The Sleepy Surfer

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photo credit: Alex Osterwalder

They say everyone can start an online business. Even the guy next door (if you have neighbors ). Whatever we do, it is important to have a good business plan. It should show who the target audience is, and just how the product or service that is being provided will meet or exceed their needs and expectations.

When organizing a business plan it is best if you break it down into sections such as:-

1.    Business summary – The product or service you want to provide.

2.    Market analysis – Research on the product or service and how the competitors are doing.

3.    Product positioning – How to make it more prominent compared to your competitors.

4.    Market strategy – How are you actually going to market it?

5.    Customer analysis – Look at what the customer wants or needs.

6.    Financial analysis – What you need to invest in order to set up the business and to keep it going while it is just getting started.

7.    Overall business goals – What you hope to achieve in, say, a year’s time.

Once a business plan has been developed, it should not lay in the back of a drawer somewhere.  It should be a working plan that you can refer to when you need to. The best way to make a business plan is to keep it simple (one or two pages should be all you need). Certainly one of the best things you can do when starting an online business is to create a plan then stick with it.

You may find the following blog post interesting if you want to know what other people are doing in order to plan and building strategies their business:-

10 Golden Rules Internet Marketing Strategy Blog

 Developing personas for marketing strategy

What is Your Social Media Marketing Strategy?

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Tags: business plan, marketing

This entry was posted on Wednesday, April 9th, 2008 at 8:52 pm and is filed under marketing. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.