If I was to ask, “is starting your own online business is right for you?”
What would you say?
Year after year millions of people answer “Yes” to that very question and every year that very answer costs many people time, money, heartbreak and confidence.
There are 2 key factors in your online businesses survival and ability to thrive:
Your education level on your niche and your own reason for starting the firm in the first place.
How can you make sure that you are hanging amongst the winners rather than the sitting with the losers in this high stakes game?
The answer is inside of YOU.
You must ask yourself these 4 key questions to determine whether your online business will Survive and Thrive.
Are You Ready?
Have you mentally, physically and spiritually prepared yourself for the switch from employee (or student or whatever label fits you currently) to Online Entrepreneur, CEO or Boss?
You are going to be the one making decisions now about everything from:
What Niche Topic your going to base your website on,
To what type of content you will be providing on your site,
From the courses and online products being sold,
All the way down to the type of traffic you want to reach and how to reach that traffic.
Related Article: The Keys to Success: Affiliate Marketing And Niche Website
This benefit of having total control is one of the driving forces behind many entrepreneurs who take the 1st step into starting their own online business.
But it is also one of the elements that drives new entrepreneurs bat shit crazy.
When you 1st start out there is an endless list of decisions that need to be made and new questions that pop in your head up every day.
Honestly in my opinion, this is the fun part, because you’re learning something new, something that most people dont even have the patients to even think about.
One important factor you will need to remember when getting to the online business world is that you will wear many hats.
Even if you manage to start by yourself or one or more business partner, you will each fulfill more than one role in your new online business.
But also note that, if you are running a one-man or one-woman show, then you serve in every capacity from CEO down to the salesman/ marketer all the way down to the maintenance crew.
Can you handle that pressure of switching from task to task and role to role like that?
Are you willing to make those switches? Don’t fear this too much, no lie, it will be stressful in the beginning, but if you preservere, and keep pushing through, eventually you’ll find your groove, and everything will start to move more smoothly.
Similarly, you also have to prepared your family and friends for this switch in attitude as well. Your life is going to change, and probably pretty drastically too.
That change can have a positive or a negative impact on your family life and/ or social interactions.
Getting your family and friends involved and supporting on what your doing, will make things so much easier.
Everybody will have a understanding, and not too mention, they can also help out and tell their friends as well.
What Is Your Niche?
Have you figured out your niche yet?
One common reason many online businesses fail, is that they tend to not to focus on a specific target audience.
But because online businesses dominate the online marketplace (creating more than 50 percent of the private gross domestic product last year) by finding a different approach….
A Niche .
Knowing your niche (Topic of Interest) means you are better able to find, target, and maintain your readers/customers as well as provide the best possible goods and services to that customer base.
That target focus is one of your best chances to not only survive but to thrive in a very competitive marketplace.
What Is Your Plan Of Action?
Another key factor in the survival and having ultimate success with your online business, is how much research and planning you do before you launch your website.
A few things you might want to also consider when starting an online business….
- Are you going to work full-time or part-time on your new online business?
- Have you written (or at least outlined) a business strategy plan?
- What type of product will you be selling on your site?
- Who will be your affiliate partners that will work with?
- Are you going to have a business partner, hire employees or run everything solo? (which is still possible to be successful just alot more work)
Dreaming, thinking, researching and planning can save you much trouble and waste later when things are hectic and problems strike. But planning can also help keep you focused and to balance your spending and time.
See Related Product: Time Management For Entrepreneurs
Who Are You Going To Call?
At some point and time, no matter how experienced your are as a businessman, your going to need help.
You will be in need of support, advice, tools, some kind of information, or maybe all the above.
One of the most beautiful, and most frightening aspects of growth, is that it can most definitely lead you to places you never imagined.
No matter how much research, planning and experience you may bring to your new business, the unexpected will arise.
How will you handle with this?
It is important to realize that running an online, or any business is no peaches and cream.
“It is not failure to seek help, it’s only failure when you give up own your business, because you didn’t seek the help you needed.” ~ Devin Lamarr
And I say this because, I myself am guilty of this. A lot of 1st timers are guilty of this as well.
One of the best ways to get timely help in my opinion with building your business, is to work on your support system.
That way you will already have a ready list of resources available at your fingertips, that you can quickly access into when emergencies strike.
In today’s world there are hundreds of thousand of marvelous resources available to you no matter what your business model may be. These include:
~ Publications (newsletters, magazines, books)
~ People (professional advisers, mentors, teachers, consultants)
~ Networks (organizations and forums that are of your niche as well as in general business and marketing)
After you have answered these 4 key questions, you are now ready to ask yourself that one big question again
Are You Ready To Start Your Own Online Business?
What are your thought on this post, please share and comment below.