ArticleMap.com

Getting Started: Creating a Business Plan

Getting Started: Creating a Business Plan
Copyright © Michael Hehn
http://www.Online-Profit-4-You.com

You're excited. You have a great idea for a profitable
online business. Maybe it is an original idea that has
not been marketed online before. Maybe you have come
up with a new spin on the ordinary. Whatever it is
that has influenced you to start your online business,
be sure that you have a plan before you begin. This is
not the time to “pick it up as you go”. These are some
basic things that should be included in your business
plan.

The business summary should give a brief description
of the entire business and is an integral part of the
overall business plan. After you have completed the
business summary you should begin to list the
objectives or the goals that you want to accomplish
through the business. Next and perhaps most
importantly, you should develop your marketing plan.
The marketing plan will address all the specifics of
the business. When developing the marketing strategy
you should consider the following:

The target market. The target market is the customers
that you expect to see visiting your site. For example
will your product be more appealing to college
students or those who are in retirement?

Consider the competition for your product when
determining the marketing strategy. Choose a product
that will be seen as unique and useful. Visit sites
that are offering the same or similar products. Find
out the cost, and how they are marketing their
product. Finds out the pros and cons of their business
and try to improve your product based on their flaws.

Research the various methods for advertising online.
You should become educated about search engines and
how they work since each one is different. Also be
sure that you know how to submit your site to search
engines. You should be prepared to spend a small
amount of money on advertising, but the profits that
you will gain from the advertisements will prove to be
money well spent.

Think about pricing. Again, look at the competition
and see what similar products are selling for. Pricing
can play a big role in the success of your product
since selling a product well below the average price
may lead customer to think that there is a problem
with the product or that it is not of the best
quality. However, pricing items too high could also
detour customers.

Determine the shipping method. Be sure that you know
how products will be shipped so that you can have
shipping details clearly posted on your site. If you
are shipping things of great value, you should
consider providing shipping insurance. Also think
about shipping outside the country that you live in.

Think about the different methods of payment that you
will accept. If your business does not accept credit
cards, you should be ready to give up half if not more
of your sales. If you decide to accept credit cards
will you use a merchant account or will you use a
third party credit card processing center? Both will
help you get started and the third party processing
center will handle all of the business so you don’’t
have to. You should decide which you will use and also
if you will accept checks or money orders. It is
essential to have a secure server when taking credit
cards.

These few things will help your online business to
become a great success and also provide you with peace
of mind knowing that you have thoroughly thought about
and planned for the opening of your online business.

Article Source: http://www.articlemap.com

About the author: ------------------------------------------------------- To find the best home based business ideas and opportunities so you can work at home visit: www.Online-Profit-4-You.com -------------------------------------------------------
Article Submission done by: articles.webblogerz.com

Please Rate this Article

Not yet Rated

Click the XML Icon Above to Receive Strategic Planning Articles Via RSS!

Additional Articles From - Home | Business | Strategic Planning

Mind Over Money - By : Paul Nawlin
Mtelligence delivers state-of-the-art Condition Based Maintenance - By : David S. Brooks
The ingredients for a successful business plan - By : Maxim Garanichev
6 Tips On Making a Business Plan - By : Makabongwe Maseko
The Three Enemies of Every Investor - By : James Delrojo
7 Tips To Organize The Perfect Business Meeting - By : Tudor Bran
Writing A Business Plan. - By : Homer Farey
Does Your Cleaning Business Have a Mission Statement? - By : Steve Hanson
How To Write A Business Plan And Make It Your Blueprint For Success - By : Dee Reavis
A Successful Business Financial Projection Can Be the Key to Securing Financing - By : CJ Pierce

	Print This Article
	Post Comment
	Add To Favorites
	Email to Friends
	Ezine Ready

Submit Articles
Member Login
i Top Authors
Most Popular Articles
Submission Guidelines
Ezine Notifications
Article RSS Feeds

Press Release
About Us
Link To Us
Contact Us
Privacy Policy
Terms of Service

Highly Recommended:

Sponsored Ads:

Recommended Hosting

Related Sister Site:
Submit Health Articles Now