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Online Business

How Anyone Can Profit From Internet Marketing

If you can think up a concept for your business you can profit from Internet marketing. In actual fact it does not matter how old or young you are, there is something for everybody when they start an Internet business. You need to develop a successful system, stick with it and duplicate your success.
The 5 keys to success are as follows:
1. Develop a concept: your business idea or concept is very important. It is one of your key foundations of your business. It is important to like what you are doing and not just be in it for the money. Of course you want to make a profit; it is a business after all. However bear in mind you will be spending quite a bit of time to create and run your business. for this reason you should love your topic and be enthusiastic about it. In this way you will succeed because you are doing something you love to do.
2. Define your market: Understanding your market is one of the critical aspects of your business. You will need to analyze your visitors and be in tune with their wants and needs. You will also need to know where they go and what publications they are interested so you know where to market your business.
3. Set goals: setting goals is important, when you set goals and decide on timelines to complete them you will stay focused on completing them and progressing with your business.
4. Develop an action plan: you will need to set up an action plan to achieve your goals. The easiest way to do this will be to create milestones; for example 3 months, 6 months, one year and set goals for each milestone. You can then think of ways to accomplish these objectives. Put these methods into an action plan and record all your results good and bad.
5. Duplicate your successes learn from your mistakes: one of the fun things about business is that no two days are the same you will make mistakes and you will have successes. You need to learn from your mistakes and pick yourself up after catastrophes. An example if this would be Donald Trump, you may or may not like him but many people have respect for him when it comes to business. He has had spectacular crashes but has always picked himself up and risen to glory again. This is because he never let mistakes and crashes crush him.
So make your system with these five points and start enjoying the thrills and spills of Internet Marketing no matter who you are and how old you may be.

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Online Business

How Do I Know If My Business Idea is Viable?

How do we know if our new business idea is a viable one? Most people will do some research, write out their plan, but the critical mistake is thinking from the top down instead of the bottom up. You’ve heard it before – “If I can sell to just 1% of the population in China, I’ll be a millionaire!” – Some of us laugh, but people with ideas really do think this way! Bottom up thinking is the exact opposite – What will it take to get just one customer? How about five customers? Fifty? One hundred? And so on. You create a strategic plan on how exactly you are going to get the business off the ground, and how you’re going to get customers and make money.

Like all entrepreneurs, I come up with ideas almost daily. I write them all down in my “idea notebook” (it’s a notebook I carry with me to jot down notes and ideas when the come to me) – then later, when I am deciding if I should move forward with them, I run the through this filter to determine if it’s worth pursuing.

Create your value proposition

Why would the customer want to buy from you? What additional value can you provide them that they don’t already get? Many buyers don’t necessarily buy on price alone, so being the lowest price doesn’t guarantee business.

Figure out what your core competency is. As you are doing this, make sure it fits with #1.

What is the one thing you want to do better than anyone else? Focus the business and everything you do around this core competency (Think Southwest Airlines – every decision they make is made sure it’s consistent with their core competency – The lowest priced airline).

Figure out who the potential client is, and how the market is. Look at #1 to make sure it’s consistent and fits.

Who are you going to sell to? How does this affect your marketing efforts?

Figure out what your product or service is. Look at #1 to make sure it’s consistent and fits.

Figure out how your distribution and sales will work. Look at #1 to make sure it’s consistent and fits.

Who is going to sell? How will distribution, shipping, invoicing, etc. work?

Do you solve an existing problem? Make sure you’re not creating a problem, and then solving it

Is there a problem you see in the industry or market place that you can solve? People are always looking for solutions to their problems. Be careful not to create a problem that doesn’t exist, then trying to solve it.

This simple filter, if you stay honest to it, will help you create a solid plan for viable ideas, and weed out the ideas that aren’t worth pursuing, thus saving you time, money and effort that you can dedicate to the ones that do pass through the filter.

Read more of Josh’s business articles at his blog []