Starting an online business can be simple, inexpensive, and lucrative. Or it can be confusing, costly, and disappointing; it all depends on how you approach the process.
It’s no secret that people from around the world are making money with their own online business venture. And it’s difficult to turn on the television or access the Web without seeing multiple advertisements offering to help you make money from with an online business opportunity.
But how does a person with no existing business idea get started? If you’re totally new to the idea of making money online, but you really want to move forward, how can get started?
The good news is there are many different types of online business model. In fact there’s probably an option for every personality type and skill set!
So the first thing to do when starting an online business is to decide what kind of business you’d like to have. Spend some time thinking about what kind of work/management tasks appeal to you.
Do you like the idea of selling physical products and shipping them around the world? If so you might start with online auctions and then graduate to your own e-commerce site.
Are you attracted to a network marketing approach, whereby you retail products by recruiting other opportunity seekers and teaching them how to do the same? In this case, you’ll find a wide range of opportunities to choose from; just be sure you do your homework to avoid being scammed!
Or perhaps you would enjoy packaging and selling information on topics you enjoy or have some expertise in. There are numerous ways to approach this model, and each method can be extremely lucrative.
It’s absolutely critical that you spend some time thinking seriously about the kind of business you could really enjoy. If you aren’t able to have fun while building and running your business venture, the project will most likely flop.
Many people find it helpful to sit down and create a list of topics they have an interest in. Don’t worry about being especially organized, just jot down or type up a few headings that represent subjects you like, know a lot about, or would like to learn more about.Once you have a list of 10 to 20 items, begin associating these items with possible business models. And don’t worry about knowing for sure if your business model even exists yet; it’s entirely possible that you’ll create a brand new idea and form a business around it! Your goal with this exercise is to get a general idea, based on your list of interests/sills, what kind of online business you may be able to start.
For example if martial arts is on your list, you might be able to:
- Sell physical training equipment from an online storefront.
- Create video tutorials to help beginner’s choose the right martial arts program.
- Review martial arts movies and recommend your favorite flicks through an online affiliate program that pays you a commission on each DVD sold.
- Fill in your own original idea here!
Remember this is just a brainstorming exercise to help you get the ball rolling. So don’t hold back or worry about an idea being “realistic”. Just get as many fun things listed as possible.
And it’s worth stressing again: Starting an online business should be FUN, so make it this way from the very start by enjoying the process of creating your lists.
Once you have a good list of your areas of interest and knowledge, plus a general idea about the kind of business you might be able to start, you are ready to begin some serious research. We’ll talk about this process in Starting An Online Business From Scratch: Part Two – How To Research Your Idea.
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