The Work From Home Online Opportunity -Part – 3
In this post of the work from home online opportunity series we are going to discuss determing your needs to create an online business.
It is suggested that in order to save money and time, that you plan out your website before you sign any contracts or spend any money on developing it. You will learn alot about your needs and costs by answering some basic questions.
1) How many visitors do you expect to visit your site?
2) How will your visitors find your site (What Marketing)?
3) Who will do the marketing?
4) How often will your site need to be updated?
5) Who will do the site updates?
6) Will you need to hire employees?
7) What functions will you site need (credit-card, mail, etc)?
Who will design the site?
9) How much would a designer cost?
10) Will your site recieve advertising revenues?
11) Will you have your own products to sale?
12) Will you need warehousing for inventory?
13) How many sales or leads will it take to break even on costs?
14) How soon do you need to reach break even (Be Specific)?
15) What is the volume of sales you want to reach in specific time periods (30-days, 90-days, 180-days, 1-year, 5-years, etc.)?
Use the answers to these questions to determine whether this is a feasible business venture. If they are good – the expected earnings far out weigh the costs, then you should give it serious consideration.
If they are bad – the earnings do not justify the costs, then you should look for other ways to cut expenses or increase revenues.
The important thing in any business venture is to set goals and keep close track of where you are in those goals so you do not get lost in meloncholy.
I hope you found this post helpful and you will come back for future posts to The Work From Home Online Opportunity series.
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