module 2 - start and grow your own business webinar

Start and Grow Your Own BusinessModule 2: Planning Your Ideal Business

Rita J. Cartwright, FounderRJ’s Internet Marketing Services

Start and Grow Your Own Business

“Should I Quit My Day Job?”


“But I Need Money NOW!”

In that case, you need to look for a business model that:

You have already mastered and

have the skills to perform . . . or one that you can learn quickly


Generates immediate cash


Copywriter

Virtual Assistant specialist in an area starving for good ones. (E.G. Shopping Cart management, Autoresponder management, Project management)


Graphics creator (creating buttons, blog headers, contact form graphics, etc.)


What you can do

What you should be doing

What you need, in order to start up professionally and effectively


How much people want to pay

How much you can command at your level of skill and expertise

STEP ONE: REALITY CHECK!

Module 2: Planning Your Ideal Business


Don’t say “but I don’t have twenty dollars a month for an Autoresponder service”. They say: “Hmm…How do I get an Autoresponder right now?”


Don’t think within the confines of rigid, narrow boxes: (They leave that to born employees.)

Habitually step right outside and look at the boxes from all angles – inside and out.


Researching free Autoresponders, to see if they’ll do the trick

Considering whether or not it’s worth giving up cream in your coffee to put in your Autoresponder fund (after you realize at the rate you drink coffee, you could easily free up twenty dollars a month!)


Researching various reputable Autoresponder companies – and discovering that most of them have one-month free trials.

This allows you to set a goal of making at least $20 the first month to cover your next month’s fee completely.


You want to be a virtual assistant. There are only so many hours in the day and one of you: Are you setting yourself up for just another job?


Is yet another job with limited, one-track responsibilities what you want . . . or would you like to be a business owner, rather than your own employee?


Visualize yourself with a fleet of VAs, further down the road.

Does this feel right or is it too intimidating?


Do you think you could grow into this thought if you took it one step at a time and acquired the skills you need?

Or are you happy just serving clients yourself and making a smaller sum per week?


How does your business model fit in with your dreams?

Your goals?

Will you expand your business by outsourcing tasks you don’t do as well?


Outsource tasks you don’t do at all, just so you can offer them?

Will you hire more VAs or just outsource tasks to make your own specialized skill time stretch further?


Reputation

Business model

Image

STEP TWO: PLANNING FOR ADDITIONAL STREAMS OF INCOME



$900 worth of copy for clients per week

$800 per week as a blog designer


Two or three more VAs or copywriters

Another stream of income


What is “passive” income?

It’s an income-generation system you set in place that keeps perpetuating itself once it’s properly set up and running.


Unless you’re generating it anonymously or under a “pen” name,

keep your passive income stream related to your main business model,

so that it supports and grows that main model.

STEP THREE: PLAN TO INVEST IN COACHING OR MENTORING FOR YOURSELF



Join a dedicated forum dealing with online marketing

or a membership site on online entrepreneurship.

Top-quality free forums

STEP FOUR: YOUR SALES FUNNEL



Create a Sales Funnel

A Sales Funnel should be planned to achieve specific purposes at specific stages.

Each offering (product) builds on the previous one.

FEEDBACK AND GEL TIME



Who do you share your dreams with?

Joining a mastermind-type forum

Listen to those you trust

EIGHT MISTAKES YOU NEVER WANT TO MAKE



1. Not performing adequate research into (a) the business idea (b) the potential market

2. Not identifying your target customer specifically enough


3. Not making a business plan – even a rough outline

4. Not learning inflexible basics for your business model – such as local laws you need to observe, paperwork to be done, fees to be paid, restrictions for your business model

YOUR BUSINESS FINANCES



Failing to set up a separate business bank account

Internal Revenue demands a dedicated account

Hire a bookkeeper

YOUR BUSINESS TYPE



Sole Proprietorship

Basic types of business structures

Legal forms you need to display on your site

Tax ID or EIN (Employer Identification Number)

YOUR BUSINESS IDENTITY



Who you are

What you sell

What you do

Register your own name as a domain


To provide contact details on your site

Box numbers are generally considered suspicious

Dedicated bank account


If you’ve been in business for three (3) years or less, then this is a must have 4-modules course on Start and Grow Your Own Business.

Each module contains brainstorming worksheets and homework assignments. Pick up your copy at http://rjsinternetmarketing.com/startandgrowbiz.html for only $37.


Q & A

Rita J. Cartwright, FounderRJ’s Internet Marketing Services

module 2 - start and grow your own business webinar

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