If you were setting up a business in the local shopping area, you would do certain things. It’s the same in an online business. So let’s see how they compare.
1. Sign a lease for space (called hosting)
2. Put up a sign with the name of your business (website)
3. Hire help – after all, you can’t be at the store all of the hours that it is open. You have errands to run, meals to eat, and a couple of breaks to take. So you need help. (It’s called outsourcing in the online world – or hiring a webmaster or virtual assistant.)
4. Get your product or service ready. Those are really the only two things you can sell – a product or a service. (In the online world, it’s the same. You can sell a product. Or you can sell a service. But you have to sell SOMEthing – or you can’t make any money.)
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5. Advertise. After all, until you advertise the only people who know you are IN business are the ones who “happen” to pass by your store – and then only if they notice it. (In the online world the chances of someone “happening” to find your website are 1 in several million. So advertising is crucial. Yet so many people are looking for the “free” solution – to build a business that pays real money.)
6. Keep the business operating at a profit. Once you’re set up and open for business, you can’t just sit there hoping “they will come.” You need to take action. You’ll be
- networking at local events (social media)
- visiting related businesses to set up cross-promotional efforts (aka affiliates and joint ventures)
- attending classes to improve your skills (taking online courses)
- bidding on big contracts to expand your business
- hiring expert coaches
- speaking at local events (webinars and teleseminars)
- writing press releases
and so much more just to advertise the business!
And that doesn’t even count the time you spend on “operations” – bookkeeping, personnel, taxes, and keeping it all working smoothly.
At this point you may be thinking – whew! I’m so glad I’ve chosen an online business where I don’t have to worry about all of that.
But the truth is, other than the physical location, an online business has exactly the same aspects to it as a “brick and mortar” business. But it has the added challenge of changing technology – and the isolation of working alone.
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