Based upon your business' present stage, one strategy of growth will be better than another. There are seven stages linked to the life of an online business. Let's call them:
- The Labored Origins
- The Toddler Stage
- The Adolescent Stage
- The Troubled Teenager Stage
- The Young Adult Stage
- The Maturity Stage
- Passing away or Renewal Stage
The first stage of your business, the Labored Origins Stage, is the most difficult stage. In this stage you will be building the building blocks of your business. With a shoddy foundation, you will have a stillborn company. With a solid foundation, your business will experience a long and wholesome life.
In this stage, you need to decide on the focus of the business, its product, its business plan, its marketing plan, financial decisions, it's legal form, and then launch the business. Many sleepless nights will go with this stage. You may wake up in a cold sweat wondering what the hell you do. In this stage, your emotions will swing between unbridled optimism and center palpitating fear.
Having successfully navigated the first stage, your business will develop into its next stage, the Toddler Stage. In the Toddler stage, your company is just finding its legs. It takes a few steps forward. It requires a few steps backward. It occasionally falls on its butt.
In the actual Toddler Stage, you are going to start selling your product on eBay(TM). eBay(TM) is undoubtedly the largest online auction site. If you want to make a great living selling online, eBay(TM) is the place to start. In this phase, you will fully establish yourself as an online seller. You will notice powersellers, the elite of eBay(TM). They are your models. Learn all you are able to.
In the Toddler Stage you should also begin to develop the first stages of the marketing plan implementation, including the use of business cards and starting to compile a subscriber list. As we leave the Toddler Stage, your business is starting to move now.
The Adolescent Stage is where your first major growth spurt may occur. You should begin to increase the number of auctions you tend to be running at eBay(TM). You will add auction management to assist you in building a larger selling load. You need to establish your domain level web site and step-up your marketing efforts.
Marketing will be key in moving your business to another stage, the Troubled Teen Stage. Why the "Troubled" Teens? In this stage your business can start to spin unmanageable. You need to establish systems to help you manage your sales and delight your visitors. You need to take a close look at your products and drop the reduced performers. And, marketing once again gets ramped up. Successfully executed, your actions in this stage will make you the Young Adult Stage.
In the Young Adult Stage, you will more firmly establish your selling presence on eBay(TM) by having an eBay(TM) Store. You will start to shift where you spend your period from auctions to more online sales. You'll need to add new items and weed out low performing products. At the same time, you will still increase your marketing activities to include click advertising and an autoresponder. These activities should take you to another stage, the Maturity Stage.
In the Maturity Stage, your business is securely established. Sound good? Yes, but it is also the second most harmful stage after your start-up stage. Why? Your business is doing well. The earnings are rolling in. You aren't working as hard because of the techniques you established. Why is this dangerous? You will have the urge to relax and put the organization on autopilot.
Shouldn't you be able to relax and enjoy the fruit of the labors? Of course. However, remember that each day others just like you're beginning to launch their businesses. And, they are coming after you. They need your customers. Now is the time to really assess your marketing initiatives. What's working? What's not working? Do more of what's working because 1 last choice remains. Are you going to renew your business or view it slowly die?
In the last stage, the Renewal or Death Phase, you need to learn to look at your business with fresh eyes and start this journey once again. On the second trip, you will have more confidence, knowledge and knowledge. You will also have acquired some bad habits. It's time to shed those and lead your company once more through the stages of its life. The beat goes upon...
In this stage, you need to decide on the focus of the business, its product, its business plan, its marketing plan, financial decisions, it's legal form, and then launch the business. Many sleepless nights will go with this stage. You may wake up in a cold sweat wondering what the hell you do. In this stage, your emotions will swing between unbridled optimism and center palpitating fear.
Having successfully navigated the first stage, your business will develop into its next stage, the Toddler Stage. In the Toddler stage, your company is just finding its legs. It takes a few steps forward. It requires a few steps backward. It occasionally falls on its butt.
In the actual Toddler Stage, you are going to start selling your product on eBay(TM). eBay(TM) is undoubtedly the largest online auction site. If you want to make a great living selling online, eBay(TM) is the place to start. In this phase, you will fully establish yourself as an online seller. You will notice powersellers, the elite of eBay(TM). They are your models. Learn all you are able to.
In the Toddler Stage you should also begin to develop the first stages of the marketing plan implementation, including the use of business cards and starting to compile a subscriber list. As we leave the Toddler Stage, your business is starting to move now.
The Adolescent Stage is where your first major growth spurt may occur. You should begin to increase the number of auctions you tend to be running at eBay(TM). You will add auction management to assist you in building a larger selling load. You need to establish your domain level web site and step-up your marketing efforts.
Marketing will be key in moving your business to another stage, the Troubled Teen Stage. Why the "Troubled" Teens? In this stage your business can start to spin unmanageable. You need to establish systems to help you manage your sales and delight your visitors. You need to take a close look at your products and drop the reduced performers. And, marketing once again gets ramped up. Successfully executed, your actions in this stage will make you the Young Adult Stage.
In the Young Adult Stage, you will more firmly establish your selling presence on eBay(TM) by having an eBay(TM) Store. You will start to shift where you spend your period from auctions to more online sales. You'll need to add new items and weed out low performing products. At the same time, you will still increase your marketing activities to include click advertising and an autoresponder. These activities should take you to another stage, the Maturity Stage.
In the Maturity Stage, your business is securely established. Sound good? Yes, but it is also the second most harmful stage after your start-up stage. Why? Your business is doing well. The earnings are rolling in. You aren't working as hard because of the techniques you established. Why is this dangerous? You will have the urge to relax and put the organization on autopilot.
Shouldn't you be able to relax and enjoy the fruit of the labors? Of course. However, remember that each day others just like you're beginning to launch their businesses. And, they are coming after you. They need your customers. Now is the time to really assess your marketing initiatives. What's working? What's not working? Do more of what's working because 1 last choice remains. Are you going to renew your business or view it slowly die?
In the last stage, the Renewal or Death Phase, you need to learn to look at your business with fresh eyes and start this journey once again. On the second trip, you will have more confidence, knowledge and knowledge. You will also have acquired some bad habits. It's time to shed those and lead your company once more through the stages of its life. The beat goes upon...