Starting an Online business for many can be a big step into the unknown. In fact for many starting any business can have this same feeling and will take on a variety of emotions. Simply whatever new thing you do in life should, if possible contain a certain amount of preparation whether it is a business or not, preparation is king.
From many years of experience starting any business presents its own challenges but taking that bit of ‘extra’ time to decide and prepare will pay dividends and more than likely save you money in the long term and help to establish your new business.
First and foremost the business idea you are considering, is it something that you already do in some sort of way. If so, you then immediately have a distinct advantage, that interest or skill you already have means you have that ‘authority’ on it and a firm understanding on what is involved.
How much is it going to cost you? Consider not just the start up costs but ongoing costs that you will incur. Can you sustain a period of time of not making money, but don’t let that put you off. If you have planned it and worked out your cash flow with a decent business plan you will be able to see where you are going, and be in control.
It’s fine having the best business idea in the world but can you connect with your target audience? Do you realistically see and know who your customer is. Remember it isn’t everyone who wants your product or service.
Finally before all of the above is even considered what is your ‘why’. Do you really know why you are doing it, your vision, what is motivating you to make this step? Your ‘why’ should be written down and easily accessed at all times to provide a constant reminder of why you are doing it.
Online businesses are different because they exist within a virtual world; however it still comes down to the same fundamentals of building relationships. At the end of the day, people buy from people.
In summary, what is your why, do you know your product or service inside out, who is your customer, have you budgeted enough finance to support it and remember people buy from people.
