Well Hello! My name is Renee Lamb and I am YOUR job exit strategist. If you are still in the mind frame that you cannot start your
online business without a formal plan. Well I got you covered. The good news is that it
does not have to be long and drawn out like the traditional business plans. Remember you
are the banker. You will learn the components of an online business plan. Watch till the
end to get Free Valuable Offer. Business summary
Since you are starting an online based business, you should focus on your website, take the
time to describe all aspects of this site. Here are some questions to get you write this
summary: Who will run the business/site?
What it offers (services/products) Who it targets (Ideal Client)
When it will start (Launch Date) Where it will draw its customers (lead generation,
SEO) How it will function day to day (blogs) Marketing plan�
For an online business, marketing along with sales is your bread and butter.
You will need to create the following information in this section:
Create your Ideal Client Avatar. You must be able to prove that your customer base exists
on the Internet. * Competitor Research. Evaluate their sites
through a SWOT (Strength, Weakness, Opportunities, Threat). In some cases, it is even a good
idea to buy their products in order to determine differences along the entire sales chain.
* Advertising campaign * Paid
* Similar domain names, List buying
Print ads Social Media Ads
Google/Bing Ads Organic
* Banners, * Email blasts,
* Newsletters, * free trials
* Google My Business Page * Guest Post for online publications
* Guest Podcast *
* Pricing structure. * After extensive research of your competition,
you should be able to provide good reasoning for your price point. Explain special offers,
sales or holiday pricing, if applicable. *
* Your payment and fulfillment process. You need to provide a secure checkout environment,
so consider offering PayPal, Stripe, Square. In today’s Internet environment, where the
customers post reviews, it is important to have a smooth and fast checkout process.
* * Team Expertise
* This most likely is just you. That is fine. Put down your experience and it will grow
as you build and grow your business. Financial Forecasting
Some of the expenses you will look at is as follows:
Equipment Incorporation Fees
Taxes Permits & licensing
Domain hosting & email Software & platforms
Internet Transactional Cost I go into more detail and numbers in my video,
�Cost of starting online business� Also forecast your income (how will the business
make money): Here are some suggestions:
Digital Products Affiliate marketing
Speaking Project Plan
This should include some of the following: Date of launching your business
Marketing initiatives Client Journey (products you will offer to
the client to keep them in your orbit) Loan repayments (if applicable) this does
include money received from parents/spouses or family.
It is not only important for the business, but it is a practical way to ensure your business
follows its path. It should be changed weekly or monthly. You
can cross off minor and major milestones as you hit them. Exit Plan
Planning how you exit your business is just as important as how you start it. The goal
is to maximize the value of your company before converting it to cash
This will differ for every business, and for every person.
Questions to ask yourself: Is your goal to get the site started and sell
to an investor? Is it a 5-year project for you before you
move on to another venture? Is it the business you want to stay with?
Defining these objectives early on, and thinking more long-term, can help you to get your business
up and running and keep your goals in check. Executive summary
This summary should be placed first on your plan, above all the previous sections, but
it should be completed after you have created the other sections and have a firm grasp of
the details. Summarize the company, its mission and financial and organizational strategies.
It should be a quick view of the business. Let�s quickly Recap the online biz plan
components: Business summary
Marketing plan� Financial Forecasting
Project Plan Exit Plan
Executive summary Since you are in the beginning phase, I have
a something for you to help you with Launching your business. By knowing what it takes to
launch your business, it will help you with putting together this plan. Find my Online
Biz Launch Roadmap below � there�s a link below this video where you can download it
entirely free. Thanks for watching! Go ahead and like, comment,
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