Thursday, February 13, 2014

On the Business Path: Internet Business-8

It is better to go with an established company because you never know when the free company goes out of business and as I said before it does not look professional. As somebody said in order to make money you have to spend some. Once you have established a domain name and selected a hosting company then you have to find out what you are going to do with that. It is easy to select a name and a host then to figure out how to actually go about executing your plan. Do you really need a business plan? There are two different views about it, one side says that you need it and the other one says you don’t need it. If you are going to apply for funds from outside sources, you had better have a business plan so that you can actually show to your investors/creditors that you can pay them back but even if you don’t have outside investors/creditors, it is better to have a business plan. Why do you need to have one even when you self financing, it is because you need to know what path you are taking. A business plan need not and should not be static but should be dynamic and should constantly change as your business progresses. Nowadays it is easy to create a business plan as there are several software available online and on the market where you just have to plug in numbers and other stuff and you are good to go. But in order to plug in those data, you need to know what your business model should be.

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