Unexpected Advice For Online Businesses


Starting-An-Online-Business-1

It’s never been simpler to start a web business. The endless possibilities of the internet have inspired people to start their own online companies.

But, whether you’re an established corporate leader or just starting to make yourself known on the internet, there are some unique strategies that can help your business flourish.

GO FOR LAUNCH

Getting started is the hardest part of internet business, but keep these unusual guidelines in mind.

Money Blossom

Getting cash to get an online business launched is a given, but where you get it from isn’t. Before seeking out business loans or investors, consider what many entrepreneurs call the ‘3F’ source: Family, Friends and Fools. Getting seed money from your inner circle is much safer than anywhere else since you’ll work just as hard to repay them as you would a loan, and you’re much less likely to damage your credit rating if you aren’t able to. Attracting outside investors is difficult enough while you’re company is still in its infancy, and the ones you do attract will expect a great deal of control over its growth.

Serious Form of Flattery

Though it may seem difficult to accept, having your business idea and website duplicated is a great sign that your company is finding success. To have others try so hard to imitate your work means that you’ve definitely found a formula, design or product that your competition finds intimidating. Of course, that doesn’t mean you shouldn’t fiercely protect your copyrights or content (quite the opposite). But, seeing clones of your work is, bizarrely, one of the most definite signs that your concept is a good one.

Failure Is an Option

Like a sort of natural selection for business models, repeated disappointments will help you narrow down your wide range of concepts into the one or two that have what it takes to thrive. However, always remember to learn what you can from your missteps, and know that failures are almost always inescapable and shouldn’t keep you from persisting.

MIDLIFE CRISIS

Celebrating your victories is important, but not for too long.

Breaking Point

Seeing your company reach the point where you can repay your investors and climb out of your startup debt is cause for celebration, but only a short one. A lot of online businesses make the mistake of resting on their laurels after breaking even, thinking that just being in the black is the only point they need to reach to be officially prosperous. But, the opposite is actually true. Now is the time to seriously consider your company’s profit potential and start making whatever preparations are needed to reach it.

YOUR PEOPLE

Hiring the right people can make or break your company’s success.

Mirror, Mirror

You obviously want to hire employees with certain skill sets, but even more important is hiring them for their personalities. It’s essential that everyone working for you shares your optimism, enthusiasm and drive. Otherwise, you’ll start to feel your own sense of morale dropping quickly. Abilities can be taught and learned later on, but hiring the right sort of temperament will pay off immediately as well as over time.

Anything You Can Do

Take advantage of all the technology you can though as has made it easier to handle some duties without the need to hire.  For example you can make a website pretty easily without having to be tech savvy. Accounting software is also an easy way to cut cost and do it on your own.

When you do have to hire take an honesty inventory of your personal skill set and use that to help guide your hiring choices. It may be your business, but that doesn’t mean you know how to do everything and do it well.There must be a balance in the business so take on people who clearly are skilled in areas that you are lacking.  Also be willing to learn from them and always be open to their ideas and suggestions.

BUILDING FENCES

Me Time

You may feel the need to throw every waking moment into making your web business prosper, but this is not a good idea. No matter how much you love your project, toiling away nonstop will burn you out and make you wish you never started in the first place. Always make time for yourself away from building the company. There’s more to life than your business, and it’s vital to never forget that.

Jared Jaureguy is an independent technology consultant. He writes for many of the top tech blogs, follow him on twitter @jaredjaureguy

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