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How I Developed My Online Business Strategy for 2010

Guest post by: Joe Crawford

Article Overview: Thousands of people started an online business last year and some were blessed with results in some form or another. This is a quick read on developing a winning business strategy for 2010. Tailored for the online entrepreneur or the person starting an online business, this is an actual strategy I will be implementing in 2010. If your a traditional brick and mortar business owner you'll recognise some points you can likely implement in your business.

How I Developed My Online Business Strategy for 2010

A years end is a common time to take a look at the business you've created in the previous twelve months. With Christmas and the family holidayfading out of view, New Years is a great time for reflection and for entrepreneurs that means business reflection. Owning a business on the Internet, which in many cases is nothing more than owning a website or blog, is especially challenging when it comes to having a plan and following it. Many Internet entrepreneurs get side tracked and end up with a blob of loose ends, broken promises, and failed goals, why is that?

Making noise is much different than singing a song, and singing a song is much different than singing a beautiful song, recording it and actually selling a few copies, right? Having a business online is much the same. Anyone can start a business online, just like we can all sing a tune, but not everyone and not many actually have success at either. More than any one thing, lack of a solid strategy is the number one reason for small business and Internet business failure.

Developing a solid business strategy for 2010 is crucial to reaching the financial and business goals you have laid out for yourself, which leads us to the first important factor a successful business strategy, goals.

When setting goals for the upcoming year focus on the end results to your lifestyle, don't put it into dollar signs just yet. Figure out what you want your life to look like a year from now. Start with where your at now. What do you absolutely love about your life today that didn't even exist a year ago? What is in your life today that you would love to be rid of and whats missing, what do your really want to be able to do, be or have?

These are great questions to get you started in creating a goal driven vision and this is important to your business strategy for a few reasons, the most important being motivation. Our goals and dreams should motivate us and having good goals for 2010 will be a key driver in developing a solid business strategy. Here is brief overview of my online business strategy for 2010 and I've included some details as to why these make the list of the top things I'll spend my working hours on in 2010.

• Continue to build on current successful websites and blogs.
• Create a website that will sell in one year for 15k or more.
• Sell a $500 domain name.
• Create a user generated site or convert an existing one into a community type website.
• Create an online business with a tangible, shippable product.

These are all part of my online business strategy for 2010. Let me give you some insight into why they are on the list. While there are several other business ideas I will implement in 2010, these are the ones that I'm focusing on because they are:

• Attached in some way to what I'm already doing.
• I can leverage assets I have online to make them successful faster.
• They are smart ideas that have what I'm looking for when they are successful.
• They are scalable and manageable with the commitment I've made to my online business.

You see each of these ideas will be launched from existing successful businesses and website I currently own and earn money with every months. The first which is, continue to build on existing successful websites, is first because it make sense. You've probably heard, "Don't kill the goose that lay's the Golden Egg", well that's what I'm up to here. I have some things that work and I'll spend a little time helping them work even better in 2010. When I say a little time I mean around three to five hoursa week and that's it.

The domain name idea is on the list cause when it's done right its easy and fast. I've had several great domain name ideas I never really did anything with and I'm tired of wondering if its a good business idea. In 2010 I'll find out first hand. One way I can increase my chances of success here is to attach a website with the domain and write some unique content, get it indexed in the search engines, and have some traffic building. Making money online is about adding value. Many people just don't know where to start so they never do and starting a website and getting traffic adds value to this target market.

Creating a user generated content site is much like the one your on now. This business idea make the 2010 strategy list because at some point I'll have to make a decision to hire employees or outsource some of my content creation. I've had employees before, and a bunch of them I might add, I'd rather try outsourcing and if I'm going to outsource, why not use my visitors, readers and people who are already interested in writing in my niche. I have a site or two that would work for this idea and I feel reasonable confident that it will work out well. It can't hurt to try.

The last item on the 2010 strategy has to do with a tangible product business. One of the things I've noticed is that people are always asking, " What do you do for a living", it seems most of the people I ask don't have a clue what I'm talking about when I say, "I'm a web publisher" or " I'm doing some stuff on the Internet", so I figure I can generate some sales if I could just say something like, " I sell a great line of gourmet coffee online, you should try some". Necessity is the mother of invention and if had five dollars for every time someone asked me what I do, I'd have five dollars more than when they ask now, you know what I mean?

In conclusion, when developing a new business strategy for the up comming year, take a look at whats working now, what's not, and figure out what you can do in addition to what your already doing. Ask yourself what you could do that would compliment your current endeavours and what you could do more easily because you have an asset that could assist in the launch of a new business idea. Knowing what you want is key to knowing what you should spend your time on this year. If you like passive income like me, then don't waste time on something that will only be more burdensome as it becomes more successful.

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Article Tags: business strategy, online business 2010, online business strategy, starting an online business



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