A Business Plan

One of the first, and most important, things any new online seller -- any new business person for that matter -- should do is create a business plan. There are many examples of formal business plans in a variety of formats but even if it is just a simple, hand-written, outline of what you want to do, what you will offer for sale, how much time you plan to commit to the effort, and what kind of return (income) you are expecting, you need to commit your ideas to paper. Taking the time to create a business plan, and then to review and update it regularly, probably once a quarter at minimum, may well be one of the most critical things you do to get your business started and to progess along the road to your business success.

Many new sellers (and a lot of not-so-new ones!) ignore the need for a business plan. Either they don't think it is important or perhaps they expect they will get around to it sometime later. Both of these, and any other excuses they might make, are a blue print for failure. You need to know what your are planning to do, what your plans involve, and you need to check your progress along the way. It's the only way you can monitor your progress and adjust your focus when changes are needed. A business plan is the best way to do this.

Sometimes writing things down and then looking them over lets you see errors or omissions you would not otherwise notice. You may think you can't write and, therefore, there is no purpose trying to write a business plan. Not so! There is a whole section on this website devoted to business plans. You will find it listed in the menu to the left. Check it out. Read about what goes into a business plan. There is even a business plan outline that you can flesh out, in point form if necessary, to produce a workable business plan for your business. That's a great starting point. As you progress with your business and, from time to time, review your business plan you can add to it and adjust it to coincide with your changing needs.

And remember: a business plan is always a work in progress. Take it out regularly. Review and up date it as necessary. Don't be afraid to make changes, additions, or even to scrap whole sections and start over. Building a business is an on-going, dynamic, process with lots of twists and turns along the way. Starting with a business plan is a good first step. It may be your best first step!