Create Your Own Internet Business Income With These Inside Tips
October 3, 2009 by Nadine McNeil
Filed under Internet
The first step I take whenever I begin a new online business is to plan out my course of action. You'll want to do this as well in order to ensure your internet business income plan will succeed. By taking the time to answer these questions now and preparing the direction you want to head in you'll avoid lots of headaches down the road.
Here are the questions I use whenever I take on a new project. Write them down so you can create you own business plan!
* You'll want to decide on what type of internet business income model suits your needs. Are you looking to write your own ebook and distribute it online, or re-sell other ebooks or software, are you looking to sell your items on eBay, or sell affiliate products that earn you a commission, offer services versus goods, use Google Adsense on a information or review site, try your hand at drop shipping, or simply sell your own items you have on hand, etc.
* What is your approximate budget you need to set up the site you are choosing as your business model? You can easily create a model that is under $30.00 to set up but others may cost more. Can you devote enough time to creating and marketing your site?
* How much money do you want to invest in advertising and marketing? You can reasonably expect to pay $100.00 per month or more for time saving tools. You'll want to know what your monthly budget can be because the more you outsource the more time you have to build more businesses.
* Are you going to write your own marketing pieces? This can be a huge time hog but if you are low on cash you can do this yourself. You'll want to learn some good "copy" and how to set up your sales letter.
* Are you going to accept credit cards on your site if you are selling your own products? You'll want to check out the various companies such as PayPal, Google Checkout, 2Checkout and find out what they are charging for fees, returns, set up costs, etc. If you are selling on eBay you will need a PayPal account. I love Paypal because they are simple to use, have low fees, and are great for returns and transfers.
* What is your USP or Unique Selling Proposition? In other words what is your competition doing and what are you doing to be better or different from them? What sets you apart from them. Do you know how much you are going to charge for your products or services? You'll want to know what the market is doing but set your price on the value of it's worth.
* What kind of spin off products can you create to sell to your existing market? This helps you continue to receive income from them after your initial sale. This can be something related to what they bought originally that could compliment their purchase. You are more likely to make a second sale from an existing customer than you are with an initial sale from a not yet customer.
* What kind of residual income can you build in addition to your product sites that could be run automatically with you not there. Think of selling an ebook. You create a site, add your content and sell the ebook all online. You use PayPal to process your payments and the ebook is automatically downloaded for your customer. You do nothing. If you create many of these types of auto pilot sites you can earn income and have time for other projects!
* Starting out you won't have any testimonials to give your site credibility so here is a brilliant way to get an endorsement fast and use viral marketing to spread your word. Find a keynote speaker or celebrity in your category or field that you could interview. Try to get them on video or audio. If you can use video you can then promote it on YouTube and also have the video on your site.
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