Start With Your Business Name The first thing to do after you decide what you want to sell, of course is choose a fabulous, memorable business name that no one else is using. If you form an LLC or corporation, this will happen automatically in the state where you file your paperwork. The design of your eCommerce site may be the biggest business expense you have.
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 is 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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Outline your vision. Think long range, a three-year to five-year time horizon. Develop your business model--the revenue streams your company will have. Determine your marketing strategies. Profile your competitors.
Describe the human resources you need. In the beginning, your management team might only be you, or you and a partner. Create financial projections.
More. If you jot down a paragraph on the back of an envelope describing your business strategy, you've written a plan, or at least the germ of a plan. Business plans are inherently strategic.
A business plan helps clarify the issues involved in starting a website.
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A Sample Web Design Company Business Plan Template Web Design Industry Overview The web design industry is an industry that basically involves designing websites and hosting same on the World Wide Web (the internet space) for individuals and corporate organization.