Writing A Business Plan For Your Online Business

The first thing you will need to do after having the initial idea for your online business is writing a business plan for your online business. Just because it is an online business, doesn’t mean that it should not be treated any differently from starting a business offline. Reasons to write a business plan. Like planning various areas to focus, or business development and growth. 

The business plan will outline the business goals, strategies, financial goals and marketing plans. Use the business plan to keep the business on the path to achieve the goals it has set out by having a gauge to remain on course.

A business plan is also a tool to be used when seeking financial investors, funding and management staff. A business plan is a key to any successful business.

Although there are very different aspects of online business from an offline activity, the business plan remains an essential tool. Especially that the financial and marketing and management details should reflect every changing fluid online environment. Let’s look at the various aspects of writing a business plan for your online business.

Business Summary

Even if your entire business only operates on the website, you should describe all your sites aspects. Who is going to run the business, what does it offer, who is the target market, etc


An In-Depth Marketing Plan

Creating a marketing plan would require a great deal of research, especially an in-depth proposal, so allow yourself enough time to get the study done. Make sure that the research is still relevant at the time of incorporating the marketing in the plan. Include the pricing plan and the check out options, etc. this need to be reflected in the writing a business plan for your online business.


Management Team

The team member and their respective duties should outline, including their remuneration and benefits, etc. It would be helpful to include as much information as possible so investors can understand the management role.


Financial Plan

As a startup business, you may not have all the financial aspects of the market however you should include your startup capital, operating costs and the profit forecast over various intervals such as 6, 12, 24 months.


Business Schedule

The schedule should include the current state of the business, then the immediate future and then the future long-term plan. Be specific as to the date you are opening for business, when employee hiring is going to occur, even when the loan paid, etc.


Executive Summary

An accurate and complete executive summary will including the research and full explanation of the business plan. Break the executive summary down into its sections headed by its title, which will be able to be negotiated as required quickly.


If you are looking to get some FREE training to setting up a business online or growing your business online I would like to offer you a three-part training series for FREE. Just click the button below and get your training.

All the best

Roy

Helping people create their best life by building a digital business. Developing the right attitude through self-development, world-class training, mentoring and support from like-minded people in an environment where you can truly create your idea of financial freedom and lifestyle business.

“Opportunity is missed by most people because it is dressed in overalls and looks like work.”
Thomas Edison

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How To Stay Sane, Focussed, Disciplined And Organised While Working From Home

Working from home is challenging; you must be focused, disciplined and not get distracted.

Let’s be honest and let’s get real.

Even before the lockdown, I used to work from home one or two days a week. I found it difficult at times to be organised while working from home.

I’d wake up a little later than usual as I knew I didn’t have to commute. Having a cuppa while watching GMTV. Quickly put my face on in preparation for any video calls, brush my teeth, bang some washing in the machine and hey presto my commute was over! Still in my PJ bottoms and slippers.

Even though I may have a slightly relaxed start to the day, once work began, I’d carry on till late in the evening and not take any breaks. I will make dinner for the family and continue working for another couple of hours. So, although I had a pretty chilled start to the day, I did more work than if I was in the office. Only getting up from my dining room table when my back really sore and very really even took a coffee break.

More people working from home

Before the UK lockdown, only 1.7 million people worked from home. However, post lockdown an estimated 20 million people will be expected to working from home.


Traditionally working from home has been for the privileged few, not anymore!

Managing your time can be very challenging. Especially as you try not to get distracted by last night’s dishes, Facebook, or simply just surfing the net. With no colleague or management looking over your shoulder, it’s easy to get sidetracked.

“Establish a pre-work routine and an after-work routine. Working in the same place where you wake up, eat, and sleep can make anyone go crazy without proper boundaries in place.”

–Marissa Owens, Opportunity Business Loans


For this new working from home set up to be useful long term.

Both employers and employees need to develop some effective routines and habits. Therefore ensuring employees don’t become slaves to their employers while remaining as productive as possible.

You should have tools in place to help you organise your work life. Perhaps even help you manage your work-life balance. If the tools are really great, it will also be able to help you set a plan in place to focus on your self-development.

So unplug, log off at the end of the day and take time out for your-self development.

“… Remote work isn’t a privilege or a special accommodation. It’s a way of working, and that’s a strong statement for some people. It shouldn’t be a question of rewarding top performers with the ability to work remotely.”

— Nickie Bellington, Atlassian

Don’t get me wrong I am grateful to have a job in this current climate and am more than willing to go the extra mile.

However, I still have a life and a family outside of work. Just because I am working from home doesn’t mean I cannot take a lunch break, take regular coffee breaks and finish work at a reasonable time to have some me-time and family time.

I just needed a tool to help me be more organised while I worked from home. Arranging all work schedules, home, family and me-time is important for this working from home to be successful.

If you are anything like me, I put my all into my work and leave very little time for me. By this, I mean scheduling time to focus on my self-development, this is not your employers responsibly!!!! It yours
Self-development is taking steps to better yourself, such as by learning new skills or overcoming bad habits.

Be the best you can be

Ever since I can remember I have been told to get a good education, good grades, study hard and ace your exams. This is all very important academically but what about your ongoing self-development. I believe self-development is equally as important but for many, we seem to brush it under the matt instead of making it an integral part of our lives to become a better version of ourselves.

The sheer number of courses and books focusing on self-development is staggering – where do you start?

Before picking any specific area, I would highly recommend your first stop is to work on managing your time effectively by creating a solid foundation.

Create Good habits while working from home

  • Stay organised, increase productivity so you can achieve your goals – for example at the close of business write down a tomorrows to-do list in priority order
  • Improve your work and life balance and feel happier – take time out for your self-development

Figuring out what you want from life is difficult. Yes, we all want a million pounds in a bank account but the reality is, what use is a million if you have sold your soul to your employer and don’t have the time to enjoy it.

How to make the most of each day and kick start good habits

To make the most of each day and to kick start those good habits I would recommend this Legend Planner Deluxe – It’s superb Weekly & monthly life planner, organiser, notebook and journal to ensure you hit your goals and take those all-important steps to embrace the time to self-develop yourself.

It’s undated so you can start anytime – but don’t procrastinate there is no time like the present.

Learn new skills and be the best you can be

Self-development is about being the best you can be learning new skills, applying what you learnt and grow. This can help you be more effective in your job and perhaps even give you the opportunity for promotion, but more so it’s about actively putting time aside to better yourself. As a mother, I tend to put my self last, and there is very little left in my tank at the end of the day for me.

You must set time aside to self-development

Finding the time to do self-development is always going to be a challenge irrespective of how well you plan your day. So unless you actively plan to put time aside each day, it’s unlikely you will embrace the present time but rather look back in regret.

So I suggest you get this Legend Planner Deluxe, which will allow you to be more organised as you plan your day, being more effective both in your personal and business life including your self-development.

I wish you all the best in your new roles of working from home and hope you will be able to be more effective in all your roles, especially self-development.

Rebecca

P.S. If you are considering self-development / starting an online business to add to income that may have been lost over this uncertain period, check out this FREE online training series of three videos, and learn how you can start a digital business around your existing job.

P.S.S. Comment below – What are the challenges you have faced working from home, and how have you overcome them?

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