What Are The True Characteristics of the Internet Entrepreneur?

Yesterday we spoke of the characteristics of the internet entrepreneur. After some careful consideration to yesterdays report we thought of some additional characteristics that are worth mentioning.

Entrepreneurs are people like yourself who have the right attitude and dedication. Some days being your own boss can be an uphill challenge and this challenge can last for days, weeks and even months.

Here is a question worth mentioning here – “Are you ever your own boss?” In our opinion you definitely have the say in how you run your business to some degree.

What about how your clients feel? Does it matter what they think?

Unless you don’t care about staying in business for long you need to be concerned how your clients feel so in saying that wouldn’t it make sense the ultimate boss is your client.

Internet entrepreneurs possess characteristics which are very important and for those who don’t have these characteristics will have less of a chance to succeed in the long run.

Some additional characteristics are as follows: Read more

What Does It Take To Be An Effective Internet Entrepreneur?

First, let’s take a look at how we should define an Internet Entrepreneur:

In a blunt, meaningless definition -  it is to get your “behind” off the couch and away from the TV, pursuing an online presence in an effort to enhance your financial situation. Sitting around feeling bad about your situation and doing absolutely nothing about it, is definitely not part of the equation to being successful.

Internet Entrepreneurship is about exhibiting your vision, focusing on faith and action in unity, and pursuing your vision as a goal to be achieved as a service to reality.  The following are characteristics of an Internet Entrepreneur:

Optimism – being optimistic is having the ability to see things in a positive way not allowing circumstances that would hinder your progress. You will no doubt encounter some difficult situations along the way, how you deal with these situations depends on your belief in what you are doing and/or your knowledge of how to overcome these difficult situations.

Creativity – “Thinking Outside Of The Box” – expanding your thinking beyond the ordinary thoughts or circumstances through fine research and collection of relative information.

Stability – As a business owner you are normally perceived as a leader to others therefore from a physical, mental, social , emotional point of view it is imperative you possess stability in your life which often means you can handle difficult situations through tough times.

Charismatic – You can communicate with different cultures. A good entrepreneur should be able to make prospective clients feel at ease and not feel intimidated by their presence. Yes, you own your own business but that in no way makes you better than others, like or unlike.

Risk-Taker – Ah, yes this is the big one, you have a dream, now you must be able to be stern and have the nerve to take a leap of faith not being afraid to take chances when opportunity strikes. Now we are no way meaning careless leaps of faith, this doesn’t excuse the need for research. Facts will only take you so far, the next turmoil to overcome is your inner turmoil – your ability to go with your gut feeling after careful research.

Energetic – your drive to get to the finish line must be at its highest level as you willneed to work long hours and you will have to make personal sacrifices along the way.

Once again we are not saying to be foolish in your actions – your family is important and as an entrepreneur there has to be a give and take. Your family will respect your position when it comes to deadlines as you need to respect their position in needing you to be present at certain intervals throughout the day.

To be an effective internet entrepreneur you must be aware you need to remain positive about your endeavors, be observant of what your environment lacks and needs. You will have added weight to your shoulders with the increasing responsibility of the day to day operations.

Remember to always think big, Act and make your business dreams come true.

Regards,

Carl Tambeau
Founder of Pro Marketing Resource

Can You handle the pressure of an Internet Entrepreneur?

Yesterday, we gave a brief overview of business ideas for Internet entrepreneur, touching slightly on franchising for Internet Marketers.

We ended our post advertising for you to research your business ideas, especially franchising. When you are planning  to launch a business idea online or offline “research” is key.

Recently, we have been working on creating a product related to this very subject. On April 18, 2009 we will be launching our product to the public – it is called “The IBP Strategy” and is geared to be help you to systematically create your very own business plan.

Not all individuals who desire to own their own business can attain the goal, to be an internet entrepreneur. One of the most common reasons for failure is because the person did not have the right business plan. The other reason is a lack of personal dedication and commitment.

Look at it this way, Read more

What is a Good Business Idea for the Internet Entrepreneur?

Many individuals nowadays prefer to have a home-based business rather than working eight hours each day in the office. Some people are also into franchising; this may sound good but if you want to become a successful internet entrepreneur, you don’t have to focus entirely on franchising. You should consider other business ideas that you can venture into.

Research can be carried out with ease thanks to the power of the internet. If you conduct your search online, you can find other business ideas that you can use as an entrepreneur. Beginners will benefit a lot from the information they can find online about business ideas.

Because of the many business ideas you can find online, you will often find it hard to choose the ones you like. It’s easy to choose if you use your instincts. For instance, if one business idea feels right, take note of it but if you have second thoughts about another idea, disregard it once your research confirms your thoughts.

As an internet entrepreneur, you should investigate further by gathering as much information as possible about the business ideas. True enough, franchise is absolutely a great idea. By choosing this business alternative, you can be the boss of your own business and you can earn unlimited income.

Regards,

Carl Tambeau
Founder of Pro Marketing Resource

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

Does Your Target Market Know How To Write a Business Plan? Part 4 of 4

As with any business plan, a lot of research is necessary to create an effective, successful business profile. Future projections are in part based on history within your company and/or history within your industry.

After analyzing the history of all events and important transactions, you need to understand the economic changes which are predicted for your industry. Government policy changes can have major impacts on a business, regardless of industry. The current economic slowdown is definitely affecting 2009 projections and at this point into 2010.

For the online presence using historical data of your current business to determine how to write a business plan,will not give you and accurate picture of your internet business plan.

Yesterday we walked you through some steps and helped you to understand the importance of researching your target market. It is at this point you will need to open the spreadsheet you created on the top 30 competing websites within your industry.

Using the demographics data of all the competing sites gives you a clear picture of who your audience is and it is this data that helps you to understand your target market, before you open the doors online. In your offline business it would cost you a lot of time and expense to get this type of information, if you were even fortunate to be able to have such information at all.

Most of you learn who your target market is in a general way, some of you may not care because your business is in a high traffic location.

In a high traffic location you may be more concerned about the buying habits of your customers determined by what merchandise sells best, which is in part related to fads.

Online we get to understand, for the most part, who our target market  is before business opens as online it is all about unique traffic and that traffics interests in your subject. As an example if your business is selling ballerina shoes, I believe it is safe to assume this will be more of a female audience, ages 18+.  Usually moms browse online for these types of purchases more so than the dads do. (another safe assumption)

So now let us say you are focusing all of your marketing efforts on dance forums and in this industry there are varying audiences here as dance is not just ballerina.

One of the forums you are Read more

Do You Have The Skills On How To Write a Business Plan? Part 3 of 4

Lets take a look at the heart beat of your business. In your business you need to understand what action steps you
need to put in place in order for your business to be successful.

Naturally, business planning for an existing entity will be different from that of a new entity. The structure of the
business plan will be the same, however, when it is a new business you have to be careful not to have unrealistic goals.

If your expectations are above average for your industry, then make sure you have sufficient data and really understand
how to write a business plan to support your expectations. So remember not just any business plan but a realistic
business plan.

Now is the time to take a good look at who your competition is in your industry of choice. Take the top 30 websites and
inquire on each website using a tool called Quantcast. As you will see, this f.r.e.e online tool will give you all the
statistics as to the demographics of your audience. (Your target market)

On an excel spreadsheet or open office spreadsheet, create a format to record all the data necessary on each
website’s audience. This data will Read more

Do You know How to Write a Business Plan? Part 1 of 4

This is a very interesting subject for today’s infopreneurs as most people don’t realize the importance of a business plan in today’s fast paced business world, online or offline.

Why Do You Need to Know How To Write a Business Plan?

Helps you to keep focused on results

You need to know where to start

You Need to Know Where You Are Going

What Outcome Are You Looking For?

Use Your Plan For Periodic Reviews

The first thing you need to understand is “you”, just as we mentioned in the two reviews prior to this one – Take a look if you haven’t already.

When we coach our clients on How To Write a Business Plan, we always start with details such as:

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?

You need to be aware of who you are and what your interests are as this effects everything. Right now this may be a bit tough to wrap your head around but trust us when we say this can be everything in your business. Baby steps is the best way to go, as that avoids going back and repeating the same steps over again.

Sincerely,

Carl Tambeau
Founder of Pro Marketing Resource
Founder of Healing Music Emporium
Co-Founder of The Health Hub System

Do You Believe Your Internet Business Plan Could Fail?

Yesterday we talked about you answering questions about your passions,interests,desires. Before starting your Internet Business Plan it was recommended you do some soul searching to see what makes you tick.

How did you do with the exercise?

Did you learn some things about yourself?

Do you have a clear picture of what it is you are really looking for?

Since you have completed that part of what we will call the Pre-Plan work, now it is time to move on to understand what content you should be looking for.

Your passion and interests will greatly effective the niche you choose, you want to make sure there is actually a market out there for your particular niche. What you like is not necessarily going to relate to the Internet Audience’s interests. The only way your business will ever have a chance at success is dependent on who is looking for your product and/or services.

Your content is going to be dependent on what it is the Internet Community is looking for not what you think they are looking for. If you complete your research properly the data will confirm what it is your audience is interested in, again not what you think they are interested in.

There have been thousands of websites created on people assuming what someone else would be interested in. Some of the best looking sites out there have the worst sales results while an ugly site could be raking in thousands per month.

Not only is it important to research to find out what it is people are looking for on the internet but you need to believe in the statistics, take what the data is telling you and work with it. Do Not Ignore the Facts – This one piece of advice could save you months of work and lost revenue, which could be as high as thousands.

What keywords are people plugging into Google to find the answers to their problems?

As an example, if someone wants to know what HTML is they would type in “What is HTML” and the first thing they should see is a web definition for HTML. You will notice there are 74,300 other sites using this phrase as a keyword exact phrase to attract traffic.

Does this mean you have no chance at being successful using this keyword phrase?

Not necessarily, right now you know what your competition is, 74300 other sites using this keyword phrase but what you need to know to understand your chances for success using this keyword phrase is how many searches are being performed each month for this keyword phrase.

Using Micro Niche Finder, state of the art keyword research tool, as of this writing there was 4,400 searches completed on that actual keyword phrase in the past 30 days. According to Micro Niche this keyword phrase is definitely worth going after.

Compared to unique searches versus competition it should be a relatively lucrative keyword to go after and attract traffic with.

Once you have a decent list of keywords within your niche (2000-4000) you are ready to explore a bit further.

Who is your target market and what are they buying?

This is where things get a bit more in depth as you are looking for demographics of your audience and buying habits.

There is a really neat site called Quantcast, where you will find the demographics of your audience. What you need to do is record the top 20 websites in your niche – this should have been found in your Google searching during the research phase.

Type each name in to Quantcast and understand the results you are getting back – this is really not that difficult – take a look at the different descriptions and then record the details for each website. We found either an excel spreadsheet or an open office spreadsheet was best suited for this exercise.

Once you understand who your audience is search ask.com to find out the buying habits of your audience or Google analytics would be a great place to go as well. We offer courses on this type of action if you would like some help in this area – leave a comment or drop us a line if it would be something you would be interested in – Once we have interest from a minimum of 20 individuals we would start our next class in March 2009.

Your Internet Business Plan has a great base – so far you know your passions, interests and desires, now you also know more about your audience than 90% of most newbies starting an Internet Business today do.

Tomorrow we will review some more resources you need to know about in order to have a successful research project on your internet business plan. Click on the RSS Feed to continue to follow us throughout this project and quest to become successful online by learning from a company who knows.

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