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Getting Started: Creating a Profitable Business Plan.

Aug 17, 2007
How excited are you?Do you have a great idea for a profitable home ba-sed busi-ness. Could it be an original idea that has not been mar-keted on the internet before. Perhaps you have come up with something exstra-ordinary. Whatever has influence you to consider online business, be sure that you have a plan before you begin. This is not the time to "pick it up as you go", because there is enough information available to help you succeed. These are some
basic things that should be included in your business

The business summary should give a brief description
of the entire business as it 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
with the business. Next and perhaps most importantly, you should develop your profitable 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 women,teenager college students or those who are in retirement? And please be sure they can afford the product.

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.

Improving on their flows will guide you to research the various methods for advertising online for similar products. 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, considering how well you do with pricing.

I bet your are thinkig about pricing now. Just calm down and again, look at the competition and see what similar products are selling for. Pricing can significantly, can play a magor 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

Consider these few things as guide for your online business to become a great success and also provide you with encouraging peace of mind knowing that you have thoroughly thought about and planned for the opening of your online business. Good Luck!!!
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