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Starting an Internet Business: Avoiding the Pitfalls


Starting an internet business can be a fun and exciting new adventure, or it can be a frustrating maze.  It really depends on how prepared you are and the experience that you bring with you.

Research Your Idea

Thousands of women everyday have terrific business ideas; they may not even realize it.  If you think your idea ranks high enough to start an internet business, then do the research to find out if you are right. 

It doesn't take long to get some idea of whether the market is already saturated with internet businesses the same as your idea, or if there is a need for what you want and have to offer.  Try to avoid the pitfall of reinventing the wheel. 

Business Plan

Many people think starting an internet business is just a matter of getting a website up and going.  This is a definite pitfall that you want to avoid.  A business plan is vital to true success, and it will give you a guideline on your business' growth and goals (not to mention a budget and financial plan). 

A business plan is also an evaluation tool for potential funders.  If you plan to apply for a small business loan, most banks require a solid strategic plan. 

Run the Business

Avoid the pitfall of thinking that your internet business will run itself.  Any new business requires an input of time and energy.  Even if you are working from home, in your pajamas in the middle of night, working your business will be a requirement.

Find a work space and designate working hours; something you can commit to.  A successful internet business requires daily monitoring, particularly if you have email to answer. 

Name and Website

Your business name and website is how consumers will find you and will be the first impression that you make.  Name your business thoughtfully.  Once you begin your business, you will not want to have to rethink the name.  You will also have to purchase a domain name, so make it count.

A quality web presence is just as important as your business name.  If you don't know how to design and build your own website, prepare in your budget to pay to have this done for you.  Avoid the pitfall of an inadequate or hard to maneuver website. 

Use Mentors

There are plenty of places to get quality small business advice. Utilize those who have gone before you. Community colleges often have a small business section, with classes and mentors available to anyone who registers.

There are also community meetings that center on networking for small business.  Check out where your local meetings are held, and plan to attend with business cards and information in hand.  Avoid the pitfall of isolating yourself just because your business is an internet business. 

Use the community and internet resources available to you, and market yourself and your business as often as you can. 

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