Tuesday, September 25, 2007

Creating A Master Plan For Online Business

Before you start you business online. You must create a business plan. A plan that tells you what to do and what you need. Similar to TO-DO list.

What should be included in your master plan?
1. Niche Market
2. Monetization Model
3. Sales Funnel
4. Periodic Goals

Niche Market
-
Researching and choosing a niche market that you familiar with.
For me, I will use the 1st week to do choose the right market when I start my business.

What is my action?
First,
I will do my research in the clickbank marketplace to find popular niche topics among best selling products..
Second, Narrowing down my list of potential niche market by checking out the competition.
You should know about the type and the number of competitors for each of your niche.
You may use some keyword researching tools such as Keyword Elite
Third, estimate my cost of advertising at Google Adwords , e-zines and classifields.

Monetization Model
-
As I mentioned before, there are a lot of ways for you to monetize your webpage or website.
For affiliate marketing, you have to check the available affiliate programs to see what their options are, and what can you aspect to get in commision.

You may look for the affiliate program like clickbank, commision junction, or modernclick.

Sales Funnel
- In order to set up your sales funnel. you will need to determine which tools you need.

  • web site?
  • autoresponder?
  • blog?
  • software tools?
  • membership site?
Then, how you direct your visitors through your monitization model?
  • Lead capture?
  • Direct referral?
You may use frontpage or dreamweaver to build your website. After you build your website,
drive traffic to website, there are many ways to drive traffic to your website, you may use
Google Adwords, it is the faster way to get traffic to your website.

After you have drive traffic to your website, you must capture your visitor, so that you wont lose your long term customers. In order to do so, you must have autoresponder, I recommend that you use aweber or prosender. However, u may also use autorespond plus, so that you no need to pay monthly service fee.

After you have a website, you should create a blog for it. It is optional but it can potentially generate more sales and drive more traffic to your website.

Periodic Goal
You should set your own goal periodically. It is important to have a goal to achieve it. Many people fail their business online because of this. Why? because when they do not set any goal within a period of time. They put less effort on it, maybe after 1 month they did not generate any sales then they wait until next month. Day by day, they get nothing and fail in their business online.

30 days goal:
How much traffic do I need to set in this motion?
How quickly can I aspect to be in profit?
What is the average profit I can aspect to make from a sale or a referral?
How much work will I need to put in each day in order to reach my goal?
Where and how should I advertise to get the quickest results?

3 months goal:
Once I make my first $1000, make an increment of $500/month

6 months goal:
Establish an income of $3000 per month, work in more passive income opportunities, as well as throw some new products into the mix.

Hope you all can be success in the internet marketing world soon.
Please feel free to leave some comment.




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