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Internet Business – behind the scenes Part 2

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The most important part of any internet business (or ANY business actually) is probably the business plan. As a project management professional, having a proper plan can mean the difference between success or failure. As with all the web projects we take on at Ascend Marketing & Research, we have a plan to run by but we don’t normally bore our customers with these details.

However, if you’re thinking about starting your own internet business, you need a plan and I’ll share with you how I got started.

Planning an internet business

The first interesting question you should be asking yourself is:

Why do you want to start this business?

If your answer is “To earn money!” then you’ll be in for a big surprise.  Any business with the sole purpose to earn money will probably not last long because you can earn some money for a short period of time but you will be finding it hard to make this business sustainable!

The reason “Why” will set the core foundation of your business.  The book Start with Why by Simon Sinek will give you a good insight about why you should start with why. This forms your mission statement.  If your reason is “To provide for my family” then you will only find enough business to provide for your family.  To grow a big internet business empire, you’ll to find a big why.

After you’ve gotten the why, ask yourself what are you going to sell & how are you going to achieve it? The fastest way to start is by offering your services as a freelancer or part timer. What services can you offer? Well, start from your hobbies and passion.  Ask yourself what do you think you’re good at.

Here’s an easy to understand template that summarises this entire post to help you get started on your internet business planning.

Why – why start this business.  The stronger the “why” the higher chance of success.

What – What are you going to sell. Is it a product or service? Start with the things you’ve always been doing, is there anyone else you can think of that will be able to use your service? Have you been helping out others in a particular way for free?

How – Think about how are you going to let people know what you are selling. You can post your products on eBay, services on fiverr.com and elance or oDesk.  These are sites that allows people to post their services online.

When – Think of the timeline you need to prepare to get your first sale.

Example:

Day 1. Prepare some sales material that will tell people about my services.
Day 2 Sign up for eBay account and paypal account (you need a way to be paid right?)
Day 3 Get onto local and relevant forums

Finally you will need COMMITMENT without committing to the plan your internet business will surely fail.

Track your commitment

Keep a journal of what you did everyday for your internet business. I do this everyday to keep track of my progress.

You can keep it in a simple format like, What did you do? Did you achieve any goals? What are some emotions or thoughts that are stopping you from achieving your goals?

With this journal, you will be able to keep track of what you’ve done and why are you not reaching your goals.

Got tips to share? Let us know through the comments below!

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