01 Nov Do You Understand Your Business?
Yes it’s a strange question, but it’s one that should be answered – especially if you’re going to make it profitable.
It’s amazing that some people aren’t able to describe their business in a single sentence. For some reason some believe that setting up an online business and promoting a website is a lot easier than creating an offline business. But this isn’t true. You can certainly do it with a lot less cash behind you, but sooner or later you have to realise that without a solid business plan you’re going to fail.
When you look at your business (or your website if you already have one) you should be able to say something like this:
- “I sell eBooks on internet marketing to people who want to start a new online business.”
- “I make money from Google Adsense from my niche site on gardening.”
- “I sell a range of goods and services to golfers of all abilities.”
Every single one of these statements describes a business. If you can’t look at your own website or online business idea and make a similar statement, you need to go back to the drawing board.
Obviously it helps to have a website that works for you instead of against you. It’s no good just putting a whole bunch of ideas into a single site in the hope that one will work. You have to be focused and hold onto a single idea or plan each time. The same applies to your online business. That’s why the single question – “do you understand your business?” – is worth answering every time you have an idea for a website or online venture.
Ratio7 designs and creates websites for all kinds of people and businesses. But in each case one of the first questions we’ll ask is this: “What is your business all about?” If you don’t know, we can’t build a website that will work to bring in more revenue for you.
So as you can see, it’s a great question to start with. The more you understand your business, the more cash it will be capable of bringing in.