How To Start An Internet Business And Earn An Income
What a week it’s been. The days just seem to be flying by. I have just finished helping one of my daughters apply to appear on a T.V show to become a budding entrepreneur. Good on her ! I’m more nervous about her getting through than she is !
The Internet has become huge whereby consumers are now spending over £40 billion a year purchasing online products and services, according to IMRG, the industry body for global e-retailing. Over the past 10 years, the growth of the Internet has resulted in many ordinary people creating online Internet success by starting an Internet business.
The Internet has changed the way we live our lives enabling individuals to start an Internet based business and compete with organizations from all over the world. So what puts people off starting an Internet business? Is it because it’s too easy or to hard to start up? Well, let’s see if I can help answer some of the most common things that spring to mind.
Putting an Internet Business Idea into Action
The starting point for any new venture is to create a business plan. You need to know who your target audience and market is, your competition, how to get funding, build consumer loyalty and make your presence known on the Internet. But many people just don’t know how to get started which is why finding a mentor to help you is so important and hence why I do just that. Another big issue for people is that they are aware others are earning a nice living by starting an Internet business and would like a piece of the action but don’t know what online Internet business to start or what products to even sell. Again, this is where my experience and Internet businesses help those types of individuals.
Putting together a business plan is the key. Now don’t let that phrase frighten you. All it means is putting down on paper a plan on how to start your Internet business, in other words how much money is needed, the time and effort and any tools, equipment and operating facilities that are required. My guess is that 90% of this information is already in your head. So don’t panic. It’s not that difficult.
Finding a market to sell your products too
One of the most important elements of setting up an online business is finding out if there is a market for your idea. It’s all about finding a nice little niche. Most self made millionaires for example copy what other people are doing but they take the idea to another level. For example… if you loved pets and had an idea to help people train them at home rather than attend classes then that might appeal to a niche market and put your business on the map ! So you see, it’s all about targeting a particular audience.
There are lots of financing options available to aspiring entrepreneurs. As we know the current economic climate has made the process a little more difficult but if your idea and business plan is good then obtaining funding should not be a major issue. Banks, overdrafts and loans are still the main source of obtaining funding.
There is also something known as “business angels” who are wealthy individuals that invest in growing companies wanting to raise between £10,000 and £250,00. The Small Firms Loan Guarantee is another option still available to people starting an internet business. In all cases having a well prepared cash-flow plan is vital.
A big mistake many people make is asking for too little financial support in the hope of getting some funding that very often leaves their business financially short of cash very quickly and can result in disaster.
Creating a Great website
A website is in effect your shop window. They cost various amounts to create from a few hundred pounds / dollars up to thousands or you could try building one yourself using a word press theme.
Keep your website site clean and simple because people will buy from a site they can use and trust. Update your website with new content as much as possible as innovation, imagination and special offers are always appealing to customers and will keep them coming back to you in the same way you shop online with various sites. This is something I can help most people with if need be.
One reason why internet businesses often fail is because of their lack of marketing experience.
Too many people fall into the trap of developing their product or service and then expecting orders to come racing in. But like I said earlier it is important to ensure that your website is your perfect ‘shop window’ to promote yourself and enable people to find you on the web.
There are lots of sites such as Google AdWords, Bing, Yahoo that offer cost-effective way of advertising your internet business or even better there are free ways to do so using social media websites. Another great way is to Network with other people who will be only to glad to help promote your business once you get to know them better.
One of my ‘pet hates’ is the amount of time and ‘long winded’ process buying online on some web sites can take. This puts me, as a customer right off the site straight away, so make sure that your internet website it fast and easy for customers to use and order from, as a site with a difficult sales process is likely to deter customers.
Customers love to be treated as individuals rather than a number. So calling them to make sure they are happy with the service you offer can go a long way towards promoting your internet business.
Start a small internet business and be patient.
As much as you may feel like, don’t give up your day job until such time that your new internet business is able to afford to replace your salary and living costs.
It does take time for any internet business venture to grow and until it does the income and sales may be slow. As a budding online internet entrepreneur, you’ll need lots of energy, enthusiasm, determination and passion to succeed which is another reason why having a mentor can help you achieve success far quicker.
Many people launch a business, without adequate thought and pre-planning. Starting up an internet business can be hard if you don’t know what you’re doing but at the same time it can also be extremely rewarding. Developing a successful online small business definitely takes time. Finding a reputable Home business opportunity is a great way to start an internet based business far quicker because thses opportunities very often have most things already set up for people to get started and earn money.
Most people expect they business to make a lot of money within a few weeks, but in reality, it can take months. This is the one major reason why people give up. People are very naive about their business and how they should market and promote it.
If you want to set up an internet business, you have to put in your own time and effort rather than rely and expect others to do so for you. What I find from people who ask if they can join my online business is that the one’s who succeed are those who put in the time and effort to listen, learn and implement what we share with them. Those who want everything done for them are the ones who always give up and blame others for their failure.
There is no secret on how to create success other than to listen to as much advice as possible and treat your new business like a business rather than like a hobby. If you know of people who are successful in business ask them for advice, find a mentor and copy what they do. Remember that old saying… ‘Rome wasn’t built in a day’ !
If you would like to start your very own internet business then go for it… otherwise one day you may well regret not trying.
Feel free to contact me if you would like to learn more.