What Are The Elements of a Business Plan? Part 2

Yesterday we reviewed the audience you should be keeping in mind when preparing your business plan.

Today we are going to give you a quick overview of what you need to cover in your internet business plan as a whole, we will refer to this as the business model. In any business reporting, too many times you may find yourself leaning to close to the side of analytics.

What is meant by this is even though we need to analyze a fair amount of data to create your internet business plan, you may over analyze the data which can actually distort the real meaning of the report. What you need to do is keep things simple, don’t create confusion or make things more difficult than they have to be.

Here is your internet business model in simple terms:

Your Core Business is the business which you have formed, for today’s example we are talking about the business which you have formed online – Your eCommerce Storefront and here is what that business does:

• Sells a product or service which is of value to your prospective clients.

• People need to see your site, therefore you need to get traffic to your site.

• As People visit your site, you need to bribe them with free products in order to get their contact information. Building a list of valuable contacts is imperative to most online businesses long term success.

• Through honest, reliable customer relations you need to sell to these contacts.

• Once you sell your audience, you need to give them a reason to keep coming back so you can sell them more, or maybe a related product and/or service.

Once reading through the above process it sure sounds easy but that is the only issue with that plan – “It sounds easy”. Most people admit they have thought “How hard can that possibly be?” Many businesses have failed and continue to fail even knowing this very business model. Read more

What Are The Elements of A Business Plan?

There are varying opinions on what a good business plan should contain and what can be left as assumption.

Personally speaking what your business plan contains is directly related to the purpose of creating the plan in the first place.

Your plan of action has to be geared to your audience but you don’t need several different business plans for one company. A good idea may be to to highlight certain data, depending on your audiences needs and the purpose of the presentation. As an example for your banker it is best to have a financial plan or financial forecast of a viable business, otherwise you have nothing to back up the businesses ability to repay any debts being obtained or being reviewed. This particular form would be known as Financial Statements.

If you are making a presentation in front of “would be investors”, as you are looking to raise capital for a large project, then you will need to give investors some comfort which states the benefits outweight the risk. Investors only care about getting their money back with a decent return therefore they would be best suited to be presented on a forecast of your business projections as far as upcoming projects and the benefits of projects and/or products – how much market share the business is getting with products and services, how strong is the management team and what are their values in building the business.

Hopefully you are understanding the point to this message, so whatever you do don’t let what your business plan should look like hold you up, create your general Business Plan and then depending on your audience’s needs add to or take away where and when necessary.

Remember your reputation is on the line therefore don’t attempt to BS or fluff up what is not really there, be honest and have documentation including relevant market research to back up your theories or stats.

Regards,

Carl Tambeau
Founder of Pro Marketing Resource

Have You Completed Your Internet Business Plan?

If you haven’t completed or even started your Internet Business Plan we can help you here. Throughout the next week we will be reviewing the key components to Internet Marketing which are directly related to your business plan.

During the first few days we will be paying particular attention to “The Plan”.

The Plan starts with one thought. The thought starts with you. You started the thought because there is something in your life you want or need:

• Financial Freedom
• Time with Your Family
• Special Trips
• To be an independent professional
• A New Truck, Car or Van
• Everyday to be like a day at the Spa
• A New Wardrobe or maybe New Shoes (perhaps both)
• Basically whatever your heart desires which is morale and legal

The magic question is how can you get whatever your heart desires?

Even though this is a great question, the answer is far from being a one liner, there are so many variables to consider:

The first one is you:

1. What are Your Passions and Interests?
2. What Knowledge do you have in Your Subject?
3. How Committed are you to learning and building your online business?
4. What Time Sacrifices are you willing to make?
5. How Deep is Your Desire to Learning and Building Your Internet Business?
6. Where Do You See Yourself by the End Of 2009? 2010? 2011?

If you are new to the Internet Community then you will soon realize an online presence has nothing to do with location. It has everything to do with your content:

• The Niche You Choose
• The Content You Write
• How You Speak To Your Audience
• What Words Are Your Prospective Customers using to find information in your niche? (Keywords or Keyword phrases)
• Who is Your Target Market?
• What are they buying?

Before you go any further you need to answer all of the questions presented here. Yes there are a lot of questions to consider so lets start with the questions about you and then we will move into the questions related to content.

Before creating your Internet Business Plan you need to search your heart to understand what has moved you to your current desire to create an online presence. No amount of teaching or instructions will help you to be successful unless you are passionate about the product or service you are building you business on.

For today we will stop here and tomorrow lets review the questions on content.

 

Regards,

Carl Tambeau
Founder of Pro Marketing Resource
Founder of Healing Music Emporium

 

What Is The Real Purpose of Your Internet Business Plan? Part 9 of 9

We have arrived at the final page in our 9 part series.

Is there one particular purpose your Internet Business Plan serves?

Your Internet Business Plan is not about one thing, it is a plan with a series of carefully thought out steps.

Each step serves a purpose to an end result. You may have the most professional looking business plan, compared to everyone else in your group.

One very important factor will stand out in the end, irregardless of looks and fancy wording – and that is your Business Success.

The whole purpose of the Internet Business Plan is not so you can show off your graphics talents or writing skills (these are important), it is all about the success of your business.

How accurate was your research when analyzing related markets?

How well did you research:
your competition
your product or service
your start up costs

If you have done the best possible work on your plan, now you need to put it into action.

Setup weekly, monthly, quarterly review meetings so you can analyze your progress. During these reviews you need to determine an action plan:

Keep following the plan if everything is ok
Fine tune a few tasks to optimize results
Edit your plan to refocus as maybe something isn’t working

Whatever the action is, continue to follow your plan for the year. At the end of the year you will start your Internet Business Plan for the next year.

We hope you have a great day

This is Carl Tambeau
founder of pro marketing resource.com

Business Ethics Training – How does this relate to Internet Marketing?

Part 4 of 7

We believe in providing quality, honest, and relevant information to you, our readers.

Does this mean we are Internet Do-Gooders?

No – It is all about Business Ethics Training from our past corporate life. Treat people with respect, – do unto others as you would have them do unto you and so on.

For the past 20 years in off line business, business ethics have been instilled into my character. Through this process I was able to earn trust as well as respect, from my clients and peers.

As a result Read more

Do You Have Email Information Overload?

Some people join Internet Marketing thinking they will make money quickly which will solve their problems within 30 days or less. There are a lot of experienced marketers who know how to lure newbies into this frame of mind.

You get online you see a professionally created website and it looks great! You are thinking Read more

What do you know about Relationship Marketing Strategies?

Here it is November 2008 and would you have ever guessed we would be talking about relationship marketing strategies for an internet business. Some people would dare argue “Who cares about relationship’s on the internet – it is not as if we are waiting on these clients face to face”

Do you think your “attitude” will show to people in an internet business?

Can people tell what type of person you might be by the way you write?

You bet they can, you can also be guaranteed people will decide within seconds of reading your material whether they believe you are for real or not.

In 1998 Read more

Have You Been Introduced To ‘The IM University’?

Are you still struggling with your online business?

Are you new to Internet Marketing?

Do you have an online business plan created?

Have you ever wondered if all the guru’s are great story tellers or are they really successful?

Better yet did they become successful by chance or by skill?

Questions, Questions and more Questions – the Internet Marketing Industry is having Read more

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