Tips for Starting a Business Online

Starting a business online is very different to starting a traditional business. Here are my top 10 tips based on my own experience of doing this. Each tip relates to my own experience so if you need any help with any of these, please feel free to contact me and ask a question or schedule a complimentary consultation.

1. Be true to yourself. No matter how much money someone else makes, if you are not passionate about the business, wouldn't be proud to show your relatives what you are doing and how you are doing it, then don't do it. If you run a business you are not passionate about this will come across to others and you are unlikely to succeed. Find out more about turning your passion or hobby into a business.

2. Find a need and fill it. It is obvious but it works. The easiest business to run is one that produces products or services that people already know they need. Using the internet you can position yourself so that people find what they are looking for and you can focus on why you are the best source to satisfy their need.

3. Control your costs. Restrict your spending in the initial phase until you are generating an income. Consider a model that monetises every step of your marketing plan so that even if a customer doesn’t buy your product or join your business you are able to generate some income. To find out more about how I do this, schedule your free consultation using the contact me form on my contact page.

4. Be true to your customers and prospects. Don't promise what you can't deliver and don't lie or exaggerate the benefits of what you sell. The Internet and social networking sites spread the word (good or bad) to even more potential customers.

5. Be honest about your skills. Identify your strengths and weaknesses and find help where you need to fill a gap. Assess your computer and Internet skills and educate yourself where you are struggling.

6. Learn how to market on the internet. Marketing on the Internet is very different to offline advertising and marketing. Understand and learn how to do it effectively. Embrace the web. No matter what you sell or to whom, there's a good chance your customers will turn to the web in one way or another to make their purchase. Consider my Free Training on Internet Marketing.

7. Don’t spend a fortune on a website in your first couple of weeks. Believe me you’ll want to change your website after a few months when you get to know what you’re doing. Learn about some of the free marketing that you can use until you are generating some leads and income. Consider my Free Training on Internet Marketing. Whilst this is aimed at Network Marketers it is just a relevant for any business.

8. Take one step at a time. Unless you are currently now working, you may have to start in your spare time. And don't expect miracles you won’t become rich overnight! Yes, people do make money in their sleep or while they're away on holiday; the Internet makes that possible. But this will only happen after you have invested a lot of time and effort in building the business and building the team that keeps it going and growing.

9. Don’t put all your eggs in one basket. One product, one service, one main client, and all your records stored on one computer hard drive without regular off-site backups is a recipe for failure. If you only have one product or service you're missing out on the chance to profit by selling more things to people who already know and trust you. Ensure that you learn how to monetise your business model at every possible stage.

10. Consider how to position yourself as an expert. Regardless of your product or service, on the internet people are more likely to buy from someone they know and trust and not a nameless face. Identify your own strengths and skills and build a relationship with people that you can help. They are far more likely to buy from you if you do this.

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