STARTING YOUR BUSINESS 101

Discussion in 'Internet Marketing Forum' started by Joe, Apr 29, 2016.

  1. Joe

    Joe Thread Starter Respected Contributor

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    This article appears on my blog at:

    http://discoverhowtoworkfromhome.biz/internet-marketing-articles-info/starting-your-business-101/

    What Do You Need To Consider Before Starting Your Business?


    Starting your business takes a bit of thinking. There are a few preliminary considerations that you must have in place before you even know what type of business you want to start.

    And you must also be certain that you’ll commit to making that business a success.

    Some initial things you want to think about:

    What is the nature of the business?
    What do you want to accomplish with your business?
    What will you sell?
    Will you build your business in the traditional (offline brick & mortar) way?
    Will you build your business online?
    Will you build a combination offline/online business?
    Why?

    You are in sales

    The very first thing you absolutely MUST understand is that you are a sales person.

    This holds true in business because the very nature of a business is the act of selling a product, or service.

    This also holds true in your personal life because you sell your personality to get a mate or significant other, and friends.

    It holds true when you seek employment because you sell the fact that you have the skills necessary to perform the job requirements, you sell the assurance that you will perform the job requirements, and you sell your guarantee that you’ll show up for work.

    In every area of your life you are a sales person!

    My business had to be mobile.

    When I first decided I wanted to start a business I had one main condition that my business had to satisfy – or it wasn’t a doable business.

    You see, I really enjoy travelling, and any business I launched had to not only provide me with a comfortable life

    …but it also had to pay for me, and my family, to go anywhere we decided to go (comfortably)

    …at any time we wanted to take off and go (time freedom)

    …and it had to be a business I could maintain while we were going there – while we were there – and while we were going back.

    If we decided we were going back…

    My business had to be a mobile business.

    Because of that basic stipulation I decided on creating a business on the internet, because working online allows me to take a laptop, a smart phone or tablet, and a hotspot with me while I travel.

    And run my business from anywhere.

    So many choices.

    But even a business that seems, at first, so very basic turned out to have a number of business models hidden inside.

    I started out with affiliate marketing, as many newbies do. And I did okay with that.

    Then I decided that owning a product to market gets you a higher profit, so I went off in search of that.

    I continued working my affiliate marketing, so adding my own product created a new income stream for me.

    And maintaining multiple streams of income gives your business a comfortable level of security.

    In the past I had a good bit of experience in different subject areas, and that gave me the knowledge I needed to write a number of books – so I did.

    And now I have a few books that I market on various websites that I own, and also on Amazon.

    I learned about retail arbitrage.

    That’s where I stop in at department stores like Walmart, look at products that are on sale, and products that are on the close out shelves.

    I identify the products with prices that I can turn around and sell online for a markup and profit.

    I learned about buying wholesale, and selling at retail.

    And I added those marketing techniques to my income streams.

    I did run into one thing about the arbitrage & wholesale methods though.

    They’re a bit labor intensive. Snooping around those shelves in a store takes time. So does ordering product at wholesale. And the packaging and shipping process takes even more time.

    I did learn some shortcuts for those time consuming tasks eventually.

    When you’re mobile like I am you want a business that takes no more than a couple hours a day at most. You got sights to see. I won’t abandon these streams, but I don’t get distracted by low profit opportunities either.

    Now I’m learning, and implementing, revenue sharing, real time bidding, and social media business techniques. I’ve added those to my collection of income streams, and they’re looking good.

    Don’t get confused by too much input.

    I don’t recommend that you jump into more than one income stream at a time if you don’t have experience with the techniques. You’ll get overwhelmed.

    This isn’t about getting rich fast. No such thing anyway. This is about building a true business with multiple streams of income. This is about growing slow and steady. That’s how you learn, and become successful.

    The whole point is that you understand there are a whole bunch of different types of business models, and it depends on what you want your business to do for you which model(s) you persue. Once you know the ones that you’re most comfortable with you can begin putting your income streams together to build a true, secure business.

    Make a list of your chosen business models. Place them in the order of your comfort zones. Start with the method you feel most comfortable with. Learn that method. Build it so it’s working well for you. Then start learning the next one on your list.

    And smoothly, over time, you’ll have a successful business you can be proud of.

    Joe Jackson
    The “business we can run from anywhere” guy
     
  2. LLRhodes

    LLRhodes Junior Member

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    Joe,
    How do you choose your niche?

    I'm curious how come you chose your products before choosing a niche?

    I've heard that you choose your niche first.
     
  3. Joe

    Joe Thread Starter Respected Contributor

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    Somewhat true LLRhodes.

    These days when I decide to go in search of a new income stream I do niche research up front.

    Keep in mind, though, that in this article I'm referring to my steps in starting my online business. That happened in the mid to late 90s, and at the time I knew nothing about niche considerations. I went with personal hobbies, and experience when originally choosing the products I wanted to market.

    My background was in avionics high quality electronics manufacturing - not business. From the career I had in that field I have a good bit of training and experience with personal development techniques. My college background is Vocational Education Electronics, which gives me some qualification as a vocational teacher.

    My publications evolve mostly from that time in my life, along with other activities I've enjoyed.

    Everybody has to start somewhere, and if you spend all your time studying you'll never succeed.

    Another maxim I'm sure you've heard is (and this isn't a direct quote): Don't strive for perfection. Take action. Get started. Then improve as you test.

    It's important to continue educating yourself, but more important to do that as you walk your path, and use the education to fuel your growth. Experience is a great teacher. But the greatest teacher is the experience of others. Those who went before can show you the mistakes they made, and how they solved the problems that caused those mistakes, so you don't need to repeat them.

    That's the experience that helps to smooth your road to success.
     

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