As with any business before you start your online venture you should have a business plan. If you were to start a conventional business, the chances are you will need some financing to get it off the ground. With an Internet business, there are generally very small start up costs, so people tend to start a business without having any plan in place.

You need to consider yourself the lender and ask some hard questions before you start your company. By using a standard business plan, you can give yourself purpose and direction, this way you will minimize your chances of failure.

Before you sign up for any online venture answer the following questions. Some will not apply to you, so skip them, but by doing this simple exercise you will can have a better chance of being focused when you do decide on your business.

You are playing the role of both business owner and money lender, so be as honest as you can.

1. What business are you going to be in? Is it product driven or are you providing a service.

2. What is your reason for being? Explain your companies goals and objectives. As a home business you do not want to explain your personal goals, separate yourself from your company. You can put in a goal of being a leader in customer service or providing the most reliable gadget for a reasonable price.

3. What is your business philosophy? What does the business consider important.

4. Who is your market? What type of person or company will be interested in your product or service and how will you meet their needs.

5. What is your industry? Is there growth? Are there any changes that may be occurring that will affect your company? Is there a method to take advantage of this change?

6. What strengths does your company possess? What is it that will allow your company to succeed? What are your competitions strengths and how will it affect you?

7. What weaknesses do you perceive in your company? How can you correct these weaknesses? Is there a weakness in your competition that you can utilize to help promote your company?


Although this is not a complete business plan, it is the minimum requirement to get into a lender. You need to be able to answer these questions before you start an online business. Far too many people jump at the first online opportunity and have no idea what their business is.

Treat the Internet the same way you would be expected to treat a conventional business. Act like a lender and ask yourself some key questions to bring you one step closer to success.

Labels: start a business

In a world where we are always striving to get ahead there are a lot of people turning to the Internet to make extra money. The reality is most people who do this will quit because they soon realize that it takes work to be successful.

Trying to build a business is not easy, and if you don't have a why it will become even easier to walk away. A lot of the time if you ask a person why they would like to be in business for themselves they will tell you the money. To be honest, this is the nastiest motivation in the world!

Money can not be your motivating force in business, there has to be more. Money might be the tool to your dream, but it should not be your goal. The reality is, if you only include money as the motivation for trying to develop your business, when things get demanding -and they will - it is not enough of a motivation to keep going. It is not tangible or emotional.

Having a tangible dream is a fantastic approach to remain focused. What is a tangible dream? A good model is the home you would like to live in. You want to get an actual photo, or the location of the home that you desire. No less than once a month, I go along the wealthy people's road in my town. Every town has one, take some time and go site-seeing, for me there is one specific home that I have fallen in love with. Whenever I see it I get a prickly feeling that keeps me going on the days that I am upset with my business.

Your tangible can be anything, a car, a piece of jewelery, something that gives you that reaction inside. But you do need it, as it can help you stay focused as to why you are building a business.

The other technique you ought to include is an emotional one. Having an emotional purpose for wanting to realize a dream is exceptionally powerful. While the idea of owning a physical thing can keep you motivated, having an emotional stake is way more powerful. It is very personal, and not everyone will understand it. It is an inner force that will take you beyond the negativity you may feel about building your business.

An emotional reason can come from many things, your desire to provide for your family, or taking care of your parents. It isn't necessarily a positive experience, that created your reason. My mom passed away when she was 56 and her greatest wish was to retire from her profession. She missed by 6 months. After her death, I started to think on my life, and how I was following in the identical path as she had. She was a civil servant who had worked 29 years with the government. At the time, I was a school teacher, who was already on the count down - howlong until retirement. I realized that my mom lost her goal of retiring and traveling, suppose the same thing happened to me.

I wasn't about to waste my time working for somebody else, to then lose out on the things I wished to do. I left my job, and started a construction company that year. Sometimes I questioned my sanity, but each time it got difficult and I thought about quitting and going back to the classroom, I thought of my mom. That emotional tie pulled me through the hard times. Even now, when things get tough, I think of why I own my businesses. Find your emotional why, and keep it close to you for the days you want to give up.

Starting a business is not an easy venture. There will be days you will want to stop, and if you do not include a why, you will be in the 95%of people that do. Come up with a motivation to battle through your unpleasant days and you will discover success. A physical reason that you can gaze at, touch, maybe test drive; and an emotive reason that is very private to you.

If you are equipped with the precise reasons, you will be capable of building a profitable business. It won't occur immediately, but it will happen.

Labels: have a reason, start a business, tips