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Let a Web Professional Guide |
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Self-Starters Weekly Tips
================================ Welcome
New Subscribers & Faithful Readers! Last week I sent you nine
profit-generating freebies… if you didn’t have a chance
to pick those up, you can click here to get them now: http://www.WebServiceNetwork.com/newsletter/122302.htm Year-end
Reflections The
end of 2002 marks six full years in business for me, but the past
12 months have been the most exciting yet. Each year has been different,
presenting its own set of challenges and rewards - from the very
first year when I struggled to make the transition from employee
to business owner, to this past year when I turned to the internet
as my main source for marketing I have
been involved with e-commerce and internet business for several
years… but had always operated from a commercial building
and catered to the middle Tennessee area, developing websites for
local business owners and offering consultation & training for
home business start-ups. While I still take local clients by referral,
2002 is my first full year with absolutely no local marketing efforts…
and 100% of my energy put into creating a full-time income from
the internet alone. A few
things I have learned…
http://www.soho.org/Start_Up_Articles/Hot_Market.htm
In
order to be successful in business, I believe you have to change
and grow with your targeted market. Know what they want, know what
they need… and be prepared to supply just that. There are
some successful people that own a new business every year…
or even more than one in any given year. They tap into specific
short-term markets and ride them out until the profit dies. A close
friend of mine has been very successful at this for a number of
years, sometimes making $20,000+ in pure profit every month for
six months straight… Whether or not you tap into a “Hot
Market”, consider how you can use this information to benefit
your current business – or your business idea. Who is your
targeted market and what are their needs… what will their
needs be in six months… in five years? Consider the baby boomers:
a 76 million+ market that created a demand for diapers, cars, jobs,
homes… and that are now entering the retirement phase. All
markets are not as easy to follow and calculate for in advance as
the Baby Boomers, but there is much to be learned from that model.
In
short, find your niche – figure out how you can be unique,
and design your business plan around that idea. Whether you have
been in business for years, or are starting your first business
now, you must reach your target market with your products or services
–or- you must create a product or service for a specific market.
Find a need, and supply the solution. That’s business. Your
first step in defining your business goals is to determine what
you want your end result to be. Do you want to start your own business,
earn a specific dollar amount, or achieve a specific goal such as
finishing a book you are writing? Figure out exactly where you want
to be one year from today, five years from today, even ten years
down the road. Next,
break down the steps it will take to achieve that goal, and list
them in order of priority. Assign tasks to accomplish each step
and create a tentative schedule for your calendar year. Be realistic
with your expectations of time and money, and be prepared to evaluate
your plan on a monthly or quarterly basis. Anticipate change as
you follow the market trends and update your plans accordingly. In
order to own a profitable business, you must be willing to make
a substantial investment. This investment is going to come in one
of two forms (if not both): Time or Money. If you are not able to
invest large sums of money, you can still start and run a successful
business by investing your time and energy. Either way, include
consideration of this investment in your overall plan – at
what point will income become profit, or at what point will your
investment of time turn into dollars in your pocket? The
internet provides a unique opportunity for people of all types to
become successful business owners. After this past year, I have
learned that anyone that focuses their time and energy on their
goals has a great chance at success. 2002 was a phenomenal year
for As
we enter into 2003 this week, take some time to reflect on your
accomplishments for the past year and your goals for the year ahead.
This is the perfect time to rewrite your business plan or write
your first business plan, and set the goals that will bring you
the end result that you desire! Wishing
you a Happy & Profitable New Year! IN CLOSING… It
is my personal mission to bring you an assortment of resources for
your internet business each week in an easy-to-use format. Most
of the resources found in each issue are a result of years of research
that I have done for my own internet business and others, and are
shared with you with my positive recommendation. You can view tips
from past issues online at http://www.selfstartersweeklytips.com.
As always, feel free to share this issue with your friends or colleagues! ~ HAPPY MONDAY ~ Lynn
Terry, Editor & Owner http://www.WebServiceNetwork.com
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