Nine Things To Consider When Starting An Online Business.
When starting an online business, like start any business, you need to do your due diligence. There are thing that you must consider and take into account before you start. Here are nine that I have come up with.
- Why are you starting an online business
- What niche are you going into
- Solve problems
- Business Plan
- It’s going to take work
- It’s going to cost money
1. Why are you starting an online business.
What is your reasons for wanting to start an online business?
- Want to work from home
- More time with the family
- Less over heads
- Work for yourself, no boss to answer to.
List your reasons, then ask yourself are these reasons big enough to keep me going when things get difficult. And do they outweigh the benefits for continuing what you are currently doing. Learn more
2. What Niche Are You Going Into?
So you have decided this is what you want and you have your reasons. Now what are you going to sell and who are you going to. There are hundreds of thousands of products and services available online just like offline. I would suggest that you go for an area that you are interested in. What doing passionate about? What do you really like doing? If you pick something you enjoy when things get difficult, and they will, it is easier to keep going.
3. Solve Problems
If you solve problems people will buy from you. Find the problems that people are having in your niche then go and provide a solution to that problem. Just like I am doing now. You want to know about starting an online business. I am providing information you need to know to do this. I’ll go into more detail in upcoming blogs.
Do you know where to start? What to do? And how to do it? No. Well then you are going to need training and or a mentor. This is no different from anything new that you want to do. You have to learn the skill required to do it. A mentor is a good start as that is someone that has already done what you want to do.
5. Business Plan
As the saying goes “If you fail to plan, You plan to fail” Yes it is very important that you create a business plan so that you know where you are going, how you are going to get there, and what you need to do to get there. With both long and short term goals. This will
take a bit of time to do but we be well worth the effort if you want to succeed. You must plan!
What are the foundations. These are things like domain names, web-hosting, building a website, setting up auto-responders, setting up a business name and registering it, getting an accountant etc. I guess some things above could be classed as foundations as well.
But it is very important to set up your foundations so that you can build a solid business that will last.
Building and running an online business can be a lonely at time, well most of the time really. We all need support and encouragement to keep going at time. Joining online communities of people doing the same thing can give you this support. Getting involved in a mastermind group or finding an accountability buddy is also a great idea, as you then have people that you can bounce and share ideas, problems and successes with and to keep you going.
8. It’s Going To Take Work
Yes it is going to take work (time and effort). I don’t know why but for some strange reason when it come to building an online business people seem to think that they can put very little work and be making a fortune in a matter of weeks or months. Setting up and running an online business is really no different than any other business. Sure you can leverage the internet to make things more efficient but you’re still going to have to put in the work.
9. It’s Going To Cost Money
Yes like any business, it is going to cost you money to build and operate. Sure you don’t have the same costs as an offline business. But you do have things like web hosting, domain registration, autoresponder subscriptions, training, accounting fees etc and then you have the cost of advertising as well. And this must be considered before you start. Do you have the funds to do this?
Over the upcoming blog I will cover each of these topic individually in more details. So it my next blog I will cover “Why are you starting an online business“
If you other other things that I have missed or you think also need to be considered please put your thought in the comments below.
Have a fabulous day