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Thursday, August 18, 2011

Applying Lessons from Past Experiences of Other Business Owners

JoAnn Lombardi
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The basic rules of business strategy remain the same in the age of the Internet. Like selling gum in a store, selling products on a computer screen isn’t about technology. It’s about what you’re selling and if there is a demand in the marketplace and marketspace.

 

For example, a technology business develops something new that cannot be easily imitated. This is the great lesson of the Internet failures. New business can be understood by looking at the successes and failures of the past.

 

When it comes to your business and planning your marketing campaign, you will want to review your strategy that you’re creating and compare it to what other businesses have done before. Make sure you protect any new technology with patents or trademarks through creating barriers to market entry. Be sure to examine your goals and decide if they’re realistic and reachable.

 

When it comes to reaching your target market, you want to do it effectively and economically with a strong marketable idea. You should also stage an accurate market test. Look at the ways that the Internet can drive your business plan further or faster. Most of all; be realistic. Examine all the different scenarios without losing sight of what is reality.

 

You can develop a strong market strategy if you pay close attention to what other businesses have done in the past and currently. Applying these methods will help you reach your goals.

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