If you’re thinking of starting a business, you need to read this post.
Quitting the 9-5 is everyone’s dream, and I’m happy to say I quit the 9-5 over 12 years ago. Having said that, I am now busier than ever and have made Internet Marketing my main source of income and success. As an entrepreneur, I have gained experience in the Offline and Online business circuits, and I love sharing my experiences and helping others starting a business get up and off the ground.
Starting a Business Online
With so many ways to make money online, it can seem daunting when you try and business opportunities in 2011 is no exception to that. It’s true, you really can make money online – Internet Marketing is a very lucrative field, but you won’t make a cent without alot of hard work and commitment.
I see lots of people selling ‘fast dollar$’ – ‘Make $478,639 in 3 days’ ‘I made $30,678 in my first month’ ‘make 100,000 in one click’ I can tell you right now, it’s not going to happen. There are thousands of products out there claiming to be the next big thing, promising huge income, showing you the secret to making millions of dollars just by using a piece of software or by clicking your mouse.
Think about it – if you had found a way to make a million in just a few days or even a few months, would you sell that for $47?
Well, this is best business advice you’ll get this year, so read on, or check out my other post here – Top 10 questions to ask yourself when starting a business
How to start a business
The key to starting a successful business online is to Plan.
So many people fail because they don’t see internet marketing as a business. They fail to take notice of the common pitfalls and traps that apply to EVERY business, whether you are running a small store or creating the next technical gadget!
Once you’ve decided to start a business, I would always recommend writing a business plan. It doesn’t have to be a professional 25 page marathon, just a simple what where why and how. Below are things to consider including in your plan for online or offline domination…
- What Market Am I Going Into?
- Who Are My Customers?
- Where Can I Find Them
- Who are my competitors?
- What can I do better than them?
- What Am I Going To Sell?
- How Much Will I Sell At?
- How Will I Promote?
- How Much Will I Need To Start Up? (seed money)
- What Will I Spend My Seed Money On?
- How much money do I need to make?
- How long will this take?
- What are the risks involved?
- How can I avoid them?
Having helped prepare professional business plans for all types of business start ups when I was doing offline business consultancy, I guarantee the points I have listed above will really help you see a light at the end of the tunnel and will also help you stick to your long term plans and goals.
This is just a few of the points you will need to consider when you decide to start a business, and the list is not exhaustive. Sometimes a little cashflow sheet of all the anticipated in’s and out’s of your business is a good idea, especially if you are going to outsource some aspects of the business. There are many free resources online to help you start a business, but I would think that just answering the above questions and writing them down carefully will help you produce a business plan that rocks!
Good luck and please share important points you consider for starting a business below.