Launching a Web Based Business in 3 Steps

Putting together and launching a web based business is not a mystifying process but rather one that requires a logical pattern of thought and implementation! Developing a profitable business starts even before launch when certain considerations and determinations are made by the internet entrepreneur! In fact it is this stage of the process that is the most crucial in determining whether the venture will become successful or not!

Here are the 3 steps any aspiring internet entrepreneur will need to take when preparing to launch what will hopefully be a profitable business!

Center Your Focus

What are you passionate about and truly believe in? Is there anything you’ve seen or heard about that sparks enough of an interest in you worth pursuing? It is always best to center your focus on something with which you have a current interest or enough of an interest where you are motivated to learn more! As an internet entrepreneur you work alone and will be responsible for many things therefore try to make your new occupation as enjoyable as possible. Your best chances of building a profitable business will be dependent upon the amount of time and effort you’re willing to invest Obviously this willingness will increase as your level of interest does!

Develop Your Plan

Simply put, how do you intend to do what it is you want to do? You need to put together a plan, and this is important, a realistic plan that can get you where you want to go! This will involve whether you intend to develop your own products or even sell those developed by others. In addition you’ll need to consider distribution, warehousing and even customer service if necessary. EVERYTHING depends on the business model you choose in terms of drop shipping, affiliate marketing, information products and so many other choices! Each model offers you a very real potential for building a profitable business and all differ in some way except for one thing, they all require a plan!

Implementing Your Plan

You’ve taken the time and hopefully the diligence to put together a suitable plan that best fits your talents, resources and intentions! There’s is one last thing you must do in order to become successful after all this planning and that is PUT IT INTO PLAY! You’ve ‘choreographed’ exactly what is needed for you to achieved your objectives as an internet entrepreneur but these efforts are all wasted if you don’t take action! Now’s the time to start earning money, it’s out there, so go get you some!

Launching a web based business obviously requires a bit of forethought in terms of certain determinations and planning for the venture to become successful! This particular stage is not overly complicated but it is absolutely necessary for the implementation and subsequent operation of any profitable business! The 3 steps reviewed above although only a few in number are crucial to the overall profitability of any internet entrepreneur! It’s simply a matter of narrowing your focus and pulling it together into a workable plan that you can take online! Perhaps the most crucial stage of all is taking the actions needed to put your plans into ‘play’ since your own actions are ultimately the ONLY way you can become successful!

Why Knowledge and History May Be Killing You

Sometimes what you know may be more dangerous than what you don’t know. When it comes to business, you may mistake knowledge or experience as “truth”. There is only one truth about your business, and that is, “What you believe is what will come true”.

Let me show you how this works with a real example. Tika became distraught when her creativity seemed to disappear overnight. She is a designer, so losing her creative mojo instantly produces stress. When her mental fog lifts she is barraged with clients calling asking for stuff she can’t provide. Profits dry up and the stress escalates.

The killer of creativity with Tika was a client who said they could afford a design costing $10,000 when she knew that in order to do it right, the cost would be more than double that. Tika felt boxed in by the limitation of price. This has happened many times over the years she’s been in business.

She colluded with other designers and they all agreed that this is the way it “goes” in their industry. They also had a “bitchfest” about other things they experience in their industry like having to hunt down final payments from clients, the lack of good people to outsource their work to and the long hours they put in with little appreciation.

Tika and her peers never thought there could be a solution that worked because their history told them that they had tried everything and never had a satisfactory result. They all tolerated the “downside” to their industry…although they didn’t do it well.

After two days coaching with me, she had a shift in her perception of what was possible. She decided to do her creative designing as if the client had given her an unlimited budget. Her creativity and confidence was instantly restored. She produced a brilliant design. She approached the customer with a firm stand on what her vision was and it wasn’t going to be within the budget he originally had given her.

At the end of that conversation, the client agreed to spend four times the original amount. What shifted? TIKA! She decided to do her craft her way. Her confidence and passion came back, she listened to her inner business expert and the result was exactly what she had been craving all these years.

Listening to other people’s limitations will get you nowhere. I’d be out of business within weeks if I did that, because I hear people tell me daily that they don’t have the time or money to invest in my services. I tell them they can’t afford not to hire me.

I’d also be broke and working 60 hours a week if I had followed the expertise of the coaches who told me what to charge, way back when I started my business. My own history can show me times when I attracted business with no effort, it can also show me years of major efforting with little result. If I thought history was an indicator of my future when my business was tanking, I would have gotten a job. I’d have thrown in the towel after nobody registered for my pilot classes.

There is one thing your history can tell you. It reveals the results of what you were thinking and feeling. That’s it. And since you can change those two things on a daily basis, nothing is ever set in stone. I mean nothing. There is not one circumstance you can’t turn around. You can even attract a whole new set of customers and employees, even if your past shows you a line up of flops.

Forget what you know when it comes to the bombs, disasters, financial ruin, crappy relationships, encounters with thieves, and all that other depressing stuff.

If you had no access to your history and all the passion you needed for your desired business outcome, how would you proceed?

There is a reality you can create that includes bliss. That’s what I’m going for. Wanna join me?

How Product Managers Can Innovate and Not Lose Their Shirts

What’s your plan for making your product a success going forward? Hoping some magic fairy shows up and makes your competition go away overnight? Well good luck with that! I suspect that your management is probably pressing you and your product team to do some of that “innovation” stuff. Got any ideas on how to make it happen?

The Two Flavors Of Innovation

We all think that we know what innovation is, but do we really? We view innovation as being the process by which successful products get invented like the iPhone, the Kindle, etc. However, those product teams have access to some sort of magic pixy dust that the rest of us can’t touch. How are we supposed to use innovation to make our products better?

Really smart people, like Dr. Rosabeth Moss Kanter, have taken a close look at this innovation thing and they’ve discovered that not all innovation is created the same.

What they’ve found is that there are actually two different types of innovation. The first is what we’re all familiar with: the blockbuster breakthrough thought. This is the kind of thinking that produced the iPad. Not bad – if only product managers could have these types of thoughts every day!

Thankfully there is another type of innovation. This is the incremental change type of innovation. It’s a much smaller type of breakthrough, but we have a lot more of them and they turn out to be just as important.

For you see, the blockbuster breakthroughs are built on top of a whole bunch of incremental breakthroughs. In fact, the researchers have discovered that you really can’t have a blockbuster breakthrough if you don’t have a bunch of incremental breakthroughs in order to support the blockbuster.

How To Innovate With Your Product

I can almost hear you saying, “oh great, so now not only do I have to have blockbuster innovations, but now I also have a bunch of incremental innovations…” Well, yes and no.

Instead of getting all tied up in knots about what you do or don’t have to do in order to innovate with your product, it might be simpler to implement a framework for allowing innovation to happen.

One way to do this is to look at innovations as they relate to your product as being organized in a pyramid fashion. At the base of the pyramid are all of the little ideas that are always popping up about how the product can be improved. These can come from anywhere: internally or from customers.

The ideas that are “no-brainers” need to be implemented right away. The ones that will require some time and investment, but which look promising should be thought of as moving to the next layer of the innovation pyramid.

At this level, investments are made, changes happen, and innovation starts to become apparent in different parts of the product if you look at it hard enough. Nothing revolutionary, but the product does keep getting better.

The final stage of the pyramid is the top. This is where the big ideas get kicked up to. These ideas require the product manager and the firm to make a big bet on where the world is headed. If your senior management agrees, these ideas are the ones that will create the breakthrough innovations for your product that everyone will be talking about.

What All Of This Means For You

Since you are responsible for the success of your product, you need to make sure that both you and your team keep innovating and making the product better and better. That means that you’re going to have to find ways to make innovation happen.

It turns out that there are more than one type of innovation. There are the big innovations that get all of the press and then there are the incremental innovations that are needed to allow the big innovations happen.

Product managers need to implement a framework that allows innovative ideas to be collected into a pyramid of innovation that will allow good ideas to be implemented no matter if they are small, medium, or breakthrough in size.

Innovation is a core requirement for every product – every product has a half-life and you need to be adding value to it in order to ensure its success. Use this deeper understanding of innovation to show your management and the market that your product is the most innovative.