Starting Your Own Successful Online Business: Here’s What You Need

In these days of the internet, starting and running your own business is not something that you need to really sweat over. With a computer and internet connection you could be in business in a matter of hours. However, many who go this way soon find themselves in a situation they never bargained for.

The truth told is that starting and running an internet based business requires you putting few things in the right perspective. And the earlier you do this the better. In this post I want to draw your attention to some questions that will help you get your perspective right from the beginning. If you’re to win in this game then answering these questions ahead of time will greatly enhance your winning edge. Not to worry, the answers to these questions are right inside of you. What you need is sincere and honest answers to them.

Starting your own flourishing business

Question 1 – Are You truly Ready?

It’s not just enough to have the desire to start your own online business. There are a few preparation you need. You need to mentally prepare yourself. Running an online business is not in many cases different from running a brick and mortar business. Stepping out on your own as an entrepreneur is a great risk. Whatever your current status (an employee, student or whatever) you will need to prepare yourself for the switch over to being a boss. It's important to note that you’re now going to be in control. You’ll be the one making decisions from now. Of course, it is this total control that actually drive many who take the plunge into starting their own business but it is also one of the elements that can drive new entrepreneurs crazy. So prepare yourself for there is a long list of decisions that need to be made.

Besides, you need to also prepared your family and friends for this switch in attitude. Surely your life is going to change drastically and that change can have a positive or negative impact on your family life and social interactions. As much as possible you need to get your family and friends in the right frame of mine as this will make things much easier if they are supportive of your efforts.

Question 2 – Where Is Your Niche?

Another question you’ll need to answer is whether you have identified your niche. It's a confirmed fact that one of the reasons many online businesses fail is that they fail to focus on a target audience. You must understand that with the ease of starting a web based business has come the multiplicity of businesses all frantically seeking the attention of the cyber citizen. The wise choice for the wise online entrepreneur therefore is to effectively target your market by deciding on your niche right from the start.

Knowing your niche means you are better able to find, target, and maintain your customers as well as provide the best possible goods and services to that customer base. That focus is one of your best chances to not only survive but to thrive in this very competitive marketplace that is online.

Question 3 – What Is Your Plan Of Action?

Another key factor in the survival and ultimate success of your online business is how much planning you do before you open your business electronic doors. You need to decide if your business will be based solely on the internet or include some traditional models. Are you going to work full-time or part-time at your new business? Are you going to hire help or go solo? Have you written (or at least outlined) your business plan? Dreaming, thinking and planning can save you much trouble and waste later when things are hectic and problems strike. Planning can also help keep you focused and to balance your spending and time.

Question 4 – Who Are You Going To Call?

At some point, no matter how experienced a business person you are, you will need help. You will need support, advice, tools, or information — or all of the above. One of the beautiful, and most frightening, aspects of growth is that it can lead you to places you never imagined. No matter how much planning and experience you bring to your new position as CEO the unexpected will arise. How will you cope with this? It is important to recognize that no business is an island. It is not failure to seek help. Failure is when your business shuts down because you didn't get the help you needed.

The best way to get timely help is to work on your support system while you work on building your business. That way you will already have a ready list of resources available that you can quickly tap into when emergencies strike. In today's world there are many marvelous resources available to you no matter what your business model may be. These include:

1. Publications (newsletters, magazines, books)

2. People (professional advisors, mentors, teachers, consultants)

3. Networks (organizations and forums in your niche as well as general business and marketing)

4. Education and training (tutorials, courses, and seminars)

If you'll get these questions out of the way from the beginning, setting up and running your online business could turn out to be really fun and an enjoyable thing.

As much as these questions may seem basic it’s rather unfortunate that many people never care to answer them before plunging into that dream business. And the result? They soon learn that it isn’t just a dream running a business.

So ask yourself right now have you taken care of these questions or are you still plodding on thinking things will just work out? This is business and it must be taken seriously.

As an online entrepreneur let us know if these issues make any meaning to you. Did you take care of these questions before starting out? Let’s hear you in the comments below.

  1. Hey Chadrack,
    I have been in business world offline for years, i guess the basic step starting online or offline business is the same, it is finding your goal, and work hard to achieve it.
    I hope this valuable post will help those who wants to start online business.

    • Hi Sofia, thanks for stopping by. It’s a real pleasure to have someone like with the personal experience to put in a word for this. You simply got it right. Whether offline or online, the principles and steps of starting a business are just the same. You only need to put in a little twist to suit your aim!

  2. Hi
    Chadrack You have suggested very good experience to Sofia. I appreciate your experience.

  3. Reply
    seattle seo &web design October 19, 2010 at 8:15 pm

    Great article and helpful tips. It’s nice to see that people still take the time to teach others by offering free advice and information. That’s what keeps ’em coming back! 🙂

  4. This is an article I wish I had read before I began my online activities but there is a point I would like to add.
    It is vital before starting any business, to be sure that there is a market for whatever you wish to sell. Most people start with a ‘brilliant idea’ and follow that by going ahead with the startup and then begin to try and convince their prospects that they too want this brilliant idea, product or service.
    This is totally the wrong way round and is an easy trap to fall into, especially since we entrepreneurs are always having brilliant ideas. The correct way round is to find your market first, find out what they want and give it to them. A hungry market is the goal, hungry for what you will offer them.
    How to find out? Research and more research both on and offline. Go to Google and type in How can I…  Does anyone know… I have a problem with…  all these type queries will give you ideas of what people want.
    Check out Yahoo Answers for problems that keep coming up.
    Amazon top selling products too, hot topics on blogs like this one, EBay best sellers, all will give you a clue as to what this hungry market wants, the problems they have and things they are desperate for. Then give it to them.

    • Thanks Celie for this detail comment. As you noted this post is for those who are just starting out. And comment has really stretched it out for more understanding. Hoping to see more around.

  5. Frankly I don’t worry about it. If when the review was written it’s how you felt, then you were being honest and that’s that.

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