Business Plans

by Justin on November 6, 2009

Balder, six months old, in the garden.
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To start any business to dramatically increase your chances of success you you need a business plan, sure there are exceptions to this rule but without planning it is extremely unlikely. Online Niche Marketing is really no different, whatever the glossy websites and hard selling copy would have you believe there really is no substitute to hard work.

Just to recap niche marketing is marketing product or services to a small portion of the market that is not easily covered elsewhere. Online Niche Marketing is typically analysing gaps normally through keyword analysis, more of which I will be covering later and then creating a website to fulfill the needs of that gap. Everything from Macdonalds to Walmart to the intriguing Frank Kern began their businesses to fill perceived market voids. Niches can be anything from specific areas, to genders to drilled down demographics like owners of Weimeraners.

Before thinking about writing your plan you need to ask yourself:

  • What Niche Markets you wish to serve. In the case of online Niche Marketing it is often a question of choosing a number of different niches with highly targetted keyword research.
  • Make sure a business is compatible with family and professional goals
  • Determine what resources you have
  • What resources you lack, and how to fill them

You then need to write your business/marketing plan.

This should cover:

  • General description of the business
  • Market analysis
  • Mission statement
  • Objectives and strategies
  • How you will operate the business
  • Projected sales
  • Financial plan
  • Sensitivity or risk
  • Sources of help
  • I will cover this in greater depth in future posts so please do stay posted or just sign up to our mailing list on the left.

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