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online venture blueprint

by cashcentral
3 replies
Picture this: there is a worldwide economical crisis and you lose your fulltime job.
You decide starting an online business.
You have no network, no list and are struggling to pay the bills.
You have no experience in online marketing but have only enough money in the bank to stay unemployed for 9 months.....

what are the steps you follow (in order) to generate full-time online income.
Summarize the steps; try to keep it to a minimum number of steps preferably between 4-8 steps.

let me start with how i would go about it:
1 niche selection
2 keyword research
3 product selection
4 designing and building a subscriber website (i don't like blogging)
5 marketing

as an alternative if you are starting your own online venture state what you would be researching and typing in google.

I really hope to get some reactions.

Many thanks in advance.
#blueprint #online #venture
  • Profile picture of the author Daniel Deegan
    One of the problems with following a blueprint is finding the right blueprint to begin with. The first thing I would do is get a really clear picture of what my goals are.

    The next thing I would do is ask my self the following question...

    What experience, knowledge or resources could I leverage to provide value to others?

    Once I know what my goals are and the value I can give or create for others, I would spend time researching business or individuals who are currently doing what I am interested in doing and who are successful. I would learn as much as I can about their business model and all its moving parts. At this point I'm just looking to create a high level blueprint with a top down view.

    I would break up their model into its core elements using the business model canvas as outlined in the business model generation handbook. Those parts being...

    1.Key partners
    2.Key activities
    3.Key resources
    4.Value proposition
    5.Cost structure
    6.Customer relationship
    7.Channels
    8.Revenue streams
    9.Customer segments.

    From their I might look for gaps in the market from the existing competition. Next I would try to work out some baseline starting metrics for what I want to accomplish initially.

    Lets say $100 in profit per day. I would then figure out how many customers it would take given my price point or commission if I got a standard 1% conversion rate. I'd then look even MORE closely at the what and how of the competition. At this point I start formulating a strategy and plan for entering the market & exploiting any obvious gaps.
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    • Profile picture of the author James Vang
      I know I tend to talk a lot about selling a service since that's how I started out but it really does work. Also I didn't have enough money saved up for 9 months when I quit my day job, I only had enough for 1 so it was do or die.

      Here is a simplified version of what I did to go IM full-time.

      1. List your goals and set a deadline. Clear goals and a solid deadline will make you work harder, espeically if it is something like "make enough money to pay the rent by the end of the month."

      2. Take an inventory of of your skills. What are you good at? What is your most valuable skill, the one you can charge people the most for?

      2a. If you don't have a skill brainstorm all the lucrative skills you can think of that you can learn in a very short amount of time. Creating Wordpress sites, building html mini sites, creating banner ads, writing generic web content. These are all good choices that can be learned very quickly if you do your research and apply yourself.

      3. Once you figure out what your most lucrative skill is or master (more or less) a lucrative skill brainstorm on where you can market it. The examples I gave in the last step can be marketed very effectively in the Warriors for Hire section or on sites like Guru, Elance, Odesk and others.

      4. Once you have your skill and know where you're going to market it, it's time to go full-steam-ahead. Learn some basic copywriting techniques and create a compelling sales letter if you need to.

      If you're going to be applying for jobs like on Odesk basic copywriting will also come in handy. Even a basic knowledge of how to get people to act is much more effective than none at all.

      5. Don't just wait for clients to approach you, aggressively market your service. If you're selling on the Warrior Forum put a link in your sig and make yourself useful around the forum.

      If you're selling your service on Fiverr do some social media posting, article marketing or even create a Facebook page that can drive traffic back to your listing.

      Get creative and get as many eyes on your listing wherever it may be.

      6. Networking. Your clients are more than just money in your bank account. Be sure to ask them for referrals, testimonials and be on the lookout for any other networking possibilities. You never know when someone will come in handy so stay connected.
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  • Profile picture of the author cashcentral
    Thank You Guys!
    You are too kind to write such an extensive post about how you started your online business(es) or what model you would use. I really appreciate this very much.
    This is exactly the kind of advice i was hoping for, i hope more posts will follow!
    Not only is this the kind of information i was hoping for, it is also very motivating.
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    Step-by-Step blueprint to start your own online business

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