?Making an opening checklist is a great way to start your venture of putting up your
own home internet marketing business that will succeed. The checklist will serve as
your guide and will also help make sure that everything that should have been done
have really been done. Listed below are different items that generally should be
included in a home internet marketing business checklist. More items can be added
depending on the nature, function and needs of the business you have in mind.
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General Home Internet Marketing Business Checklist
? Have I focused on a particular product or service?
Generally, specially with startup businesses, specialist firms do better and have a
larger chance of becoming fully established businesses that those firms who offer a
variety of services. Your first task as a new business is getting yourself known in your
niche. Putting all our focus on one specific product or service will make it easier for
you to make a name and an identity as the better or even the best in what you offer.
? Have I made my product or service as specialized as possible?
The more narrowed down or particular your product or service, the better.
? Have I considered the limitations imposed by my competitors?
It may prove to be too hard at your current stage to compete head on with the leaders
of your niche. Aim to be at the top, but plan to do it step by step. Make only a small
group as your target audience so you can focus on them more. Then gradually widen
your reach as your business grows.
? Have I decided on whether to find a unique market niche or just go with the
You may decide to offer the same kind of product or service that the other businesses
in your niche offer. You may also, on the other hand, opt to come up with a something
different. It may be something totally new or an old product or service offered with a
? Have I prepared a one-year cash flow projection?
The cash flow projection will be your estimate or expectations of the cash inflows and
outflows your business will be experiencing in its first year of operations. It will help
make sure your will be able to maintain the liquidity of your enterprise.
? Have I got all the necessary e-commerce tools in place?
? Have I taken all necessary insurance policies?
? In case I plan on selling on credit terms, have I decided on my credit rating
All businesses that allow credit purchases from their customers should implement a
credit rating policy to avoid transactions with consumers with poor credit ratings.
With this you will earn the respect of good paying customers while at the same time
keeping customers who do not pay on time away.
? Have I completed my written business plan?
A formal business plan in hard copy is essential to the proper management of any
business. It should cover pre-opening, first year and long-term plans. The business
plan will not only provide you with something to follow but will also aid you discover
any weaknesses in your planning process which in turn will help you learn and
improve. It will also help attract investors as it will give them the impression that you
are a well-organized business.
? Have I taken time to learn and gain practical experience about the basics of my
Knowledge is never harmful. Learn as much as you can about your businesses and
niche in which it belongs to. You may get practical experience by first working for
someone else's business that is similar to the one you are planning to put up. It will
also allow you to tell whether you will get to enjoy the business you have chosen.
? Have I accounted for prototypes, research, sampling and trials in my budget?
? Have I conducted market tests on my product or service and were the test results
? Have I decided to sell a great product at a fair price or a fair product at a great
You have to decide whether you prefer selling a few but with high profit per item sold
or selling a lot but with a little profit with each item sold. A great product is one with
superior quality but high price while a fair product is one with moderate quality and
moderate to low price.
? Have I prepared all the required communication, computer, and other business
tools as well as the skills to use them?
? Have I learned all I need to learn about the difference between hiring independent
contractors and employing people as well as the related IRS rules and the importance
of compliance with these rules?
If hiring and employing is likely to yield similar results select the more cost-effective
option. You must also know how to appropriately report and withhold regarding your
? Have I put all the elements of my business structure in place?
? Accounting and bookkeeping systems as well as the accountant
? Permits and licenses
? Registered business name
? Operational computers, telephones, cell phones, fax and utilities
? Graphics for advertising and promotional materials
? Registered domain name and online website
? E-commerce ready infrastructure
? Security systems
? Have I selected and trained the needed number of employees?
? Have I finished my personal work schedule?
It will greatly help if you maintain both daily and long term to-do lists as well as an
appointment book so as to never forget scheduled meetings.
? Have I included my requirements for managers, consultants, independent
contractors, agents and sales representatives?
Home Internet Marketing Business How to Buy Checklist
Every business has a particular marketing strategy that works best for it and has
already been proven by your competitors who adopted it and succeeded. You can best
gain from the success and experience of your competitors by analyzing and dissecting
their successful marketing plans, including selling methods, pricing and advertising.
List down the most successful businesses in your niche and study them or even work
for them. Ask questions regarding things about them that are valuable to you
whenever possible. You may even come up with an improved version of their
marketing strategies by analyzing the strengths and weaknesses.
Your customers are your lifeblood. Learn how to keep them satisfied by knowing
what they need and what they want. It will also help if you are able to get feedback
from them. Information about the real wants and needs of your target consumers is
vital in making sound and fit marketing and promotional decisions. You should
determine what they the value the most; whether it is pricing, quality, or service. If a
particular geographical area identifies your market, low cost demographic reports
based on the census can be attained that will supply information on population by race,
income and home ownership.
What and How to Buy
Inventory obsolescence has become more and more common due to the rapid
changing and improvement of products. Keeping a large volume of inventory has
therefore become very risky. Some products especially high tech gadgets like cell
phones can become obsolete the very same day they are purchased.
Minimization of inventories is the best way to mitigate losses form obsolescence.
Rapid delivery firms and just-in-time assembly systems are the most commonly used
means of reducing the quantity of inventories. Minimized inventories free up cash
which can then be put to more productive use and it also reduces or eliminates the
need for warehousing.
Most startup firms do not have the luxury or capability to manufacture their own
products. Having such products manufactured by an outside manufacturing firm is
therefore the best alternative. Delegating your manufacturing process also allows you
to focus more on marketing and promotions. Always remember to take enough time in
selecting your manufacturer as there are usually those willing to provide products at
How to Buy Merchandise Checklist
? Buy only what you think you can sell.
? Never place an order without knowing price and terms.
? Purchase orders must be in writing.
? Have complete specifications.
? Buy subject to your contingencies.
? Have backup sources.
? Be loyal to good suppliers.
? Have promises and extras verified in writing.
? Get price protection.
? Try to award to the lowest bidder.
? Don't be hesitant to repeatedly contact suppliers to expedite needed merchandise.
? Communicate complaints.
? Use internal controls for ordering and receiving.
? Count and inspect everything as received.
? Use an inventory control system
? Ask for and take term discounts.
? Pay on time.
? Pay only after verification.
? Watch your cash flow.
? Consider suppliers as a source of financing.
? It is better to pull suppliers your way, not push them. Be nice.
How to Buy Property, Plant and Equipment Checklist
? Make suppliers within your community your priority.
Transactions are easier when parties are from the same area, delivery is also faster and
delivery costs in case of FOB shipping point arrangements. Take advantage of the
local feature of search engines for fast searching. Utilizing search engines is much
faster than turning to ads in yellow page directories. Just enter whatever it is you are
seeking followed by your zip code.
? Clearly define in writing all the details of what you are seeking and be as specific
? Let potential suppliers that they will be taking part in bids to determine who can
offer the lowest price of good quality PPE.
? Take advantage of suppliers willing to be a source of financing like in the case of
electrical signs, furniture and fixtures, or equipment purchases.
Home Internet Marketing Business Marketing Tools
The name of your business will represent what your business is and what it stands for.
A memorable logo will also greatly supplement your identity and marketability as it
will establish your name and promote brand recognition. The logo will be the key in
imposing in your target consumers' minds the image you want to portray. Your logo
may appear in many forms like in stationery, business cards, brochures, Web site, gift
boxes and shipping containers.
Home Internet Marketing Business Name Checklist
? Easy to remember
? Simple to spell and pronounce
? Clearly says what you do
? Stirs customer interest
? Doesn't confuse you with a similar business
? Has a positive ring to it
? Evokes a visual image
? Doesn't limit you to a geographical location or to a product
The Internet will help a lot so make sure to make it an integral part of your Marketing
Home Internet Marketing Business Promotion and Advertising
Your business advertising plan will be the blueprint that will pave the way on your
crusade towards success and growth. The plan should be comprehensive and include
everything you need and want for your advertising campaign such as your objectives,
budget, media plan and creative approach. There is a high chance you will not be able
to do the planning alone. In this case, do what you do best and hire for what you do
not do best.
Once the advertising plan is complete take time to open and discuss it to your vendors.
They may even supply you co-op money provided that you adhere to their rules and
make proper applications for the money. Even the smallest advertiser can get up to
half of their advertising costs reimbursed, the rest they will get back once your
advertising efforts succeed and you start ordering more from them due to increased
demands for your products.
Home Internet Marketing Business Media Checklist
? Print (newspapers, magazines and newsletters)
? Television, including cable
? Yellow Pages
? Direct mail
? Trade shows
Learn from your competitors to further avoid the risk of making mistakes and losing
money. A startup business usually cannot afford trial and error because every penny is
needed. Research the advertising campaigns of our competitors. Learn from the
mistakes of those who failed and learn from the success of those who made it big.