Archive for October, 2006
Many solo internet business entrepreneurs believe certain things about starting their own business that simply are not true. Continuing to believe in these myths can lead you down the path to destruction and therefore failure for your business. Here are a few of the most common myths:
•Since I’m just working for me, there is no need for a business plan. This is a subject that was discussed in an earlier article but bears repeating. Would you go on a trip without a plan? Would you get married without a plan? Plans are good, they will help you get focused and stay that way. A good business plan will help you think through all the aspects of your business and see you on your way to success.
•I’ll have to invest in expensive software to get a good business plan. Nope, this one isn’t true either. Software may help, but you don’t need it. How do you think all those businessmen succeeded before the invention of the computer?
•Then I’ll need to hire a consultant to write my business plan for me. You are the one who knows what you are going to do. If not, then all the consultants in the world can’t help you. Try a coach or mentor to guide you, rather than do things for you.
•I should get one of those business plan templates that sound really complicated. Complicated is good, right? Wrong! Simple, but professional looking is better.
•I need to have everything perfect before I start. If you wait that long you may never start. Get your business up and running, as problems that need to be repaired arise. you can fix it as you go. Just make sure the major points are as good as they can be.
•If I don’t do everything my business plan says I’m a failure. Sometimes detours or changes can be beneficial to your long-distance plan, business plans should be revisited at least once a year in the early years of your business, and those changes that caused detours reviewed and incorporated into the business if approparite. Don’t sweat the small stuff.
•My business plan must be typed, at least 50 pages long with a professional looking cover. You can write it in hieroglyphics on the wall (but you MUST write it down), so long as you can understand it and maintain ready access to it when you need it to keep your business on track to success.
•I only need a business plan if I’m getting a loan. Would you invest in any business without seeing a prospectus? Of course not! You’ll be investing in this one! Just do a budget and run it by your accountant.
•If I have a business plan in my head - that will do. ABSOLUTELY FALSE! You will NOT be able to remember it. Can you solicit advice as problems arise from friends or professionals if they must read your mind? Can your accountant assess how your business is doing if he must read your mind as to the direction that your business is heading?
•Friends and family are all I’ll need to give me advice. Could a city man tell a farmer how to run his farm? Only if your family are accountants and market research experts will they be qualified to give the right advice, and even then their advice will be tempered by their emotional involvement. While that is not necessarly bad, you want the most honest advice you can obtain so that it will provide your business the best possible chance of success.
•I can do everything myself without the need for outsourcing. Another GIANT myth! Business process outsourcing will help insure that your time is most wisely spent on those processes that you posess the talent for, and provide your business with the best chance of being successful.
Anyone in the business world knows that when someone asks, “What’s your website address?” you better have a URL to give them. They don’t want to hear “I don’t have one yet” or “I’m working on it”. Having an established, professional looking website, always scores credibility points for the business owner.
Of utmost importance though…it’s far better to not have a website than to have a nonprofessional, cheesy looking site. You will do much more damage to your business by portraying your company in a less than top-notch light.
If you don’t currently posses the knowledge, skills or abilities to produce an outstanding design yourself then outsource this process to a professional web designer. Web designers aren’t cheap, but that’s no reason to cut corners. Rework your budget or possibly try to barter for all or part of the outsourcing work to build your website.
You can save yourself time and money if you have your website copy written. Provide your web designer with the text and the layout of how you want it to look. Offer color schemes, send some links to other sites that you admire. Of course, you never want to copy someone else’s site, but by giving your designer an idea for the theme you’d like to have, the first outsourcing process for your business will go much more quickly.
The more of th process you can you do up front yourself, the easier it will be on your pocket book. Many designers work by the hour. If you want to have lots of links in your website, spell that out clearly. Ask your designer if you should submit your text and ideas in a Word document or if they would prefer it some other way. And make sure to forward any photos you want to use to your web designer. Web designers, while talented, are not mind readers. Most will do as many edits as you like, however you will be charged for each edit, so proper preperation means dollars to your business.
There are many “quick and easy” web design companies out there, advertising that you can have your website up in an hour. There are also many canned templates that you can use which are very user friendly. But keep in-mind that most of these tools are for beginners. They will not provide a professional looking site. If it’s your business, the one you’re trying to make profitable, image is everything. Don’t try to cut corners in this area. Your first business process outsourcing venture should be a success, that will translate into a successful online home based business.
Way too many people believe the Internet is a place to get rich quick with no or minimal effort or sweat required. You simply publish a web site and poof, you have a home based online business. Please do not hold your breath waiting on results from an Internet business started with that thought process! Home based online business owners turning blue or choking are excellent signs that they did not read this article! It takes time AND effort to start ANY business, and an internet is no exception!
The good news is starting an online home business is worth every moment it takes to get it done right. Imagine being your own boss for your incentive, then use your brain and motivation to make it work. The lack of time is always a factor in creating your business, be it an internet business or a local brick and mortor business. Given the fact we all have jobs, kids, family, hobbies, or some other distraction, you MUST be willing to acknowledge that it won’t happen overnight. One method of adding more time to your business day is to use the proven techniques and strategies that you learn during your training, not shortcuts!
Imagine being able to sit down at your computer and find your home bases internet business already built in a box just waiting for you. By using content and article sites, you can easily find ready to go ebooks, software, products and even complete web sites, ready to build a business with. However, they just do not include the marketing any business requires to draw customers to your business.
Take a tour of sites like Infogoround (highly recommended), Surefire Wealth, and SiteSell. You will find ideas and solutions for any home based business. None will be successful overnight, success takes considerable effort and motivation and it all starts with you and a great idea.
Do not overlook your greatest asset, which is the skill and knowledge you already have! Online Business Oppoertunities take passion, and chances are passion on the job got you many years of experience that you can easily share for profit. The book “Make Your Knowledge Sell” can be found on any search engine. Get a copy of it and see just how much money your knowledge can make.
Many topics and themes that are great for home based internet business and online affiliate sales have already been built. Take advantage of that by joining sites that sell content and ideas you can modify to suit your specific purpose. These days you can start a home based online business in just minutes to hours, but above all, have a marketing plan before you start! Then use content sites, article sites, and proven marketing tactics to get the job done.
In all cases, the lack of an action plan is absolutely the fastest way to a home based business failure. “Look before you leap” is a well known phrase as well as the answer to faster internet home based business profits.
Outsourcing is the latest buzz word to hit internet marketing circles, teleseminars, and niche websites. It’s certainly not a new concept to outsource many of your business process, but like so much else in our lives, the Internet has given rise to a new dimension of this popular technique. Because of this, there are a number of issues to keep in mind when looking at process outsourcing as a viable alternative to doing it all yourself.
Outsourcing is a concept that internet marketing professionals and newbies alike should acquaint themselves with, and for good reason. Because a large number of internet marketers are running the show by themselves or with a limited pool of additional assistance, there are just too many tasks to hope to complete them alone. In addition to the time factor involved, it just simply is’nt possible for any one individual to possess all the technical skills necessary to accomplish all the processes that running an internet marketing business intails.
With time and skill level being the two primary factors that lead internet marketers to outsource some of their business processes, it’s important to understand which of these two needs you are fulfilling when you find yourself with the need to outsource specific processes in your business.
When analyzing your business process outsourcing needs strictly on the basis of time constraints, it is advisable to have a good understanding of what an hour of your time is really worth relative to the process that you are evaluating for outsourcing.
As an example, let’s say it takes you six hours to accomplish a redundant task (process) and it might take you 15 minutes to teach someone else to do the process for you. Then look at what it would be possible for you to accomplish in that same six hour period. Would you be able to use that time to finish an ebook?, and that completed ebook could be resold for untold profits? Or possibly you could write thousands of lines of code to complete that software package you just haven’t had the time to complete, and resell it for untold profits? If this sounds like your current situation then any modest fee that is paid to outsource that redundant process could literally be worth its weight in gold!
Outsourcing your business processes on the basis of skill level becomes a little trickier. This is where most internet marketers who are new to process outsourcing can get themselves into trouble. It is imperative to keep in mind that even though you may be outsourcing a process that you simply don’t have the capablity to do yourself, you still need to be in control of that process to assure it remains a positive benefit to your business.
Remember, this is your business and your image, and your income depend on the business success. If you fail to retain a firm grasp on control of the processes you are outsourcing, those processes will almost always fail to live up to your expectations. This would not be productive for you, or for the individual you have contracted those processes out to.
Communication is the key component when outsourcing a process that you are not readily able to do yourself. Let’s use an example to clarify, let’s say that your artististry could use some improvement, you can contract with an designer to develop the header and the ebook cover graphics for your sales page, while you apply your skills to complet the text of the ebook. If you just tell the designer nothing more than the title of your ebook and then expect the designer to deliver the cover graphics you visualize in your dreams, that result just isn’t going to happen.
So, the more detailed you can be about your likes, dislikes and expectations, the greater the chance will be that you will be thrilled with the end product. Again, remember that just because the designer has those skills that you don’t posess, that one of their skills probably isn’t mind reading! If you don’t like the color green, there is no way someone is going to know this unless you tell them! COMMUNICATE!
Yet another area where internet marketers get into trouble, is when the process you are outsourcing involves technical skills or programming. This can be particularly difficult if both sides are not communicating properly.
non-programmer often sees a project as being far less complex due to the lack of knowledge concerning the mechanics involved in the programming process. End users are used to just clicking buttons and having things work, they seldom have to deal with or think about what goes on with the coding behind the scenes of those beautiful graphic masterpieces.
This can have an impact on the perceived value of the process outsourcing bid, as well as the time frame and the ultimate functionality of the programming project. Misunderstandings with all of these things can be greatly reduced by taking time to clearly and concisely define the project parameters ahead of time with the designer. Again, the importance of communication during this phase cannot be stressed enough.
Finally, it’s never a good idea to outsource any process you don’t understand or can’t measure. This isn’t to say that you need to understand the mechanics behind the process, but you definitely need to understand the result you expect.
As an example, it’s not unusual to see bid requests on popular process outsourcing sites requesting 200+ inbound links from PR7 or higher sites to be completed within 24 hours. While this may or may not be an exaggeration, here’s the point; if you are asking for something like this and you are adamant that you want to get your money’s worth, you better be prepared to have a means in place with which to judge someone’s performance in completing this process. Otherwise, it’s a surefire recipe for disaster.
Simply put, if you want something done to your satisfaction, you need to be prepared ahead of time to know what is required to attain that satisfaction!
Remember, process outsourcing is in many ways, just the virtual version of an employee or subcontractor. If you have ever been an employer who has created a job description, along with it you most likely implemented a means of gauging the employee’s performance. And as an employee, you knew exactly what was expected of you and the consequences of failure.
Today’s business process outsourcing concepts are based upon the same time honored principles used in business throughout the ages, and understanding this concept will greatly increase your odds of a successfull venture.
If you hang around any internet forum long enough, you’re sure to read a post from some exhausted, disillusioned “apprentice” internet business entrepreneur who is ready to give up on his online endeavor.
It’s not only internet forums that carry sad tales of endless hours spent trying to “break in” to internet marketing success. You’ll often see stories like this in testimonials for a system that has finally worked: relieved marketers tell the story of their rocky journey before finding the solution that finally allowed them to succeed.
If you’re one of those internet business entrepreneurs who are dealing with a fed-up spouse or partner who is urging you to find a “real job”, or credit cards that have reached the red zone after huge sums of money where spent on the next sure thing, you may well be getting close to burnout.
So what do you do? Do you keep trying - or just give up? And if you do keep trying, how can you determine know what will work best for you? What’s the best use of the hours you have available to you, without your health suffering? Here are a few tips to help you find your way through the maze.
First tip: Work on the Tasks That You Find Easiest, and Outsource the Rest.
There are a number of ways to make money on the Internet, but most of them require that you know how to work with two things: words and websites. When you’re an “Internet Newbie”, focus on working with your strengths. i.e: if you are a confident writer but a dud with the technical stuff, spend your time and money wisely. Use sites like Elance.com or Workaholics4Hire.com to find someone to outsource the things you find difficult. You could spend a whole day trying to master something an expert could do in twenty minutes. So instead, outsource the process and let the professionals work on the geeky stuff, while you write your own sales copy and tweak articles to make them unique.
If you’re not so hot with either words or the technical aspects, you have a choice: (a) you can pay others to do most of the work, while you come up with the ideas; or (b) you can invest the time to teach yourself the necessary skills to do one or both of these processes.
Remember though, the quickest road to burnout is trying to master everything at once. The, “I have to work this stuff out in the next three weeks or get another job!”, is the sort of attitude that is sure to burn you out. So, be kind to yourself, and allow yourself whatever training period you need to gain the skill sets you need.
Second tip: Work With Your Personality, Not Against It.
By the time you’re ready to embark on an Internet business, it’s quite likely that you have enough life experience to understand your own work patterns. It is essential that you create whatever conditions you need to work efficiently.
Once you have chosen the type of business that seems right for you: i.e. creating niche products, or building content sites that will bring in money from AdSense and affiliate sales, your first step should be to create a checklist of necessary processes (tasks). What is the very first thing you need to do? What is the second? What is the third? Write them ALL down!
Decide on which processes you’ll handle yourself, and which process you’ll outsoource to others. Arrange these processes in two separate lists. If you haven’t the money to outsource anything yet, then you’ll obviously still have one big list.
If you are outsourcing certain processes, find a professional that will be handling them and get things underway before you begin on your own list. This will give you a mental boost, because things are already happening! Note that some outsourced processes may have to wait until you have completed a step on your own list.
Look back at your past experiences with approaching projects or new processes, and decide which of the two following work patterns sounds most like you:
- you work best with a ‘to do’ list that challenges you, ticking off each process as it is completed.
- you become overwhelmed if you have too much on your list; you work best if you have just one process in front of you at a time.
Far too many new internet business entrepreneurs panic at the sight of a seemingly interminable list of tasks. At the end of a day, if they’ve checked only three boxes out of twenty-seven, they panic. It all seems too much - and paralysis can set in. That, in turn, leads to disillusionment and another failed internet business.
If, after deciding which of the two types of work patterns fits you the best, you know that this will be your reaction, then put your list away. Instead, write out the very first process on a piece of paper, and put THAT one item list in front of you. That’s all you have to accomplish - that one process.
Be careful that you don’t look upon a whole complex project “one process”. i.e. don’t write down “build a website” as the first process on your To-Do List! Break a process that large down into smaller “sub-processes, and focus on each in turn. If your first process in building a website is to download the necessary software and install it on your computer, write that down as one “sub-process” on your to-do list.
Work your way through one process at a time, and give yourself credit for what you have accomplished. One final tip: pretend that you are hiring yourself as a process outsource contractor, and treat yourself kindly. Treat yourself like a new employee that has to learn the ropes. As a boss, you wouldn’t unfairly overload a “newbie” starting out in the business, so don’t do it to yourself either!
When companies are looking for business process outsourcing help, they often look to home based businesses. Although the term “home based business” can imply one person working from their home, it is not limited to a single person and indeed may involve several people working from a small office in the home. And that’s what many companies look for: a slightly larger sized business operation.
So you ask, what does that mean? Boiled down to a single word, reliability. For example, can you be counted on regularly? Or will there be times when you take on too much outsourcing work, or maybe not enough, and need to adjust your work load accordingly? What will happen to their outsoursing projects if this happens?
Now you can get a grip on your company size and handle process outsourcing workloads large and small. Here are some ways that you can increase your home based business process outsourcing operations without physically crowding yourself out of workspace (it’s probably limited), or blowing your budget for future process outsourcing project handling opportunities.
Joint Venture – Team up with a partner, company or other entity and help each other. Combine your product with a service – something of yours with something of theirs. Then outsource work as necessary to handle the work load.
Interns / Students – Contact colleges, universities, high schools and other education centers in your surrounding area and inquire about interns and students for your business process outsourcing opportunities. Many businesses allow you to participate in their programs, filling out their forms, posting flyers, actively recruiting, etc. Keep some help on hand and put them to work!
Subcontract – Check with your local Chamber of Commerce, surf the Internet, place postings for online help on forums, etc. Find companies for outsourcing some of your business processes and keep their contact information handy. Give them a try when you’re not overly busy, so that when you ARE swamped with outsourcing work, you’ll know they are a good fit for your clients as well as your own business.
Helpers - Consider hiring part time help. Place an inexpensive classified ad in the local newspaper and employ canidates searching for hourly work. Call the places that leave flyers on or around your mailbox or front porch and have them distribute “Help Wanted” flyers in your neighborhood for you (see another process you can outsource!). Call your church, fitness center and / or other organizations you participate with, and have them post a notice on their bulletin boards. When you find some help, keep a list of those seeking extra income for faster access the next time you need them.
Profit Center – Seek help from other canidates experienced in your chosen field of interest and set up a profit center or two to generate additional business process outsourcing opportunities. Many can be automated today so that they are pretty much hands-off. Then all you have to do is concentrate on your advertizing and marketing. This way, if times get lean, you can increase your marketing efforts to maintain your income flow. And when you have more oursourcing processes than you can accomodate, you can ease up.
Follow the Boy Scout motto: “Be Prepared!”. Don’t let your lack of preparation be an excuse for being or staying too small and “unreliable”.
On a scale of one to ten, having a good business strategy rates about a fifteen!
No matter what kind of business you have, whether you sell a product or a service, there is an old business rule that states: “If You Fail to Plan, then You have Planned to Fail”. While I certainly cannot take credit for that “rule”, and do not know it’s origin, I can attest to the fact that it is most certainly TRUE!
Creating a business management strategy can mean the difference between having to work 60 to 80 hours a week all year long, and only breaking even, or worse yet losing money, or being one of the successful home based small business entrepreneurs who has a business strategy, works fewer hours and makes piles of money. These business owners almost always attribute their success to having a strategic plan and sticking to it!
So what is strategic business management? Very simply, it’s the process of defining the goals and objectives for your business, creating an written action plan, then following that plan so you can reach those goals and objectives. Part of this plan should include business process outsourcing of tasks that will free up your time and talent to apply to increasing your bottom line.
Having that knowledge begs the question: How do you create a strategic plan for your business?
First, determine what your vision for your company is going to be. If there were no barriers and nothing stopping you from taking your company as far as you can, what would that look like? - WRITE IT DOWN.
Second, what are your company’s core operating values? What are it’s guiding principles? In other words, why are you in business and how do you do business? - WRITE IT DOWN.
Third, Create a 3 to 5 year plan. Your long-term plan is based on the broad objectives that will help you get from where you are now, to where you are going to be in that time frame. - WRITE IT DOWN.
Fourth, Develop a plan for this year. These are the specific objectives that you have written down and intend to accomplish this year, that will lead you closer to your stated long-term goals. Remember to be “SMART” when setting your annual goals (make them Specific, Measurable, Attainable, Realistic, and Time-oriented). Be sure to include a list of the barriers that can stop you from achieving your goals so you can PLAN to avoid them! Determine what resources you already have, and what resources you must acquire that will allow you to avoid or conquer those barriers. Then create an action plan that CLEARLY lays out exactly how you will achieve your goals. If your business involves key employees, be sure to go over this part of the planning process with them, in detail. - WRITE IT DOWN.
Fifth, Create a flow chart of tasks, complete with a set of milestones or benchmarks and actively manage this chart to stay on track toward your goals. This is VERY important, so that you have a business management tool that will allow you to measure your progress. - WRITE IT DOWN.
Sixth, Share the plan plan you have developed with your employees, and anyone else that will be involved in the business processes. Your annual strategy is a roadmap that will assure everyone reaches the same destination at the same time. - For a roadmap to be effective, everyone must follow the same map! - WRITE IT DOWN.
Seventh, PUT THE PLAN INTO ACTION! Now that you have the roadmap to success, it’s time to begin the journey. If your roadmap includes outsourcing some of your business processes to make your time more valuable, do NOT deviate from the plan or success will not be achieved. - WRITE IT DOWN.
Eighth, Check your progress regularly. Just like any trip you take, you need to check the map often, at regular intervals, to be assure that you are still on the right road to success. If something isn’t working as you planned, the regular check points will allow you catch the deviation and make the necessary adjustments to bring you back on the track to success quickly. - WRITE IT DOWN.
Ninth, Revisit the entire process each year in business (Dream, Plan, Act, Check). This will allow you to make those adjustments necessary to continue on the road to success. Again keep in mind that those processes that can be outsourced will allow you to concentrate on the more important aspects of your business. - WRITE IT DOWN.
You probably noticed that I continually insist that you WRITE IT DOWN. This is so important that I cannot stress it enough. DO NOT skip this step, it is VITAL to your plan to have it in writing so that EVERYONE involved, and especially you, has a visual written plan to keep everyone on the same road, so that success can indeed be achieved and enjoyed by all. If you have forgotten the first “rule” return to the top of the article and reread it!
To summarize and review, creating a sound business management strategy, including business process outsourcing (BPO), creating a flowchart with all the steps to success written on it, and putting into ACTION those steps and strategies, and reviewing that roadmap at regular intervals, will help to ensure that you enjoy the journey to success every bit as much as you will enjoy arriving at your destination!
Remember . . . . . . . . . . . . . . WRITE IT DOWN!
Gary
A popular solution is business process outsourcing. When you employ process outsourcing, you can hire experienced people and let them use their creative talents while you focus on other, more important tasks. Another excellent benefit is that the workers you hire may be more up to date on the latest information and technology in their specific fields and can be assets to your clients, as well as offering improved quality service.
BUSINESS PROCESS OUTSOURCING
Here are the basics to process outsourcing:
Focus: Focus on outsourcing some of the major processes (tasks) of your workload. First, sit down for a breather and re-read your ‘To Do’ lists and look around your office area. Which processes CAN you outsource? Which processes seem to pile up the most due to lack of time to get them accomplished? THESE are your processes with the lowest priority for your business, that’s why they didn’t get done!
For example, maybe you can’t seem to find time to update your website each month. Maybe your newsletter is STILL not getting out regularly as promised to your subscribers. Or perhaps your direct mail campaign is not quite as direct as it should be; i.e. it is sitting in exactly the same pile it was three months ago!
So . . . . . . write out a single page project description for these processes. Focus on exactly WHAT you would want done, Establish WHEN and HOW the finished product should turned in to you.
Take Action: Then begin your search for process service providers (outsourcing). For example, with the sample processes above, find people who can help with Internet websites, newsletter creation, and sending out the direct mail campaigns. Call around, surf the Internet, and ask other home based Internet or Online business operators which companies they recommend for their business process outsourcing needs. Another method is to check forum posts and ask for advice and suggestions from the others in the forum, they may have already gone thru this process with their home based internet business. Be sure to shop around for comparisons to be sure you are getting sound advise. Same principal as carpenters use: “measure twice - cut once”.
Next, set up a trial period and test run one or two of those business processes you have identified earlier that could be outsourced. Remember, no one is perfect, the object is to see who you can communicate with reasonably easily, and who’s flexible enough to work as a team player. Check out the quality (and quantity) of their work as well, then choose a candidate. Also remember this decision is not carved in stone, the process of selection can be used again if a better canidate is needed. You can always hire the other person as a back up or second helper down the road if additional help is still needed. So be kind to all who test, make you decisions and keep your business moving forward towards the goals you set out in your business management strategy plan.
ROI (Return On Investment): Make the most out of your investment and you will reap a great return by investing your time wisely, too. Process Outsourcing will free up more time for you to focus on the work you like and allow you to invest more time in marketing and advertising, which will increase sales and enhance the number of projects you can produce. Don’t forget to brush up on your skills and keep up with the industry. Read the latest ezines in your field and take a brush up course or workshop to improve your skills as well. This will return the most to your business from your outsourcing efforts.
Network and seek out joint venture opportunities. This is another excellent BPO strategy, and is a great way to help small home based businesses grow larger, while still allowing you to remain at home, which is why you started your home based business to begin with! So reach out with business process outsourcing, and watch you business improve. Make a commitment now to give it a try!
Hi All,
My name is Gary Kinney and this Blog is about my views and opinions on different business processes that can be outsourced, and how it can affect your business and therefore you life. Should you find these process outsourcing views and opinions to be valid for any business, but I am aiming mainly at online or internet business, big or small, and Home Based businesses in particular. You may find some of my opinions differ from the one’s you have heard or read about in the past. These opinions may be based on my experiences or the experiences of people I know in the business, can and may change as time progresses, since things are always in a state of flux in an online or internet home based business. The idea is give you information you can use to increase the profitibility of your small business and improve the value of your time and hopefully give you more time to enjoy the fruits of your labors and provide more time for the things you like to do most.
Check back often to find the latest posted information on outsourcing for different processes that affect YOUR business and see if the ideas or information you gather here will provide you with that extra income, or extra time that you need in your life.
Feel free to post a comments on this subject.





