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3)Development This is where you will write down how you want your business to be in future. Regardless of what stage you are at, you should include a vision of what you want your business to be. This could be done by setting up a series of goals which you intend to accomplish over time to achieve that vision.
4)Financials Your internet business would certainly incur expenses. Keeping and recording a set of accounts of your business is important as it tracks all your income and expenditures in detail. It can tell you if a certain marketing strategy is giving low returns or making high profits, helps you determine your monthly budget and net cash flows and also helps you decide if you should cut costs or to find a way to increase income. All these would go a long way in helping you manage your cash flows.
Once you have written down your business plan in detail, you will be amazed at how often you refer to it. It helps you stay focus on what you are doing as new business opportunities will always appear at your doorstep may tend to distract you. It helps you make best decisions when faced with problems or choosing where you should spend your money in process of expanding your business.
Michael Tee is the webmaster and owner of http://www.ebizmodelsyoucancopy.com/. Visit E-Biz Wiz Blog for proven ideas, tips and information on starting your own Internet Business and subscribe to the 12 Day Internet Marketing Success Course at http://ebizmodelsyoucancopy.blogspot.com/.