Starting a Business Online – 10 Things I Wish I’d known Earlier

by Adella Pasos June 22, 2018
start a business online

Starting a Business Online – 10 Things I Wish I’d known Earlier

Running a business is a serious commitment. As a business owner, you are in a world where no one is dictating for you what to do. When starting a business online, you are absolutely responsible for the actions you take. Your success or failures depends on your actions and inactions- things you do, and things you refused to do. I have been an entrepreneur for some years now and even I’ve made mistakes. I’m here to help you learn from these mistakes and help you become a better entrepreneur and business owner. Starting an online business whether in drop shipping, a retailer or as an affiliate marketer you need a set of solid business plans. People are willing to pay for your products or services all across the world. You just need to allocate your time and money in the right way.

The journey to becoming an online business owner is not a day journey; it involves a lot of ups and downs. What you may not know about getting started is, starting a business online is filled with unexpected detours, forks and bumps. I have learnt from my mistakes and they have really helped me to get the level I am now. Here are 10 things I wish I’d known earlier:

Running a business is a serious business

Most people think that selling products and running a business involves pursuing their passion. I am here to tell you that there is more to it. As a business owner, you will spend quality time developing strategies, interacting with your customers, selling, handling administrative tasks, marketing, invoicing, payroll, bookkeeping and sometimes even being a web designer. I know this is not what you may have bargained for when signing up, but just know sometimes you’ll have to wear multiple hats.

It is not just making profit, it involves helping others

As business person, making a profit is good but that shouldn’t be your ultimate objective. Your potential customers are going to be there to validate your business idea. When starting a business online, your goal should be making the lives of your customers better. Your job as a business owner is to help them solve their problems. Once you realize you are there to create a solution, you will start offering superior products or service to your clients. Also, this will go a long way in attracting more customers. When starting a business online, make sure your website has updated contact information and helpful areas that provide direction.

Understanding cash flow management

You should try everything in your power to understand cash flow management. Cash flow is the live wire of your business. Take time to study the art and practice of financial management. If you neglect to do this, you will find it extremely difficult to manage your cash flow or you will be spending more than you are making. Create a budget and justify every cent you spend. This will help you to know exactly what you are spending your money on. Starting a business online can be a unique opportunity to start with no money. Ideally, you’ll want to create a profitable online store fast. This means, you are not spending as much as a brick and mortar retail store would. However, if you don’t understand cash flow management, then you shouldn’t be in the business in the first place.

Branding is the real deal

When you are running a business, there are so many things that can’t wait. Branding is one of them. Allow a graphic and web designer to design a branded logo, user-friendly website and business cards for you. The graphic design needs to reflect your target market and types of businesses or consumers you are looking to reach. User experience is everything. Make sure you setup your website and social media to match so you can start selling right away. These things are also very important and doing them shows you are really in a business.

 

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Focus on your area of competency

Do not run a business you have no idea how to go about it- doing this will completely drain your energy. Although, you may be making money with it, but you may find out that you are getting more stressed than being happy. The business you are doing should be giving you optimal satisfaction. Thus, before investing your time and energy in a business, make sure it is something you are happy doing, as well as something that will create a solution to the problem in your community.

Get better

Running a business takes time, energy, action and requires determination to improve. Do everything within your power that will help you perform your tasks at an optimal level. Become a highly sought after in your field. Feel free to share your knowledge, and experience with others. Update your knowledge by reading relevant business books and attending workshops, and you will never run out of quality ideas.

 

 

Learn to work smart

Hard work is good; it pays. But it is better to work smart, than to work hard. This is where many people get trapped. They erroneously think that having a business equal’s productivity- productivity is all about results; it means engaging in right activities and getting them done in a proficient manner. There is no point to work hard, instead working smart is the real deal, and it will help you to achieve more with less.

Get a mentor

You can’t do it alone, you need a mentor. This person must have been doing excellently well in business, so getting in touch with them, and following their guidelines will help you to become a better business person.

Celebrate your achievements

This is very important, recognize and celebrate your achievements. If you reach a milestone, celebrate it and keep moving. This will help you to be on track.

Engage with your target audience

Find a way of connecting with your audience- your clients will like to do business with a real person, not a nameless, faceless organization. Engaging with your clients is one of the most important tasks you will have to do- doing this will inspire them to keep on doing business with you.

 

How important is it to you, to start a business online?

 

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