Is an Online Business Opportunity Right for You? Part 1 of 7

There are pros and cons to starting your own online business opportunity. On the negative side, you may experience cash-flow challenges, you will no doubt have to deal with a significant amount of risk, you will no doubt have to work longer and harder hours.

Starting an online business opportunity will not work for everyone as you need to be self-motivated, resilient, confident, a risk-taker and make sacrifices required when being self-employed.

Prior to starting an online business it is important you research the industry you want to enter. Google is a great place to start to understand the competition that is online in your chosen niche. You need to complete an exact search on keywords related to your niche, record the monthly search results which will give you the competition for that particular keyword.

This is part of a strategy used in creating a business plan for your business. A business plan will help you with the following:

• formalize your business ideas
• prepare your business for financing, if applicable
• uncover weak areas in your business strategy
• Improve your chances of success

Our IBP Strategy can help you to prepare a strong business plan which will provide you with a tool to track your success. In creating your internet business plan there are critical factors you need to pay close attention to therefore as you put together your plan for your online business opportunity, study all the facts and make sure you pay attention to what the facts are telling you, good and bad.

It is not an easy decision to start an online business just as it is not as easy to abandon a great idea that the research proves to be non-profitable. Take your research serious and in doing so, will save you many wasted hours, accept what you find and work with it.

Have a great day!

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 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

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

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

What Is Your Internet Business Plan About? Part 2 of 9

It has been 15 years since my first business plan was created. Since then my clients have had benefit as a result of the experience I gained and the challenges I overcame during the entire process.

The basics of a business plan are close to the same every year. There are strategies that relate to specifics of the plan which change periodically, depending sometimes on the world financial markets and your local economy.

A regular business plan is no different than an Internet Business Plan (I.B.P) Change will take place regardless of your likes and dislikes in the matter so to be successful you had better be in a position where you can change with it.

In offline business change is happening much faster than ever before, this is a direct result of our technologies. Technology has become more sophisticated, so much so that it is tough to keep up – even the best of the best struggle for their place in spotlight of their chosen careers.

On the Internet change is rapid – what worked 3 months ago does not necessarily work in todays environment.

Do you know the demographics of your customer base? Read more

Do You Have An Internet Business Plan? Part 1 of 9

Every year you and millions of others might be thinking about New Years Resolutions.

What will be different in 2009?

What changes can we make to improve our personal and/or business lives?

What should we focus on in 2009?

This year Jan 1, 2009 I was pondering over these very questions just as you might have been. I personally don’t buy into New Years Resolutions as they are set for the wrong reasons in my opinion. New Years Resolutions rarely have any higher than a 1% success rate.

For a 99% success rate, you need to build on your previous years results and experiences.

You may be thinking:

• What results?
• What success did you have last year?
• What was the results of those success’s?
• How do I figure out the results?

You need to focus on your success from the previous years and analyze each event so you can understand how those success’s came to be. Once you understand, build on those events and attach some improvement goals to achieve in 2009 and beyond.

What about personal goals?

Do you understand the importance of how personal goals affect your business? Read more

What Are Your Plans With Your Internet Business in 2009?

Welcome to 2009!

May you have good fortunes and great health in 2009.

With 2008 now behind you – it is time to make sure your Business Plan is in place for 2009. Stick around and we can help you get things together to come up with a concrete plan for your Internet Business. Not only will it be something you will be proud of but if you need financing take it to your banker – they will be very impressed with your planning abilities.

Check back January 2 when we plan to start our 9 day series on creating your own Internet Business Plan and You Can Take That To The Bank! Here is a quick overview of what to expect:

1. Goals and objectives for 2009.
2. Who is watching you – lets look at analyzing your readers.
3. Get the word out – Create a Marketing Strategy that works.
4. You can’t run a business with no money – we will analyze your finances.
5. Develop Internet Visibility.
6. We will look at Competition and analysis data related to your competition.
7. What will your website be about – Describe your site.
8. What will you sell – What services will you offer.
9. Site development – lets get the staff together and get things up and running.

Once again Happy New Year and we will see you tomorrow.

Regards,

Carl Tambeau

What is Happening With Market Research Analysis in Economic Downturn?

When it comes to Market Research Analysis, you can’t afford to let the doom and gloom news of the current economic downturn get in your way. Your darn right there is a ton of bad news out there but if you look hard enough you will find the good stuff.

I just found out from my cousin he is 40% ahead of his target from last year in his maintenance business.

Why you might ask?

His clientelle is small to medium business‘ and they are referring other business to him as business owners are looking at our current economic situation differently. They can’t afford to waste money on things that don’t need to be repaired but they certainly don’t want obvious things falling apart. These things are what the client can see.

You walk into a business and you see things falling apart, needing repair, not clean etc you will not feel at ease with the business. If you don’t feel at ease then what you wonder – are you getting quality service and products? Read more

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