It’s wise not to rush in eager without some form of preparation. Instead position and plan your business from the very beginning.
Most people don’t do this; and then, most fail. Be honest with yourself and your goals. What would you really like to achieve? What outcome would you like your business to have? There’s no pressure to create the next Google.
Would you like to own a small business? Perhaps you want to keep your day job, but earn some extra money on the side. If so how much profit will your business need to make?
Maybe you would like to create a quick flood of money and then move on to a new business? When you take time out to set yourself up for success and long-term profit, you can plan what to do in your business to ensure that happens.
The ideal position to be in, is where your product holds authority over your niche—where you lead in one powerful aspect, where no one else can threaten or touch you.
As well as setting yourself up for profit you have to be aware of your weaknesses. What are the main challenges that will impact your profitability and your journey getting there?
For many internet marketers it may be a fear your website simply disappears into Google’s ‘sandbox’. Is Google the main barrier to your business succeeding or not?
If so, what will you do to minimize the risk of this happening, and what are you doing to prevent this being the death of your project if it were to happen? Some things may be beyond your control, but planning for alternative solutions is not.
Is There Demand for Your Product?
Demand is needed for the success of any business. Without demand for your product, your business will never get off the ground. Unless of course you can create demand, but this is not for the light hearted, nor advised for the beginner.
For example if you sell food, people need to eat. That said, a lot of food is luxurious and not strictly needed, so it becomes a want. And it is often food that is ‘wanted’ that sells better than food that is ‘needed’.
Using Mark Joyner’s analogy… if you find a thirsty crowd, you’ll instantly have customers if you sell them water. If you‘re the only person selling water, you don’t need to create a sales letter. They’ll buy from you the moment they know you have what they want. This makes business a whole lot easier!
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