I had someone ask me if I believe internet marketers need business plan for their websites. I said yes, but I know a lot of people just jump right into developing the site without a plan. I think an outline is at least needed so you have an idea of where your headed. I just wanted to hear from other internet marketers. Diffidently had me thinking.
Well,I also think they need a plan.Without any plan,it's most because of luch that they can succeed.But I think it's very hard for they to grow stronger and stronger or bemome the leader in their field.A plan can help us achieve our goals more easily.
Drafting up a business plan helps you organize your thoughts. It will force you to study and research the market, your target audience, your competitors etc. It will also give you multiple opportunities to question yourself...bottom line, business plan could make you or break you. However it's well worth the effort. Don't be discouraged if you find out that you idea is actually not what you expected. Optimistically, at least you didn't waste money and time on it.
Well, I think you need a mix. Because the internet is constantly changing you don't want to be the kind of person that sits around making plans and not doing anything - but at the same time you don't want to join the majority of marketers who just jump from one thing to another without any sort of direction or plan. So you should have a general outline, and know the costs of your project, a timeline with deadlines and the people you'll need to hire or partner with to get it done and have a good understanding of your biggest competitors. But anything beyond that is a waste of time, the internet changes too fast to actually sit around making 50 page business plans
Good point James. I agree. Doing a small scale business plan is probably the best idea. However if you need investment, an investor will probably require a full fledge business plan. It probably all depends on where you want to go I guess.
Online business is no different than a real world, or real life business, and you should treat it accordingly. This includes some of the following... 1. Set up a DBA/LLC, and seperate business checking account. 2. Federal tax ID (so you do not have to give out your SSN). 3. Taxes 4. Keeping track of expenses, and have an accountant. When you start doing online full time, and you go to get a house, car, whatever they are going to want to see your taxes for a few years, and a business plan and your progress on it always helps get the loans. I have had to do this myself for my jetski, car, house loans. The more the bank believes you run you online business like a real business, the easier it is to get loans. Of course, you still need to be profitable, and have decent credit. But online is really no different on paper than a real world business. Good luck.