Your step by step plan is below and watch this short video.
Comments: I personally love audio and video but I will add text to introduce it for the content side
The key to having a successful business is doing the ground work and we have some great videos to help you with doing the research and laying these strong foundations.
What we are going to do is build a website from scratch and I am going to create a product on Video Lighting so you can see the whole process from beginning to end. I ended up selling this site for $350 US which is another way to make money. Flipping sites. We will look at this later. Since then I created another one you can look at here.
I choose Video Lighting because my research shows that lots of people are getting into making videos for business and pleasure. The market is exploding with free public video sites.
There are lots of other products coming out so I can also use affiliate marketing to also sell other peoples products.
So here is what makes a great Internet Business:
1. Get used to using the right tools
2. Have a great product
3. Develop a good website full of content
4. Automate the selling process and accept Credit Cards (eCommerce)
5. Marketing and Advertising
6. Build a list of customers and prospects
7. Offer excellent service
8. Duplicate and expand your options
Tools: Now I know you want your slice of the Internet but if you dont get used to using the right tools then you will be chasing your tail once things start to pick up speed. In this section we provide all the tools for you and how to use them. Start Here.
Product: Whether you decide to sell Tangible (products you ship to customer) Digital products (products they download)or services the process is still basically the same. You will need to explain the product and its benefits to the customer and possibly follow up with additional information. Start Here.
Website: We will show you how to use a state of the art web development system called WordPresss. Though it is only the skeleton of what you will develop everything is included and we will take you step by step how to use it to maximise your potential. Start Here
eCommerce: At the center of any good Internet Business is the ecommerce system.
Systems are key to cutting down your workload and automating many of the day to day processes that traditional businesses have to do. Start Here.
Marketing And Advertising: Discovering how to promote your products and services is not difficult and should end up being your primary daily function. Start Here
Lists: One of the best functions of your online business is the ability to build a data base of clients and prospects. Many of the businesses you have seen sold for millions of dollars have been purchased solely on the basis of their customer and prospect data bases. In this series we go through how you can do this. Start Here.
Support: Support is the key to customer satisfaction and can generate a lot of word of mouth sales. Most online businesses forget that even though we are on the Internet they still like to talk to a real person if there are problems. Start Here.
Duplicate and Expand: Once you have mastered your online business you can now expand into new markets. Start Here.
So before we start the tutorials you need to read this.
What will your website be about?.Watch this set of videos on research. if you didn’t do it before..You will find we concentrate on this a lot because by doing your research properly you can almost guarantee success. The late Gary Halbert used to tell a story about opening a hamburger stand. At his seminars he would ask the crowd this question:
“If you and I were both going to open a hamburger stand and you could pick any one thing to give you an advantage over me, what would you pick?” The people from the crowd would shout back: “A great location” “The best-tasting hamburger” “A clean, attractive stand” “Excellent employees” After a while of this Gary would pause and say: “Go right ahead and take all those, but I can guarantee my stand will outsell yours, because the one advantage I’m going to pick is… A STARVING CROWD!”
Who is your target audiencs?
What are you passionate about?
If your going to start this project a little bit of advice before we start.
Get involved with something you love to do.
When you do something you love it is amazing that success follows.
People are drawn to others who are doing things they love doing.
To avoid information overload: There are many things that will catch my eye, but there are only a few that catch my heart. It is those I consider to pursue.” QB Whether you are just starting or trying to improve what you already have basically you are looking for a niche where you can dominate.
Example traditional offline business success
John joined our program with the aim of selling his hand crafted furniture and creating a website for it. His furniture is beautiful and quite expensive. All built by hand with no nails and lovely wood. Rather than just put up a site with pictures we got him to document and photograph the building of each piece and put this in his site.
Easily done with wordpress. Evidently there are quite few people who build furniture like this but he niched his product and added value.
Outcome: He not only got traffic and sales but people wanted to get the posts about the building of it.
We sourced an online publisher where he could uplod the photos and also add the text and they send him a hard cover book for about $90. His customers love it so much and show their friends so now he is almost self sufficient from having to do any marketing at all.
What is a niche?
A niche market is a focused targetable portion (subset) of a market.
By definition, then, a business that focuses on a niche market is addressing a need for a product or service that is not being addressed by mainstream providers. A niche market may be thought of as a narrowly defined group of potential customers.
A distinct niche market usually evolves when a potential demand for a product or service is not met by any supply, or when a new demand arises due to changes in society, technology, or the general environment.
Niche market ventures may become profitable even though they are by nature small in comparison to the mainstream marketplace, due to the benefits of specialization and focus on small identifiable market segments; even without the benefit of economy of scale.
Niche markets may be ignored or discounted by large businesses due to what they consider to be small potential; this in turn is part of the process that makes the niche market available to smaller businesses. The key to capitalizing on a niche market is to find or develop a market niche that has customers who are accessible, that is growing fast enough, and that is not owned by one established vendor already.
Example: Health is not a niche!
Niche markets are usually defined by a phrase not a word. So a niche market of health might be “How to deal with Diabetes for school aged children”.
The key to any successful project is to develop a skill base to leverage off…… There are four types of people who are using our service.
1. The person who wants to set up their own online business
2. The already established business who wants to get online
3. The church, charity or organization that wants an online presence
4. An already establised website owner who is looking for better results.
No matter which category you fall into the basic principles will apply. We are going to attack it mainly from a business perspective and you can then apply the principles to your particular business.
Lets get started with the coaching and what You Will Need!
The very first thing you need is a plan! He who fails to Plan; Plans to fail 95% of people who start businesses online most fail for two main reason. 1. They do not focus and run from one thing to another and have no consistancy. 2. Because they are not investing much, except their time, they do not do their due diligence.
Get a good plan and you will already be ahead of the pack.
Before you get your website you should initially go to the whiteboard or a pad and ask some questions. Most people want to reach everyone, sell everything and be all things to all people. That’s a bad plan and never works.
Think about your target audience.
Who is the main person you will be focusing your efforts into reaching? So our main focus is business people and professionals. While this is our target audience we still get work at home mums, various organizations and other people outside our demographic but we write to target this audience.
Think about your own experiences. You go to your favorite search engine and type in your search term, and if your like me, you appreciate the sites that provide you with the information you are looking for. There are also a lot of junk sites. I want to help you build one of those good ones.
So here are the questions:
- Who is your target marketand age?
- What is your mission statment? One consise sentence.
- Why are they coming to your site?
- Where are they coming from?
- What is your call to action? ( Do you want them to purchase or be added to your data base for later contact)
Once you have answered these in a reasonable amount of detail you are ready to start. A couple of sentences on each will do. While you may target a white middle aged married man with 3 children working in a job it does not mean that other people will not buy your products or visit your site.
What it does mean is that your copy, graphics etc are all targeted and that your site is focused.
What Skills do you need to develop and we will help so don’t get to stressed about this?
- Develop content both text and graphics.
- Optional multimedia
- Some basic graphic skills
- How to research
- How to set up ways to collect money
- Manage customers and support
Once you have all the skills and mastered how to use them you can sell pretty well anything from affiliate products to houses. In this course we will go through it all step by step for you.
8 Steps to Creating a Simple Business Plan
Your business plan is like a road map to long-term success. Have you ever been in a situation where you didn’t have a map to find your destination and got lost wasting precious time and money. Well, the same can happen to your online venture if you don’t plan out your business strategies.
Why you need a business plan.
It gives you a clear direction where your business is heading. Many business owners just jump into creating a business without researching and making a concrete plan. Inevitably, they soon find that they are out of money and have no time or clear strategies how to market their business. Here are 8 simple steps to creating your own business plan:
1. Name of your business – create a name or re-evaluate the name of your business. Does it integrate well with what you are selling? Is it easy to spell and remember? Is it a name that can be well branded over time? Unless you have a lot of money try and make your name relevant to your product. You will get a lot more interest and not have to spend a fortune trying to brand yourself. Leave that for the big corporate companies.
2. Vision – what will your business look like 5 years from now? Think of how you may want to expand it to include other branches or extra employees. Here is mine:
The vision of MSincome is to provide products and training programs that can be used by orphans, young people, individuals and organizations to help them develop online and offline skills. As they develop these skills MSincome can then expand into new areas using feedback and joint venturing with these groups to expand into new niches and markets.
3. Mission statement – this defines what your business really does, what activities it performs and what is unique about it that stands out from your competitors. Here is mine:
MSincome is focused on helping people develop their skill base so they can achieve their maximum potential both financially, physically and emotionally.
4. Goals and objectives – clearly define what you want to achieve with your business. Make sure they are quantifiable and set to specific time lines. Set specific goals for each of your products or services. Here is two of mine:
Our goal is to sell 200 coaching programs this year. To train 10 orphans in Thailand and help them get a job. (we did 7 last year with our Intern program)
5. Strengths, weaknesses, opportunities, threats (SWOT) – by analyzing these characteristics in your business, you will get a clearer idea of what it will take for you to not only to survive but also prosper. This could include such factors as:
– your companies own changing industry – the marketplace which may change due to social and economic conditions. – competition which may create new threats and/or opportunities. – new technologies which may cause you to change products or the process in how you do things.
Evaluating your SWOT will help you to:
– build on your strengths – resolve your weaknesses – exploit opportunities – avoid threats
Doing this analysis will help you create a more realistic strategic action plan.
6. Strategic action plan – this is the most critical step of your business plan, because without it, your business will not get off the ground. This should include your sales and marketing strategies
Here is one of mine.
|1. Getting Customers||1.1 Advertising in local paper||1.1.1 aquire 6 new customers a week||Quentin||This will be accomplied when I have 6 sign ups a week|
7. Financial plan – a business can operate without budgets, but it is clearly good business practice to include it. With budgets, you will be more likely to achieve your business objectives, you will make more-reasoned decisions and you will have better control of your cash flow. For any period, a cash flow statement would include:
– The cash and credit sales (or accounts receivable) expected to be received during the period. – The anticipated cash payments (for example, expenses for purchases, salaries, utility charges, taxes, , hosting, office expenses etc.) – A description of other incoming and outgoing cash, with a calculation of the overall cash balance.
This will assess how much money is on hand to meet your financial obligations – what cash has been received and what has been paid out. Knowledge of this cash flow cycle will help you predict when you will receive funds and when you will be required to make a payment.
Your Unique Selling Proposition: Use it or lose it Sarah White
The concept of “USP” is credited to Rosser Reeves, chairman of the Ted Bates & Co. advertising agency in the 1950s. He was one of the first to develop a technique for communicating in an overcrowded marketplace. His definition of what makes a USP holds true today:
- All advertising must make a proposition to the customer: Buy this, and you will receive a specified benefit.
- The proposition must be unique; something competitors cannot claim, or have not chosen to emphasize in their promotions.
The proposition must be so compelling that it motivates individuals to act.
8. Measuring and evaluation – you wrote your business plan and set the goals with the intent of achieving them. So now break them down into measurable pieces and monitor the results regularly. A plan that cannot be measured is almost always destined for failure. Celebrate your wins and recharge yourself to accomplish your next goal.
Decision = Energy = Results Decide beforehand what constitutes a real serious loss and what loss will be acceptable. If you find your goals are unrealistic and unattainable, adjust them, but realize that it takes hard work to achieve them, so don’t give up easily.
Conclusion: Now that you have a business plan, make it a part of you by knowing and understanding it clearly. Build upon it continuously and refer to it often, so you remain on track and focused o building a profitable business. Listen to this more in depth talk on
Kick-start Your Own Business