Making money online with your own small business is the subject of this article. My last two articles described how you can make an extra income stream, or indeed start a small business working from home by becoming an affiliate marketer or a drop shipper.
Starting your own online business means taking a step past Affiliate Marketing and Drop Shipping. It means you take responsibility for the whole thing. You find or create the product, sort out suppliers, bring it to the market, undertaken deliveries, organise finance etc etc.
That is you have to:
Create the concept.
Check whether there is a market for it.
Organise Products / Services.
Design the entire process.
Set up the ecommerce website, blog or other form of online selling.
Market the website and the goods or services.
And go, go, go.
What are The Advantages and Disadvantages to Starting Your Online Business?
What are the advantages of starting an online business rather than an Affiliate business or a Drop ship business?
You control everything to do with your internet business.
You keep all the profit.
You make all the decisions.
You are in control of quality, service and customer care.
You can join an affiliate agency and sell your goods/or services that way.
You can add a range of Drop Shipping goods and Affiliate items if you want to.
Disadvantages include the fact that you:
Must take care of staff, stock, cash, Shipping, premises and returns.
Work alone.
Have to buy goods before you can sell them.
Have to manage cash flow.
Who Might Want to Build Their Own Online Business?
Anyone who wants to own their own business but has little capital.
People who know something about business (on or offline) and want to start their own e commerce site.
People who know they like to control all aspects of their business.
People who don't yet know much about running an internet business, but are totally excited at the thought of finding out.
What Should You Focus On Most?
Product: find a service or product, define the market size and decide the quality levels.
Price: Decide on a price level to match quality. Don't compete on price alone.
Place: Will you sell from a website, blog, MySpace etc? Will you have a terrestrial outlet and marketing approach?
Place continued: What delivery system will you use? How will you check your potential supplies out?
Promotion: How will you market your products and website?
Some of the things you might have to manage to make sure your online business is successful are:
Search Engine Optimisation (SEO). This is a vital part of Marketing if you are not to spend a fortune on advertising.
E-mail Marketing.
Audio / video Seminars.
Sales (squeeze) pages.
Using Social Media including blogs.
Building links.
These are just a few of the areas you will have to work on when building your online business. Even if you can afford to outsource from the beginning, it is vital you have helped to design the Marketing plan and are able to detail it to others who may be working with you.
Plan Act Review.
Even this short article has enough in it to terrify all but the most determined. But DON'T PANIC!! Like everything else in life, if you plan well (and split what you have to do into small chunks), act when you need to and review what you have done so that you can change it if it is not successful, you will be OK.
Good luck with starting your online business
Onwards and upwards.
Dee MacDonald at [my-businesscoach-online.com] is a Business Adviser, Consultant and Learning and Development Specialist who has worked with over 400 small and medium businesses to help them make their business much more fun and far more profitable. She has also worked with large business and governmental departments, but prefers the edge of working in smaller organisations where she can see the whole picture and help owners and managers improve the business in every way, especially the returns it gives.
Dee has recently started her second online business, and runs a blog at my-businesscoach-online.blogspot.com my-businesscoach-online.blogspot.com. She took all the learning from that experience and has put together a course that shows anyone, no matter how inexperienced they are online, how to set up a variety of different types of on-line businesses by following her simple step-by-step instructions. Dee works with expert associates to present live, interactive, fun, hard but extremely practical seminars alongside the online coaching and development courses offered on her website. She comes from the Isle of Skye, Scotland. She has lived and worked in Africa, Europe, the Middle East and the Far East and is currently based in Hampshire, UK.
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