How to Begin Building Your Internet Business Plan
Posted 18th March 2011 at 08:31 PM by wallytr1
(*Although I wrote this as a response to another member's question, I thought this would make a good post for anyone that is interested in business plan basics. 
)
My name is Tim R Walls. I worked in business banking for almost twenty years before I decided I had had enough and wanted to be a full time internet marketer.
The biggest problem I ever faced in dealing with offline business people across the U.S. was the high percentage of business people who didn't have a clue as to how to construct a business plan, were then deep in debt at the time of contact with them, but wanted the bank to bail them out of their messes.
Unfortunately for them, bank funding in 99% of cases I dealt with would have only made their situation worse, not better.
Many, if not most online marketers do the same thing. When you build a web page, a blog, a squeeze page, engage in affiliate marketing or email marketing with the intent to make money, you are building an online business, which has a business system of operation, but typically with no captain at the helm of the ship.
That is a partial explanation for why as much as 97% of online marketers fail in their business monetization model. They have no business plan, because it is one of those nebulous things that the average person can easily complicate beyond comprehension before it would ever occur to him that he is already operating with a business plan that has no definition.
All he needs to do is to define it by giving it the form and shape of a nameable and visually achievable goal.
Without a primary goal, the ship is rudderless and moves out control in circles. It has no destination because it has no captain to steer it toward a destination port.
Here are some questions to ask yourself prior to deciding what your primary goal is:
1. Why am I building a ______ (web page, blog, etc.) online?
2. Is my purpose to engage in online marketing?
3. Is it just to entertain myself and others?
4. If my purpose is to make money, how much money do I desire to earn in the next 12 months?
5. What are the top 10 reasons I want, need, or desire to make money on the internet? (Usually, the reasons closest to the bottom of your list are the deeper ones that have the most meaning and purpose to you. These are the money magnet reasons that will pull you toward your monetary goal.)
6. What number between one and 10 would I assign to money itself, on that list?
7. Out of these top 10 reasons to make money online, what is the number one reason for starting an online business (from your list)?
8. What is the amount of money I want, need or desire to make?
9. What would I spend this money on? (family needs, a better car, a bigger house, pay off bills, pay off college loans, funding for college, travel, investments, etc.)
10. Until you can answer these questions your online efforts to make money are a "shot in the dark," "hit and miss," a rudderless ship that has no captain to steer it to its intended destination.
Once you have answered these basic questions, you have all of the beginning data you need to start constructing a business plan.
The next basic step is to aim at that primary goal like you would aim at the bulls eye on a dart board. The more you practice at hitting that bulls eye dead on the more times you will win in the competition, even if that competition is only with yourself.
Once you have settled on the monetary goal as an achievable number in your mind, the next step is to break it down into smaller steps, which eventually deescalate to the level of the steps required to construct an online virtual business machine, around your business plan.
As an example, let's say that you need to earn a modest $35,000.00 in extra income in the next twelve months. The reasons you want to earn this amount is to
1) help fund your college tuition,
2) buy a late model car that is more reliable to get back and fort to campus,
3) related and living expenses for the coming year,
4) and go travel across Europe for three months to gather data for a thesis.
These are all honorable goals. The first thing you have to do is break your primary goal into smaller and more achievable smaller goals, so that your mind can more readily absorb the concepts as "achievable."
$35,000 divided by 12 months is $2,917.00 per month. Take that amount and further divide it by 4 weeks to get a figure of $729 per week. Next, divide that amount by 7 days in a week to arrive at a figure of $104.00 per day. The most important fundamental question you have to answer, now, is:
* How many hours per day do I have free and am willing to dedicate myself to building an online marketing business and earn that average of $104.00 per day? Once you have answered that question then you will know what the dollar value of your time is worth.
If you only have 4 hours a day that you can dedicate to growing your online business then your time is worth $26.00 per hour, as an example.
Once you have determined this, you are ready to start constructing a marketing plan of daily actionable steps, Your Action Plan, the steps you will take every day to realize your goal at the end of the next 12 months.
So how will you achieve it?
If your intent is to build a blog and monetize it, have you investigated how long the average webmaster and the blog itself requires on average to build enough credibility with visitors to convert visitors into a potential customer list? Then subsequently convert those potential customers into buying customers?
The fact is it may take a lot longer to reach your 12 months goal this way.
Is there a more direct route?
There a many online business models. In one way or another they are all virtual machines. Almost invariably these virtual machines for conducting an online marketing system involve a web page or blog, a squeeze page and an autoresponder.
The fact that you are a member of the Warrior Forum means you have the possiblity of the simplest and most direct routes to earning that $35,000, or even surpassing it, within the next twelve months. It is called the WSO or Warrior Special Offer.
By learning the basics of joint venturing with other marketers in the Warrior Forum, you have at your fingertips, but not in your hand, yet, the means to launch your internet marketing business at a far greater level of potential success than by any other means.
Again, I hope this helps to clarify the track you are already on...just like me. :-)
Tim R Walls
)My name is Tim R Walls. I worked in business banking for almost twenty years before I decided I had had enough and wanted to be a full time internet marketer.
The biggest problem I ever faced in dealing with offline business people across the U.S. was the high percentage of business people who didn't have a clue as to how to construct a business plan, were then deep in debt at the time of contact with them, but wanted the bank to bail them out of their messes.
Unfortunately for them, bank funding in 99% of cases I dealt with would have only made their situation worse, not better.
Many, if not most online marketers do the same thing. When you build a web page, a blog, a squeeze page, engage in affiliate marketing or email marketing with the intent to make money, you are building an online business, which has a business system of operation, but typically with no captain at the helm of the ship.
That is a partial explanation for why as much as 97% of online marketers fail in their business monetization model. They have no business plan, because it is one of those nebulous things that the average person can easily complicate beyond comprehension before it would ever occur to him that he is already operating with a business plan that has no definition.
All he needs to do is to define it by giving it the form and shape of a nameable and visually achievable goal.
Without a primary goal, the ship is rudderless and moves out control in circles. It has no destination because it has no captain to steer it toward a destination port.
Here are some questions to ask yourself prior to deciding what your primary goal is:
1. Why am I building a ______ (web page, blog, etc.) online?
2. Is my purpose to engage in online marketing?
3. Is it just to entertain myself and others?
4. If my purpose is to make money, how much money do I desire to earn in the next 12 months?
5. What are the top 10 reasons I want, need, or desire to make money on the internet? (Usually, the reasons closest to the bottom of your list are the deeper ones that have the most meaning and purpose to you. These are the money magnet reasons that will pull you toward your monetary goal.)
6. What number between one and 10 would I assign to money itself, on that list?
7. Out of these top 10 reasons to make money online, what is the number one reason for starting an online business (from your list)?
8. What is the amount of money I want, need or desire to make?
9. What would I spend this money on? (family needs, a better car, a bigger house, pay off bills, pay off college loans, funding for college, travel, investments, etc.)
10. Until you can answer these questions your online efforts to make money are a "shot in the dark," "hit and miss," a rudderless ship that has no captain to steer it to its intended destination.
Once you have answered these basic questions, you have all of the beginning data you need to start constructing a business plan.
The next basic step is to aim at that primary goal like you would aim at the bulls eye on a dart board. The more you practice at hitting that bulls eye dead on the more times you will win in the competition, even if that competition is only with yourself.
Once you have settled on the monetary goal as an achievable number in your mind, the next step is to break it down into smaller steps, which eventually deescalate to the level of the steps required to construct an online virtual business machine, around your business plan.
As an example, let's say that you need to earn a modest $35,000.00 in extra income in the next twelve months. The reasons you want to earn this amount is to
1) help fund your college tuition,
2) buy a late model car that is more reliable to get back and fort to campus,
3) related and living expenses for the coming year,
4) and go travel across Europe for three months to gather data for a thesis.
These are all honorable goals. The first thing you have to do is break your primary goal into smaller and more achievable smaller goals, so that your mind can more readily absorb the concepts as "achievable."
$35,000 divided by 12 months is $2,917.00 per month. Take that amount and further divide it by 4 weeks to get a figure of $729 per week. Next, divide that amount by 7 days in a week to arrive at a figure of $104.00 per day. The most important fundamental question you have to answer, now, is:
* How many hours per day do I have free and am willing to dedicate myself to building an online marketing business and earn that average of $104.00 per day? Once you have answered that question then you will know what the dollar value of your time is worth.
If you only have 4 hours a day that you can dedicate to growing your online business then your time is worth $26.00 per hour, as an example.
Once you have determined this, you are ready to start constructing a marketing plan of daily actionable steps, Your Action Plan, the steps you will take every day to realize your goal at the end of the next 12 months.
So how will you achieve it?
If your intent is to build a blog and monetize it, have you investigated how long the average webmaster and the blog itself requires on average to build enough credibility with visitors to convert visitors into a potential customer list? Then subsequently convert those potential customers into buying customers?
The fact is it may take a lot longer to reach your 12 months goal this way.
Is there a more direct route?
There a many online business models. In one way or another they are all virtual machines. Almost invariably these virtual machines for conducting an online marketing system involve a web page or blog, a squeeze page and an autoresponder.
The fact that you are a member of the Warrior Forum means you have the possiblity of the simplest and most direct routes to earning that $35,000, or even surpassing it, within the next twelve months. It is called the WSO or Warrior Special Offer.
By learning the basics of joint venturing with other marketers in the Warrior Forum, you have at your fingertips, but not in your hand, yet, the means to launch your internet marketing business at a far greater level of potential success than by any other means.
Again, I hope this helps to clarify the track you are already on...just like me. :-)
Tim R Walls
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