Is Your Online Business Failing? What Is Your Business Strategy

Having a business strategy plan or portfolio is essential to any business. A strategy is like a track to run on. If you have no strategy and just try to let it happen, it will happen alright, but not in a good way.

If you are failing in your business, that doesn’t mean you’re a failure. A failure is someone that gives up after facing a few obstacles. So refuse to give up and refuse to fail. Having an identified business strategy will help you avoid obstacles that may tempt you to give up.

What is a business strategy? A ‘business’ is defined as the buying and selling of goods and services. A ‘strategy’ is defined as a careful plan or method of achieving an end result. A ‘Portfolio’ is defined as a folder or book that holds your written plans. So basically your business strategy portfolio is your carefully defined written strategy for building your business.

Would you start a business without a business plan? Not if you needed start-up capital from a lending institution. They won’t lend a dime without a business plan. If you were to invest, say $1,000,000, into a brick and mortar business or franchise, would you have a carefully pre-defined plan as to how you were going to run and build that business? Of course you would, unless you just have millions to throw away.

So that begs the question. Why would or do most online marketers get into business without the first idea or clue as to how to build that business? Probably the reason they got into the online business in the first place was in pursuit of a dream. A dream of something better. A dream of more time, more money, more freedom.

If you have an online business, what is your job description? If you are in the business of internet marketing, your job description is to sale and promote your product. Plain and simple. You promote your product over and over to the best of your ability. You can do this multiple ways with different advertising methods. There are free methods, paid methods and social methods. You can even create an affiliate marketing program and get others to promote your product or products for a commission. Or, you can promote someone else’s product as an affiliate. But, in the end, you are in the business of internet marketing, the promotion and sale of a product.

How does a doctor get paid? By seeing patients right? How does a pilot get paid? By flying planes right? How does a barber get paid? By cutting hair right? The point is if you want to get paid in your business you have to take action. Pre-defined action with a plan.

If you are in the business of online network marketing do you want to get paid? Of course you do. So your job description is simple. You promote your product or service on a daily basis and teach others to do the same. Everything in your business plan as an online network marketer should revolve around that statement. Let me say it again. Your job description is ‘You talk to people everyday about your products or business opportunity and teach others to do the same’. How you talk to people everyday about your product or service will vary. But the end result is that if you don’t talk to people everyday about your product or opportunity daily your business will not grow and you will not get paid.

So if you are contemplating and online or offline business, develop your business strategy. Develop that strategy and commit it to writing. Refer to it often and make necessary changes when needed. But most importantly, when you face obstacles, don’t give up. Don’t ever give up.

Choosing a Business Name to Make Your Business Successful

Creating a Unique Name to Brand Your Business

One of the most important steps in business planning is choosing a name in which to operate under. The challenges with choosing a name can be difficult to overcome, such as deciding on a unique name, finding a name that reflects the business and its purpose well, as well as choosing a name that will easily transition to online use and social media. Once these challenges have been conquered, the most important step in the naming process is registering it with the proper department of local government as well as copyrighting or trademarking the name in order to protect the branding of the business long-term.

Important Considerations to Make When Choosing a Business Name

More often than not, small businesses start out as an individual’s freelancing or solo efforts. When this is the case, using the individual’s personal name is acceptable and does not need to be registered with the government. But, when these small operations begin to grow and working under a personal name is no longer feasible, it is time to consider creating a name and having the business branch off from the owner’s personal name. Giving a business any old name is usually not the best option – there are many things an owner should consider when choosing a proper name for his or her organization.

Some of the main points that business owners should consider when choosing an acceptable name are choosing a name that reflects the business and its offerings well, how the name will look both in print and on the Web, what feelings the name may evoke in consumers and business partners, as well as if the name has already been trademarked or claimed by another organization – violating trademarks can lead to huge legal ramifications for small businesses. Being able to meet these points with confidence will help an owner choose the appropriate name and build the business’s branding overall.

Importance of Registering a Business’s Name with Local and State Government

Once the business’s new name has been created, it may be pertinent to register the name with local and state government agencies. Registering the business under a new name alerts the government that business is being done under what is known as a “Doing Business As” or DBA name. After this registration process is complete, some business owners choose to also trademark the business’s name. Trademarking protects the business’s “Doing Business As” name and branding, guaranteeing that another organization will not use the same name and helping to keep the image of the business clear.

Is Your Business’s Name Web Ready?

Just as the business’s name is important in print, it is also important for branding on the Web and through social media. When considering a name, do research to determine if the same domain name is available. Also, search social media such as Facebook and Twitter to see if there is another organization with the same or similar name. If the proposed business name is available on social media, claim the name early in the naming process – even if the name changes down the line, many social media sites will allow business owners to edit and change the name of the business at any point.