Build A Business Online Today, Internet Marketing, Marketing, Online Business

Getting Started in Your Online Business

Starting an Internet business can become daunting if you do not have a plan. Once you have made a decision to start, you are anxiously anticipating the money you will be earning and you are full of energy – ready to go! You have a great idea for a profitable online business. Perhaps you have an original idea that has not been marketed online before or you developed a new spin on an ordinary product.

Whatever it is that has influenced you to start your online business, a critical step you must take is to have a plan before you begin. This is not the time to "play it by ear". Here are some basic considerations that should be included in your plan. While having all of these success attributes will not assure you of instant success, not having them could be the beginning of the end of your online business.

According to Robert Krummer, Jr., chairman of First Business Bank in Los Angeles, "The business plan is a necessity. If the person who wants to start a small business can’t put a business plan together, he or she is in trouble." You need to take action and create your own plan for your online business.

The basic business plan for an online business should include an online business summary and should give a brief description of the entire online business. This is an integral part of the overall business plan, allowing you to focus on the main purpose of your business – making money.

After you have completed the online business summary you should then begin to list the objectives, or goals you want to accomplish through your online business. Everyone has a direction they want to go when they start a business. If you don’t write them down, you can easily lose focus on your objective – accomplishing your goals.

Perhaps the most important aspect of your business plan will be developing your marketing plan. This can and should be the most detailed portion of your plan because it will address all the specifics of your online business.

When developing your marketing strategy you should consider your Target Market, Competition, Advertising, Pricing, and Shipping.

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"? You will want to clearly define the keywords you will use on your website that will effectively reach your target market.

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

Also, you should research the various methods for advertising your online business and 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.

Faye Bond

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Tags: business, Business Start-Up, Internet Marketing, Marketing, marketing strategies, Planning

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