Business Plan Do’s and Don’ts

Creating Your Business Plan

Online Marketing Entrepreneur Mindset

If you are creating your business plan for the first time, you may not be aware of things you should do and things you shouldn’t.  If you have knowledge of this in advance, you can create a winning business plan right out of the starting gate.

Do’s of Writing a Business Plan

  • Be Comprehensive: Create your business so it describes in detail every aspect for your business right down to how you will handle different situations.  The more comprehensive your business plan is the more likely you will be to succeed and be taken seriously by lenders and investors.
  • Package It: Design your business plan in the form of an attractive kit.  Not only does it look professional, but it will get you where you want to go with lenders, investors, and vendors.

  • Seek Advice: Use your business plan to seek advice from experts that are related to your field of business.  Not only will you learn a few things, but it will spare you some business headaches and monetary mistakes down the road.

  • Spell It Out: Describe the strengths and weaknesses you foresee in your business and then describe how you are going to handle them.  This includes any management that will be a part of your team.

  • Modify It: As your business grows, continually modify your business plan to reflect the changing conditions that result from business growth.

Don’ts

  • Avoid Inflating Estimates: When creating future sales projections, do not inflate the predictions.  It is better to play it safe and be conservative with your projections.  If you end up with more sales then expected it looks better than if you lost sales.  The opposite principle applies to projecting costs.  Try to keep costs as low as possible so the sales to cost ratio balances out.

  • Don’t Ignore Weaknesses: Do not disregard weaknesses in your business plan when they are pointed out.  This will come back to bite you later.  Instead, reflect on them and figure out how to improve.

  • Don’t Stress the Long-Term: Do not focus on your long-term projects.  It is better to have a solid plan for the short term which would be the first year you are in business.

  • Don’t Spread Yourself Thin: Do not write your business plan so it serves everybody.  It will mean more to the people involved with your business if you are focused on a specialization.

  • Don’t Base the Plan on a Concept: Do not write your business plan based on a concept that you think will make it look spectacular.  Test the ropes first with what you are trying to accomplish.

As a final thought, always keep your business plan up-to-date and current with changes of your growing business and never…..never omit preparing a business plan before you start your online business.

Learning online marketing with you,

~ Julie

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Business Marketer – Organize it Your Way

Frustrated Marketer

There is nothing as frustrating for a marketer as remembering viewing a site that had exactly the information you need right now – and forgetting where the site was. If you’re lucky you eventually find it again after thirty minutes of searching your browser history. An hour later you need a Private Label Rights (PLR) package you downloaded last week but have no idea where you filed it on your computer. Fifteen minutes later you find the PLR articles filed in the “stuff to use” folder.

Organize Information

To work effectively, organize the information you download, the sites you save, and the ebooks and reports you buy. Some lucky people seem to be organized by nature. Having a place for everything is in their genetic makeup. They know which drawer the scissors are in and which folder contains the article they wrote yesterday. For the rest of us who suffer from DS syndrome (disorganized slob) a serious effort is required to establish an organizational blueprint that works.

Organize it Your WaySetting up your computer and your business in a way that promotes efficiency requires a common sense approach. Don’t rush to the store and buy tons of supplies (though that’s often the first thing we disorganized folks think of). A much better approach to start with is to identify areas or subjects you will be working with and establish folders on your desktop and in your bookmarks for those subjects. If you are learning to work with blogs a simple folder system means opening one folder to find all of the information you have saved or purchased about how to blog, what plugins to use, how to ping your blog and in your bookmarks “blogs” folder you’ll have one set of sites with tutorials or examples that you’ve save as you’ve found them.

Folders

If you have multiple sites add a folder with a clear title such as “my sites” and create a sub-folder for each of your sites. The backup for that website, articles, new content to add, traffic stats saved and affiliate product links for that site would all be in that sub-folder. By keeping your method of filing and organizing simple you keep it easy to use.

From the headers, images and color codes used to the articles added to the site and the affiliate product codes used – everything goes in that one file labeled with the title of the website. In time what you have is one “sites” folder with all of the information about your websites and projects in subfolders. When you buy a product online such as an ebook or site templates you may choose to download the info product to a particular folder. For accurate records you also might save the sales page and any guarantee or contact information.

On-Going Organization

As your business becomes more complex you will be able to add to the basic setup you began with and do it in a logical way that suits your style. You may need a file for graphics to add any free graphic images or headers you purchase. How about a folder for PLR material and for products you have resale rights to?

Don’t forget the financial aspect of your business. Excel spreadsheets can be used to track spending and income and even to keep tracks multiple names and expiration dates. Download the information from paypal accounts monthly into your financial folder and you’ll have all the info you need at tax time.

Learning online marketing with you,

~ Julie

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Internet Marketing Finding Your Motivation

One concern often expressed by new marketers working online is how to find or keep motivation. The belief seems to be that before starting an online business you must “find” motivation. Inspirational quotes are traded on forums, self help books are read one after another – all in search of the elusive “motivating factor”.

Finding Your MotivationThe unfortunate result is time wasted and tasks not done. What does motivate you? It might be the desire to leave a job you dislike; it may be the need to earn an income after losing a job. You may be spurred into action by the idea of getting away from a lifestyle that doesn’t suit you or by the dream of living the life you want.

Your wants, needs and perhaps dreams are enough to get you excited but if you expect to feel motivated each day, you’ll be disappointed. It’s easy to procrastinate and find reasons not to start a new site. It’s more comfortable to claim lack of motivation than to admit to the “what if” list in your mind. What if my site isn’t good? What if my product doesn’t sell? What if I can’t do this right? Those thoughts are common but can be balanced by asking other questions. What if I succeed? What if my product sells like crazy? What if I’m really good at this marketing stuff?

Self-Discipline

If you want to succeed in internet marketing, self-motivation is the key. If you find motivational phrases inspiring, choose one phrase that suits you and post it where you will see it every day. It won’t help much but it will make you feel better in the beginning. The truth is it’s not motivation you need but self-discipline. If you work an offline job you don’t think about motivation because you have to do the work. The boss is watching and you have a job to do.

Starting an online business requires accepting yourself as both the boss (he who must be obeyed) and the employee (he who must get the work done). If you can see yourself as a tough boss and a good employee, you are ready to move ahead and build your internet marketing business. If you need to set work hours for yourself, do it. Take regular breaks and an hour off for lunch – after all, you are at work.

It Comes from You

Where does motivation come from? It comes from you, not from outside influences or other people. The best way to find the drive to complete a project is to start it. Begin writing articles and the results will lead you to write more. Build a website that earns a few dollars and it will motivate you to build the site bigger and better.

Focus on what you need to learn and what you must do instead of how you feel about it. Trade the insecurity of waiting for the lightning strike of motivation for the satisfaction of accomplishing a goal.

Learning online marketing with you,

~ Julie

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Internet Marketing Reality Check

Exciting outlook

Getting started in internet marketing is so exciting that many new marketers tell family and friends about their new venture. They see possibilities they never dreamed of – and realize their age, race or physical limitations are not limitations when working online. In their excitement they expound on what they plan to do and how much money they can make and are crushed and angered when friends respond with skepticism. Don’t worry about what others think – get busy and prove them wrong.

These aspiring marketers search online for “how to make money” and are inundated with hundreds of sales pages promising easy cash, fast profits and great income for just working a few minutes each day. They spend hours reading the text on these sites and the claims and promises can cause common sense to fly out the window. If a former truck driver now earns six figures a year, why couldn’t you? The more you read, the better working online sounds. How exciting to be able to choose your own hours, sleep as late as you want, make money while you’re sleeping. And the truth? It’s all possible but not likely for someone who has just decided to become an internet marketer.

Sales pages are written to sell

When you are buying “make money” ebooks and joining multi-level marketing programs and memberships that promise to train you to make money online, you are not a marketer. You are a customer in what is known as a target audience. Some new marketers stay in the buying mode for years and then quit “marketing” in frustration. They haven’t earned an income and may become cynical about working online or may blame themselves for being unable to succeed. They will honestly tell you they have tried everything and nothing worked.

Some will go into debt quickly downloading one ebook after another. They quickly read through the plan the author proposes, and either do a few steps and quit or never start the marketing plan in the first place. They mean to do it but another new method is supposed to be great or a new ebook was just launched – so they move on to the next big idea.

Make your own path

Internet Marketing Reality CheckInternet marketing is not a dream or easy path to riches. Taking the time to learn basic skills such as building a website and a blog and the willingness to invest a small amount of funds for domains and good hosting will pay off. Learning to effectively use tactics such as article marketing, marketing through social media and video marketing will provide payoffs for years if you put in the effort at the beginning of the journey.

Internet marketing is like learning the alphabet as a child. You can’t start with A (I’m new) and jump immediately to Z (I’m rich) without learning the letters between A and Z. Don’t read about building a website or blog – do it and learn as you go. If you plan to market with articles it won’t help much to write one article and then wait to see what happens. Write ten articles and while doing that learn how to find good niches and how to choose the right keywords and then write ten more articles.

Ask for advice from other marketers you meet online through blogs or forums and listen to that advice with an open mind. Make purchases carefully and remember you are building your own business. You may learn from others but you can’t follow someone else’s exact footsteps. That path has been taken. Take the best advice and training from different sources and combine them to make a plan that will work for you.

Learning online marketing with you,

~ Julie

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Internet Marketing – Leaving the Free Mentality in the Dust

Newbie Marketers Free Mentality

Newbie Marketers Free MentalityOne self-defeating belief of those new to working online is the insistence that everything be free. The reason often given is “I want to see if it works before I spend anything.” It’s understandable but not realistic. There are fantastic tools and scripts offered free but there are a few tools you need to pay for from the start.

With blogger, you can start and maintain a blog for free. You can apply for the Google Adsense program and earn money. What could be wrong with that? Blogger can remove your blog at any time without warning. Your site may violate a term of use or may appear overly promotional – the reasons seem to vary widely. The problem with using blogger as your main site is that you don’t own it.

Does this make Blogger blogs useless? No. Experienced marketers use blogger blogs as feeder blogs to funnel visitors to their “money site”. In fact, marketers often create a web of free blogs feeding each other with links and all leading back to the money site in the center.

A free autoresponder sounds like a good way to “try” building mailing list. Why pay for one of the major autoresponders with monthly fees when you can send emails for free? Simple answer – emails not received are emails not read. The major autoresponder providers work to make certain ISP’s do not filter email from their service into spam folders.

Domains and hosting are not expensive. You can register a domain for under $10 a year and can obtain quality web hosting for the same amount. You can quickly learn to build a (free) wordpress blog on your own hosting server with your own domain address. Free templates allow you have some freedom in the design and colors and blogging is easy even for beginners.

Invest in your business by purchasing tools such as domain names, hosting, and software that help build your site or blog bigger and better. There is no reason to buy links or to hire an expensive SEO service. Spend wisely and you’ll find starting an online business is the least expensive way to begin self employment.

One of the best tips about purchasing products for your business is to wait 24 hours after reading a sales page to make the purchase. Don’t read the sales page a second time – just go back to the site and see if you still feel the urge to click “buy now”. Chances are, you won’t. Sales pages are designed to make you want to buy so give the emotional high time to wear off before you pay for something you may not need.

Understand that investing in your business is not the same as just spending on anything that makes promises on a sales page. Buy only what you need and only when you are ready to use it. You’ll keep down your costs and be in profit that much sooner.

Learning online marketing with you,

~ Julie

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Online Marketing Business Basics

The key thing about online marketing is this, marketing is a business. Don’t get caught up in the hype and fads lurking around the internet. The basics of marketing are only a part of your business not the business.

Successful running businesses are structured to concentrate on forward moving projects. From the beginning you must build and keep a strategy in place. This is not to say things are carved in stone. It means you run a timeline with deadlines with the understanding that parts are in motion and fluid.

The internet is not in the infant stage anymore. The masses have access and countless numbers of people are able to access the internet now. We have moved beyond the pure newness phase.  I am sure I don’t have to tell anyone that business across all fields of the market place are adapting to this new way of communicating. This new era in marketing has an advantage of creating systems which will run on autopilot. There are proven and tested systems already taking shape online.

This is one of the many things I realize during my first session in Alex Jeffreys coaching program. The program title itself “Marketing with Alex: We’re marketing with you and for you …” shows the change.  When I was listening to Alex through the first webinar I was doing other things. I remember thinking that I know this! Nothing new so far! Later after soaking in all the information I had the realization that hype and fads were still gripping me.  I liked the infant stage and newness of the internet and did not want to give those feeling up. But wait! Hold on! I also realized that I could be a part of this growing phase and have fun and experience this slice of the internet experience.

When I look back to my first post it is pretty funny. I posted of the newbie dream, I didn’t even know what that was, and maybe it was a fog with stardust in the air. Well, not anymore I am ready to start rewiring my thoughts and experience a different lifestyle.  Haaaaa, yes I still want to be able to wake up naturally every morning on my schedule.

Learning Online Marketing with You

~ Julie

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