The 9 Steps to mount a profitable internet business
I’ve always thought that an entrepreneurial process involves some mental disorder. It is normal, involves many important changes for starting that journey. Another thing that does not help to bring order is the emotionality of this stage. There are a lot of passion involved, hyperactivity and fighting spirit.
I have personally seen these situation different times and in the end almost without realizing it, I became a guide of the steps, but rather to solve for a business aspires to be profitable on the internet.
This brief guide consists of the following steps:
1- Do you want / need this? (Personal SWOT) sometimes has happy ideas that last only a few days, and in others it is actually a vital need to undertake this project. In this direction I at least I have always risen if my skills are in tune with that business and of course, if the opportunity presents itself, deserve all the subsequent effort.
2- Business model and value proposition: when you’ve already decided on a personal level, tap achieve as detailed as possible to answer these two questions for capital profitability of your online business:
– How I will allow this business to make money? Marketplace, advertising revenue, subscription…
– What will highlight my business? It provides a differential value? Why I will buy me?
3- MVP: A common mistake is to develop an enterprise without having validated information on its feasibility. You really do not know if customers will respond and the only way to check is by throwing the market. There is a very good phrase that says:
– “Often fail, fail fast, fail cheap”: This line is the MVP methodology: “viable product Minimum”. It is proposed that the minimum viable product you design your company and validity in the real market.
4- Your client: Who are your customers? To respond to this there are 10 essential things you should know. This allows you to make a real empathy exercise.
5- Finance: very dense topic, I quickly define some key concepts:
– Define cash flow in all possible scenarios. You need to know how money moves into your project.
– Necessary for market investment.
– How much does capture a customer? Draw financial scenarios with your first 10/20 and 50 customers.
6- Your online marketing plan: I will not be the one to say that this part is not important broadly and well above:
– Traffic Generation Techniques.
– How to communicate your value proposition.
– Optimization and measuring results.
7- Your website: You need a web environment able to express the values of your company and persuade visitors to achieve higher levels of involvement (leads, sales ..). Highlight:
– Attractive web design that raises a good first visual impact.
– Web usability that does not impede obtain a correct conversion%.
8- Product and logistics: projects such as any ecommerce have certain peculiarities to be treated separately:
– Storage and management of the production space logistically.
– Delivery times, return policy, wholesalers…
9- Constitution of the company and legal issue: here almost certainly need specific advice for:
– Incorporation of the company, tax obligations…
Do you think I left some important step?