Six Success Requirements for Today's E-Business

By: Gary Clark

Business success does not come because of simple happenstance.  It takes work and the courage to put it all on the line.  Halfhearted attempt at business ends up with a full heart felt failure, one that keeps on failing you long after you close the doors. 

Business has changed a lot since your Dad or Mothers day.  For the most part, opening the doors of the general store on the corner of 5th and Main are nice memories, but in today's business environment, you can't just open the door on an Internet business and expect people will crowd their way into your store.

Why should they?  There are so many people opening and closing businesses on the Internet today, that you are just one of the crowd.  Moreover, this is where the problem lies. 

Many people are still looking to build the better Yahoo or EBay.  They read books about success stories that abound on the Internet and think to themselves - what could be easier.  Put up a web site, wait for people to buy with easy to obtain credit cards.  What a deal!

Well the truth is, there is another Yahoo lurking out there on the web, and people do make fantastic wealth with a few simple ideas that I call head slappers.  You know the ones.  These are the ideas that prompt you to slap yourself while saying - "why didn't I think of that." 

How do they turn a simple idea into a great Internet business?  They focus.  It is as simple as that, and losing the focus is the primary reason why so many fail. 

Lack of focus is not uncommon on the Internet.  There is so much information, so much that you can offer people.  So many ideas that soon, an e-Business owner gets off the original "simple" idea.   

Guideline 1:  Have a well-defined objective.  Know where you are going at all times.  Nothing vague, but rather a clear goal.  For example:  Declare a target date for XX amount of sales, or site visitors, or income levels, but don't say I want to be rich by age 30 off my web site. 

Guideline 2: In order to have an objective, it is almost mandatory to have some sort of business plan. This includes a financial plan and a marketing plan. 

Guideline 3:  Don't walk into e-Business blind but at the same time – don’t hesitate.  Research and know your competition.  Look at them with an eye on what makes them special, or what makes them ordinary.  Look at the sites you research and determine if they are getting the message across.  Record their prices and compare against your prices.  Before you run off though and think “I am not competitively priced,” read guideline 4.

Guideline 4:  If you cannot or will not compete on price, then compete on service.  For example, within my writing services, I am not the lowest price writer in town. (http://Write4Me.net)  However, you get what you pay for with me, which is more then the original contract.  I research my/your topic and put myself in your company’s shoes, writing with your voice and not what I think is the cliché for the day. 

Guideline 5: You can't do it all yourself.  What good is a business that you have to spend 16 hours a day- 7 days a week at, in order to say I am successful.  Oh, you may have money coming in, and that is good, but you will need it for the divorce attorney or the heart surgeon.  When your daughter comes to you dressed in her graduation gown, yet the last you remember her - was when you changed her diaper, you are in trouble. 

You cannot be the chief cook and bottle washer, plus the manager, plus the accountant, and then the sales rep all at one time.  So allocate and protect your resources.  Outsource any of the services your customers need that you cannot or do not want to do. . Develop your resources and keep in touch with them.  Follow the Henry Ford approach to business.  You do not have to be the expert in every field, you just have to know the person who is, and work with that person.

Guideline 6:  Watch your funds.  It is great to have that new computer system, or glossy ad in the local trade journal, but only when you can afford to do it, and only when it is within the focal point you established in Guideline 1.  In addition, keep business funds separate from personal funds. 

Finally, check your progress every step of the way.  If you find yourself short of your goal, review your goals and determine where you strayed.  Do not make excuses.  You are doing something other people only dream of, so an occasional setback is not a reflection on you ability, just your experience.  

These are simply good business - common sense rules.  You would not build a house without plans, why would you go into business without a plan.  You manage your funds everyday when you take out your checkbook, but do you have a definite finance plan?  Do you wake up each morning with a clear defined goal for the day in mind?  When you go into business for yourself - you will.

If you want the ultimate in e-ticket thrill rides, then self employment should be your choice.  Some days, you will laugh, and cry all in the same day.  You may not succeed but you can't fail.  Failing only happens if you don't try.  Setbacks will occur, but the desire to succeed will keep you in the game.

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