It truly is a great time to be an entrepreneur.
Technology has leveled the playing field and there are online business opportunities for all budgets and knowledge levels. There are so many online business opportunities offering to help the budding entrepreneur make money online that it can be a bit over whelming and this is one of the first hurdles that the new entrepreneur has to overcome.
The online business entrepreneur now has more information on hand than ever before in history. You can Google search just about any topic and come up with more information than you can deal with in a day.
Making money online may not be as easy as just searching on a search engine but there are numerous opportunities out there for the entrepreneur that has a discerning eye.
The speed of the internet development and the speed of online business development means that the online business entrepreneur is better placed to identify and take advantage of online business opportunities than large corporations, that have multiple layers of policy and procedure. There are some things to consider as you develop your entrepreneurial online business though.
1. When should you become fully dependent on your online business for income?
I have heard of some people that had one good month from their online business and then quit their job only to find that within another month they are out beating the pavement for a new job because they didn’t make enough money to keep the momentum of their business going. This is another example of people failing to plan and so planning to fail.
You need to have a business plan that gives you clear indication as to when you are safe to leave your current job. This may mean long hours for the first few months and may not be as fast an exit from your old life as you would want but it is better than having to go ten steps back and then probably loose momentum and leave your online business venture for good believing that it didn’t work for you.
2. Decide on what you want to sell before you get online.
You need to know what areas interest you and what product lines you will be following before you even get online. This will help you maintain your focus because as soon as you get online you are going to be swamped with online business opportunities that could suck all the money from your wallet before you even get your first product on the shelf.
Know what you want to sell and then go and search it out. This is called ‘finding your niche’ in some circles and it is an important part of the online business development.
When thinking about your niche you may want to examine the competition on the internet in your chosen areas. It is very difficult for the small guy to come in and corner a niche that is already over full with experienced and often wealthy entrepreneurs.
Look for a niche that is not covered by the big guys, something that is selling at a reasonable pace but doesn’t have too many affiliates.
3. Make sure that you spend time developing your online personality.
Your online personality is your presence.
It maybe you have some accounts on Facebook, Twitter, YouTube and other social networking sites. It is imperative that you nurture your contacts on these sites in a way that you generate respect in your chosen area of online business growth and development.
Even before you start to promote your chosen products you can be involved with groups and be adding valuable information to forums and blogging sites.
Get yourself known as someone that people can turn to for support and help. Write articles, create blogs and squidoo lenses. Promote yourself and your presence at every opportunity.
4. Finally the last thing that you should do or not do is give up. One of the analogies that I like is the one degree it takes to get hot water boiling.
At 100 degree Celsius water boils but at 99 degree it is just hot. Many online marketers give up just at the time that the water is going from hot to boiling.
They put in so much energy and then they drop out before the surge takes place. You will get frustrated and you will feel that you are wasting your time but you should never give up on trying to make your online business venture successful.
There is nothing wrong with failure; we just don’t want to repeat the same mistakes twice. There is nothing wrong with falling flat on our face; so long as we get up and move forward.