by Jimmyvanilla

Created on: August 07, 2008

The first step in creating an online business is research and planning - lots of it. I've been involved in online business for several years, particularly in the area of internet marketing and sales and as I've become more successful I've noticed that I've been doing more and more planning and preparation than in times past. I can't say this with enough emphasis. Map out what you intend to be doing and then spend a long time looking at what others are doing and what other's are teaching about it. There are just so many questions that you need to be able to answer before you start, otherwise you will find down the track that you are not able to make changes to things you have done to accommodate them when they come up. At best you will have wasted your time and/or money(if anyone's got any of that spare please look me up!)

The first question that you should ask yourself is what are you going to be in the business of?

The internet is a huge place and there are a lot of people online at once, but that doesn't mean that you should try to trap them all into your net. It's too big a pie and there are too many competitors out there to try that. Narrow down your focus. Go microscopic. I've found over the years that it's far better to have several businesses each operating independently in narrow niches than to have one big business trying to take it all in. I just got swamped in these and could never keep up with the work that I needed to do to 'do it all'. If you have a big budget then this kind of broad approach may be possible because you can employ people to take care of many of the jobs. But most people creating online businesses at the moment are individuals looking for a bit of fun and freedom and a small income. If that's you the start with a sharp focus on your niche and don't stray.

The second question is why are you in business - maybe that should be the first.

It sounds funny and without experience many people don't understand this, but a goal to make money isn't very effective in motivating you to succeed. We all need money. We need to eat and put a roof over our heads, but when we start to acquire it, it quickly become of lesser importance and that's when your interest will start to fade in your online business. You need more than that and I've found that the best motivations are those that ultimately allow us to help some cause, be it personal or political or otherwise. What is something close to your heart? What/ who do you love? What skills/interests/experience

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