How to Establish a Successful online Business Plan - Part 1

Losing business you don't even know exists is common in anybusiness start-up. I see Internet marketers who throw uptheir one page website and sell only one product. They haveno backend product, no up sell, no recurring billing -nothing. If they only knew how much money they were missingout on. This isn't something you just rush into without astrategic, well pondered plan.  Unfortunately, most peopledo.

With your product idea in mind "step back" from yourproposed business for a moment and get that all-importantaerial perspective. Consider these elements of your productstrategy:

The Front-end Product- The front-end product is only thefoundation of a much larger strategy. Think of yourfront-end product as merely a tool to collect a large listof willing to buy consumers.

Bonuses- Your bonuses should be relevant to your product.Ideally, they should compliment the product in such a waythat they are related to, but can be distinctly separatedfrom, your front-end product to add value. Expand on yourproduct. Offer more information as special reports, arelated 'workbook', audio, video, etc. If you build apackage deal you may be able to charge up to twice as muchbecause the perceived value is so much greater.

The Up sell- Your up sell should be an upgrade of yourproduct. For instance, if you sell CGI scripts it might becustom installation at an additional charge. Package dealsalso make good up sells.

The Backend Products- Your backend products are your profitmakers. They are high-ticket items directly related to yourfront-end product. Be careful that your front-end and allyour backbends are in the exact same niche so that yourbackend offers will be compatible with the customer listyour front-end product builds.

Having multiple backend product is essential for anybusiness, do not think that yours is the exception. Thereason I mention planning these 4 components of yourproduct line at this point, before you create your front-endproduct, is that creating a profitable product line isstrategic and has many considerations that need to be givenadequate thought.

>From a high vantage point look at your business plan atlaunch, in the future, and every moment in between. Planall of the 4 above components by answering these questions:

• What, exactly, will be included in your front-end?
• What will your bonuses be?
• What will be included in them?
• What will your up sell be?
• What makes it worth more money?
• How much more will you charge?
• What will your backend products be?
• How can you make them extremely valuable?
• How can you tie your backend products into my front-end?
• How will you market my backend products?
• Are there any ways to bring more value to your customers that you are missing?

Just pausing and answering these simple questions beforeyou begin working on your product will put you far, farahead of most other online marketers. Successful businessesrarely become successful by chance. In fact, most investhundreds of thousands of dollars formulating detailed,well researched business plans.

Your business plan has no less importance. It may not needto be so detailed but don't expect success to come to youif you haven't carefully planned the high leverage aspectsof your business, obviously your product is an extremelyhigh leverage aspect of your business.

Whenever possible you should have all four of thesecomponents in place for launch to maximize profits. Thereason being that once your business starts receiving heavytraffic and getting orders it is easy to get caught up inthe day to day aspects of running a business and neglectever developing these lucrative components of your business.