5 stages to building a lucrative business online

Building an online business is definitely a serious commitment that any internet entrepreneurs must have. To ensure that any form of business ideas turn into a viable online business, there are essentially 5 stages that one must adhere to build a lucrative business online.

The first stage, also the utmost important one which many ignore, is conducting niche research. This is one necessary stage to ensure that you research for a niche market instead of dwelling into developing a seemingly hot product based on your instinct. Here, you are building a strong ground for your online business which is always in high demand. Finding a niche market that determines what to sell and who to sell to is your ultimate concern here. The steps to conducting a niche research can be summarised as follows:

(1) Analyse the common searches (i.e. what is commonly typed into URL for searches?)
(2) Measure the supply and demand of your potential product
(3) Analyse competition for similar product
(4) Develop/Source product

After finding your niche market and develop a niche product which caters to a specific group, you are ready to procceed to stage 2 - Build a Sales Website. Having a website is akin to a traditional business store which displays your product. There is no salesperson to promote your product. Now, it is your resposibility to generate a convincing salescopy that turn prospects into buyers. The steps in stage 2 to a lucrative business online are as follows:

(1) Write a powerful salescopy for your products
(2) Find and Set Up Hosting and Domain Name
(3) Design Your Website which revolves around your salescopy
(4) Setting Up Opt-In forms to capture and build prospects list
(5) Create Payment mechanism to get ready for product launch

Having a product and salescopy in hand, anyone must be excited to launch the products immediately. Instead, I recommend for a pre-launching testing which requires to

(1) install analytics to measure result
(2) start driving immediate traffic using PPC
(3) Always test, test and test to ensure optimal conversion

Don't get too excited and skip this stage in building a lucrative online business!

You are ready for a full launch after stage 3 and now you can aggressively work on stage 4 - targetted traffic generation. Here, you are bent on driving targeted visitor to your site who stand a higher chance of opting in and eventually become your customer. You are concerned with quality traffic here. The following marketing strategies are recommended:

(1) PPC
(2) SE Marketing Campaign
(3) Content Distribution
(4) Web 2.0 - Blog, Video and Social Networking

The last stage talks about advanced tactics that can propel your online business to a greater height. You can:

(1) build an affiliate system recruiting super affiliates to promote your products
(2) make use of Email marketing and offering Newsletters
(3) Use Autoreponder technology to set a specific date to send email to your list
(4) use Direct to Desktop technology that provides real-time communication with your list
(5) Upsell and value adds