If pre-planning is such a major factor as a salesman for somebody else's company, how much more important do you think it is when starting your own home internet business?
You may have an original idea never marketed online before, but the idea alone won't reward you with success. Only a strategic business plan will get you where you want to be. Lets discuss the basics that should be included in your business plan.
The three most important parts of a business plan are the business summary, the goals and objectives of the business and a marketing plan.
The business summary should give a brief description of the entire business. Next, you can list what you wish to accomplish with your business. Determining this will help you focus on what marketing methods you'll need to reach your goals.
Marketing is the key factor of a business plan. First, figure out who your targets are. Is your service or product going to attract business men, college students or stay-at-home-moms?
Next, evaluate any competing products and try to come up with a unique angle that will make your brand stand out. Also check out the competitors pricing and methods of doing business. You can do much to improve your product by understanding the pros and cons of competing brands.
There are many options when it comes to advertising. Check out all the different options and determine which is best for you. Set a budget that you can afford and stick to it. There are also free methods of advertising that may require a little extra work, but do pay off in the end. Spend time reading and educating yourself on the various ways of advertising on the Internet.
Try to find a balanced price point for your product or service. Pricing too low may give the impression that your brand is cheap and of poor quality. Likewise, Pricing too high may drive away a lot of business.
Shipping plays a big role in your online business. Post the shipping details on your web site for your customer's benefit. If you are shipping things of great value, consider providing shipping insurance. You may also want to look into shipping outside of the country you live in.
As equally important as shipping is payment methods. Common methods of accepting checks and money orders are needed. However, don't underestimate the power of the credit card. It is stated that if you don't accept payments with credit cards, your business can loose more than half of its sales. When deciding to use credit card payments, You should educate yourself on using a merchant account as opposed to a third party processing center and decide which method suits your needs.
Don't make the same mistakes I made as a sales representative and assume that you can wing it. Having a solid business plan can lead you to the path of success without the fear of being shot down before your home Internet business can even take flight.
Copyright © Robbie Fanucchi
http://www.RJFanucchi.com