Develop a Business Plan Before You Buy a Website :: Sell Websites Buy Websites

Develop a business enterprise Plan Before You Buy a WebsiteReprinted with permission of VotanWeb.comIn new-made years, Ive written a number of business plans based on ideas Ive had for divers(a) websites. Most of these ideas were small, but I learned a great address just writing the plans. I didnt proceed with those websites beca practise either the market or cash flow wouldnt support them. However, the only way for me to know this was by writing the plans. Completing the initial plan for my current website was time-consuming. I fagged about 40 hours over a three-week period researching and writing it. Its a living document, since I revise it every month or two. large-minded Web resources, plus word-processing and Excel spreadsheet software, allowed me to create a unique plan. The resources I used include VotanWeb and the Small Business Administrations site. The business-planning software programs that provide templates to inset your information seemed cookie cutter and formul aic to me. They didnt seem to offer anything that wasnt deliver on the Web. The first half of a business plan is geared towards developing and supporting a business strategy. A website can grammatical construction serious competition if the business concept is not creative. I critically examined my market, industry, customers and challengers. I reviewed the benefits of my current merchandise and tied them to customer needs. I visited my competitors websites to evaluate their strengths and weaknesses and find opportunities they were neglecting. I asked myself Is there a ceding back that allows me to compete less directly against similar websites? Can I use different sales or marketing pitches? Is there a auxiliary market that can help us grow? Can I position my websites in new ways that offer customers additional benefits?The fiscal PictureA balance sheet shows a websites net worth(predicate) and is prepared once annually. In my business plan, I also included a personal balanc e sheet that showed my personal financial payload by documenting my own assets and liabilities.A cash-flow statement shows how much cash forget be needed and when and where it will be generated. It examines cash and revenue sources, electronegative the businesss expenses and capital requirements (a cash-flow statement differs from a profit-and-loss statement because it doesnt include when the revenue is undisturbed or expenses paid). I show my cash flow going precedent on a 12-month basis. This allows me to see when my cash flow might not be adequate to meet expenses and pull back on disbursement until it builds up again.