This is Part #1 of a 10 part mini-course:

Setting your online business goals:

The process of setting goals and objectives and then designing strategies for attaining them is essential when starting an Internet Business. So, you end up with what is called a business plan.

To set specific goals for your new business, first ask yourself this question:

Why do I want to start an Internet Business?

We already covered this in the early chapter, which is why you’re reading on! Okay, next question:

What product or service can I offer to the people on the Internet?

OR

Do I have a product or service that people are looking for on the Internet?

To save you some research work, I’ve included the list of Top 17 Best-selling items / categories on the Internet below:

1. Clothing
2. Toys and Video Games
3. Electronics
4. Computer Hardware
5. VCDs / DVDs
6. Books
7. Greeting Cards
8. Home Furnishing
9. Jewelry
10. Health
11. Travel
12. Automobile
13. Real Estate
14. Online Trading
15. Music
16. Food
17. Sports

When identifying a need, doing market research is part of your homework. One of your first steps should be to find out what it means to do business online and to determine the best ways for you to fit into the exploding field of e-commerce (electronic commerce). The more information you have on the following aspects of the Internet, the more likely you are to succeed in doing business online:

Competition: Familiarize yourself with other existing Internet Businesses that are already doing what you want to do.

Customers: Research the various kinds of customers who shop online and who might visit your site.

Environment: Explore the special language and style of online communication – in other words, know the culture of the Internet. If you are not yet familiar with the culture of the Internet, then the best way to learn is to subscribe to e-zines (electronic magazines) and newsletters for your reading.

Write all your ideas down on a piece of paper. Ask yourself, “What do I have that people are looking for on the Internet?” Take your time. This is not supposed to be an overnight activity. So, don’t be surprised if you take days. Taking your time and doing a thorough market research on the Internet beats jumping onto an opportunity at first sight.

Would you be intertested in making money with your blog?

You’ve seen the towers on hundreds of sites ever-changing boxes of text ads that reflect the content in front of the reader’s face.  If you are reading about an election, the ads may be related to political parties.  If you’re reading about automobiles, the ads may be hawking car parts.  Whatever the ads are selling, they are somehow related to the content and therefore of interest to the reader.

The most popular ad program of this nature on the internet is Google’s AdSense program.  Google ads can be found on thousands of blogs and retail sites, and there’s a reason for it with AdSense you don’t need to choose which ads you’ll display and you don’t have to find your own advertisers.  You simply sign up for the program and Google will scan your page, assigning advertisements based on your content and displaying them in a box (or tower) on your page through a small piece of code you integrate into your design.  When a reader clicks on the ad, you receive a commission for delivering that reader to the advertiser’s website.  Because the ad content is related to your page, the odds of a reader clicking are much higher than random ads you might otherwise feature.

But Google’s AdSense is not the only choice available; the number of blog-ready ad programs has multiplied with the popularity of the blog business.  Other choices include programs dedicated more toward blogs, give you control over the advertisers on your site, and pay your commissions online, even in small amounts.

A few smaller programs worth exploring are:
Blog Ads
Crisp Ads
Grokads
Tagword

New ad programs arise every day, but it’s important to decide, before you commit, if a programs will give you the best return on your limited ad space.  Check a few of your favorite blogs to see what they are using.  Compare the content of the page to the content of the ads.  Decide if you feel motivated to click on an ad. If you feel the temptation to follow an ad to another site, chances are your readers will feel it as well.

The second pay-per-click type is less direct but perhaps more profitable in the long run: associate or affiliate-based programs.  A one-time option (called one-time because you’ll get paid once for every sale) is available through online retailers like Amazon.

Have you ever seen a book review that featured a clickable link allowing you to buy a book right at the time you’re thinking about it?  Chances are that the site you’re reading has a deal with the retailer for a cut of the purchase price.  Amazon’s Associates program will provide you with a user id and code for any item they sell, giving you a kickback from any sale made via your site.  There are literally hundreds of retailers that offer similar programs, so if you routinely talk about any item sold online, be on the lookout for ways you can profit from the interest you are creating in your readers.  If someone is going to profit from your writing, shouldn’t it be you?

But other associate and affiliate programs are available that may continue to pay you even after the first click.  For example, if you’re talking about blogging a site like make money blogging, joining their affiliate program ahead of time can result in a lifetime of profits from a single post and banner.  In the case of Unleash My Marketing, readers can sign up for a free online course guaranteed to help you with your Internet business.  If they purchase the full course, you receive a percentage of the sale price.  If those customers become affiliates, you receive a small percentage of their sales.  It’s 2 tier affiliate program can result in a growing number of referrals.  When you mention the product on your site, be sure to feature an unobtrusive banner or text ad.  It will remain on your site, continually building your customer base, even as those customers seek customers of their own.

It is important, however, not to post simply for the purpose of selling, because your customers come to read your content, not your ads.  It’s doubly important to check the reputation of any company you advertise.  The internet is full of scams, and your customers will not appreciate you taking part in any scheme that bilks them out of money.  Your reputation is paramount and you want to protect it even at the cost of missing out on a few dollars of short-term revenue.

To learn more about how to make money with your blog