Duplicating your online business is one of the trickiest part of an Entrepreneur’s career. Yes, when it comes to Internet based business it all depends on the nature of success and what kind of experience you have ? And how do your existing business operates ? And how its making money for you ? Ideas are the base factor for any business and duplicating such ideas for another business may yield you the same results in most of the cases. Again, it depends on how you are applying that idea ? And how you duplicate it ? This article is for those who are looking to make a duplicate copy of their existing online business.
The topic or this discussion looks more generic as it’s not focused towards a category say, blogging or affiliate marketing or an e-commerce business. At the end of this article, you should be able to deserve the steps or factors involved in duplicating your existing business/venture.
Results of Your Existing Business.
There should be a trigger for every step. And you have decided today to duplicate your online business because of the results. Yes, the results that you have seen with the first business make you to think about duplicating it. I would say, that’s a great decision. And one of the first step, seeing or reviewing the results of the existing business.
- Keep a note on, what you have invested ? Money, Time and the amount of work. What you have achieved ? Money, Traffic, Sales, Customers etc.
This way, you could make a strong decision that, duplicating the existing business brings great success ! Also, helps you to understand the big picture of your online business even better.
Your Experience Matters.
Experience is the accumulation of the knowledge that you gained in operating that business. It helps you to leverage the new business by duplicating the efforts/experience that you gained. Practically speaking, list down, what you have understood and what you have gained, in terms of operating the business.
- For example, if you are already running a site (targeting to drive sales) then list down the key factors that you incorporate for driving sales. Like, how you drive targeted visitors ? What are the source of these visitors ? Which source of traffic converts good ? etc.
This way, you will be clear with the steps or approaches that you take in operating your business towards success. Even, if you want me tell short, list down the day-to-day activities.
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Duplicating The Frame Work.
Whenever you want to duplicate a business, you must need the Framework. That should be the skeleton for your business. What else you do, should go over that skeleton. In other words, from the experience and the results you have in hand, bring up the steps to duplicate the business. List down the activities.
- For example, finding good domain names, web hosting selection, development/web design, deciding the target audience, marketing and promotion, driving visitors etc. Be prepared and have a business plan in hand.
Avoiding OLD mistakes.
Once the plan is ready, you could start your duplicated business anytime. Before that you have to run a “flash back”. Do you remember, what are the mistakes you did in the earlier stage of your original business ? If you are able to recollect those mistakes, you could easily avoid them here. Learning from mistakes, the greatest achievement of every business.
Simply saying, keep a note on the mistakes you done earlier and avoid it for the new business. This way, your basement becomes stronger and stable !
Finally, building a duplicate online business will become easier, if you follow this approach. It all depends on how you are applying the existing knowledge and experience for the new business. Internet based businesses are easy to duplicate provided you have a proper plan and experience in hand ! Whatever you want to duplicate either a blog or an online store, its worth too !