How to Build an Online Business

February 21, 2011
By
Copyright © 2011 Yorgo Nestoridis. Visit the original article at http://yorgonestoridis.com/people/boruch-rappaport/how-to-build-an-online-business-2/.

3 Basic Steps to Build and Online Business

A recent discussion by mail with Boruch Rappaport inspired me to come back to this rather universal topic: How to Build and Online Business.

I will try to keep in short and concise and focus in a synthesized way on the Work-flow and yet there will be multiple posts.

Home Business

1. What is your Purpose and and which are your Goals?

Why do you want to build an online business? Heck, this seems to be obvious, isn’t it? And yet, this is where most of the work needs to be done: distilling the Purpose and setting clear Goals.The Purpose is the answer to the WHY and the Goals are the answers to your material and immaterial aspirations for example.

2. What is the Plan to reach the Goals

Here you detail step by step what you want to do, to reach your Goals. For example, you will need to set up a website, a shop, you will need products and services to sell and you will need to promote your business. Define in detail your infrastructure and products, the look of your website, the quality of your products and the degree of service and customer care you will offer.

3. What are your means?

No, I will not mention Money first – Money comes in last!

First comes the attitude:

How important is this business to you? How much of your brain power, heart and emotion are you ready to load on to the wagon? In fact the answer to this question will determine how much of the basic ingredients to success you will reasonably invest: Time and Money.

Second comes Time:

Success is an equation between Time, Work and invested Money. The less time you are ready to invest, the more money will be needed, because you will need to outsource all the tasks you don’t have time to accomplish. Depending on the level of financial cost, you may or may not be competitive. It is therefore important to plan your time, and to accept, that without a good time investment, no baby will ever fly.

Third: MONEY

There is no free lunch and there has never been a business flying for free.

If your reasons to set up an online business are strong (WHY) and if you have clear goals and if you attack the project with passion and believe, you will want to give your business the means to succeed …  at any cost. Of course you will need to calculate tightly but reasonably and you must make sure that your business will not crash before it takes off due to a foreseeable lack of liquidity.

Fourth: Your Skills

How qualified are you to run your online show? How qualified are you to run a business at all? Where are your strong and week points and how can you compensate for the weakness? May be you need to take some courses to prevent basic errors. What equipment will you need to implement your plan? Are you capable to execute the money making tasks?

In fact your skills are important since your plan is likely to be based on your level of skills and existing equipment.

Finally: Write it all down

Yeah, you are a smart kiddo and you have a big huge brain with a zillion times the capacity of any computer and there he goes and tells us to chock down the obvious?

That’s correct: the fact to write it down and to read it often is like Viagra for your Business – a kick in the but, mentally of course :-). In fact, in the outline you will find the answers to any question anyone may ever ask you about your business, your plan, your goals and purpose. Don’t just learn them by heart but feel them, sense them, live them.

Try it and see how stimulating is is when you are sure about what you are doing.

Look out for the next post about How to set up the Plan for your online home business.

Related posts:

  1. How to Build an Online Business
  2. How to Build an Online Business 2
  3. How to Build an Online Business 5
  4. Ycademy Seminar: How to Build an Online Business
  5. How to Build an Online Business 4

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