Too many people make the mistake of jumping into an online business thinking having a website and driving some traffic is enough. You'll quite soon run out of steam. You must have a reason why you're doing all this.
1. What's your big reason for starting up your internet business? Can you write it down in one sentence? Just to say that you want more money, even if you can give the exact amount, is not enough. It's really about what sort of life you want, and you need to be able to define that life in as concise way as you can. Once you have a clear and long term reason for doing something, it makes it much easier to see it through. That is, your business strategy is your means of succeeding in your business in order to achieve your life goals.
2. The actual business strategy, then, needs goals, objectives and actions to be taken to achieve them. What sort of business you want will be determined by what sort of life you want to live. Some people, for example, would want more personal and face to face interaction with customers, while other people would want as little interaction as possible. You build such things into the vision you have for your business.
3. Write out your strategy, showing the inter-relationship between the different parts of it. For instance, it's no good having a goal which turns out to be a daily action. Draw a flow diagram of how you'll get to your goal, and life you want, from daily actions you'll take.
By Joe Fuller
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