When you are thinking of starting an internet business, there is a time tested formula that you can use to ensure that you give yourself the best chances of creating a successful profit stream.
At Internet Business Kick Start we call this formula the Perfect Profit Parameters, and we’re going to explain how following this formula will help you create solid foundations for any internet business you start.
To start a profitable internet business you’ll need three things; you and your idea, a knowledge partner that will give you the specialized knowledge to put your idea into action, and one person who is a potential customer.
If you start an internet business with all of these in place, you have a virtually guaranteed chance of succeeding with your venture.
#1 You and your idea
The first step to starting your internet business will be you and your idea. You may already have a passion for something and want to create a product or service around this passion, or you may have an idea that you think may fill a need in a particular market that you’d like to turn into a profitable internet business. On it’s own, you and the idea are an island, the only customer you can possibly have is you, and there are no outside influences guiding you on how to find out who wants to purchase the product, how your potential customer may want to consume it, and you may also be lacking the skills or knowledge on how to create and deliver the product too.
#2 Knowledge Partner
When you add a knowledge partner, such as Internet Business Kick Start, you’ll learn some of the proven methods other internet business owners have used to create and deliver their products to customers. You don’t have to have all the knowledge you need to create a new internet business in place, since you as the business owner simply requires only the knowledge neccesary to start creating a profitable venture. Your knowledge partner will be your guide to help you with the things you need to learn to serve your customers. Knowledge partners are essential since even if you have #3 Your Customer in place you’ll likely not make any profits with your business, since even if you have the greatest idea on the planet, and millions of potential customers, you will either have an inefficient or non existent delivery method to get your product or service to your customers. Common things that stop new internet businesses making maximum profits include making it hard for people to checkout, making it difficult for people to find their products on Google, and mis-marketing their products entirely. With a knowledge partner on board you can learn time proven methods to help your business succeed with examples from internet businesses that have already started making profits. They’ve made all the mistakes so you don’t have to.
#3 Your Customer
To complete the Perfect Profit Parameters you’ll need at least one potential customer who is a member of the target market you are aiming your product or service at. If you have more than one potential customer great, however the key thing to remember is that however many potential customers you may have, always ask for their feedback on any product or service you are thinking of launching. Asking your customer what they want is one of the most important parts of the formula, since the answer you get will determine how you tweak you and your idea, and will allow you to ask your knowledge partner for the right strategy to serve your customers requests.