Small Business in a Big World

October 23, 2008

It All Begins with Setting Specific Small Business Goals

Set some specific goals. These can be soft, like “grow 50% this year”, or ambitious, like “dominate my industry online”.

As online markets mature, a leader emerges in each sector along with a handful of smaller niche players. Think Amazon or TradeMe. You need to choose between being the leader and eating leftovers.

Set some Key Performance Indicators and review them every week. Good KPIs to start with are — unique visitors; conversion rate (the percentage who convert to a sale/enquiry); and web revenue (the amount of revenue resulting from the Web site). Cool, isn’t it? And it all begins with setting specific small business goals.

Source: Sci-Tech Today


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