I have been managing my online activities for a long time and while the online landscape is completely different from when I started in 2009, there is one thing that remains the same:
There is no one right direction to build an online business.
Every single is different. Even companies in the same sector, which offer the same services, will have characteristics that differentiate them from any other business.
There are certainly best practices, strategies and tactics you can take to help you reach your path.
However, in the end, the thing that will make your online business successful will be how you combine all these elements, in addition to your personal experience, to create something unique.
In this post I will examine everything you need to know to start thinking about starting an online business. Understanding the basics is very important to make sure you get started right business, or in many cases, helping you to understand if an online business is also the right path for you.
If you are looking for an "all-inclusive" training course, I suggest you take a look at our "The Complete Beginner's Guide to Starting an Online Activity" course. Right now it's only ten dollars, and it's the most thorough course I know that covers all the things you need to know, but I did not know to ask.
How to start an online business: the benefits
Having done this for the better part of a decade, I am deeply aware of all the benefits of owning an online business. There are many (and certainly some drawbacks, as you will see).
Here are the best advantages of an online business for what I found in my experience:
- You can set your hours. Hate, morning? Do you always hit an afternoon collapse? Build your work schedule when six the most productive Here are some alternatives that show you what is possible.
- You can travel whenever and wherever you want. Invitations to a last minute trip to play epic golf in the Canadian Rockies? Sweet! You can go.
- You have the possibility to work from anywhere with an internet connection. Do you still have work to do in an epic adventure above? With an online business, you can do it from anywhere.
- If you build it as such, you can generate "passive income". Not all online activities provide elusive "passive income", but if you like the idea of making money while you sleep. The right business model can provide this.
- You are able to have a direct and immediate impact on people's lives. I have helped thousands of people through Location Rebel. And being able to do it, while living a lifestyle that I like, could be the best benefit of all.
- It can improve your enjoyment of a hobby or passion. Some online companies offer benefits that you would never have obtained if it were not for your business. These can often be even better than the business itself.
- The earning potential can be higher than a traditional job. Do you have to fight with your fingernails and teeth to get a 3% increase every year? With an online business, your earning potential is unlimited if you take the time to educate yourself and grow your skillset.
- Go out, what are you putting into it? I have always hated the fact that no matter how hard I worked, in my daily work, my position and income have never changed. With my business, if I want to do an extra 20 hours a week, I directly benefit from my work and my efforts.
These are just some of the benefits of having an online business that I have personally experienced. Others may have things that are personal to them that I have not listed here.
I wrote a post a bit back that I seemed to delineate the benefits of this lifestyle quite well:
Check-out: The rebels of 14 things can do that employees can not
The disadvantages of an online business
At least once a month I think of myself:
"Self, maybe you should go for a day's work."
Really, I know. No matter how big my life is, and as much as I love my business, there are times when I think it could be easier if I did not have to so much responsibility
After all, one of the best parts of building this type of business is the capacity you are able to acquire. Skills that could prove to be very profitable for the right company.
But at the end of the day for myself the compromises have always been worth it.
While you're reading these, think about your personality and if you really think about working for yourself it's a good measure for where you are and for your goals.
- Lack of community and socialization. There is no water chiller. You do not see your colleagues every day chatting and gossiping. The lack of a social element in your work can take its toll after a while.
- You are responsible for all "real" things like taxes. Even if you hire an accountant, you're still responsible for making sure everything is in order. This can be particularly painful if you live in a place that is not friendly towards small businesses.
- The stress. Oh, stress. An online business is not always stressful, but when it is, it can be really stressful.
- Burnt. When you're starting, make sure you're excited about it gender of business that starts. You can be burned along the line, even around an activity that gets fed to you.
- The emotional roller coaster. No matter what the business is, no matter how successful you are, there will be highs and lows. If you can not manage it, an online business may not be right for you.
- Not being able to "turn it off". Not lying, sometimes I find myself really wanting not to think about work. It's not a day's work, you can not arrive at 17:00. There's always something you could, o they should doing it.
Check-out: 10 things that totally do not know they are a solopreneur
Types of online activities
There are all kinds of online activities out there. But in the end, most of them are variations of a handful of different types of businesses.
Each of these is suitable for a different type of person, with different objectives. Our beginner's guide helps you understand Exactly which is right for you, but this overview should give you an idea of what your options are.
- Affiliate Marketer. You have a website with special links. If someone clicks on the link and buys a product? Come get paid Take a look at our epic post about how to start affiliate marketing.
- E-commerce shop. Sell physical products online. They could be the ones you produce, beheaded objects or objects for which you are simply affiliated.
- Membership site. You have protected content that only your members can see. This could be a course, a forum or something else. Usually there is a recurring fee. Discover: how to build a membership site in 48 hours,
- Information product. Create a course or book teaching people how to do something and charging them. Location Rebel Academy is a hybrid of an information product and a membership site.
- Freelance "There are dozens of industries in which you can do it, and I firmly believe that freelance writing is the simplest online business you can start. Learn more about writing B2B freelancers here.
- Blogger. Are you an expert in a certain niche, or is your life unique and interesting? Full-time blogs or niche sites are still one of the most popular online activities out there. Discover: How to create a niche site.
- Influencers on social media. Ah thanks Instagram and YouTube. The most recent online business is people who create content and become famous with their personal brands. It can be hard to do, but it's a great job if you can get it! Check: 31 YouTube video ideas
- Coach / consultant. In addition to blogging or freelancing, this is one of the easiest activities to start. There are people who want to learn from you and your experience. Starting a consultancy or coaching activity in an industry you know a lot can be a big foray into the online business world.
Ideas for an online business
Finding ideas for an online business can seem really daunting, but it's not as difficult as you think. Here's what you should do:
Step 1: Decide what kind of activity you want it to be. Look at the list above and choose the one that best fits your personality. For example, do you want to work with people? Or sit behind a computer? Do you want to sell products? Or being a writer?
Step 2: Make a list of all your hobbies, passions and things that you like to do.
Step 3: Brainstorm. Knowing in general the type of activity you want, and now some areas that interest you, spend 30 minutes dedicated and brainstorm different ideas.
Step 4: Validation. This post will provide more details both in the search for your idea and in its validation.
Questions to ask before starting an online business
There are some questions that everyone should ask themselves before starting. While these days the technical aspect of starting a business or website is extremely simple, being consistent with it and growing a company for months and years is more difficult.
The following questions help to ensure that you are doing it for the right reasons and are in a good mental place to start pursuing it:
- Can I put at least 10 hours a week in this new activity? I found 10 hours to be the minimum amount of time I needed to start a new business every week. Any less and you will have difficulty getting the momentum needed to succeed.
- Because I want to pursue this? Is there a better way to reach my goals? Are you doing this out of desperation or necessity? Do not you like your job? Would a different career path be more appropriate?
- Am I ready for the mental ups and downs that come with this? The steps to start a business are easy, I'll teach you those. The process to build a business over a long period of time, however, will send you to the top, and then down. Are you ready for this?
- Do I have a person or a small community to help me support it? There is nothing "solo" in being a solopreneur. Finding a person or a community that knows what you're going through, and ideally going through the same thing on their journey, is often the maker of the difference between success and failure.
- What is the point of success? Finally, how does the success seem to you? What are you working on? What do you do you want in life? If you do not have an adequate answer to this, then you will have difficulty in having the motivation to keep pushing.
- Are you willing to invest in yourself to make it happen? Starting an online business does not have to be expensive and in many cases no. But if you're not willing to invest to say $ 1,000 all-in on your new project, then you may want to consider how much you're really dedicated and if it's the right choice for you.
If you have positive answers to all these questions, you'll probably find yourself in a great position to get started.
The complete beginner's guide to the start-up of an online lifestyle business
I remember when I lived in Thailand, I was cheap.
Ok, let's face it, I'm still a bit cheap, but I still vividly remember to write a post on my coworking post, called you would prefer a beer or a business.
And in it, I realized that every night I could go out and spend $ 20 or 30 in beers without thinking for a second.
However, when it came to investing in my business, I would do it agonize in addition to the purchase of a $ 10 domain name.
It's a strange mental game that I still do not completely understand.
But what me do understand how difficult it can be to start investing in oneself, in a company and overcoming all the uncertainties that can arise from entrepreneurship.
So, to help you fight it and give you real, next steps, I'll make this easy for you.
I created what I believe to be the best introduction to starting an online lifestyle business on the Internet.
It guides you through everything. It shows you in detail what the different types of online business are, helping you to understand which one is best for you, teaches you the most common online marketing tactics and provides you with a roadmap to get started.
I charge $ 47 for this, and I think it's worth every penny and even more.
But because I know it can be difficult to invest in yourself in the early days, I'm offering it for only $ 10 until the end of the month.
With only a $ 10 investment, you'll know exactly what to do next and be able to get off and run with your next business.
The only remaining question to ask is:
wanted you do you prefer a beer or an activity?
If the answer is the second one, check the course and let's get to work.