Build Your Business Plan
Have you been putting off starting your online business because you can’t decide what kind of business to start? If deciding on which direction to take with your online business feels like trying to map the desert, you need to list out some of the more obvious possibilities and then pick one. It’s time to get moving. One of the first steps to getting going is to take some time to outline a rough business plan, brainstorming about possible products and directions and laying the groundwork for what comes next. Here are some preliminary questions to ask yourself so that you can come up with a basic scaffolding for your business and start to execute the pieces of your business plan puzzle:
What Could I Sell?
Businesses sell things, that’s how they make money. If you have an allergy to selling things, you will need to get over it. The different categories of things to sell include: 1) physical products, for example something you either make or have someone else make, or something you buy at or below cost and then resell for profit, 2) information products, such as an ebook or a step-by-step guide that solves a problem for a certain subset of people, 3) affiliate products, meaning that you would promote from your website or blog other people’s products that you yourself find useful or exciting, or 4) services, such as web development or writing. Of course, many successful businesses employ all of these revenue streams to make money.
Who’s Going to Buy What I Have to Sell?
This is a very important question to consider when you are thinking about potential products to sell. Who is your ideal buyer? It doesn’t have to be a demographic, in fact, it’s better if it’s not. Think about the kind of person who would really want to get serious about, say, improving his or her golf score. What are his or her motivations? What could you say to them or what kind of angle could you take in your marketing and sales copy to really convince them that your product could make a difference in their lives? Thinking about this question at the outset will help you to focus your site’s focus, as well as hone your marketing.
Why Will They Buy It?
This question has to do with motivation. Why should a customer buy your product? What need will they be trying to fill in their lives?
Where Is the Common Ground Between Me and What I Will Be Selling?
This question might be more important than all of the ones before it. You need to ensure that your products and business are in line with who you are and what you stand for. If you are starting a business just to make a buck, the chances are good that you won’t have the staying power you will need to see the thing through. Find a way to be authentically YOU in your business on the other hand, and you will be well on your way to success.
