What is your Business Strategy? Remember, If You Fail To Plan You Will Probably Fail
Many people have the mistaken impression that because they are running an online business they don’t need to have a plan. Nothing could be farther from the truth. That is one of the reasons why 95% of online businesses fail.
If you want to make money online, you must start to take your business seriously.
Just think about it for a moment. If you were starting an offline business you would most likely need a formal business plan before you even had your first customer. This would be required for a bank loan or many other reasons. So, you might be saying, “Bob, I’m not getting a bank loan, so I don’t need a business plan.” Well, I would agree with that to some extent. You probably don’t need a formal business plan, but you still need a plan.
For some reason, most folks in internet marketing don’t have a plan or any real direction for their business. Their “plan” is basically to post affiliate links for whatever program they are promoting and hope someone clicks and joins. This can be a pretty frustrating way to run a business and generally winds up in failure.
To properly run a business you need some direction.
I’m not saying you need to run down to the local copy shop and have a business plan bound and covered but you at least need an outline of how you intend to run your business and attain your goals.
Here is a simple outline of a business plan to get you started:
- Who are you as a business person and how do you want to portray yourself to your potential customers?
- Why are you doing this? What are dreams?
- What principles will govern your business dealings?
- Business Layout
- What does your business look like? Or, what do you want it to look like?
- What programs are you currently running?
- What are your financial goals and timelines?
- What tasks are necessary to attain your goals?
- What is your budget?
- Are your financial resources sufficient to carry out your plan?
The Tasks are last, but not least because once you have everything else figured out, you must make sure your tasks are in line with the rest of your plan. If your tasks don’t help you properly implement your plan, it simply won’t work.
My hope is this will help provide some direction. If your business has stalled out, take a break for a few days and do some planning. It will do wonders for you and your business.
I’m happy to help. You know where to find me. You can also check out Manage Your Business Finances Before It’s Too Late.
To your success,