What To Consider When Starting Online
(ONLINE STARTUP ADVICE)
If you’re thinking about starting a business online, or wondering what the most successful online business are because I’m new to online business and I want to know before diving in the deep end… you’ve come to the right place.
In this blog, we’re going to cover what to look for when starting an online business, why it’s a really good idea to model online business that actually work already because it’s going to make learning about online business and getting your feet wet throughout your journey SO much easier!
By the end of you’ll have my 2 biggest pieces of advice for starting an online business so can create your OWN online businesses that work in no time!
What To Consider When Starting Online
Urrgghh it’s so confusing with all the ads out on how to make money online popping up everywhere and you still don’t know where to start?
I feel you! So I thought I’d write this post about what to consider when starting online so you’ll have a good idea on what type of online startup is great to kick off with.
I really wanted to share some advice about getting started with a lifestyle business. A lifestyle business is a business that works for you, working in and around your life. And I’m not really talking about overnight wealth, but earning enough passive income that is designed around you.
I’ve often been asked by friends about making money on the internet and some of their first questions are…
- How do you make money online?
- Where do you get started?
- And how does it work
- Isn’t it risky?
What questions would you ask your friend if they were making money online? Let me know in the comment section below with your biggest questions and hurdles around starting up an online business.
Well, the answer is pretty simple…
There are TONNES of ways to make money online… and WITH the right information, you can get going pretty quick.
It does take a fair bit of faith in yourself and dedication to learning your new skill in whichever route you take to be more than just average, but certainly not impossible.
Let’s get back as to what to consider when starting an online business and I really only want to talk about two key points, the same two key points we implemented for success in the digital economy.
The first point is all about Finding a Simple Business Model, and the second point is A Proven Business Plan.
What To Consider When Starting Online | A Simple Business Model
There really is no need to get complicated. A simple business model is essential for early success. You would’ve heard of the old saying the KISS approach, ‘Keep It Simple Stupid’? Well, that’s what it’s all about.
The lack of a simple business model is often a mistake with new entrepreneurs and frankly a complex business model or worse still NO business model will leave you feeling confused, lost and struggling.
If you were considering starting up a traditional business, you might not be aware of all the startup costs like rent, stock, wages and so on. And if you’re not educated or prepared, this could be contributing factor to your failure down the track and you’re risking big financial commitment.
So one of the keys for starting an online business is that you can monetize pretty much immediately without the high cost or risk that it’s associated with a traditional business.
The business model we decided to start with personally is the business model of affiliate marketing. Affiliate marketing is really very simple. You just promote other people’s products or services that you know like and trust and owners of these products or services will be paying you a commission for any sales introduced by you.
It’s really that simple and a really good model to get started with.
For us it was a great starting point to be able to master just one small aspect (marketing) of business without needing to worry about nailing the other aspects of the business.
One of the great things about affiliate marketing is all the research has been done. You don’t actually have to come up with any ideas or invent anything. You don’t have to hold any stock or own a shop front, meaning your set up and your overheads are very minimal.
Best of all, it can all be done online and almost entirely automated.
Big businesses like Booking.com and Expedia are great examples of affiliates. They get a commission each time. They refer guests to hotels, tours, flights and more.
While you don’t have to be one of the big boys of affiliate marketing, you can easily start out as a side hustle with the right products or services, you know like and trust like my two examples, Booking.com and Expedia as they have options for affiliate partnerships.
You can do all this from your laptop anywhere in the world as long as you have an internet connection, creating that lifestyle business.
Choosing an online business model that doesn’t require a large start-up costs or expensive overheads limits your risk… and creating a business that allows you flexibility, means you can do in your own time or fit in and around your current job… so it can add cashflow or serve as a way of transitioning into semi-retirement with a lifestyle business.
Online Start-up Advice | Perks Of A Laptop Lifestyle Business Like Affiliate Marketing
Oh, and something else to think about. A great perk to Affiliate Marketing, Amazon FBA, Ebay or Shopify is…
- You could be living in a remote community.
- You could be a carer and have no way of getting out to regular work location.
- You could be stay at home parent not wanting to go back to work after maternity leave.
- You can run your business and earn passive income as you’re travelling the world.
- Currently run your own business and build another source of cashflow.
What other perks and you come up with? Leave me a comment below…So moving onto the second point for what to consider when starting online…
What To Consider When Starting Online | Access To A Proven Plan
Accessing a proven plan (especially in the initial stages) with training and support in starting a business is going to dramatically increase your chances for success.
Many businesses take on the DIY approach with the understanding that they’ll figure it all out as it goes…Unfortunately,… it doesn’t always work out for them. Failing to model other successful people and by NOT accessing proven business plans, you’re risking your chances for a successful outcome, and it explains the high failure rates of many businesses.
Choosing a proven business plan with people who walk the walk and talk the talk is so worth your effort and minimizes your risk.
Finding the right mentors and training for an online business is certainly not easy.
The choices out there are huge and confusing and if you want to progress to a regular passive income stream, you’ll need training and support to keep you moving in the right direction with your first online start-up.
Experienced mentors in online business with proven results are certainly worth considering to ensure your success and that’s exactly what we did when we started our first online start-up – we now have ongoing support from trainers and masterminding groups around both Affiliate Marketing and eCommerce / Amazon Drop shipping.
All we had to do was follow the plan and implement the strategies on a consistent basis and it works. We started getting commissions in our first month of marketing.
Online Start-up Advice | Consider The Skills
Like starting any new business (traditional OR online), you’re going to need to learn new skills.
Starting with a simple business model like Affiliate Marketing or Amazon Drop shipping will give you the opportunity to build up new and VALUABLE skills which can then be applied to any future business ventures you may have lingering in the back of your mind.
So even if it isn’t what you want to do as your endgame, it provides excellent experience and confidence in new skills in the online arena getting you one step closer to where you want to be.
What To Consider When Starting Online | Recap
- Find A Simple Business Model (Affiliate Marketing / Amazon, Ebay or Shopify)
- Low Start-up Costs
- Flexibility (A Sustainable and Lifestyle Friendly Business Model)
- A Proven Business Plan
- Support From Mentors.
And that’s about it really…Now you know exactly what to consider when starting online and worked for us.
If you found this information helpful, please let us know with a comment, share with your fellow entrepreneurs.
If you’d like a sneak peek of the same free online and on-demand business workshops that got us started made by our mentors, click here. Helping you create your own dream life!
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