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