Newbies, you should do a business plan before starting online

by alex84 7 replies
With all the possible ways to make money online, it is easy to go from one method to another. If you want to be successful online, you need to view it as a business. What do people do before opening an offline business? They make a business plan of course, and it shouldn't be any different because your online. So here is an example of a quick business plan I could do before trying to set up an online business.

First, you should think about your skills, and also what you like. Let's say writing is something you like and can do, you then decide to make a ghostwriting business. So now you need to make a little plan with objectives for the first week, then the second and after that.

So let's say you give yourself 2 weeks to start getting some customers and some feedback. You would join all the sites such as Elance and bid on projects. Get as many as possible, start to bid lower to get more customers and feedback.

Once that is done, for week 3 you could give yourself the goal of creating a small 1 page site where you give your details and put the feedback on it.

Now that your starting to have a reputation, you can start to scale it up, maybe make a WSO to get more clients, start charging more per articles, make some promotion to your site via articles, this is where you need to know exactly how you will scale it up, you need to have a system for scaling it up to make it work well.

So this is a small plan for the first month, but you should go beyond that, because well, you will just scale it up without having a smart system set in place. You need to think long term for your business, so you could decide that once you start having enough clients, then you can start to find your own team to outsource. If you charge 10$ per article and find a team that can do it for 4$, you get 6$ of profit per article. Once you have the right team, then you won't need to do much work anymore, if you know they make quality articles for you, you don't need to spend that much time to make sure the articles are good.

Once that is set, you just have to scale it up as much as you want, you can start incorporating other services later, and giving that work for your team, but it should all be planned.

Of course what I just gave you doesn't go that much in details, that would be for you to fill, but I just did that in 15 min, if you take an hour or two, you can set up a much more detailed plan.

Also this is a suggestion, but ghostwriting is a very good business model when you first want to work online. You learn a lot of things, how to promote a service, how to make a small webpage, how to manage a team, how to make some WSO. If you get to the point that you outsource pretty much everything from your clients, then you can easily take that money for other projects, while making some good money at the same time.

You can start to build a list, create some ebooks, it's up to you, but again, you should make a business plan. I seriously believe that the business plan is the most important thing to succeed online or offline, as with taking action.

So I hope you will learn some valuable stuff from this post, and if your not sure what kind of business to start out with, well why not give ghostwriting a shot, I already laid out a plan for you
#main internet marketing discussion forum #business #newbies #online #plan #starting
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  • Profile picture of the author JonnyAndrews
    Indeed! This is great info and very true for anyone who is looking to really kill it in this market. Obviously I can only speak from experience... but NOT having at least some sort of plan will really hurt your chances of making it.

    Trust me on this one... before I began writing it all out I had very little succeed.

    Doing what the good Dr. Alex84 says will get your head in the game, but more importantly it'll help you overcome info overload. If you don't have a plan the likelihood you'll keep buying and "researching" and never actually get going is about 100% guaranteed.

    With a plan you now have the ability to say "can't go that road right now... it's not part of my plan". (Just make sure you are paying attention to what works so you can make necessary adjustments down the road)

    This level of organization will not only save you time and money... it'll speed your success.
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    • Profile picture of the author David Raybould
      Hey guys,

      I know people SHOULD have a business plan, but I know when I was first starting out, one of the main problems was not having enough knowledge to know what should go in a business plan.

      I mean I know now, and I have plans and charts and speadsheets coming out my ears, but to begin with, I had no clue. Each day was a complete learning experience.

      Still, a plan will make you make money, so if you are new and starting out, get some knowledge, and do like the guys say and make a plan.

      Oh and one last thing....

      Once you have a plan, stick to it like glue. Ignore the distractions and don't ever set foot in the WSO forum lol.

      Hope that's useful. Nice post Dr Alex

      Killer Emails. Cash-spewing VSLs. Turbocharged Landing Pages.

      Whatever you need, my high converting copy puts more money in your pocket. PM for details. 10 years experience and 9 figure revenues.
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  • Profile picture of the author Brad Spencer
    Hey Alex,

    For starters, cheers on getting a good piece of advice out there. A business plan is a must. There are a million models online and having one that suits your skills/desires/goals is of the utmost importance.

    However, I must take a bit of a contrary perspective on your suggestion of the freelancing model. The problem I see with this (and of course, I'm biased b/c I don't like freelancing to that is my disclosure) is that how can a person write articles for others w/o having tested what works, doesn't, and the best place to put certain articles. For example, there are keyword density issues. How many newbies know about keyword density? I'm sure if a newbie is reading this, they probably don't have any idea what I'm saying.

    For someone to charge 10$ per article, you need to be a good and effective writer who can write articles that convert. This is a must. A 3$ article writer might not be as good (b/c if they are...why aren't they charging more?) and could probably get away with this.

    You're on the right track with outsourcing but again, if you can't do it well can you tell others what you want for 3$ an charge 10$ and make the spread.

    EVENTUALLY, your model could work for someone. However, I doubt (but I could be wrong) that someone would be ready to build an outsourcing team after 1 month working an article freelancing biz.

    Now, I do appreciate your post. The point of having a system is CRITICAL.

    IMO, a list is the most valuable thing a new person can develop. It doesn't take long if people recognize you as a quality-driven person in the niche you work in.

    Overall, good post, however, I think you should add more about building a team b/c this model requires great knowledge on team dynamics, finding great outsourcers, and managing tons of deadlines.


    Brad Spencer
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    • Profile picture of the author alex84
      Lol Dr. Alex, not sure I qualify for that title, but anyways for sure that building a team can be a hard task, but it also depends on how much you know before you start. If you know nothing about online marketing, but you want to go the ghostwriting way, you could decide to take a little while to read as much info about it. A business plan is exactly that, getting all the information possible on the business you want to do, so there is more chance to succeed.

      Also it will depend with everyone, I caught pretty quick how to write articles that convert well, so again, some might need more time than others, I was just giving a timeline like that as an example. Nobody should follow my plan to the letter, it is just a sketch of something that would work if you put the effort. What is important is to take your time to do everything well and stick to the plan. It doesn't matter if it takes a week or 2 weeks longer to get to the next step if it means that you will do it well.
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  • Profile picture of the author TheVCF
    Fellow Warriors,

    I would recommend RE: Business Plans that you also check out all the Excellent information Dee Power of Post in the former WF thread at:

    The Warrior Forum - Business Financing?

    The FREE eBook, Templates and Daily Tips regarding Business Plans that she / capital-connection offers there are Great! and Very Helpful!

    I hope this all helps you too! and Have a Great Day!

    - Michael
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    • I can't help but wonder how many of those who need a business plan ignore posts like this. You know, having to slog through a long, boring amount of text you have to read and comprehend.

      Clearly, those who are willing to READ FOR CONTENT will get a lot out of this. The impatient, those with a disorder that prevents them from focusing for more than a few seconds and the quick-buck artists will never benefit from this advice.

      I also like that this was presented in a way that commands attention from a serious reader, rather than being broken up with:
      • Bullet Points
      • Graphics
      • Bolded Text
      • Other Crap
      Now, scroll back up and read the Original Post word-for-word. That's your first test of your commitment to your future...
      "The will to prepare to win is more important than the will to win." -- misquoting Coach Vince Lombardi
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