February 27, 2007
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OF THE BRIEFING YOUR BUSINESS PLAN FOR AN INTERNET BASED BUSINESS |
| I was recently asked to prepare a
"basic" business plan that many entrepreneurs could use in
building their internet businesses. The business plan would need
strong demographic and financial information, and be flexible enough to
be used in service businesses as well as MLM and affiliate marketers.
I respectfully declined. I declined because there is no such thing as "an internet business". There are simply businesses that operate on the internet, just like there are businesses that operate out of a shopping mall or out of an office building. A few years ago an internet business was a novelty. It's not any more. Now it is assumed that the internet will be at least part of the marketing component. At the core of every internet business is a strong entrepreneur who uses great tools to get the job done. I can recommend great tools, ones with proven track records. After that it is up to the entrepreneur to prove (1) there is a market for his/her product or service, and (2) s/he has the drive and the qualifications to do it. The internet may be the best way market his/her product or service. Or it may be only part of the marketing plan.
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| TOP
FREEBIE WALL STREET EXECUTIVE LIBRARY |
| The
Wall Street Executive Library is the one stop shop for all things
business. And it's FREE. Everything from how to write a
speech to financial information on specific companies.
There are a huge number of links in every possible category. While it has a U.S./Canada bent, there is a lot of international information as well. Well worth checking out.
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| TOP OF THE NEWS |
| There is money
everywhere! Entrepreneurs seeking venture capital are in the strongest
position they have been since the “dot com” boom ended in 2000,
based on new statistics from Dow Jones VentureOne. The median
pre-money valuations of U.S. venture-backed firms soared to $18.5
million in 2006, the highest since the dot com bubble burst and the
telecom industry imploded along side it. Valuations that year reached
$25.1 million.
Deep-pocketed venture capitalists gathering in Colorado said they are eyeing "clean technology" companies as a new place to invest their cash and that Colorado offers good opportunities. It's more than just rumors. VC firms are backing this up with real investment. The SBA's live Web chat series provides business owners the opportunity to have discussions online about relevant business issues with experts, industry leaders, and successful entrepreneurs. The next one will be on Wednesday, February 28, 2008, from 1 p.m. to 2 p.m., ET. Chat participants can join the live Web chat by going online to http://www.sba.gov/, and clicking the "Online Business Chat" icon. Marriott Hotels is in a minority frame of mine. Accomplishments the past year include: $400 million spent with women and minority-owned businesses; | 400 hotels opened, or in the pipeline, owned or managed by minorities or women; and | an all-time high in diverse appointments to management positions. Something like an "American Idol" for the technorati might be coming to Silicon Valley. Venture capital firms are considering contests that offer competing engineers and entrepreneurs multimillion-dollar prize purses if they come up with innovative technologies in various industries. The concept is getting an introduction March 3 at a fundraiser at Google. The event is intended to raise a chunk of $50 million to operate the X Prize Foundation, a nonprofit group that already has awarded $10 million to designers of a private spacecraft. The foundation plans to use the money to develop prizes in fields such as medicine, poverty reduction and fuel-efficient cars. But the foundation's next stage of prize-giving will also include partnerships with venture capitalists who, the group argues, can use prizes to spur entrepreneurs to innovate and, in turn, to create an efficient research and development machine.
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| NEW
BUSINESS IDEA AN ECO-FRIENDLY YOGURT SHOP |
| Cactusberry,
a new yogurt shop in Palm Springs is all about being environmentally
friendly. This posh spot in the desert is now home to a yogurt
shop where the spoons are made from potatoes, the cups are made from
corn and the windows and lighting are energy efficient.
The proprietor was so impressed with Al Gore's documentary, "An Inconvenient Truth" that he set out to create a truly eco-friendly store. And he has succeeded. Look for more stores like this, stores that promote the ecology and living in harmony with our environment. The theme is getting a huge resurgence in interest. Now is the time to jump in with your own version.
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| YOUR
FREE BUSINESS PLAN SAMPLE TURNING WHITE INTO GREEN |
| How about turning some white stuff into green stuff? Here's a decent business plan on developing a snow removal service from the Royal Bank of Canada. It's not too early to start planning for next year.
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You can’t afford not to! ____________________________ I find the great thing in this world is not so much where we stand, as in what direction we are moving. to reach the port of heaven, we must sail sometimes with the wind and sometimes against it -- but we must sail, and not drift, nor lie at anchor. Oliver Wendell Holmes Sr., U.S. Physician and Writer, 1809-1894 ____________________________ |
| That's it
for now. Remember, if there is anything you want to see in this
ezine, let me
know (I've got a bit of influence with the editor!)
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