As simple as the topic above sounds, it isn’t. To make it simpler, you will FAIL if you don’t have a plan. The flipside of failing is you’ll learn not make the same mistake, next time.
I assume that you don’t want to commit your first business sin. Well, you are at the right place to read a roulette guide.
Setting a Budget.
Having a visual idea on how much money your business needs and how much you could pour into your business helps.
Setting a budget gives you a reality check, on the expenses you would have never thought of before. Before you open your business, do some research and find out the expenses you’ll have to take care of.
One way to do it is by contacting other businesses similar to yours. Truthfully, most of them won’t reply or read your email but don’t forget the world still has some generous people.
Through personal experience, I learned that you won’t necessarily know all the “expense burden”, that will get to you, but conducting researches and analyzing competitors certainly helps.
You should jot down every penny, that you will have to spend on the business. As you are dividing the budget, think of things such as marketing, cost of hiring an developer, web hosting and things like that.
You’ll come across different options with different prices, so always make wise investments. Think about the features your business will truly need and help you succeed.
In short, don’t spend on ludicrously, you’ll need that money later.
Who doesn’t know the importance of setting goals… but who actually sets goals and follows it?
Before you open your business to the public, you’ll need to set boundaries on where and how far you want to reach. While setting the boundaries, make them small but expandable. You don’t want to have an unrealistic goal, than be let-down later. Make your goals small, and it should grow gradually.
You won’t be as disappointed with smaller goals. Try achieving them at all costs.
Work hard and smart, you’ll definitely reach to the peak.
Think of a financially successful movie which is nothing but shit. You know that the movie doesn’t deserve to earn anything, not a penny but still managed to make millions.
The one and only way producers achieved high profits from the movie is by creating the hype. They had an initial marketing strategy which stood out to the crowd.
Marketing for movies is different because they want to have a short term profit. A movie comes then goes, just like a tornado.
Your business however, shouldn’t be a tornado, to should be like the sun. You want to have a long term success. When making a marketing plan, you should be creative and at the same time unique. Your campaign should be catchy and unforgettable.
Once you have enough people coming to your site, and earn your trust, profits will increase on auto mode.
We all love great design but it should function efficiently and effectively. Before you do anything, you should start making rough sketches of your site. If you think you don’t have that ability, find a designer or someone you know, who knows about web design.
Choose your colors and brand image with brighter future in mind. Take a good look at your competitors site. I’m not telling you to copy your competitors site, but take a look at what’s working and what’s not working for them. You want your website to solve a problem for your audience that other competitors aren’t being serious about.
Think about how you want your logo look like? Hiring a logo designer shouldn’t set you back more than $ 50 to $100 dollars. Logo being the most vital part of your website, be extra careful about it.
If you’re on a modest budget, you should consider using a template. Services such as ThemeForest, Template-Monster offer high quality templates for reasonable prices. The cons however is that you won’t have a unique design, as there will be other sites using the same template.
All in all have a good planning about how your logo, website and products will look after it’s release.
Here comes the good part.
Some people do things due to inspirations but admittedly we all want to be successful financially. A serious business should at least have 3 various to monetize their site. Be it advertising, affiliate marketing, offering services, selling goods or anything you could think of.
I have been a victim of creating a website, which could possibly only be advertised through advertising. I got the website started and got accepted to google adsense, everything was going fine. Six months passed everything going accordingly. One day I find out that google has disabled ads serving on my website, basically I was screwed. I did get the initial investment I had made but how about the time and effort I put into the site?
That day I learned a huge lesson, and trust me you don’t want that to happen to you.
Create a list of ways you can monetize your business. After the launch of your site, try different variations of the ads or anything you use to monetize.
Everything has to come to an end, and I’m finally done (Yaaah!). Practice the above tactics, I have pointed and you should be a success. Please leave your comments below on what you did differently and what I have missed in the article. Also “buena suerte” with your new online business.