Sky Business

What every newbie needs to know about affiliate marketing

2008-06-19T03:12:00.000-07:00

Research increases your chance of success
By Dan Lok

Affiliate marketing is attractive to so many people because it solves many business problems. You don’t need your own product, there’s no payment processing, and no product fulfillment. And the income potential is huge.

Put all those together and you have a highly competitive marketing environment.

But there are a lot of things you CAN do to increase your chances of success.

Perhaps the single most important initial activity is research. And what will you be researching?

Not all affiliate products, networks, like Commission Junction, or affiliate managers are created equal. The affiliate manager is the person on the product business side who manages their affiliates, payouts, compliance issues… everything.

So you’ll need to join the best affiliate networks you can find. Just a few include Clickbank for selling informational products, and Commission Junction for selling physical products, subscriptions, etc. There are others but those two are probably the most well known.

Some companies do not belong to affiliate networks. They have a link on their websites and manage everything in-house. If you’re ever considering joining a privately operated affiliate program, just be very sure to do your due diligence with them. They’re basically accountable to no one. And they do know that.

But even within established affiliate networks it’s very important to research potential affiliate partners. Usually information is provided to help make an intelligent choice. You can find data such as affiliate earnings per week, month, or quarter. The better networks provide valuable information like refund rate, info that will give you an idea of how saturated the market is, trend data about popularity, etc.

Simple research

One very simple research device is going to Google, Yahoo!, or MSN and searching for any negative comments about a particular company or product.

You can search for specific comments using quotes. Enter the product or business name and common, everyday descriptions even you would use if you tried the product and didn’t like it.

Try it! You’ll be surprised at what you can find.

If you’re serious, and you should be because it’s a serious business, try contacting the affiliate manager and just ask some good questions. What you’re looking for is response time and your feelings about the reply.

I’ve had experiences in which the email bounced because the affiliate manager’s inbox was full. And an unfortunate dark side to affiliate marketing is that some affiliate managers will be less than truthful. About what, you ask?

Oh, things like how well their program converts. Retention rates in the case of subscription sites. Things like that.

Hey… not trying to discourage you! But you need straight talk about this. You’re about to spend your valuable time and money. So you need to know the truth.

You’ll want to research the compensation plan, or payout. Lots of people love Clickbank because the payout on info products can be excellent. A good rule of thumb with info products is to shoot for $20 or more as your affiliate compensation per sale. There are other factors to consider such as how you’ll be marketing whether pay-per-click, by your own list, or other means.

These are the kinds of things you need to think about.

Don't pay

One important item is this… don’t EVER pay to join an affiliate program. Never! Most are free and you can literally find thousands that don’t require you to pay in order to join. There are some who won’t allow you to join if you’re not an established marketer. But don’t let that discourage you at all. Actually that “could” be a good indication that they’re very serious, have good products, and they treat their affiliates well.

Affiliate marketing can be extremely lucrative if you approach it properly. First, have an attitude that it’s a serious business. You should do that because it IS serious. And that will reflect in your efforts. Secondly, be patient… please. It’s NOT a get rich quick scheme! Approach it systematically and just put one foot in front of the other each day. If you focus, learn, and persist there really is no limit to what you can do… or earn.

reference : http://www.associateprograms.com/articles/603/1/What-every-newbie-needs-to-know-about-affiliate-marketing

The required mindset for online success

2008-06-19T03:06:00.000-07:00

How to make $1000 a month online from scratch
By Jay Stockwell

Put simply, for most of you, the biggest hurdle you’ll have to earning $1000 a month online is your own mind. This guide provides a blueprint of practical steps to direct you towards success. However, it’s one thing to say and quite another thing to do.

Most of the time, motivation is not the problem. No, it’s the sneaky mental enemies that you have to watch out for. There are two in particular I’m thinking about.

The first enemy of the mind is self doubt. If we have self doubt, it will erode everything we do. There is a saying I live by that says, “You will go where you look.” This means simply, if you expect to fail, you probably will.

You need to have the right attitude if you want to succeed. I’m very aware that I’m sounding like a Tony Robbins infomercial, but the raw fact of the matter is that your attitude will determine whether or not you succeed.

It will dictate how hard you work, how enthusiastic you are, how willing you are to learn, how persistent you are and how committed you are to succeeding.

The second enemy of the mind that you MUST get a handle on is overcoming distractions. Once you start your little online venture and you start looking around the Internet for information on this stuff, you’ll be presented with thousands of conflicting opinions and promises of easy riches.

Trust me on this, you’re best to ignore the noise and focus on the tasks I outline. Don’t worry, I’ve seen it all. I’ve been doing this since 1999 and have been a driving force behind millions of dollars of online sales. I’ve learned over the years what to focus on and what to ignore.

This guide filters out what you don’t need to know. I would be confident in saying that there's hardly a single online marketing tool or process that I haven’t seen. If it’s not mentioned in this guide, it’s for a good reason.

If it’s not included it’s either too expensive, too time consuming, too risky, too shortsighted or too difficult for someone starting out. The trick is to focus on doing the things I’ve outlined in a methodical way. Most of it isn’t flashy, or tricky and much of it is boring. That’s OK, it’s a tried and tested process that gives you the best opportunity for success.

Action Steps
If you want to develop and refine the right mindset for success in this task, here are a few practical action steps you need to take before you do anything else. Take this seriously. It’s easy to skim over and much harder to make it part of your own mindset. However, it’s fundamentally important.

Here goes. Read slowly and carefully.

Have a Positive Attitude
Ask yourself, “Do I believe I can do this?”

This is perhaps the most important question you need to ask yourself. Most specifically, you need to ask, “If I have all the tools and resources at hand, do I believe that I can make $1000 a month online?”

Be specific. It’s OK to have some apprehension about it, but if you truly believe that you cannot do it, then you won’t. Not because it’s impossible, or too hard. It’s because you don’t have the attitude it takes.

You need to take a deep breath and purposefully state, “I can and will make $1000 a month or more online.” It certainly won’t be overnight. It may take 6 months or more to get there, but if you follow this guide, you have everything you need to achieve this goal.

Now, I can’t guarantee that you’ll do it. It’s not up to me. You need to guarantee yourself that you will do it!

Have a Willingness to Learn
Ask yourself, “Am I willing to learning new things?”

There will be points along the way where you’ll feel a little out of your depth. That’s OK. Just be prepared for the challenge and enjoy it!

Some of you will still be looking for the “Click here and get rich” solution. It doesn’t exist I’m afraid.

Many of you haven’t learned anything new and challenging for years. Get mentally ready for it.

Most importantly, don’t think you have to become an expert on everything. Just become good at the things I mention in the guide and that will be all it takes. I know online millionaires who have no idea how to make a web page. It doesn’t matter. They’ve just followed what they know works and stuck at it.

Be Committed to This
Ask yourself, “Am I committed to completing all the tasks outlined in this guide?”

This means that you will need to trust what I say. The simple fact is, if you’re not willing to complete most of what I’ve outlined in this guide, you will have dramatically lower results. Much of the instruction outlined is designed to have a snowballing and exponential effect.

Be Consistent
Ask yourself, “Am I willing to plug away at this on a regular and consistent basis?”

I can tell you now that one of the most common characteristics of people who have succeeded online is consistency. They are the ones who have consistently worked on the same thing over a long period of time. They didn’t jump from project to project. They just kept working on the same project with the faith that it would work for them.

This is one of the biggest tips I can give you. Write it on your brain like a tattoo.

Focus and Resist Distractions
In line with this, ask yourself, “Am I willing to focus on the tasks in the guide and resist distractions?”

When you start spending more time online, you’ll begin to experience the way the Internet is conducive to stealing your time and attention. One minute you’re researching content, the next thing you know you’ve lost an hour of your time on some unrelated blog. Your time is your most precious resource. Make sure you are working in your work time and relaxing in your recreation time. Don’t let the two merge together to make neither of them profitable.

This rule always trumps the “Have a willingness to learn” rule. Learn as much as you need to and then focus on the application.

Beside your “BE CONSISTENT” tattoo from above, also put “FOCUS!”

Follow the 80/20 Rule
Ask yourself, “Am I willing to focus on the things that will give me the greatest benefit, even if it means that some things are not perfect?”

This is a rule I’m constantly striving to follow. You may know the old 80/20 rule. In this case, it means that typically 80% of your profits will be generated by 20% of your work. Your job is to constantly monitor what you are doing and determine if it is the activities that are going to generate the bulk of your profits.

This guide goes part of the way in helping you achieve this. I’ve deliberately left out lots of things that might be good to do, but when you are time poor, you need to focus on the things that give you the best “bang for buck.”

Focus on Content, Not Technology
Ask yourself, “Am I willing to focus on the content, not the technology?”

This is one of the most important practical things that you need to drive into your thinking every day. I see so many people messing around with their sites, changing their color schemes or trying to make their site look so “perfect” that they don’t end up going anywhere.

Remember, it’s the content that drives the income, not the technology. Think about this. Two people have 100 hours each. The first spent 80 hours making his site look just right and 20 hours on his content. The other spent 20 hours on his site to get it close to right and then 80 hours on his content. At the end of the day, who do you think made more money?

Give me an average looking site with 100 pages of good content over a good looking site with 20 any day.

I’m sure the search engines will agree!

Change Your Mindset
Take this part of my blueprint for success seriously. The more you can master this stuff, the more likely you will be to not only hit the $1000 mark, but go well and truly beyond it.

Look out next week as I uncover, “The Idea”, the practical and step-by-step starting point to help you map out your new online business. Next week is fun and less serious, so look out!

reference: http://www.associateprograms.com/articles/654/1/The-required-mindset-for-online-success

Beginners guide to affiliate programs

2008-06-19T02:18:00.000-07:00

By Allan Gardyne | Published 01/16/2003 | Getting started |

How affiliate programs work

Brief description: You send people to a web site. They buy something, or sign up for something, and you are paid a commission.

Affiliate programs are revenue sharing arrangements set up by companies selling products and services. As a web site owner, you are rewarded for sending customers to the company.

For example, by February 1998 Amazon.com, one of the affiliate marketing pioneers, had attracted more than 30,000 webmasters giving Amazon.com wonderful publicity in exchange for a small commission on sales. (By 2004, it was over the 900,000 affiliate mark.)

These pay-per-sale or pay-per-lead programs are usually remarkably easy to join.

After carefully reading the terms and conditions, which vary from program to program, you place a link from your site or newsletter to the vendor. When someone clicks on the link and buys a product or service from the business, you earn a commission.

Harness your passion

I laugh when I see "experts" proclaiming that THEIR way is the way to make money on the Internet. There are dozens, hundreds - maybe even thousands - of different ways for imaginative people to launch an Internet business.

One way which works well for many people is to concentrate on a small niche. Choose a topic in which you are passionately interested, and create a website around that theme. Then select affiliate programs which closely fit the theme of your site and blend them into the site, using text links.

If possible, write about the products from first-hand knowledge, so that you become a respected, credible source of reliable information.

The more targeted your traffic, the more likely it is that people will buy.

The huge advantage of basing a business on a topic in which you are passionately interested is that you will enjoy running your business - it will be much more like a fascinating hobby than a job.

Select your target

Here's what the professionals do. Before they do anything else, they decide WHO they are going to sell products to. (I know that's not strictly grammatical, but "to whom" sounds awfully stuffy.)

DON'T select the product first. Select your target audience first.

Be precise. Zero in on a group of people with a particular interest or problem. Now ask yourself: Where do they gather? What magazines or ezines do they read? What websites do they visit? What email discussion groups do they subscribe to?

How can you approach them?

Is it easy to get in front of their eyeballs? You're looking for an easily identifiable target. There's no sense in building a website and then trying to figure out how to attract your audience. Do it the other way round. Decide who your audience is and then build your site.

Become interested in a hot topic

Here's another choice. Instead of setting up a site based on your favorite hobby, delve deeply and become a specialist in a subject which is hot right now.

You'll find that as you immerse yourself in the topic, delving deeper and deeper, you'll become intensely interested in it. The more you learn, the less your business will seem like work.

Here are some hot topics you can choose from:

Ebook publishing
Pricing strategies
Search engines
Autoresponders
How to create your own products fast
Dogs and cats ... and almost anything else!

You can choose almost ANY topic to be the theme for your site. However, before you begin, look in the AssociatePrograms.com directory and make sure there are suitable affiliate programs which fit your theme.

Aim to be the most knowledgeable person on the Net in your small niche. If you build a really useful site, people will recommend your site and link to it, giving you wonderful free publicity. For us, this began to happen only a month or so after we launched PayPerClickSearchEngines.com

Promote products which are in high demand

It sounds so simple, doesn't it? In fact, it's so simple it's very easy to overlook. Sell things that people want.

Information products are good to sell because that's mainly what people use the Internet for - to seek information.

Digital products have high profit margins and often have high commissions.

Bargains are always in demand. Coupon sites which offer the latest bargains are labor-intensive but have proved profitable. This is a highly competitive field now.

Jumping on new products and the latest fads can also reap rewards for the agile.

An Ernst & Young study found that the most popular products bought online are:

Computer related products (40%)
Books (20%)
Travel (16%)
Clothing (10%)
Recorded Music and Subscriptions (6%)
Gifts (4%)
Investment (4%)

Get paid - without sales

In some cases, your visitors don't even have to buy anything. If they fill out a survey, ask for a free report, ask for a free sample or perhaps download software to try, you get paid. Some affiliate networks have dozens of such offers you can promote. You're sure to find some that suit your site's theme. These are pay-per-lead programs.

Good networks providing pay-per-lead offers include:

You can find more good affiliate networks in our list of affiliate networks.

You need lots of traffic

If you already have a busy site and the product you choose to promote is attractive to your visitors, you should start earning money straight away. If you have a new, low-traffic site, you have a lot of work ahead of you.

Several times I've seen suggestions that to make reasonable money from a website you need at least 500 unique visitors a day. That seems about right IF you have a very tightly targeted audience - and also have a newsletter which gives you more income and helps remind people about your site.

Some website owners laugh at the 500-a-day figure and say you need at least five times that figure. (My websites attract thousands of visitors every day.)

Numbers alone aren't enough - you need to build trust and credibility.

Merely attracting traffic isn't enough. You have to learn how to encourage people to click on the links and buy something. So make sure you promote really good products.

refference : http://www.associateprograms.com/articles/156/1/Beginners-guide-to-affiliate-programs

Download Free ebook

2008-06-19T01:54:00.000-07:00

101 Auction Secrets Revealed	ZIP - 655 Kb
The Business Plan Road Map to Success	ZIP - 665 Kb
How to Stuff a Small Business	ZIP - 2630 Kb
How to Kick Ass Online with a Business	ZIP - 1351 Kb
101 Money Secrets	ZIP - 771 Kb
Resume and Cover Letter Secrets Revealed!	ZIP - 804 Kb
The 10 Commandments Of Power Positioning	ZIP - 1085 Kb

How To Write So People Buy Now!	ZIP - 2564 Kb
63 "Killer" Marketing Strategies	ZIP - 577 Kb
Negotiating Skills for Managers	ZIP - 627 Kb
Credit Repair Made E-Z	ZIP - 1541 Kb
1001 Newbie Friendly Tips	ZIP - 1508 Kb
Killer Internet Marketing Strategies	ZIP - 677 Kb
MLM-MarketingSecrets	ZIP - 615 Kb
The Money-Making secrets	ZIP - 1309 Kb
The Day Trader’s Bible	ZIP - 990 Kb
Unleashing the Ideavirus	ZIP - 1182 Kb
Short Cycle Selling	ZIP - 644 Kb
Sales Secret	ZIP - 1109 Kb

Starting your internet business

2008-06-19T01:40:00.000-07:00

Starting and operating an Internet business is surprisingly similar to operating any other business. Good business practices, like building the confidence of customers through truthful advertising, providing products and services at a fair price, and developing long-term business relationships, are as applicable to Internet businesses as they are to any other businesses.

Having said that, there are some important differences related to Internet businesses.

Low Start-up Costs - When you decide to start a business online, you can do so with as little as a few hundred dollars and a good idea. However, don't be misled into believing that the Internet is an arena for instant riches with little or no effort. Nothing could be further from the truth. Like any business, it takes creativity, planning, money and hard work to be successful.
Multiple Skill Requirements - Suddenly it's not enough to simply have a good product or service. To use the Internet effectively, you now need to have or be able to acquire skills in graphic design, web server technology, programming, and a brand new marketing medium, not to mention skills needed in multi-lingual translations, international accounting and legal issues. Fortunately, it is not necessary that you have all this knowledge yourself. With the right combination of strategic partners and associates, all of these skills are easily found, if you know where to look. That's where we come in! We can get you in touch with all the professionals you need to accomplish your task.
Endless Marketing Possibilities - The opportunities and ease of fostering strategic alliances to bolster marketing efforts is unsurpassed on the Internet. The reason we see so many cooperative relationships between companies online is that doing so has become so simple and so profitable. The advertising industry has found itself with many more possibilities as well as significantly more competition.
Easily Traceable Results - Another byproduct of business on the internet is that tracking potential customers as a group and visitor preferences is an ordinary part of business on the Internet. See Promotion for more on this topic!
International Audience - Even if you do not think of your business as an international business, you must recognize that your visitors are likely to be from all over the world. You should consider whether or not you are prepared for international shipping and other transactions with countries other than your own. You should also strongly consider having your website translated onto languages other than English. The percentage of non-US businesses on the Internet has risen dramatically in just the past year!
Professional Look - If you are a Web Professional who is planning and designing web pages for others, we have a secret to share with you. It's called the "Proposal Kit". What it's done for our company is help us look more professional, charge higher fees and get paid for all of our work. It's the best investment we have made since we started our business!

reference : http://www.oncallgeeks.com/

5 Tips to Jump Start a New Business

2008-06-18T22:32:00.001-07:00

Create a brand. Spend a little money to create a professional logo, business card and stationery. Present a professional image.
Ramp up Online. Make creating a Web site a top priority. A Web site is today’s calling card. You really shouldn’t do without one. Give people a place to go to learn about your business.
Make Your First Sale. This is key. Get that first sale even if it’s friends or family at a discounted rate. This counts as getting started, so go for it.
Promote Testimonials. Get testimonials from your first sales. Start building credibility for your business from day one.
Build Buzz. Be creative. Look for a special promotion, big event, email campaign or something out of the norm for your business to get people talking about you, your product or service.

5 Tips to Help You Prepare for Growth Spurts

2008-06-18T22:31:00.001-07:00

Get outside help. Growth is tricky and stressful, so smart business owners rely on outside assistance—such as consultants or SCORE volunteers—to get them through it.
Hire ahead of the need. If you’re growing fast, add a chief operating officer and/or chief financial officer—even if only on a part-time or consulting basis.
Change your own role. Stop "doing everything yourself." Delegate day-to-day operations to others and become the leader, the strategic thinker and the planner—in other words, the CEO.
Weed out customers that don’t contribute sufficiently to your bottom line. Let go of those who distract you from your goal—for example, because they are outside the area in which you want to work or take too much of your time.
Have reserve capital to weather growth’s inevitable bumps. Reserves don’t have to be all cash—they can be excellent receivables or something else that can be turned into cash quickly.

5 Tips to Avert Disaster

2008-06-18T22:30:00.000-07:00

Disaster strikes—rarely. But, when it does preparation is what can save your business. Learn more.
Safely store important documents. Keep a portable and fire safe box with insurance documents, legal agreements and a back-up of your monthly financials.
Consider your insurance needs. Evaluate the level of life insurance, liability insurance and property insurance you need. If you have none and disaster strikes you may not have the cash you need to protect your business.
Establish a line of credit. You do NOT have to use the line, but it's there for you to provide capital to bridge the disruption of a fire, flood, or theft of equipment. This is cash to be repaid that provides the short-term buffer you made need.
Document key contacts and processes. In a crisis, it pays to already have a plan in place for what to do next. It can be a massive manual or three pages. Just be sure you and your employees can answer the question—Now, what?

5 Tips to Get a Good Mentor

2008-06-18T22:29:00.001-07:00

Think about the end result. Let your mentor know what advice you want for success. Do you need advice on managing cashflow or a mentor to help keep you energized and motivated? Both are good. Be clear.
Be prepared. Share a snapshot of your business today. Share goals, so your mentor has a picture of your dream for success. Then, ask questions and listen for great ideas.
More is better. Develop a network. No one person has all the answers. Not you, your CPA, your mentor. You may want a mentor for business planning and a mentor for finance and cashflow.
Cash is king. Good cashflow is important especially at start-up and growth stages. Always, be wary of economic slowdowns. A mentor can help you plan a collections policy, make plans for a line of credit and project cash flow based on sales.
Seek industry expertise. Find a mentor who can address industry specific issues. Get a mentor.

5 Tips on Technology Planning

2008-06-18T22:27:00.000-07:00

Create a master plan for technology, just as you would draw up a business plan, a budget or a marketing plan.
Design the plan so that it supports your business strategy and goals. Use it to guide technology buying decisions.
Think of technology purchases as investments, not costs. And, remember, when you have an overall plan, your company avoids wasting money on unnecessary purchases or quick fixes.
Start by determining your company’s needs. Look at what problems need to be solved and how technology can help.
Get expert help to guide you. Check your Yellow Pages under “Computers-System Designers & Consultants,” or ask your local chamber of commerce. As always, get references.

5 Tips on Preparing for Change

2008-06-18T22:26:00.001-07:00

Examine your corporate culture to discover any impediments to change. Some traditions and practices may need to be revamped to meet new needs.
Keep talking about change so that employees think in terms of change and help make it happen.
Make expectations clear. Key employees should know that embracing change is part of their responsibility.
Monitor company procedures and systems to be sure they support change.
Plan far ahead for the biggest change of all: your retirement or exit from the company. Develop new leadership.

5 Tips on Exit Strategies

2008-06-18T22:24:00.001-07:00

Plan your exit when you start the business. Will you sell your company, pass it on to children, or take it public?
Take time to understand how your chosen exit affects business planning. Will family members need to be trained to replace you, for example?
Consider the cost of each strategy—loss of the ability to keep financial information private if you sell or go public, for example.
Be aware that your investors will have their own exit strategies. Be prepared to discuss their desired timetable for exiting your business, how they see it happening and their expected return on investment.
Plan well ahead for a satisfying life when you leave your current business. Consider starting another business, teaching, volunteering—or becoming a philanthropist.

5 Tips on Building a Sound Business Plan

2008-06-18T22:23:00.001-07:00

Write a business plan with a complete financial and marketing plan.
Your marketing strategy should be built around your strengths, your competitor's weaknesses and your customers' desires.
Test the reality of your business—know why it will work and how you will make it work. Think your business through step by step.
Allow at least two hours every week for thinking and planning. Do not allow anything to interfere with this time. You run the business. Don't let it run you.
Establish an annual operating plan. Review it and update it monthly with appropriate employees.

5 Tips for Using Colleges and Universities to Help Your Business

2008-06-18T22:21:00.000-07:00

Volunteer your company to be a business school case study. You’ll learn much about your company in the process and get good ideas for the future.
Obtain management and technical assistance from one of more than 50 Small Business Development Centers. Check the U.S. Small Business Administration web site at www.sba.gov for locations.
Participate in special programs. Many colleges and universities sponsor venture capital forums, entrepreneurship centers and family business programs.
Work with the business school to offer internships to graduate students.
Find out what expertise is on a business school’s staff. You may find just the right person to hire as a consultant or serve on your board.

5 Tips on Budgeting

2008-06-18T22:20:00.000-07:00

Think of a budget as a useful tool—a written financial plan that helps you set goals and measure progress.
Start by coming up with a sales revenue target. Make it your best estimate.
Based on past experience, estimate your cost of goods sold (e.g., 70 percent of sales) and subtract it from the sales revenue to come up with your estimated gross margin.
Forecast variable expenses (items such as travel and commissions that vary according to the level of sales) and fixed expenses (items like taxes and rent that stay the same, regardless of sales). Subtract these expenses from your gross margin to arrive at your estimated net income (before federal taxes).
Break your annual budget into quarters and monitor your progress every three months to detect problems and make corrections.

5 Tips for Developing Policies for Your Business

2008-06-18T22:18:00.000-07:00

Think ahead. Establish policies before you need them. Doing so helps avert crises and awkward situations, and helps solve problems before they arise.
Determine what policies you need. Some you’ll want early in your business include a mission statement, as well as compensation, performance evaluation and employee policies.
Get input from key employees, as well as from members of your advisory board, your board of directors, and/or your professional advisors and consultants.
Communicate policies to everyone in your business.
Review policies on a regular basis—once a year, for example—and revise them as necessary.

5 Tips for Making the Most of Your Business Plan

2008-06-18T22:11:00.000-07:00

Take the long view and do long-term planning. Map out where you want to be five years from now and how you plan to get there.
Write the plan yourself. You will learn more about your business by doing so.
Think of your plan as a living document. Review it regularly to make sure you are on track or to adjust it to market changes.
Share the plan with others who can help you get where you want to go—such as lenders, key employees and advisors.
Understand that you might pay a price in the short run to obtain long-term business growth and health.

5 Tips for Effective Business Planning

2008-06-18T21:59:00.000-07:00

Clearly define your business idea and be able to succinctly articulate it. Know your mission.
Examine your motives. Make sure that you have a passion for owning a business and for this particular business.
Be willing to commit to the hours, discipline, continuous learning and the frustrations of owning your own business.
Conduct a competitive analysis in your market, including products, prices, promotions, advertising, distribution, quality, service, and be aware of the outside influences that affect your business.
Seek help from other small businesses, vendors, professionals, government agencies, employees, trade associations and trade shows. Be alert, ask questions, and visit your local SCORE office.

original post : www.score.org