|February 21, 2007||Volume 6 Number 07 Issue 141|
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On-line Business Start-up Checklist
How to Build Super-Profitable Lists - Build Massive Profitable Lists. Top Experts Show You For Free.
Getting ready to head down to Duluth (about a 3.5 hour drive south) to see the little guys play hockey. My wife's nephew's son is in a tournament, so we'll drive down and spend three or four days in Duluth. Seems like there's a list of goodies that we need to pick up while we're there - a trip like this always seems to end up costing a couple of grand!
I've gone back to the begining with this issue. Hope you enjoy it.
Check out the freebies over at IdeaMerchant.com
On-line Business Start-up Checklist
So the desire to start a business on-line business is calling you with its siren call. You have some great ideas; you have a lot of enthusiasm; and you're ready to start. You're going to make a truckload of money and be your own boss. Well, wait just one minute! Regardless of the claims you may have heard about how easy it is to get rich off the Internet you will find starting an on-line business is no different than starting a business in the non virtual world. You need to consider a number of things first to ensure that this is as profitable and mistake-free as possible.
When contemplating starting an on-line business you need to take an honest look at yourself. What are your skills? What kind of interests do you have? Most people started their on-line business in the fields that they worked or had a serious hobby. A graphic artist could start a web design company or produce custom graphics. An on-line golf accessory supplier would be a natural for an avid golfer. You should also think of the types of jobs you truly enjoy and the ones you hate. Make sure that these match-up with the jobs you will be required to do to run your on-line business.
Do your homework before you start your on-line business. Do not make the mistake of putting all your efforts, money and time into a service that you want, and then try to find a market for it. You cannot make people want your service or product unless they already are predisposed to like it. A better idea is to find out what the consumer needs or wants and then design a service or product to fit that need or want.
Just like a real world business there is a certain amount of risk to any on-line business. By doing your homework you can lessen the risk by finding something people will buy and ascertaining just how much they will pay for it. This allows you know whether or not you can make a profit here, and to adjust your costs to keep yourself in the profit area.
Study your competition. Find out what they are doing and what works and what doesn't work for them. The more information that you have in regard to the market and your competition the better chance of success you will have.
Before starting your on-line business you need to develop a plan that you can follow carefully. You need to know what it will cost to start up your business. Where will you get that money? If you are going to ask for a loan, you will need to have a business plan to present to the lending institution.
It is a good idea to have a business plan even if you are funding your on-line business yourself. It will give you some specific goals and targets to measure your progress against.
To get your on-line business going you will need to make a significant time commitment and keep it. It will be very difficult to keep a full time job and work on your new on-line business. You probably will not be able to accomplish much, or reach your goals unless you set a specific time to work on your plan each day. Starting an on-line business and making it profitable enough for you to work full time on it is not an overnight experience. It takes time, sometimes, a very long time. But it can pay off handsomely.
You have done the required research, taken the time and made the commitment to your on-line business. You feel that now have a great product that the world wants and have priced it so that they can afford it and you can make a profit. You have one more thing to consider - marketing your product. (See newsletters 125, 135, 140 and others) Your customers need to be able to find your product so they can purchase it. This can be done on-line, off-line, or a combination of both.
You will need to continually study what works and what doesn't until you find what works the best for you. However, remember what works today, may not work tomorrow. Be able and willing to change your approach to marketing when and how the consumer dictates.
Until next time…
P.S. You've probably heard the buzz around the $7 sales. If you would like to run your own $7 sales, check this out for the instructions on how to do it, and the software to do it with.
Here's The LINK to find out more about $7 sales...
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