Starting An Online Business – Get It Right By Making These Key Decisions

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Thinking of starting an online business? More and more people today are doing just that… but have you ever wondered why?

Some will probably say it is because of the economic downturn that has resulted in increased unemployment. I believe, however, that the real reason is that priorities today have changed. People no longer want to work longer and harder, but are looking for a better quality of life. They want to spend more time with their family.

Others will say they are sick of the commute or they are seeking financial independence. They see starting a business online as their way out.

I can relate to all of the above as I was in a similar position a few years ago and it’s reasonable to assume that you too:

– can relate to what I have said (if you’ve got this far in my article) and

– are thinking of starting your own online business.

How many times have you heard people say: “If only I had done that” or “Had I known what I know today, I would have…”

So, from someone who has “been there, done that”, can I be so bold as to make a few recommendations. If only I had had someone to show me the way.

So before you start, ask yourself…

What Is Your Motivation?

Deciding to go into business for yourself is a very big decision. Before you do, ask yourself “Why?”

Is it because you hate your job or do you want to spend more time with your children? Be very clear on why you want to do this. Make sure it’s for the right reason.

Full-Time or Part-Time?

Decide on how much time you have to dedicate to your new money making venture. This will influence the type of opportunity you choose.

How Much Money Do You Want To Make?

Do you want to replace your salary or are you a stay-at-home mum who just wants to earn some extra money to pay for your kid’s extra-curricular activities?

Do You Want A Job Or A Business?

There’s a big difference between working from home in a job and starting an online business. If all you want is to earn extra pocket money or you don’t want the stress of running your own enterprise, then there are plenty of companies looking for people to work from home and who are paid by the hour.

What Type Of Business Do You Want?

If you’ve decided that having your own business is the way to go, there are many types of online businesses you can start.

Do your research before you start. I know the business I’m in today is a far cry from the one I started a few years back.

Think about something you’re passionate about, for example, a hobby. You may very well be able to turn your hobby into an income stream.

Do You Have The Right Skills?

It doesn’t matter if you don’t have the skills now to start an online business. There are plenty of opportunities to learn – courses, books, tapes and even online courses! Just make sure you give yourself enough time to gain the knowledge you need.

A word of advice: Once you have decided what you want, gained the skills you need, then it is very important that you stay focused.

In the beginning I kept getting sidetracked… especially by email marketers who promised me I could make thousands of dollars overnight with minimum work. I am much wiser today!

So Do You Have What It Takes?

Working from home is very different to going out to work. No one’s going to tell you to get up for work, no one will care if you’re not at your desk. It’s up to you to do what it takes. If you’re someone that enjoys social interaction and bouncing ideas off other people make sure that you take this into consideration.

I know people who love social interaction and they work very successfully from home. They just make sure that there are ways that they can get their ‘social fix’. One suggestion is to build a network of like-minded people with whom you can interact; either face-to-face or on the phone.

Starting an online business from home can be challenging BUT it can be extremely rewarding both on a personal level and financially. Asking yourself the questions above BEFORE you start will go a long way to ensuring your success.

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