Online Business Plan – Lesson 1 for Online Business Entrepreneurs

Starting up an online business is very easy to do: all you need is a domain name, hosting, a webdesign or a WordPress blog, an autoresponder and some cash for advertising.

The topic or niche you choose depends on your passion that you would like to share with the world. As soon as you chose your niche for your online business, you need to decide which one of the many available business models – and there are as many models around as Internet & Affiliate Marketers you would like to use.

This initial challenge will keep you busy for quite some time – I even dare to say that your first 6 to 9 months will belong to this first phase of your online business plan. And you have to consider this learning phase in your plan.

The next phase will be to focus on creating good and valuable content. Content is everything you leave on the Internet. It ranges from blog posts to tweets, shares, articles and products. During your second phase you should endeavor to find your own little spot within your chosen niche. Just imagine that you should develop yourself into the Go-To-Guy (or Girl) for 1 particular question within your topic.

The third phase will actually be already part of running your online business. So your Business Plan for your online adventure is divided into 3 parts:

  1. Choose niche and initial set up plus learning the rules of Internet Marketing
  2. Create good and valuable content and share it around
  3. find your final place within your Niche and establish yourself as the Go-To-Person.

In contrast to Business Plans for brick-and-mortar businesses, the plan for your online business is slightly different. You don’t have to define your 5 year strategy, don’t define your business processes and all the human-, technical- and product development resources you will need.

You could define all this right from the start but I dare say that this procedure would be a complete overkill for your online business idea and robbed you right away of your motivation that you will need for your first 6 to 9 months.

Instead of writing a ‘commonly known’ business plan for your online business, choose to focus on planning your marketing campaigns: Return on Investments and Break-Even Calculations are your focal points of interest while running your Online Business.

Planning your Online Journey this way allows you to stay flexible to different ways of doing business online, but creates a stable management tool to secure your financial success.

Learning to Become a Home Business Entrepreneur

In my previous blog I mentioned what personal traits are required to consider starting a home based business opportunity i.e. to be an entrepreneur. But what about skills and knowledge, what do entrepreneurs learn and where do they learn it? Maybe if I describe my day, it might shed some light on the matter.

Today I had a noon appointment at a Starbucks located in a Chapters book store. My good friend Brian called yesterday to make the appointment. Brian likes to meet because he looks to network with like minded individuals. As I wrote in a previous article, entrepreneurs, network marketers and the likes, pay particular attention to what they feed their minds and the thoughts they entertain. Accordingly, they will also surround themselves with people that have empowering mindsets so they can maintain theirs and also give it an opportunity to expand.

Brian and I shared views on personal development strategies, what we have found to be beneficial, what we are currently taking part in as well as what we contemplate doing next. Whether the topic was on multiple streams of income or the resources we can invest in to develop ourselves, our thought processes were focused on empowerment rather than the constant negative topics provided by mainstream medias. Politics, sports or economics did not enter our topics of discussion although they are often what people talk about when they go for coffee.

After a pastry and our caffeine fix (nobody’s perfect) we proceeded to replenish our personal development library by browsing the business, network marketing and self help section of the book store. We made our purchases and went on our way with a satisfied tummy and a fed mind.

If you are a home business opportunity seeker, I’m sure you will appreciate the prospect of designing your own schedule to have the freedom of making appointments such as the one I enjoyed today, however do keep in mind that entrepreneurial life style always takes into account a steady feed of personal growth which is at the basis of business development.

So what do entrepreneurs do for learning the skills and knowledge they need for personal and business growth? They choose what they feed their minds and choose who they network with to promote empowering thought processes. If you’re not too sure what to feed your mind, have a look at our resources page or the self help and business section of your favorite book store to see if anything resonates with you.

So let me ask you this: the next time you go for coffee, who is it going to be with, what will you talk about or… what book are you going to bring? Do let me know!

Decoding the Traits of A Successful Online Business Entrepreneur

“Many of life’s failures are men who did not realize how close they were when they gave up.” – Thomas Edison

Are some people just born to become successful entrepreneurs? Is success something that some lucky people achieve easily? You may sometimes wonder why some people seem to have all the luck in the world and become instantly successful in their internet business. Success may seem like its been given to them on a golden platter but in reality all online business success stories started with a formula. Let me share with you some common characteristics of successful online business owners.

  • They have the right attitude. Successful online entrepreneurs have a positive mindset. They are optimistic about the future of their business and are willing to take risks in order to succeed.
  • Successful entrepreneurs embrace failure. They are neither overwhelmed nor discouraged by failures. They see failures as opportunities to grow.
  • Successful online entrepreneurs are focused to their goal and that is to succeed!
  • Successful online entrepreneurs are innovative. They are always passionate about making a difference and establishing their uniqueness over competition.
  • Successful online entrepreneurs understand that great things can come from small beginnings. They do not worry about being a new player in the market and accept challenges as they come.
  • Successful online entrepreneurs put their best foot forward. They always give their best to all aspects of their online business and devote time and effort in ensuring their internet marketing success.

Developing a business requires a certain degree of risk. Succeeding in an online business takes time and some small failures at times. A positive mindset can make a lot of difference in ensuring your success in your online business. Failing or succeeding in an online business is not a consequence but a decision. Decide to be successful!

When The Power Goes Out – Business Entrepreneurs Can’t Give In

During Super Bowl 47 something rather unexpected happened, the power went out during the second half. Well, half the stadium’s power went out that is, and yet, the show must go on. The game was delayed 35-minutes, the problem was fixed and the game continued, after all, it was the Super Bowl, and after a long fought season, that game had to be played. Some would say that the chances of that happening, the power going out, is next to impossible. Well, if you know anything about New Orleans, you should be too awfully surprised, I wasn’t.

Now then, let’s talk about this and how things like this happen to us all in the real world. For instance, let’s say you run a business; what do you do when things go wrong, do you immediately look for blame, huddle the team, work on the crisis, or search of opportunity in the process. How about all those things simultaneously? Interestingly enough, the San Francisco 49s had their power off so their Telex Headsets were not working, they should have huddled the team and strategized or had another half-time locker room type talk.

That’s what the Baltimore Ravens did, but let me ask you something, what would you have done in the those darkest minutes? As an entrepreneur or business leader you cannot give in or give up, you must continually perform, and be up for the challenge. Whatever it takes is what you should be doing and in any crisis you ought to look for opportunities to help your team win. If you fail to seize on such opportunities you are losing a precious resource, not only of time, but of people power too.

Speaking of power in your company, do you have a solid plan if the power goes out, the phone lines go down, your IT system fails, the Internet stops working, or some outside catastrophe prevents you from shipping or receiving products or supplies? You should have a game plan for that, and any other serious contingency. When the World Trade Center Twin Towers were under attack on September 11, 2001 one company got everyone out safely and without further incident; Oppenheimer Investment Funds. Why you ask, well, because they had a plan.

You see when the first attacks hit the Trade Tower building back many years before in the parking structure, they developed a plan. They ran that plan, that day, and they also had a secondary location ready to continue business. Can you say the same? Do you have a plan in case the power goes out in the middle of your game? Please consider all this and think on it.