A Business Plan Is Essential:-

People who market on the Internet or who set up a business under normal
cricumstances will usually start with a business plan. But first you decide
what it is you are going to do with it and how it will help you? If you have
never done one before you may well be asking:

  • What is a plan?How do you make it?
  • What things do you include in it?
  • What are the benefits?
  • Can anyone do it?
  • A business plan details a course of action that sets out where you are going,
    the length of time you might expect to pass before you get there, your expenses,
    outlays, anticipated returns, what tools you need, the income you may receive,
    what products to market, what price to charge, how long till you draw a wage
    and how you will live in the meantime.

    You need to resolve question like do you need an outside job to support you
    until that time? Or can you get money from other sources?

    Make a note of the above and fill in the blanks to the best of your knowledge
    and expectations. Decide if you need premises or will you be working from home?
    If commuting travel expenses should be noted and logged daily. Mark these things
    against outgoings. Get a journal for this purpose.

    Decide whether you will hire people either as consultants, employees, or agents.
    What costs are involved if oyu do? Get approximations at this stage. Remember
    advertising costs, copy writers if you hire them, office equipment, and
    everything else you can think of, even if you later change your mind about them.

    Online businesses require web sites. Check around to see if you can do it
    yourself and what is involved. You will also need and ISP (Internet Service
    Provider) whom you can find through the local phone book. This is the exchange
    that hooks up your computer to the web. If you don't have a computer you will
    definitely need one.

    There will always be other needs. For instance an email account which you
    acquire from your ISP. They will usually set you up with at least one main
    address and several free ones. To collect names and addresses from your site
    you will need an auto responder. You may need a printer, software to run your
    equipment, and books on Internet Marketing advice. These flood the market but
    only some are worth buying. So before you venture too far down the track join
    a forum. The best on the web from help from members is here

    Once you start its a huge learning curve so it pays to get everything you can
    out of the way first.

    Decide on how many hours you will work per day. Most IM's work long hours and
    spend a long time on the computer. Divide your day into sections to do important
    things first and the least important last. Once you start joining lists you will
    be inundated with emails. These can be filed, discarded or marked as spam.
    Prepare to get a spam protector which your ISP can probably arrange.

    Anyone can write a business plan and it may help you if you need to consult the
    bank for funding or take on a business partner, and so on. It will certainly
    help around tax time.

    When ready detail it in a formal way or split it up and pin the various sections
    to the office wall or frame it so that you can see it at a glance. As you progress
    your business you can adjust the plan or get satisfaction from how well it has
    served you.

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