Starting a small business Online – best business planning practices

The Internet is something so vast, so convenient and so filled with opportunities that using it as a medium when one is starting a small business of one’s own seems like the most obvious thing to do. There are an enormous number of people that can be targeted, in fact there are close to 2 billion people using the internet in one day! However, like any other business start up, it is certainly necessary to devote a whole lot of thought, and you will have to devise a sales and marketing strategy, as well as the platform.

Best business planning practices – Steps

1 ) Idea

Having a solid idea is always the first step to business. One must look at the various options available after that, and expound on these. It could be possible that you know something that is not yet on offer on the Internet, and can provide. All this and more, will help you

2 ) Target market

The Target Market should always be identified, and. For instance, if teenagers are being targeted by the  product, social networking sites like facebook and Myspace can be harnessed so as to promote your product, as these are where teenagers are to be found on the internet generally.

3 ) Competition

Get to know who your competitors are in the business. The Internet is something humongous in its size, and you must know what part of the ocean you are diving into. This will help in the assessment of your business.

4 ) A Space of your own

Make sure that one has a space of one’s own, where goods can be displayed and sold, just as in a store. Get a website built, or have ads posted on sites such as e bay, Etsy and other sites. You can also use Social networking sites, just remember that sending spam mails and posts to people on a regular basis will not endear you to them.

5 ) Create Trust

The internet has scores of scammers that have blighted the reputation of many credible companies. Make sure that you build credibility, also with respect to creating a positive Halo effect with your website and by your policies.

Finest Business Practices is the best resource for all manner of business topics.

via Posterize