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Establishing a web-based enterprise does not require a large capital investment compared with having a bricks and mortar physical location. But the tremendous opportunity created by the Internet comes with an equally tremendous challenge: Think long range, a three-year to five-year time horizon.
Perhaps your vision web-based business plans to be the leading Internet marketer of books, music and movies that appeal to the over demographic. This vision will shape the design, content and themes of your website--as well the types of affiliates and advertisers you can attract to your site.
Develop your business model--the revenue streams your company will have. Determine what mix of products and services you will be offering through your website.
Include revenue streams specific to Internet companies, such as membership fees, downloaded e-books and software or web hosting. Design your model so you can market more than one product or service to each customer, and encourage each to be a repeat customer.
Determine your marketing strategies. The key to success in starting an Internet venture is devising marketing strategies that will bring large numbers of visitors to your site, and do this on a cost-effective basis.
Viral marketing, using your customers or visitors to introduce your company to other potential customers, is a powerful way to use the social networking aspect of the Internet to your advantage.
You may think your idea is unique, but it is highly likely competotors' websites are doing something similar to what you are. Take a critical look at their websites and marketing strategies. Determine what you intend to do better, how you will provide a superior overall experience for your customers.
Describe the human resources you need. In the beginning, your management team might only be you, or you and a partner. But you will need other resources, such as a web design firm familiar with your market niche, a credit card processing firm and perhaps an Internet marketing adviser.
Provide the reasons you chose these particular firms or individuals, and why they have the right mix of experience and skills.
Start with a simple revenue model that projects number of visitors, and conversion rate to customers, for each product or service you will be offering. Run a number of scenarios for years one through three until you are comfortable the numbers are reasonable.
Unrealistic financial projections are the No. Don't waste precious marketing resources on experimentation.
Websites often provide free information as a way of keeping customers at the site, or getting them to come back. Changing the content frequently encourages customers to visit the site more often--a powerful marketing strategy.
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Web Applications, Inc. online services business plan services. Web Applications, Inc. is a start-up Application Service Provider, offering Web-based business management applications. Unrealistic financial projections are the No. 1 mistake venture capitalists believe entrepreneurs make in their business plans, according to a .
Business plan template. SME Pals' template comes in a pretty standard format, and is intended for small or home based online startups. But, what makes this particular plan unique is that it has plenty of links, resources and advice that will help you find the right information quickly and easily.
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