Internet Business Plan For Work At Home Startups by dallas2008

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									Internet Business Plan For Work At Home Startups
Did you know that one of the lowest cost and highest profit businesses that you can go into is an internet business? That’s right; in a recent study that was done it showed that internet based businesses had a much higher return on investment than your traditional “brick and mortar” business. The reason for this is very simply, with an internet business you have very low overhead and a very high profit possibility. The truth be told, to be successful on the internet you need three things, a computer, a good hosting service for your website and a business plan. Surprised at the last item? Most people are, and that is the number one reason why so many home based businesses or online businesses fail. It isn’t due to product or market because honestly there is a market for just about everything you can think of. The failure is due to lack of planning and execution. Just because it is much easier to start an online business then it is a brick and mortar business doesn’t mean that you should take it any less seriously. See all of those brick and mortar businesses had to create a business plan to get funding and open. What that business plan did was make them research the market, seek out competition, figure out goals and tasks, profitability of their endeavor and how they planned on achieving the goals they set. As an online business owner you need to do the same. Face the fact that the internet world is a more competitive business world because anyone can open up shop on the internet, which gives potential customers and clients numerous possibilities, as well as making your business nationwide if not international with a few clicks of a mouse. Which means the internet also offers you more opportunities to make money than any traditional business providing you take the time and do it right. Doing it right means that you invest the time to create a business plan. Creating an ebusiness plan will probably take you weeks, if not months, depending on how much time you have to create the plan and how in depth you want to make it. Here is a detailed explanation provided by the SBA as to what your business plan should contain:
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“1. Cover sheet 2. Statement of purpose 3. Table of contents I. The Business A. Description of business B. Marketing C. Competition D. Operating procedures E. Personnel F. Business insurance II. Financial Data A. Loan applications B. Capital equipment and supply list C. Balance sheet D. Breakeven analysis E. Pro-forma income projections (profit & loss statements) F. Three-year summary G. Detail by month, first year H. Detail by quarters, second and third years I. Assumptions upon which projections were based J. Pro-forma cash flow III. Supporting Documents A. Tax returns of principals for last three years Personal financial statement (all banks have these forms) B. For franchised businesses, a copy of franchise contract and all supporting documents provided by the franchisor C. Copy of proposed lease or purchase agreement for building space D. Copy of licenses and other legal documents E. Copy of resumes of all principals”
(http://www.sba.gov/smallbusinessplanner/plan/writeabusinessplan/SERV_WRRITINGBUSPLAN.html)

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