starting an online business john roggenkamp. are you an entrepreneur?

Starting An Online Business

John Roggenkamp

Are You An Entrepreneur?

Can You Handle A Business Doing 2-3 Million in Sales Per

Year?

Can You Operate Eight Web

Businesses At Once?

Can You Also Operate Two

Retail Stores?

In Two States?

Do You Have the Talent or Can You Hire the Talent?

Can You Manage 25 Employees?

How Will You Handle Your Business When

the Site is Down?

How Will You Handle A Break-In?

9/11

Recession.

A Wanted Criminal is On the Loose.

Can You Ship A Semi Load A Day?

Your Dropshipper Has Frozen Your

Credit Line.

You Have Been Sued.

Your Employee Tells You That the UPS

Man is Making Her Uncomfortable

Your Employee Says She Didn’t Get

Her W2

Are You Prepared to Dine with CEO’s of $500 Million Dollar

Companies?

Do You Have Enough Capital Resources

Available?

Can You Visualize Where the Business Should Be in 1,3,5 Years and Beyond?

How Do You Plan to Exit this

Business?

Do You Have What it Takes?

Are You An Entrepreneur?

Why Do I Want To Do All of This?

Profit. Increase Your

Standard of Living

Challenge Yourself & Learn New Skills

Help Others

Change Your Family Tree

Flexible Schedules

Work From Home

Sense of Accomplishment

It Starts With An Idea or an Opportunity

My Story

Education•BA Business•MBA•MLIS Library Science

Experience•Retail: 20 yrs.•Biz Libraries: 15 yrs.•Parent: 3 yrs.

Online•Retail: 9 yrs.•Own Creative Brains•Own Bright Penguin

1. Idea

• Write It Out• Share With

Trusted Friends

1. Idea

• SWOT Analysis

Stop!

Is This Still An Opportunity?

2. Research

• Primary• Secondary

2. Research

• Industry Margins• Industry Trends• Competition

2. Research

• Products?• Services?

2. Research

• Work from Home?• Lease Space?

2. Research

• Physical Inventory?

• Dropship?

2. Research

• Vendor Contracts• Vendor Limitations

2. Research

• Shopping Cart• Build it Yourself

2. Research

• Who are Your Customers?

• How Will You Reach Them?

2. Research

• Paid Ad Campaigns?• Organic?• Affiliate?• Social Media?

2. Research

• Business Name• Domains• Form of Ownership?

2. Research

• Single Owner?• Partnership?• Corporation?

2. Research

• Capital Requirements

• Project Financials

Stop!

Is This Still An Opportunity?

Invest Time,Not Cash

3. Getting Real

• Develop Business Plan• Small Business Development

Center• Network with Others• More Research• Consultants, Experts

3. Getting Real

• Franchising?• BizBuySell.com

3. Getting Real

• Meet with Lawyers• Meet with

Accountants

Stop!

Is This Still An Opportunity?

4. Making It Happen

• Finalize Biz Plan• Make It Legal• Secure Capital

4. Making It Happen

• Purchase Domains• Vendor Agreements• Select Shopping Cart• Build Internet Store

4. Making It Happen

• Merchant Accounts• Business Policies• Trust Labels• Site Design

4. Making It Happen

• Create Ads• Establish Affiliates• Facebook, Blogs, Twitter, etc.• Organic Traffic = Future

5. Evaluation

• Perfect Operations• Look for Opportunities• Outsource Skills

5. Evaluation

• Is It Profitable?• Are You Enjoying It?• Is There Potential?

Is This Still An Opportunity?

Business Plan Resources

• Small Business Development Center• Workshops and Education• Librarians• Primary Sources• Your Personal Network• Trade Sites, Books, Articles, etc.• Interviews, Consultants

Domain Resources

• GoDaddy.com• Networksolutions.com

Shopping Cart Resources

• Yahoo Small Business• Volusion• 3D Cart• Simple Widgets

Online Ad Resources

• Google Adwords• Google Product Search• Yahoo/Bing Ads• Facebook Ads• Shopping Portals

Trust Label Resources

• Authorize.net• Better Business Bureau• McAfee Secure• Trade Associations• Green Labels

Thanks!