Starting a Business Online – Five Must Ask Questions
There are five key questions that any serious online business prospector should ask:
1. Why am I looking to run an online business?
2. What are my income goals?
3. How much can I afford to invest?
4. Can I start small and grow my business?
5. How do I spot the scam online business opportunities for the genuine article?
Why am I looking to run an online business?
The most important question to ask is: Why do I want to run my own internet business? It is not enough to simply hate you current job. If it’s that bad then find another job. Starting an internet business opportunity is not about changing your job it is a decision that will change your life and if done properly can change your life substantially for the better. It can bring you wealth and more time but only if you are prepared to do the groundwork first. This is hard work and there are no overnight successes.
If you think that starting your own web business is an essay ride then an online business opportunity is not for you. If you are an individual able to take big bold decisions, standout from the crowd and become a leader then you may well be suited to running your own web business.
What are my income goals?
There is no point starting you online business (even the research) if you do not know what your income goal is. An income goal is how much you want to earn from your business – it is the salary that your business will pay you. It is important to bear in mind that you are unlikely to earn you monthly salary goal in month one, two, three, six but may start around month 12 if you are starting small and depending upon your investment capital and what online business systems you choose to invest in. It is, however, important that you have a clear income goal.
Remember that and income goal is not the same as a business turnover (the amount of money that a business generates). It may cost you 30k to gain a salary of 60k it may cost more it may cost less. It all depends upon what online business you choose to invest your time and money in. Be realistic. Look at how much time and money you can afford to invest in your online business opportunity and as a rule of thumb: a business that costs you nothing will do exactly that – give you nothing.
How much can I afford to invest?
In all new business venture there are start-up costs and usually continuous running costs (also called bottom line costs). This means that there are usually upfront start-up costs and operating costs that need to be maintained by investing back into you business. You need to decide how much you want to invest be it £/$/¥ 100 or 30k. What you decide to invest in most cases will be directly proportionate to what returns (income) you are likely to receive. Don’t expect a 60K income form a 100 dollar investment. It won’t happen.
Can I start small and grow my business?
If you don’t have investment capital that runs into thousands or tens of thousands it is still possible to earn good money online that in time can become substantial incomes. It just takes more time and a lot of reinvestment of profits. If you are new to investing in and running online business it is often wise to invest with sums that you feel comfortable with. The most effective way to do this is a with a commission based business that offer you the change to earn commission on the business leads that you generate for their business that converts into sales. You earn a percentage commission on each sale. This commission can then be reinvested in to growing your business that may well be a subsidiary of theirs of a franchise. This is all possible if you choose the right online opportunity. This is a relatively low risk way to start your online business.
How do I spot the scam online business opportunities for the genuine article?
There are vast numbers of companies online offering great business opportunities but the majority of these companies are simply scams making honest people part with their cash while selling them a dream. It is vital that you invest only in a legitimate online business. There are a number of ways to check if the business opportunity you are considering is legitimate:
1. Are there real people behind the business, can you talk to other business owners investors, are their contact details available? Will they take the time to talk to you about their business and not ‘sales pitch’ you.
2. Many legitimate business will off fully integrated marketing systems that will offer a fully integrated and personalised online marketing and customer service system which should be coupled with detailed traffic , lead and sales tracking capabilities. These systems should ideally be supported by a professional call centre to assist with any business related issues and help convert leads into sales.
3. Training is an absolute. If you are investing in and running any online business you need to understand how the system works and how to use its. A reputable online business operator will off comprehensive training regarding their business. Look for: video training libraries, marketing plans for various budgets and experience levels, weekly educational webinars and teli-seminars, entrepreneurial mind set training, live events where you can meet other investors and business owners and continuous training such as master classes and leadership programmes.
4. The Mentor. All of the above counts for nothing if the opportunity cannot offer you a mentor. The mentor is someone who already operates successfully within your chosen online business and with whom you are able to turn to for advice, help and questions. They should be available either by e-mail, phone or web/video link or preferably a combination of all three.
In summary you should establish why you want to run your own online business, your goals and aims, both personal and financial. Be clear about the income you want to generate. Decide how much you are able to invest. If you want to start small, decide how small and be prepared to reinvest the profits. Lastly, check that the business has real people behind it, whom you can contact, who will train you in their online business system and that they have a vested interest in your success.