Internet Business Plan Overview

Many individuals wish to establish an Internet business without having an Internet business plan. Having an online business holds plenty of advantages over a traditional bricks and mortar business. For one, the leverage that the Internet brings is unmatchable. With the Internet, you have the power to reach thousands, even millions of potential prospects and customers. Yet the incomparable flexibility and market reach of the Internet demands having an Internet Business Plan to increase your chances of succeeding.

A major problem with establishing an online business is that some people, especially those who are not too computer and Internet savvy, become intimidated by the concept of earning an income using the Internet. It does not help that there are so many so-called gurus that claim to have a magic formula that can make anyone rich online. To make it easier for people to become Internet entrepreneurs, a good plan is needed. This Internet business plan overview will provide a brief review of two of the most popular internet business plans available, Wealthy Affiliate University and One Week Marketing.

Wealthy Affiliate University
As the name suggests, Wealthy Affiliate University (WA) is modeled after an actual school where you have the privilege of being taught by some of the most successful Internet marketers in the world and where you will have thousands of active members who are more than willing to be helpful classmates. Wealthy Affiliate’s Internet business plan is to teach the various aspects of Internet Marketing in a broad-ranging, paced process.

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Integrative Business Planning – Managing Complexity

Introduction

Business Planning is normally done when a business plan is needed for financing purposes or to use as a guideline on running and growing a business (as a start-up or for the next time frame). Many crucial features of a business need to be addressed and balanced in this planning process. Various options, problems and risks relating to these features will be considered.

Entrepreneurs often assume that one variable has a linear relationship with another (e.g. $x spending on marketing will create $y income in sales). Business is, however, seldom that simple. Many multi-directional relationships tend to occur between the various features. Sales would for instance also be influenced by product quality, price, etc. Sales on the other hand will influence future expansions. To cater for this phenomenon an integrative business planning process is required.

Crucial Issues in Business Planning

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11 Reasons You Need to Have a Business Plan

  1. You need to have the opportunity to be able to formalize your plans. By going through the motions of creating a plan, you get to write your thoughts on paper allowing you to organize thoughts more effectively.
  2. A Business Plan will put you in a better position and give you a better chance for success.
  3. Do you plan to approach a financial institution or a venture-capital firm for funding. If so you will definitely need a business plan.
  4. By creating a business plan, the process will help you to create Long Term Goals, Mid-Range Goals and Short-Term goals.
  5. Helps you to determine resources needed to assist in the operation of your business.
  6. Helps to identify obstacles and challenges you may face each day thus allowing you to make clearer business decisions with more confidence.
  7. Will help you to learn things about your business you didn’t realize before, this will help with sounder decision making in the days, months, and years ahead.
  8. How do you know if your idea is viable? Preparation of an Internet business plan is a great way to get the facts to provide proof your business idea will be worth investing more time and money into.
  9. Improve your strategy – Test different assumptions related to your market through your own Internet business plan strategy. Through the use of spreadsheets you should be analyzing financial scenarios and refining your strategy as needed. Review various costs, prices and market conditions related to your market and experiment with different scenarios – “Be Open to changing your approach and plans accordingly.”
  10. Creating your customized Internet Business Plan gives you credibility by showing people you are taking your on-line business venture seriously. Taking the time to research your business project and the market demonstrates your commitment to success.
  11. Keep your company focused on results – As your company grows it is important to compare business progress to your projected goals as well as objectives. It is important to your success you evaluate your company’s progress and ward off possible problems which could arise. A business plan will help to keep your company focused on results and on track to succeed in your chosen market.