A business plan is the first important step in effective Internet marketing. One reason that a franchise is so popular is that they present a plan. A business plan is vital in business as well as in effective Internet marketing.
The first thing you need to decide is whether you want an Internet marketing business or just an Internet marketing hobby. There is not one thing wrong with making a few extra hundred dollars a month when you are doing something you enjoy. However, that is not a business. It is more of a hobby.
Effective Internet marketing is when you are able to treat it like a business. The first part of your plan should include your long range strategical goals. As an example:
1. How much money do you want to make?
2. What resources do you have to get there?
You may have heard the popular saying from Steven Covey, “begin with the end in mind.” You should look ahead 5 years and plan on where you want to be then. You will then be able to plan backwards the way in which you can get there.
Divide your plan into long term (5 years), mid term (2.5 years), as well as quarterly, monthly and daily objectives. You will then be able to stay on track to meet your goals.
In addition, you should develop a system for all that you do. For instance, if you plan to outsource content writing, a system should be set up where you hire writers and tell them how to deliver the content to you. With a systematic plan, you will have a better result.
A person once posted a question wondering why his writers never gave him article titles. Someone responded with, “did you ask them to?” When you hire a new writer, they will understand exactly what you require of them, if you have a system in place.
Developing a budget and sticking to it is effective Internet marketing. An Internet hobbyist will purchase every new stratergy or course that comes on the market. They are attracted to all of the shiny new methods and may buy a new course or domain name and then never use them.
A person who is operating an Internet marketing business will successfully move their business forward if they stick to their budget. As you put your Internet marketing business plan together, you will see that you will make more money. No longer is it a hobby that you play at on evenings and weekends, it begins to look like a genuine business. After some time of following your plan, you may be able to quit your day job and the money you make online will replace that income.
Many people have done this. However, there are many more that have not stuck with a business plan and find that Internet marketing does not work for them; because of that. Decide if you want a business or hobby. Your answer will determine the amount of success that you will see. Just remember that effective Internet marketing starts with a plan.