Online Businesses – The Traps
Making money online, many try it and fail. Weather you are selling a product or service, or growing a team, you need people. No matter what you are doing or plan to do you need to get people to your site. If you are building a team using the internet. Most people don’t make it because the business or prospect system is not Duplicated even if they get a few people in their business they quit because they run out of leads or money to buy leads.
Is your business able to be Duplicated? Many businesses out there are not able to be duplicated easily, but we are told they are. Unfortunately I have been fooled into all types of businesses so I am probably the best person to talk to you about the Traps They all have and how to avoid them.
Some will have you making calls to strangers and have you buying their hot leads. The worst have you calling and talking to your family and friends. When it comes to making calls to get prospect this is very difficult and not able to be duplicated for a few reasons. I tried this and had to make the calls and buy the leads but the so called hot leads were really not so hot and the leads were not people looking for what I was offering they were just people that were curious or internet surfers etc.
The leads most of the time have been sold to others companies as a HOT lead, so by the time you call the prospect they have received many calls and are upset with you calling them. So the rejection rate is very High you can get some really nasty people when you call them and you are interrupting Their Dinner, favorite show, family time, etc… This is Not Easy to Duplicate! Even if you get someone in they will most likely not want to go through what you had to do and go through all the rejection to get someone interested.
The key is to be in a business that shows you how to generate hot leads that are waiting for you to contact them. There are programs were the leads pay for themselves and you can even make a few dollars even if no one joins your business or buys your products.
Online Business – The Biggest Barriers to Success Online
I think that one of the biggest barriers to getting rich online is the constant negativity from those around you.
I made $125 the first month fulltime online. I worked about 200 hours – I was working for about 60 cents per hour. The next month I doubled that. $1.20 per hour. That would cripple most people. But I had faith in what I was doing. The fourth month I made $2500 online. If I had given up at 60 cents per hour, because other people thought I wasn’t making enough money, I would still be going to work for someone else from 9-5. Now don’t get me wrong – I still work 9-5 or 9-7 and sometimes until midnight, but I am working for myself. What if I had listened to negativity of those around me?
You have to simply block it out. Do not let it affect you. Tell people you don’t want to hear the negativity. If they don’t respect you, stop spending time with you. If they asked you not to talk about something in their life, you would respect that, wouldn’t you? So don’t feel like you have to keep spending time with them if they won’t respect that.
I think another big barrier to success online is the tendency to jump on every new bandwagon that comes along, to join every new program that comes along. I can tell you this, there is not get rich quick scheme online that will really get you rich quick. And if you join a new program everyday and promote a new scheme to your list everyday, you will not succeed and your list will quit opening your emails. Commit to building a solid business online, and do not be swayed. Simply refuse to get involved in anything unless it fits into your plan.
Business Plans
One of the most important documents that every business will need to construct and produce is their business plan.
These plans have a variety of uses:
They can assist a company when raising investment or funding; and They can assist the management of a business with the direction of the business; and They can assist management by providing a tool to measure and monitor business performance.
The fundamental areas which every business plan should consist of are:
· Objectives
· Description of the current status
· How to achieve the objectives (strategy and tactics)
· Consideration of the risks
· Financial budget
A business plan should contain details of the organisation’s objectives, and these objectives should follow the SMART (Specific, Measurable, Actionable, Realistic, Timed) framework, to ensure that the company is capable of realistically achieving them. For some organisations their objectives may be very straightforward such as growing revenue and profitability by X%. For others it may contain a multitude of elements.
A description of the current status may be a volumous exercise. Generally this would include a description of the current business objectives, operation, key personnel, skills gap; customer base; key suppliers; historic financial performance. Of course every business is different so the focus on a specific function will differ from one plan to another.
In determining how to achieve the company objectives often the company will need to consider researching the market and understanding not only what is happening among their direct competition but further afield more generally within the economy.
The research and analysis conducted may follow certain well known models such as a PESTLE analysis (Political, Economical, Social, Technological, Legal and Ecological) and a SWOT analysis (Strengths, Weaknesses, Opportunities and Threats). Other research and analysis may be less structured.
By understanding the market and the internal capabilities, the company is able to conceive realistic business objectives for the management and the team to achieve.
With any plan there are risks and these will need to be considered at length. Such considerations may simply be:
What happens if sales run at 75% of last year What happens if there is a delay with our ecommerce website What happens if a key member of staff leaves Or, something more complex.
The risk analysis will allow management to put in place contingency measures that are essential for both safe-guarding the prospects of the business and for the successful delivery of the business objectives.
By setting a financial budget the management team are able to determine and control what financial resource that is available will be utilised to achieve their objectives. In some cases the business may need to seek additional working capital to be able to forge ahead with its plans.
The process should not just be something that you feel you ought to do before the beginning of the financial year. It should be something that is reviewed and updated throughout the year. Companies that plan ahead, document their plans, communicate it to the team and constantly benchmark performance against the plan are most likely to succeed.