1. Why do I want my own Internet Marketing Business? Before deciding to start a business, think about the qualities you possess, what makes you tick, and how that might help you be a more successful business owner.
2. What interests, talents, skills and strengths do I have that will assist me in running my new business? Inventory the abilities you already possess. Then think about all the ways you can use them to grow your business and help others grow their business, and also working with partners that lack your abilities.
3. What are my strengths and weaknesses? The ability to recognize your own strengths and weaknesses is invaluable for the business owner. Recognizing what you're good at and what you're not will help you decide how to use your time and when to outsource to the experts or outside professionals for help.
4. What skills do I need to learn or brush up on to run my business effectively? Recognize which skills you need to develop in order to run your business most effectively. Identify the ones that are worth investing time into learning, and which ones you might be better off finding outside sources to perform.
5. Do I enjoy challenges? Businesses provide constant challenges. If you enjoy a good challenge, it will energize you. If you don't, you may end up feeling as though you're engaged in a constant uphill battle.
6. Will I be doing work that is meaningful and really interests and excites me? When you're engaged in doing something rewarding it helps to motivate you to keep going even when things get tough. Start by getting back in touch with your values and see if there is a synergy between them and the things you will be doing in your business. If not, see how you can spin things so that there is.
7. Do I really have a money-making idea? Not all great ideas make money. A good business idea addresses a problem, need or pain that a particular group of people or companies face. The problem must be significant enough to warrant spending money to solve or alleviate. Before bringing a new product or service to market, test your ideas and make sure they're profitable.
8. Who are my ideal target customers? Every business needs customers. Successful businesses know exactly how to describe who their best customers are, what "pain" they're feeling and what they need, want, desire and are willing to pay for.
9. Who is my competition? Learn everything you can about the others in your field who provide similar products or services to the same ideal customer – direct and indirect competition.
10. What do I offer that the competition doesn't? What makes my services or product unique above my competitors? This is your USP (Unique Selling Proposition) – what you'll use to make to your prospective customers buy your product or service instead of buying from your competition. Why should your customer make you their Marketer of Choice?
11. Have I established business goals? Setting goals is an important part of any business plan. But setting a goal is only part of the picture. Achieving goals is even more important. Learn how to identify which goals are important enough to commit to, and systematically work towards them by breaking them down into steps, establishing timelines, identifying resources needed, and benchmarks for success.
12. Am I a self-starter? When you have your own business, there's no boss or manager to tell you what to do and when to do it. To get your business off and running you'll have to motivate yourself to get things started.
Excellent blog with some very important questions. Not everyone is cut out to start their own internet business. Thanks for sharing
Great points, JMAC! Starting an Internet business is definitely a challenge! It requires dedication and hard work and a do not quit attitude.