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Do your research in the beginning, not in little steps as you go along. This doesn't mean you shouldn't educated yourself as you grow, far from it. It means you should know about traffic and where you'll get it before you build your site. It means you know what kind of costs you'll face while you build, grow, and maintain your empire.
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Fluffygrrl alluded to this earlier, and kroy seems to be around it as well.
a Great method of evaluating business opportunities is
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[edit] Assumption Based Planning in General
Conventional business planning methods operate on the premise that managers can extrapolate future results from a well-understood base of information from the past. However, for new businesses and projects this way of planning often does not comply. Most of the time there is no past-knowledge and if there’s any past knowledge available, predicting the future out of it is nearly impossible.
The managers’ solution to this problem is to make assumptions; their best try to predict the future. Some of the assumptions made during the planning process are very likely to come true; the outcome of others is very much uncertain, though not less important. Assumption based planning is about the identification and testing of the assumptions made in a business plan, the formulation of “hedging actions” and the construction of “what-if” scenario’s.
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