Internet Marketing Success Requires a Business Plan (Part II)
Formal business planning is a process that takes that "great idea" and subjects it to rigorous scrutiny. It either validates your premise or else shows you where the idea falls apart. Business planning forces you to identify costs and develop a sensible marketing strategy before you start spending money. Having a solid business plan will also help you to acquire funding, if necessary. So what should an Internet marketing business plan address? At minimum, it should be a written document that covers: Product/Service A precise description of the product or service you wish to market on the Internet. What is it, and what are its ingredients? What (if anything) makes it unique? Are you sure you can actually provide this?
Marketplace A clear definition of the target market(s) in terms of characteristics and numbers. That is, what need are you going to fulfill and who are your prospective customers? Is the market big enough to justify your investment? Is the market wide open or is it already saturated? Are there any entry barriers to prevent competitors from easily imitating your success? What industry associations, directories, agencies, clubs or events can be leveraged to reach your target market(s)?Are there any distinct prerequisites to participating in the target market(s), such as industry certifications or association memberships?Who are your competitors, and how are they addressing the market? What do their Websites offer and how are they constructed? How successful are they (check SEC filings if they are a public company)?Strategy Given what you have learned about the market and the competition, how are you going to differentiate yourself? Is it through better service, lower pricing, more features, by offering different models for each market segment, improved convenience... what is your "edge?" Why should a customer buy from you rather than an established competitor with a proven track record? Unless it is a huge, unsaturated market, save yourself a lot of time and expense by stopping here if you don't have a good answer.What is the most effective way to reach your targeted audience on the Internet? Through niche directories or search engines? By search engine optimization? Advertising in targeted online ezines? Email marketing? How?!Pricing What is the going price for the service or product that you wish to sell on the Internet? What will the market bear? Is this sufficient to yield the margins you need to have a profitable business?What will be your pricing by model or type of service?If you are considering consulting services, how will you provide timely bids?Operations If you intend to market a tangible product, how will it be produced at the required volumes and turnaround times?How will orders be processed? By e-commerce, email, phone, or fax? Are merchant accounts necessary?How are you going to fulfill orders? Will you have orders drop-shipped or handle them yourself? Is electronic downloading required?Do you envision establishing a distribution channel, such as resellers or affiliates? If so, what is required and how long will it take?How will customer service be handled? What is your guarantee to the customer? How will returns be processed?
Costs What start-up investments are necessary (talent, hardware, software, outsource services, office space, etc.)?Where will the start-up funds come from?What are your production costs?What are your ongoing costs (Web hosting, PPC advertising, etc.)?What type of legal entity will your "company" be (e.g., sole proprietorship or LLC), and what cost and effort is necessary to make that happen?Launch Plan Identify all the major steps that must be undertaken to launch your Internet operation and determine which steps must be accomplished before others (i.e., what are the prerequisites for each step). Use Microsoft Excel or Project to sequence these by time.Who is responsible for each step?Determine your "go live" target date.Expected Return on Investment Create a spreadsheet model to determine when you can expect to break-even on your investment costs and what your estimated profitability will be over the next two or three years (preferably on a monthly or quarterly basis). Format the model so that it shows:Expected Gross Revenues by model or type of service, taking into account a start-up curve. Construct it so that you can easily enter different variables (e.g., number of monthly sales by units) to ascertain the impact on expected revenues and variable costs.Less Fixed Costs and Variable-Costs-per-unit or service (tied to expected sales).Equals Gross Profits Before Taxes.Then compute Net Profits after Taxes (taking into account allowable IRS deductions).When finalized, use standard Excel features to generate at least two graphs:A line or bar chart showing the expected revenues, operational costs and anticipated gross profit on an annual basis.A break-even chart, illustrating when profits are expected to exceed costs.If you are seeking funding, factor in future values using appropriate discount rates. If you don't understand this, get someone with a financial background to assist you.If your "great idea" still makes sense after going through this sobering process, then by all means proceed. You are way ahead of someone who just jumps on the Internet with no knowledge of where they are headed. Unlike those unfortunate souls, you will know your target, what you are doing (and why), and have a barometer against which to gauge your progress. Bon Voyage! About the Author Al Kernek is an Internet marketing consultant and the author of "Put Your Business Online," a step-by-step guide for successfully creating and promoting a low-cost Website.
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Womens Reproductive Health: Where To Turn For Womens Reproductive Health Answers
When it comes to womens reproductive health, there are a lot of questions that can be asked. If you have a question it's always best to see a doctor and ask him or her in person. After all, they went to school for years to specialize in the subject, it'd be a shame if they never got to utilize their skills. Besides going to a womens health specialist, your best bet is to get online, head to a library or even ask your friends. Usually, a poll of ten or so female friends can tell you if something is normal or an issue you should be concerned about.
Womens Health - Pregnancy Nutrition is for All Women of Child Bearing Age
During pregnancy your nutrition needs are going to increase. Even before becoming pregnant it is a good idea to make every effort to start eating healthy and taking a women's multivitamin.
Florida Health Insurance Web Approves Crist Health Insurance Plan
"Gov. Charlie Crist has a plan for the 4 million residents without health-care coverage, that according to health insurance news correspondent: Florida health insurance (http://www.floridahealthinsuranceweb.com) consultant Morgan Moran. "The future of insurance in Florida comes with "robust" benefits for as little as $150 a month."
Womens Health Specialists: Where To Go For The Best Womens Health Specialists
Where do you go when you need womens health specialists? Do you rely on womens health magazines, or do you just ask your friends whenever you have a question that you don't know the answer to? Many women avoid either and prefer to use the internet instead as their sole source of information that deals with their health. There are a lot of great sites out there that you can search through to find more information on whatever health problem you may be experiencing. Even better, some sites allow you to search through symptoms, essentially helping you to diagnose yourself. You should still see a doctor, but it can put your mind at ease to know you're probably only dealing with a cold, rather than the life threatening illness you thought you had...
Health Insurance Lead and Health Insurance Leads
Health insurance lead generation systems provide a stead stream of potential clients for health insurance brokers. Health insurance leads are considered to be people who may need health coverage to supplement the health coverage provided by their employer.
A Report on the Scenario of UK Adult Personals and Adult Dating Web Sites
Computers and the Internet have had a tremendous impact on society. Together they have become the dominant aspect within our social, business and personal lives, and have completely altered our cultural landscape. From accessing information to shopping, from sharing email to finding life partners, everything is now possible online. Essentially we have created a new world: the virtual world. Let's explore one of the new features emerging from these integral tools that have become so essential to our lifestyle:
International Health Distribution Launches Women's Health and Beauty Web Resource
International Health Distribution (IHD), a global provider of scientifically advanced, all-natural cosmetics and supplements, launches an informative web resource, http://www.hormones-beauty-health.com. It was designed to enrich the lives of women of all ages through the offering of topical articles and an innovative Blog - it will be the most comprehensive resource for identifying health and beauty products.
Affordable Health Insurance Unemployed - Health Insurance Options for the Unemployed
Being in between jobs and unemployed can bring in many financial problems to your doorstep You might need to depend on someone else to help you with covering your day to day expenses
Free Internet Dating Site - Tips For Women And Join Free Dating Sites Today
Even if women join free internet dating today, you can get complete assistance in dating with the person you want to Be sure of finding the right person
Jacksonville.com First Online Newspaper Site to Add Virtual World News Feed
Jacksonville.com, the website of the Florida Times Union is the first in the country to add a virtual world news section. VirtualJax.iVinnie.com is a daily news aggregator of top stories from virtual worlds, online games, and social networks.
World of Jewish Launches Networking Site For Business, Politics, Dating, Jobs, Health and Culture
World of Jewish social and business networking website has been launched offering everything from dating, jobs and real estate to business, politics, music, art and video and health.
YouLoveMe.com Free Online Dating and EliteMate.com Paid Dating Site Announce New Partnership
Free Online Dating Site (http://www.YouLoveMe.com): YouLoveMe.com is pleased to announce a marketing partnership with traditional monthly-fee based dating site: EliteMate.com
The Beauty And Benefits Of The Family Health Care Insurance
In the United States alone, the prices of the health care of the ordinary American people will increase for up to 76%, this is due to the fact that the prices of the prescription drugs that the big and commercial pharmaceutical companies are selling on the market today have been on the constant rise as well
Insurance HQ Commentary on the World Health Insurance Slump
There has been a world wide health insurance slump. More people than ever before are not covered with by Health schemes both in private and public sectors. Australia is having its own health insurance problems with the Prime Minister Kevin Rudd's Government's new Health Policy imperatives. Insurance HQ predicts 913,000 Australians will drop their insurance because of changes to the tax system.
Womens Heart Health: The Scary Truth About Womens Heart Health
Womens heart health is a subject that should be on the tip of everyone's tongue, but for some reason not too many people seem to be talking about it. Unlike other womens issues that have people mobilized and raising awareness, when it comes to the heart there doesn't seem to be too many people championing the cause. It seems as though I can't drive anywhere without seeing a car with a pink breast cancer awareness ribbon magnet attached to it, but where are the magnets for heart problems.
1st Xmas Personalised Lullaby
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