Have you been thinking lately that maybe it’s time you start your own business and run your own show? With all the options to choose from in today’s marketplace how does one make a decision as to which business is the right one?
One thing is for sure, starting a business can be a lot of work and takes time, effort and money. If anyone tells you different, turn and run the other direction.
Now making the new business a success and becoming profitable is entirely another story and this pertains to both online and offline ventures. So which way should you go, online or offline; home based, office location or ???
For the remainder of this post I’ll focus on starting your own business online and some of the current options available to you.
Online Business Options:
Although some online businesses might be less money to start up than offline ventures, there’s still a learning curve and money that you will need to get your business started.
One of the things I see is that people think with online businesses you can start them for free or next to nothing. Well I’ve got news for you, no matter which online business you choose, there are expenses involved like hosting, domain registration and site development, let alone traffic generation.
A few of the options that you might consider and look into are:
1. Affiliate Marketing is where you market other people’s products and services and when a sale is completed you receive a commission on the sale. Commissions can range from 3% to 70% and in some cases even 90% or greater. The range of affiliate products available to the online marketer are many. Affiliate marketing also works well with my next option and that is email marketing.
2. Email marketing is where you develop a list of subscribers and convert them into buyers through the process of selling products and/or services, either your own or someone else’s. This process is also called list building and can be referred to as building an email list. To start a business with email marketing is a great way to go, especially if you already have existing expertise on a specific subject or you have a passion about a product or service that you would like to market.
Email marketing can also be used if you decide to establish an e-commerce site of your own where you market your own products or affiliate products.
3. E-commerce is the original online method of moving goods and services. Back when I first started out on the web in 1995, this was how transactions were primarily done. E-commerce is still a sound method, especially for those business owners looking to develop and grow their own business online while having the freedom to mix their own products with other brands.
Look for part two of this series about starting your own business and I’ll go further into more online options plus how you can transition an offline business some things to watch out for. In the meantime – here’s another resource that might help you in starting your small business: Start a Small Business
Should you find that your start up is missing a part or needs something to get going – go see the Small Biz Mechanic and he’ll get you fixed up.