| So you're considering an online business? | | | | With SBI you will not need much more. They |
| First, you need a business plan before having | | | | have the complete package. In fact, they are |
| an internet business start up. You need to | | | | the only "All-In-One" package for anyone who |
| know what you need, where you are going and | | | | wants an internet business start up or not. |
| how long it will take you. | | | | |
| | | | Needs |
| "The business plan is a necessity. If the | | | | |
| person who wants to start a small business | | | | I have found outside of a computer, a high |
| can't put a business plan together, he or she | | | | speed line and a business license you are set |
| is in trouble," says Robert Krummer, Jr., | | | | to go. Remember that SBI! has it all, you do |
| chairman of First Business Bank in Los | | | | not need to purchase another service. |
| Angeles. | | | | |
| | | | Time Management |
| This goes for any business, including an | | | | |
| internet business start up. In fact, I feel | | | | This is a very important factor. How much |
| it is more important for online businesses. | | | | time do you have to put into your new |
| This can be one reason why there are so many | | | | internet business start up? You need to |
| failures. | | | | determine this ahead of time. Why? Because |
| | | | working on your online business will make |
| To start any business you need to think it | | | | time fly by and you need to put a reasonable |
| through. If you don't you may not end up | | | | limit on it. Remember studies, social life |
| where you think you want to go. There are 4 | | | | and family. |
| core questions that you need to answer before | | | | |
| you go on according to the US Small Business | | | | I will be writing more on time management in |
| Agency. | | | | the near future. |
| | | | |
| The 4 Core Questions Are: | | | | Set Your Goals |
| | | | |
| What service or product does your business | | | | This is also a very important part of your |
| provide and what needs does it fill? | | | | business plan. You need goals that you want |
| | | | to meet over the short term, one to 6 months. |
| Who are the potential customers for your | | | | For example, you want you Web site up in 1 |
| product or service and why will they purchase | | | | week or 1 month. Or you want to have 4 |
| it from you? | | | | articles written within the first 6 weeks. |
| | | | |
| How will you reach your potential customers? | | | | You also want long term goals for an internet |
| | | | business start up. These usually take the |
| Where will you get the financial resources to | | | | time line of 6 - 12 months to 2+ years. They |
| start your business? | | | | usually are around number of sales, profit |
| | | | goals or number of members. |
| As I mentioned in the "4 Basic Steps to a | | | | |
| successful Web site" ( the first is to define | | | | Good Sources For More Info |
| your niche market. You can do this easily | | | | |
| through SBI!'s Brainstorm It! | | | | Some good resources include the U.S. |
| | | | government Small Business Administration |
| Financial Needs | | | | (SBA.gov), starting a business. Remember if |
| | | | you have a good business plan they have loans |
| Once you have your niche, the next questions | | | | for online business start up's. |
| come easily. The last point about the | | | | |
| financial resources are important. Depending | | | | Another good source for internet business |
| on what your niche business is and whether or | | | | start up is the SBDCNET. They have partnered |
| not you will need to have inventory will help | | | | with the SBA to give you a great deal of |
| drive your financial resources needs. | | | | information on ecommerce. |
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