Thursday, October 2, 2008

How to develop a business plan for your home based business

Failure to plan, in any business, is a recipe for failure. Ask any general before leading troops into battle. Without a tactical plan, you can just about assure the demise of your army. The same things applies to a home based business.

First, determine what it is that you are passionate about. What is it that you could do, everyday, for work, and never get tired of it. It's okay, whatever it is, that's fine. This will drive you and motivate you to work! It could be anything, a hobby, a sport, an activity, ministry, whatever, that's okay! Passion is great fuel!

Second, write down your vision for the future. What is it that you want to accomplish with your business? Maybe you want to put your kids through college, form a charitable organization or spend your days out on the golf course. Determine what you want to BE, and focus with all concentration on that.

Third, do your research. Determine the depth of your target market. You can do this online by visiting SEO Tools. Use the keyword selector tool to type in the name of your product, idea, service or concept to determine how many people are looking for what you have to offer on a daily basis.

Fourth, acquire the knowledge you need. If you are a self starter and want to do the building yourself, you will need to know how to build. Learning to do the work, especially online, is not only rewarding, but gives you an advantage over your competition, regardless of the business you chose to build.

Fifth, find an Internet marketing mentor. Learn from those who have gone before you. Most, if they are worth their salt, will be happy to assist you and guide you in the right direction. Many offer live training that will help you learn much faster than trying to learn through a book.

For more information on how you can build your home based business, visit Rex Harris online. God Bless!