The ONLY Correct Way to Start an Internet Business!

The MOST Common Online Business Startup Question

On a daily basis, I read, here, or discuss with someone, "why it is so difficult for a new online business to be successful."

Some state, "I'm interested in starting my own Internet business but unsure what direction to go in." And, the most puzzled of all, are experienced business persons attempting to take their existing successful business online, only to have it go nowhere. They ask, "So what resources would be able to help me make this decision?"

This is an easy question with a complex multifaceted answer. Most people want to remove the "Sinking Boat Effect" from their life. Imagine being in a small rowboat that is slowly sinking, and gradually filling up just a little faster than you can bail the water out. You see the "handwriting on the wall." You realize you may stay afloat until help arrives. You can see help off in the distance slowly rowing out to you, but you're not sure if you can stay afloat long enough to survive, and you're not too happy about swimming in the water with the circling sharks.

In other words, you need to learn how to remove the "overwhelming" and helpless effect a person faces when trying to start a new online business. You work intensely for awhile, the obstacles seem to mount up, then the question of "Why isn't it working?' comes up; then the,"What do I do next?" confusion and frustration overwhelms you. At least that's true for most people.

Obviously, in this brief article, we can't cover this point in detail. Hopefully, I can point you in the right direction. If you are new to business in general, you must learn basic business principles and procedures first. Learn them at the same time you are learning the Internet. This can be done with the right courses.

If you are an experienced business person attempting to position your business effectively online, you need to analyze what you did when you first started it offline. This may seem like an overly simplified answer, and actually it is. But we have to start somewhere. The real answer is; you must learn to do business on the Internet just as you would any other form of business, especially its unique aspects.

The confusion starts with how simple it seems to start an Internet business. It's true; it can be simpler and much less expensive to create an online business than a brick-and-mortar one. Most people think all you need is a company name, an effective website with the right bells and whistles, email, products, maybe a newsletter or Hotsheet, and you're in business.

Nothing could be further from the truth! Why? Because this isn't a business, it's just an assortment of online tools. The business part involves the marketing efforts, selling, and servicing customers after the sale is made and daily operational procedures exclusive to your business and online activity. Most people know that. So why the confusion here? The basic answer here; most people don't really understand the dynamics of online entrepreneurship.

The illusion created by having the website and related tools makes it appear you have a real business just waiting for someone to buy. If it were a brick-and-mortar retail business, you could have some walk-by or drive-by traffic, and in time referrals from satisfied customers. You would likely not have overwhelming competition in your immediate area, and could run some local advertising when needed.

What is different about the Internet? Answer this question successfully and you will be on your way to solving the online problem of confusion we referenced earlier. It is important to understand that it is a completely different animal than an offline business. It has many of the same characteristics as an offline business, but it is still dramatically different! People have different online buying patterns than offline.

Business etiquette is different online than off. Offline it is permissible to send unsolicited sales materials via postal service to the home. A mass mailing can often make it worth your while to do the campaign through generated sales. Some marketers purchase targeted mailing list that are often quite effective. It depends on variables specific to your business such as; are your customers local, regional, national, or international?

You can lose your access provider if you send unsolicited commercial sales messages through email. You must learn to develop opt-in (people subscribe to) mailing list that gives you permission to email people interested in your offering. This takes a special program and methods unique to the Internet to accomplish this project successfully. Do you know how to build an opt-in mailing list?

Everything online is virtual. Webster's dictionary says virtual means "Computer Science. Created, simulated, or carried on by means of a computer or computer network: virtual conversations in a chatroom."

You don't have people walking or driving by your website. The amount of people online is staggering, in the hundreds of millions, and growing everyday. It has become the largest market in the world; yet most online businesses get little or none of the virtual traffic. Only those knowledgeable in the Internet business dynamics will succeed. Since the Internet is a virtual business, we must learn to attract virtual traffic and learn their online buying habits. Do you understand the process of how to do this?

Branding is of paramount importance in any business, online or offline. Putting customers in their comfort zone is an art form in any business, physical or virtual, and the rules required to do so are different for online businesses. Do you know them and what to do?

Please understand, I am not attempting to be insulting to you here or assert you are unintelligent. I am using this questioning approach to dramatize the important differences of doing business online. To paint a virtual image in your mind to help clarify this point.

So what is the basic answer to creating a successful online business? ACCURATE KNOWLEDGE specific to the Internets business dynamics! Where do you get this knowledge? Research and read. How do you find the best and accurate knowledge? If you are reading this article, you are already on the right path. The newsletter or article directory you found this article on will have other specific information relative to your needs.

You will need to learn what other successful Internet businesses are doing to be successful. These case histories will reveal insider information that can put you on the right road. How do you overcome the vast amount of hype online, to find the few pearls of business wisdom? For one, use you common sense. If it sounds too good to be true it it's not true! Also, visit business forums and learn who are helping others solve their business problems. Search out expert authors' renown for their expertise, and research their works. The same as required of you to setup any type of business.

Is there just one super course you can take that will have everything you need? Unfortunately, NO! There is one outstanding course available for everyone wanting to setup a business online the right way. There are a couple of courses on eBay marketing, written by those making millions annually.

There is only one course that stands out above all others if your plan is to develop a new product, manufacture it, and market it nationally or internationally. There is software and online services that can totally automate your website business for little cost. There is one website you can utilize free, if you need experienced consultants for website building, writing reports, sales letters, and marketing materials. And they charge about 10 cents on the dollar compared to many consultants.

If you are starting a new business, do you just take one class in college or read just one book on a single subject, accounting for example? Certainly not! You take different classes and read multiple books, each written by a specialist in that specific subject. Learning the Internet is the same as learning any other business. Don't believe the so called "Guru's" when they state their course is all you will need. You need to be directed to the right and best business information and resources.

Internet marketers are NOT necessarily scholars. Some write very simple without much style or pizzazz. But, if they are making a bundle online, others are emulating their systems and programs, follow their lead. They are doing it. That's the best testimonial.

These are some of the things you need to know to setup and operate an online business. You must learn it as any other business venture. Is it difficult to learn or must you be a techie to succeed? Absolutely not!

How do you learn to go to the next level now? Visit my website listed in the signature box below and immediately download the free special report; "The ONLY Correct Way to Start an Internet Business!"

P.S. Don't "Kill the Turtle" in your business. If you don't know the meaning of this statement, the free special report will explain this important principle to you.

Websites

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Email - stanford@stanfordtc.com

The mavericktips.com website is a source of free information, and affordable resources specifically for the home business entrepreneur.

Maverick Tips is a weekly support newsletter for the TV Show "The Maverick Entrepreneur," Hosted by "Maverick" (aka Bob Dean Stanford), targeting home businesses and aspiring entrepreneurs.

It presents cutting edge, state of the art small business marketing tips, insider information, quality low cost solutions and resources. The newsletter is entertaining, educational, and uniquely informative presenting many "Tricks of the Trade."

Does Your On-Line Business Need An Internet Business Plan?

Just because you are starting a business or have a business doesn't mean you need a traditional business plan. The nature of your business and how you intend to use the plan determines whether you need a business a plan or not and the type of plan that is right for you.

Traditional business plans are critical to off-line businesses...

Off-line businesses usually require large amounts of cash. These cash requirements, if left unchecked, can drain or kill an off-line business before it even has the chance to gain traction. Traditional business plans are also easier to compile for off-line businesses because, unlike on-line businesses, off-line businesses tend to operate in more predictable business environments, which provide a basis on which to build projections.

To raise capital and manage the cash needed to run off-line businesses, owners often rely on elaborate business plans. More important, the people providing the cash to run off-line businesses use these plans to see how off-line businesses are going to use the cash and as a way to track its actual usage. That's why traditional business plans include very detailed financial plans.

But, the Net's environment is much different

Like most small business people's lives, the Web changes very fast. This makes it difficult to project the future of an Internet based business.

Fortunately, the typical Internet business does not require large amounts of cash to maintain or operate. In fact, today, some service providers go beyond just providing you with disk space to park a Web site to providing you with all the tools to build a complete Web Business for just under $25 a month...something off-line businesses can only dream about.

With such low overhead and cash requirements, preparing a "formal business plan" with thirty-six months of projected income statements, balance sheets, and so on is a complete waste of time for most on-line businesses, unless of course you need to raise capital.

"So, I don't need a business plan for my Internet business?"

That's not what I'm saying.

You absolutely must have a plan.

You just don't need a traditional business plan.

In fact, how you write your Internet business plan, what you include in it, even how you package and present it will be much different than a business plan for an off-line business.

Sure, you still need to understand what it will take to start-up and operate your on-line business. For example, how much will you pay for computer software and hardware? What about monthly hosting fees? How about separate auto-responder and keyword services? If you want to make money, you have to understand your numbers.

But, instead of trying to project these numbers ahead thirty-six months, look out the next 12 months. That's about all that's necessary for an Internet business plan - and, given how quickly things change on the Net, you are doing well just getting this done.

Avoid getting tied up with elaborate spreadsheets and full-blown business plans.

Elaborate spreadsheets and full-blown business plans are great for managing large companies or raising money, but they can easily become major distractions...preventing you from doing the action items that move your business from idea to reality to ringing the cash register.

The truth is: it's difficult for on-line businesses to predict the exact time their businesses will generate revenues. On-line business owners often have to be willing to sacrifice some early traffic to build inbound links. So, in the early stages, an Internet business plan must focus on laying out the necessary actions that build content for the site and eventually drive traffic to it.

Focus on actions and milestones...

As a result, your Internet business plan needs to center more on actions and milestones rather than financial statements.

For starters, you'll need to find a niche that you know and love, identify profitable topics within that niche, and then layout the "Content blueprint" for your site, including your perfect domain name.

A compelling Internet business plan spells out the key actions that will build targeted TRAFFIC by delivering excellent CONTENT that is related to the theme of your site. This Content must attract free Traffic through the Search Engines, targeted visitors who become PRE-sold about you and your business (i.e., become warm, motivated visitors due to your excellent Content), and who then generate income for you through a variety of Monetization models (ex., they buy your products or services, click on your Google ads, generate finder's fees, click on affiliate links, etc.).

If your Internet business plan successfully does this...

You will emerge with a business that is right for you...highly profitable, sustainable, and pleasing to you in every way.

Mike Elia is a chief financial officer and an advisor to venture capitalists and leverage buyout specialists. His business plan ebook "Business Plan Secrets Revealed" shows how to make your business the most appealing investment choice to venture capitalist, bankers, and other business investors. Visit his website at http://www.business-plan-secrets-revealed.com for a free business plan guide or more information about writing effective business plans and attracting investors.