Steps to take before Kick Starting an Online Business

byTemilol

78 followers

5 years ago

Glad we meet again WA family!
Welcome to the Sub Session of Making it Happen “Start an Online Business" Title:Steps to take before kick starting an online business

Less we forget @ If I May Ask;

• Can you please expantiate on each bulleted points aforemention under subheading steps to take before kick starting an online business.

Yes' Research! That is key word that set you on to unlock your ideas. Asolutely, there lots of steps to take but all boils down to get yourself equipped with most important and relevant information you can gathered from research.

This will illuminate your ideas respect to your niche. I mean before you get started kindly first of all get handy strategic information that can make you succeed and also data that can make you fail.

Fail! No/Yes, from experience most online business are prone to fail in the first few years of starting because of one reason or the other. Not to scare you but to empower you with the boyscout motto "Be prepared" you know what that means....

Thus, information like data you gathered from research, becomes a strategic tool for business implementation. Its one of the guide or alike compass to successful navigate what you are learning in Wealthy Affiliate.

Get this concept right' I re-emphasis

"Those information that can make you to succeed for the purpose will become your "Success enhancers" tools.

And those that can make you to fail for the purpose will become your "Failure Mitigator" tool.

Steps to take before Kick Starting an Online Busines

While you carrying out your research endeavor to priorities the following:

• Check that your ideas is right

Having a great idea? Good and if no competitor in sight “hardly there will be non” I am sure you are not coming to invent a new wheel. However, kindly ascertain that the products or services is value added to potential customers at worth(price) you can afford to sell it.

Despite there may be no competitor for good reason but in case your objective is to go into a …. With establish competitor which I know it inevitable, it is advisable you measure and know your strength and weakness.

As well as you measure your competitors stands too. Be sure you can provide a better product or service at competitive price, In simple note I am emphasizing strategic “Market research”. Finding out detailed all the means you have to do be rigorous job to succeed.

• Learn the intricasies of choice business models and understand your niche
  

Self education means a lot in the journey of an entrepreneur. I wiill dig deep into same in my next post. This form a full blown topic;kindly watch out for same in my next coming post.

• Come up with a detailed professional business plan

The very basic key to a successful and success filled business is having handy a strategic plan, And well considered systematic taughtfulness will make you foresee or recognize challenges (problem) just in time it arise or on or before it crept up and to be able to mitigate it by taking corrective action.

Sigh relief you can avoid challenges i,f you see it coming but solving it is a criteria for lasting solution. Avoiding it will be what goes around….. Please wake up from slumber before it comes around.

The plan I made mention of must be a living document. It has to be flexible and can adapt with time for change is inevitable. Even in the market place and your niche (industry).

The plan inclusive must be detailed to every facet of your business meaning weather you are a sole proprietor or executive director of a new online manufacturing venture, A flexible plan mean can be subject to upgrade, update etc.

• Ideas Financing

Financing your ideas begin with getting feedback about what you conceive as an idea from variety of people beginning with friends, supporters, even you enemy if you’ve got one.

Be ready to embrace criticism, be flexible enough to accept the pros and cons of reproach, hug the inevitable comments of it can’t work and 100 of no thanks with positive edge and mindset of how it going to work.

Their lies opportunity to fine-tune your next presentation. Point to a man who ever succeed in life without embracing failure as success compass to who is determine to make it great in live.

Entrepreneur are endowed with hallmark of the ability to regroup, rethink, and reach a goal in other way possible even if its only way. Meaning better gather the reason why it can’t work and solve it early enough no one celebrate failure more than a successful entrepreneur.

Think seeking publicity for your business is a stategic way but not only to get your potential audience notify but also to gain the attention of possible investors. As many that know of your idea some what are opening room to magnetize the right investor’s.

Be willing to share portion of the company with right partner more like Kyle and Carson sure as mentioned they are co founder but its clear they partner to build this great ship called Wealth Affiliate.

Though as much as you have to be wary of finance companies and investors who want full control or lion share of the proceeds. How about entering into a joint venture with another company or position your company to attract start up funds from government well you got to think it right before you implement

• Networking practices

Entrepreneur is not about being loan ranger, To be successful, networking is inevitable, Meaning to be successful often depends on your ability to network with potential audience which include customers, suppliers, new investors even government who has principal control over certain area of business environ

• Marketing and PR planing

Every business must have integral part of business plan which involves marketing. Plan marketing and public relation is about ways you are going to create the demand for your product or services.

Market research in the order hand unveils the “what and where” of opportunity but marketing plan is set-to outlines the strategic steps by which you will get potential customer and convince them to buy from you. Networking, advertising and PR are all forms of marketing and promotion Think value added product or |Service before you lunch out.

• Make sure you have the right financial and management support

Majority of entrepreneur are better at ideas than managing budgets, business operations and employees. Fact is you need to anticipate that you’ll need more than enough capital than you already budgeted or figured at the start. However do not be lavish with spending beyond your means(company).

Having a network of trusted and experience advisor to help handy' incase, you find yourself in a questionable position as they are the key to unlock the proper perspective and eyes to see the things you are not naturally good at. The good network you build herein Wealthy Affiliate are good to go with when and where necessary' Sure the best have ever see.

With this few point you can start fine tunning your way forward.

• How about kearning the intricasies of choice business model?

Astonishing, self education is very important to excel in online entrepreneurship journey. More so every business has rudiment so this I am going to unveil as I earlier mentioned it is going to be full blown topic for my next blog post.

Title: Online Business Models and Its Intricasies for Startup, Aspiring and Online Entrepreneurs.

Sure, there lots of them. For example Affiliate marketing, Website flipping, Digital marketing etc are typical example of online business models.

Knowing and understanding your business model has many benefits. One is you take full control and give it the best you can to drive optimal productivity. Two is maximizing ....

Let hook up together in my next post to know more about online business model. This another piece that will gear you toward success you wish for herein wealthy affiliate. Mind to stay connected


Ruminate: Entrepreneur are simply those who understand that there is little difference between obstacle and opportunity and are able to turn both to their advantage


Feel free to ask any of your mind bugging question here and I also welcome your comments; use the comment box below. I assure you of my timely response' I'm passionate about engineering people happiness.

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