Online Business Where To Start

bydazwilk

1K followers

Updated 9 years ago

An online business, many of us think WOW I can be a dotcom millionaire, while that's possible should that be our primary driver.

I have experience in management of multi million dollar mega projects projects and have had my own management consultancy, the one thing I have leared is this "Get The Plan Right".

Planning is the basic fundamental building block of any project or in our case my/your Online Business.

What are some key fundamental process to a plan;

1) Initiating Processes

2) Planning Processes

3) Executing Processes

4) Monitoring and Control Processes

Lets look at these in closer detail

1) Initiating Processes

This is the process that facilitates what we want to achieve, and consists of defining business needs outcomes, and the resources that we are willing to invest are further refined. Includes a description of the product or service to be delivered in our case this would include our Niche.

2) Planning Processes

This is the foundation of any business, it defines and refines objectives, and plans the course of action required to attain the objectives and scope that the business was undertaken to deliver. This process is used to gather information from many sources to develop the Business Execution Plan. (BEP) These processes also identify, define and mature the business objective, cost and schedule the activities. As more information is discovered, additional dependencies, requirements, risks, opportunities, assumptions, and constraints will be identified or resolved.

While planning the business, you should endevour to involve all appropriate stakeholders, depending on their influence on the business and its outcomes. Use stakeholders in planning since the stakeholders have skills and knowledge that can be leveraged in developing the BEP and any subsidiary plans.

Involve stakeholders you ask and who are they? Well they are your audience or customers, you ask how do I involve them. Online business is difficult as our market is un-tested by us, but we being part of Wealthy Affiliates have a vast array of experience marketers in our community use these members as our "Substitute Stakeholders"

3) Executing Processes

The Executing Process Group consists of processes used to complete the work defined in the BEP to accomplish the business requirements.

This process group involves coordinating resources, as well as integrating and performing the activities of the business in accordance with the BEP. This group also addresses changes normal variances will cause some re-planning, and can include activity durations, resource productivity and availability and unanticipated risks.

You and I will use the Executing Process Group to direct and manage business execution. This process is necessary to direct the various technical and organisational interfaces that exist in the business to execute the work defined in the BEP. The deliverables are produced as outputs from the processes defined in the BEP. Information on the completion status of the deliverables and what work has been accomplished are collected.

Time to Publish your site.

4) Monitoring and Control Processes

The Monitoring and Controlling Process Group consists of those processes performed to observe business execution in our case our site, so that potential problems can be identified. You should decide which of the processes are required, the key benefit of this process group is that business performances is observed and measured regularly to identify variances from the BEP.

The Monitoring and Controlling Process Group also includes controlling changes and recommending preventive actions.

Now you have your site up and running, we should be measuring and monitoring our traffic, and defining our audience or customers, are we getting our message across, what are there needs. We also need to put in some controls our audience /customers are they quality or quantity.

Monitoring and Controlling helps us to identify any adjustments we need to make our site a success.

In conclusion; any business is about serving a need, but ultimately we do it for different reasons, make money, help others, support a cause and many other reasons..

If we plan and follow our plan, make necessary adjustments as we go we can all be succesful and who knows maybe the next 'Dotcom Millionaire" success story