Sunday, March 23, 2008
Getting Your Online Money Making Business Started
For the absolute novice the foray into creating a money making online business can be quite daunting. Most don't know where to start let alone know what to do or how to do it. The one common theme, no matter what their circumstance, is "I want to make money!"
The key to having an online money making business is a change of mindset from employee to business owner or entrepreneur.
The employee clocks in every day, does the required tasks, clocks out again and spends their pay check; sometimes years in advance if they have accumulated credit debt.
The business owner however takes a wider view. He or she has a business plan, sets goals and initiates strategies to achieve them. The business owner forecasts their income in advance.
One of the first things to do, to avoid information overload, is to sit down with pencil and paper and plan your business.
Begin by defining what sort of business you want:
1. Physical products
This could be based on something as simple as your favourite craft or hobby. My teenage daughter, for example, loves making her own jewellery; so much so that our home is literally littered with her "creations". Therefore I built a website for her to sell it.
2. Electronic Products
If "making" a physical product to sell seems like too much work, how about creating a "How To" ebook about all you know on your favourite hobby, craft or area of expertise. Electronic products are very popular with those who want information but don't have the time to do all the research. Gather all your knowledge up in one package and sell your efforts again and again and again.
3. Affiliate Program Products
If you are really stuck for an idea of a product to sell, affiliate marketing is a good place to start. Affiliate marketing is selling someone else's product for a percentage of the sale. The secret to this kind of business is find products that you really love; it will be easier to succeed if your heart and soul is in your business.
There's no reason why you can't do all three - eventually - but for a start choose just one. Once you have decided, plan out ways to implement this new business. Break the plan into smaller, easy to achieve tasks. For each stage of implementing your money making business work on bite size pieces.
For example: "I need a website" can be refined into:
- Registering a Domain Name
- Find a web host
- Find an Auto-responder service
- Find a web designer or for the do-it-your-selfer, lessons on website building
- Find a payment processor
A certain amount of single-mindedness is required as it is easy to become distracted. You might find ideas popping into your head as you are working away. Great! Write them down in your ideas vault and get back to business. They can always be developed later when you have finished the task at hand
All good business owners work within time-frames. Use this to measure your effectiveness and productivity. Schedule time for your tasks, set a completion date, review your progress, and then adapt to make improvements.
While overseeing your business as a whole and focusing on the tasks required, your online money making business will take form and you'll find you will make money.
Dee-Dee MacLeod-Wilson (http://www.wanttoworkfromhome4life.com) is a Kiwi work from home mom with a holistic approach to helping like minded parents become successful work from home families.
¶ 5:43 AM
The key to having an online money making business is a change of mindset from employee to business owner or entrepreneur.
The employee clocks in every day, does the required tasks, clocks out again and spends their pay check; sometimes years in advance if they have accumulated credit debt.
The business owner however takes a wider view. He or she has a business plan, sets goals and initiates strategies to achieve them. The business owner forecasts their income in advance.
One of the first things to do, to avoid information overload, is to sit down with pencil and paper and plan your business.
Begin by defining what sort of business you want:
1. Physical products
This could be based on something as simple as your favourite craft or hobby. My teenage daughter, for example, loves making her own jewellery; so much so that our home is literally littered with her "creations". Therefore I built a website for her to sell it.
2. Electronic Products
If "making" a physical product to sell seems like too much work, how about creating a "How To" ebook about all you know on your favourite hobby, craft or area of expertise. Electronic products are very popular with those who want information but don't have the time to do all the research. Gather all your knowledge up in one package and sell your efforts again and again and again.
3. Affiliate Program Products
If you are really stuck for an idea of a product to sell, affiliate marketing is a good place to start. Affiliate marketing is selling someone else's product for a percentage of the sale. The secret to this kind of business is find products that you really love; it will be easier to succeed if your heart and soul is in your business.
There's no reason why you can't do all three - eventually - but for a start choose just one. Once you have decided, plan out ways to implement this new business. Break the plan into smaller, easy to achieve tasks. For each stage of implementing your money making business work on bite size pieces.
For example: "I need a website" can be refined into:
- Registering a Domain Name
- Find a web host
- Find an Auto-responder service
- Find a web designer or for the do-it-your-selfer, lessons on website building
- Find a payment processor
A certain amount of single-mindedness is required as it is easy to become distracted. You might find ideas popping into your head as you are working away. Great! Write them down in your ideas vault and get back to business. They can always be developed later when you have finished the task at hand
All good business owners work within time-frames. Use this to measure your effectiveness and productivity. Schedule time for your tasks, set a completion date, review your progress, and then adapt to make improvements.
While overseeing your business as a whole and focusing on the tasks required, your online money making business will take form and you'll find you will make money.
Dee-Dee MacLeod-Wilson (http://www.wanttoworkfromhome4life.com) is a Kiwi work from home mom with a holistic approach to helping like minded parents become successful work from home families.
¶ 5:43 AM
