Are you seriously considering starting your own online home business but have no idea where to start? Or perhaps you already have a website but just can't seem to earn any money with it?
I am not talking about one of those earn easy money gimmicks where you hand over a small fee to join with the promise of easy commissions for sales made to your prospect by the companies sales people. You know the ones where you get a cookie cutter website which is exactly the same as 000's of other affiliates (suckers) sites and free coaching calls. These schemes promise you a high income for very little effort.
The thing is, with these schemes, there is usually no product and you end up just promoting the same opportunity that you have been sold (cookie cutter website, and coaching calls designed to suck others into signing up under you).
Then you find out that the coaching calls are really calls to pressure you into buying advertising for your site. Advertising provided by a partner company that you later find out is also owned by the affiliate company.
That is not what this site is about....
When I talk about building an online home business I am talking about building a real business. A business that is unique and entirely yours.
Built up slowly over time and if you want to truly be successful, it will involve a significant amount of work.
Your online home business can be started with a minimal investment of cash, but it will require you to spend the time initially to set up the foundation for your business, then to build your online presence and then still more time to maintain. You can hire experts to help you just about anything to do with your online business, including aspects like the design, coding, or content creation, but you really need to do the work to lay the foundation yourself.
Where to Start Building Your Online Home Business
Before you start signing up with hosting providers or securing your domain name I recommend that you take some time to work through a few of the same steps you would take if you were starting an off-line business.
If you want to build a viable business - one that is sustainable and that can produce a reliable income - then you need to do some work on your business model.
Some of the things you will investigate include:
- What kind of business do you have sufficient knowledge, skills or talent to create and run
- What would that business look like (entirely online or a mix of online and offline, product business or a service business etc.)
- Is there a market for the products/services/information that you intend to provide and how will you reach that market
- What should you charge and can you make a profit after paying all the costs to keep your business stocked and online
- Which platforms or applications are you going to need to build and maintain your online presence
Building that foundation is what this site will guide you through. The rest (as they say) will be up to you!
What the Heck is BAM?
BAM is an acronym used by the company that I use to build my online businesses.
I could call them a host, but they really do offer so much more than just hosting - but more on that later - this is their definition of BAM:
- Brains - having knowledge and passion about your chosen niche topic
- Attitude - a positive one, even in the face of occasionally feeling overwhelmed
- Motivation - a strong desire or willingness to do whatever it takes to make your business succeed.
Basically that means that providing you have the appropriate tools to hand (and you use them appropriately) anyone who has knowledge to share can and will be able to create a successful online business providing they have the right attitude and they have the patience and motivation to stick with it!
Do you have BAM?
Advantages and Disadvantages of Owning Your Own Business
Before you jump in you should consider whether owning your own business is really what you want to do!
Although there are a lot of advantages to starting a business, like having more control and the potential to make good money, there are also one or two really serious drawbacks or disadvantages. Although you get to make all of the decisions about your small business and can make it just about anything you want it to be, the buck stops with you.
You will be responsible for making it work, you will not be able to count on a regular paycheck (especially in the first couple of years) and most of the time you will be alone. Alone when it comes to making the hard decisions and alone if things go wrong!
And there are no guarantees. A very high percentage of small businesses fail in the first one or two years of operation.
Types of Online Businesses
If you are considering starting a small business, it may pay to consider the many types of small business to identify the right one for your new business. For example, what are you going to sell? Will it be hard goods, digital products, other peoples products or will you be developing our own product line?
Will your small business startup be a retail, service or manufacturing business? And if you decide on retail, will you hold the inventory yourself, or will you be looking for suppliers that will do drop-shipping for you? If you are a service provider, can that be done online, or do you need to meet with your clients face to face? If you decide to create or manufacture your own product line, do you have the room/facilities available to you to manufacture or create your own product line or do you need to find premises?
Will you operate your business online or offline or use a combination of the two?
All of these options will affect many of the decisions you will have to make about how your small business should be set up, whether or not you can operate your business from home, if you will need to hire staff, how much small business startup funding you will require and how the business will operate on a day to day basis.
10 Steps to Get You Started!
Do you know all of the steps involved in starting a new business? If you want our new business to be successful it pays to go through each step carefully before you jump online.
Believe it or not, getting from the point where you are developing a business idea to actually opening the doors is a process with 10 clearly defined steps!The benefits you get from completely each of the steps outlined below will be directly proportionate to the amount of time and effort you put into completing each of them. If you are truly serious about creating and new online home business, it is important that you take the time to plan your business properly.
A small online (home) business can be inexpensive to start if you plan on doing a lot of the development work yourself and most people discount the investment if a majority of that investment is time.