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How To Successfully Start An Online Business

One of the most common questions that I get asked by people is that I want to work from home and make money but I don’t know what to do. This is an excellent and extremely important question to answer before one even invests a dime in internet marketing.

Why? Because if you don’t know what you want to do or how to achieve your goal you will fail like thousands of other aspiring entrepreneurs out there trying to make money online. In some cases, you will be broke before you have even launched your online business.

The first thing to determine before you spend a penny is what am I knowledgeable and passionate about. Is it books, food, sports, computers, animals, traveling etc. This is extremely important since you want to have a business that you love working on. If you love working on it and have the expertise, you will begin to make money over time.

Once you have narrowed down your interests, you want to focus on a niche market. So if you are passionate about food then you can start an online business to do with food. What areas of food interests you: diet and nutrition, recipes, organic food, healthy snacks, cooking, etc.

Now that you get the picture, the next step is how do you go about launching this business and what are you going to sell: my expertise or other people’s products? You could do one or the other.

If you choose to sell your expertise then you can have an affiliate marketing website promoting anything to do with your niche market by promoting other people’s products and services. You get paid every time someone visits your website and clicks on an ad to buy those products and services or just visits an advertisers site.

Drop shipping is another excellent option, and also a very solid business model once you go with the right drop shipping company. What’s nice about drop shipping is that you will have your own website and company selling other people’s products and they handle all of the shipping for you. There is no overhead or inventory involved. You only need to set up a merchant account to take credit cards and they handle the rest. You only pay for something (wholesale prices) once someone buys from your site, and you pocket the profit.

There are many reputable companies out there that will build you an affiliate niche, turnkey or drop shipping website for a reasonable price. with no hidden costs. You only need to pay for a domain name and monthly hosting fee for your site. If you choose to be a drop shipper you will have a minimum monthly merchant account fee.

How to Organize for Growth and New Business

Organizations that structure themselves around new business development with proposal creation, knowledge management, and communication within one department receive a high rate of return on their investment.

New products, services, programs, and business can be systematically created within one department where the responsibility for knowledge and communication is managed and produced, specifically:

  • current capacity,
  • past experience,
  • future vision, and
  • the benefits people can realize with the organization’s solution.

New business arises from proposals (knowledge products), and those organizations with efficient systems of converting their experience, processes, quality control, and financial systems into articulate documents that address marketplace needs will win new business and provide superior service in comparison to the competition.

The idea is to have the capacity to strategically plan to grow revenue even though growth often means bumping against the organization’s time and capacity.

In complement to the development of proposals, the efficient collection, summarization, and storage of information is required. Organizations require current information to understand and respond to the needs of stakeholders. Data collection tools for the gathering of this type of information include:

  • interview surveys and questionnaires,
  • expert reports and white papers, and
  • intelligence about clients from other various sources.

Summaries can then be communicated verbally or in short memos to decision-makers.

Since organizations prosper or die from the delivery of messages to internal and external stakeholders, it is vital to maintain a consistency about who you are, where you were, what you represent, and where you will go in the near future. Communication staff therefore maintain the responsibility for:

  • program descriptions,
  • models,
  • visualizations,
  • videos,
  • web pages,
  • trainings, and
  • presentations.

Organizations that develop a structure for new business will ultimately succeed better than those organizations that operate as if growth happens by luck and personal connections.