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 Need To Know How To Write a Business Plan? Part 2 of 4

There’s the million dollar question, maybe you do need to know How to Write A Business Plan and maybe it really doesn’t matter – only you can answer that question. Here’s the thing, no matter, how you feel about the very subject, it doesn’t really matter what “you” think BUT what does matter, is what “your readers” think.

If they enjoy the content you are posting and if the knowledge you share is working for them, then yes you will have followers. BUT if things aren’t being kept up to date, your content doesn’t make sense, you aren’t in it for the right reason, your business plan is not being worked, then followers “will” go elsewhere – bottom line.

How do you know if things are progressing as you would like:

You need to go back to your original plan

see what your projections were

what your intentions were

where did you expect to be at this point in time

Wait a minute – You do have a business plan? Right?

NO PLAN – so how did you record your revenue projections, your intentions, where you want to be by now. You Say – “I never thought of that”. or – “My plan was to work my butt off and see where things end up” – Great Strategy – NOT!

Come on people, you now know what makes you tick because we already covered that in the previous reports. You need to know what you will do with all of your interest and passions as well as all the research you did on your niche. By now you should know:

who your target market is

what they are buying in your niche

demographically where they are.

Ok, so you 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.

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

Do You Know The Importance of Private Label Content? Part 8 of 9

Are you aware of how vitally important and valuable Private Label Content is to your online business? In fact, content can do more to build your business and profits than just about any other resource or service available.

The numbers of ways in which you can use materials from Private Label Content to make money online are almost as varied and infinite as the Internet itself.

Following is a list of just 5 key ways that content can help build your traffic, subscribers, and customers starting today!…

1. Boost your search engine ranking and daily visitor count by posting keyword rich articles and content on your web-site. For example, if your business involves offering products and services related to fitness, posting fitness related articles and content will attract unlimited prospective customers on a regular basis!

2. Generate double or even triple the number of newsletter subscribers you do currently, simply by offering content in the form of “special reports” or manuals as bonuses for subscribing to your publication. People love freebies, so give them what they want and watch as your results increase! Read more

Is it all about the Internet Business Plan? Part 7 of 9

Week 22: Jan 4-10, 2009

What did I learn this week?

This week I have learned you need either some or a lot of capital even to run an online business – you need to have money at your disposal to either fix or upgrade your equipment related to running an online business.

Creating an Internet Business Plan is critical to the success of your business every year – if you don’t do this you could be missing a critical ingredient in operating your business.

Connecting with people takes time, but this will be a critical part of your online business today and into the future. The days of leaving ads all around the net, hoping someone sees it and buys, are gone or we are close to closing that era.

What did you do as a result of what you learned this week?

As a result of this weeks events Read more

Did You Include Competitive Analysis in Your Internet Business Plan? Part 6 of 9

Now that you’ve decided to market your business on the Internet, you will need a competitive analysis included in your Internet Business Plan (IBP).

The Internet is a very competitive community, therefore knowing your competition is more important than ever.

It is important to understand what your competition is doing and what their traffic stats are.

How are they getting all that traffic?

What keywords are they using to attract attention?

Where is the traffic coming from?

There are tools available that will give you the stats on keywords, used by your competition. During your research this will give you an idea of what results to expect when marketing, using related keywords and keyword phrases.One service that offers such research information is Hexatrack.com – go here and sign up to a limited free account and review the videos to get a better understanding of how this service can help your business.

You need to identify the top 5-10 competitors in your niche and take a look at what they are using for keywords and keyword phrases.

1. When performing a search related to your niche – who are the top 5 websites?
2. What did you use for search criteria?

Read more

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