Starting a small business is a big, scary step into the unknown, but just by considering the option, you’ve taken the first crucial step. After all, as someone who’s never done this before, you’re likely feeling a little nervous and possibly overwhelmed—but don’t let these feelings stop you. Certainly, being a small business owner isn’t easy and it comes with its fair share of risks. And, if you are wondering how to start a business, you’ve probably heard the stats about business failure.
This being said, knowing you want to start your own small business doesn’t necessarily mean you know how to start a business and make your dream a reality. Ultimately, there are many paths to business ownership, and the details depend on your background, connections, and the industry. Luckily, even with these specifics, there are still commonalities to starting a small business that apply across the board.
In our “how to start a business” guide, therefore, we’ll break down some essential steps you can take to start your business—covering everything you need to know in order to launch a successful, profitable small business that customers will love.
Let’s get started.
Working smarter, not harder, is the key to better results…
Everyone has seen the enticing world of building a business online, but few are able to harness its power.
In this article I’m going to share with you a simple, yet regularly overlooked, factor in building a business online.
Starting An Online Business?
Before I do let’s make sure we’re all on the same page about what an online business is. The vision of fancy cars and crazy “laptop lifestyle” Instagram kids might come to mind, and I wouldn’t blame you for brushing off the idea of building an online business as a “scam” or a “myth” – something that all these flashy people are faking, using trust funds to pay for it all.
Truth is, those types of individuals are a microcosm of reality. Today more people than ever are making a living by selling products (physical or digital) online. From young upstarts fresh out of school, to retirees the online economy is more diverse than ever.
Maybe you’ve dabbled in selling online, or know someone who has. If you didn’t see “instant success” did you just conclude that there’s no way to make it work?
Many find themselves either too skeptical of the concept, or have been stung by the pain of failure, so it’s understandable why you might find yourself holding back feelings of excitement and letting feelings of hesitation take their place.
Why The Hesitation?
There’s an interesting phenomenon in Stock Trading that can be useful to understand WHY we might hesitate
to explore opportunities like building a business.
If someone gets into stock trading and finds themselves experiencing early success, a good trade, they are much more likely to trade more aggressively in the future.
Likewise, if someone experiences a poor trade early on they are much more likely to quit all together or be so risk
cautious that they don’t take the chances necessary to experience any level of success. Without risk there is no reward.
The problem is that often times we let emotion have control over our lives instead of logic. One bad decision (or really one good decision) shouldn’t determine our destiny. What we need is to understand what caused any failures or mistakes we experience, and learn from them!
The same goes for building a business online.
Selling products, services, and goods online is outpacing offline sales, and approaching TRILLIONS of
dollars in sales.
To tap into that market we need to look at it just like we might look at setting up a physical store, with many of the
same principles applying.
What’s The Missing Factor?
One factor, the one I was hinting at in the title, is quite possibly the most common issue first timers get wrong when they start from scratch. They try to make it up from scratch, doing it all themselves.
They’re so confident in their ability to figure it out by themselves that they are almost blinded by their confidence.
Their confidence overshadows one important reality that we need to remember. Even though it’s a HUGE opportunity to build a business online, there are lots of people doing it!
Competition isn’t a bad thing, it means that people are buying! But it does mean that the bar of entry is higher,
and that we shouldn’t underestimate the difficulties that come with “going at it alone”.
So what is the “missing factor”?
Well, to put it simply, if you’re looking to do something completely new, from scratch, you shouldn’t be afraid to ask for help.
Finding a strategic partner that can work with you and help you avoid the mishaps that they’ve already overcome can be a powerful way to avoid those early common mistakes.
For example, imagine you were trying to make a pizza from scratch. Maybe you have all the right ingredients, the flour, tomatoes, toppings, water, cheese, etc. But if you don’t know when to use which ingredient and how to
combine them correctly, chances are you’re just going to make one giant mess!
Wouldn’t it be great if you had a chef in the kitchen to walk you through the process? Someone to point to the ingredients and tell you when and where to add them.
Learning from their experience would save you countless hours of trial and error.
Building an online business isn’t terribly complex, but neither is a pizza, and it’s true that you can figure it out on your own… but man is that the messy way to do it!
I want to invite you to watch a video where the exact ingredients are mapped out for you on how an online business work, and many examples of what it takes to create a profitable one from scratch!
As usual, I want to thank you for visiting and hope that you found something here that will help you in your online endeavors. Feel free to contact me anytime.