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