Best Business Practices For an Internet Marketing Company

People who treat there Internet marketing activities as a business will have far greater success then those who treat it as a hobby.

Imagine Olympic Swimmer Michael Phelps. Does he treat his swimming as a hobby or a "business" ? How less successful will he be if he only treated his swimming as a hobby?

You see success really goes to those who wants it and applies the actions that leads to success. Part of that actions is treating your Internet marketing efforts as a business. Some aspects that you must do are:

1) Your business' life is it's money. Meaning how much your business makes, how much it takes in and out etc.

You have to keep financial records of how your business is doing. Hire a bookkeeper to keep these financial report cards of your business at least once a month.

You need to be able to read and understand your financial statements. If you really want an online business, having accounting and financial accountability is key.

2) Apply small business principals to your online business. The fact that your business is online doesn't mean you can't apply sound small business strategies.

It  just means you can apply them easier and with less cost.

For example, what's the lifetime customer value of your customers? You know it's almost 10x times harder to get a new customer then it is to get a repeat customer?

Are you harvesting repeat customers? Are you asking them what they want, and giving it to them? Are you under-promising and over-delivering?

3) Build your business, not make money online. If you want to truly become successful online you have to build your business.

It's not making a buck. You are not trying to make money. Making money online is easy, what takes a little more effort is building a business.

That means you have to build your company. Build your brand and name recognition. Build your systems.

Create business assets. If you are your only asset, then that's a big problem.