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Getting Your Online Money Making Business Started
For the absolute novice the foray into creating a money making online business can be quite daunting. Most don't know where to start let alone know what to do or how to do it. The one common theme, no matter what their circumstance, is "I want to make money!"
The key to having an online money making business is a change of mindset from employee to business owner or entrepreneur.
The employee clocks in every day, does the required tasks, clocks out again and spends their pay check; sometimes years in advance if they have accumulated credit debt.
The business owner however takes a wider view. He or she has a business plan, sets goals and initiates strategies to achieve them. The business owner forecasts their income in advance.
One of the first things to do, to avoid information overload, is to sit down with pencil and paper and plan your business.
Begin by defining what sort of business you want:
1. Physical products
This could be based on something as simple as your favourite craft or hobby. My teenage daughter, for example, loves making her own jewellery; so much so that our home is literally littered with her "creations". Therefore I built a website for her to sell it.
2. Electronic Products
If "making" a physical product to sell seems like too much work, how about creating a "How To" ebook about all you know on your favourite hobby, craft or area of expertise. Electronic products are very popular with those who want information but don't have the time to do all the research. Gather all your knowledge up in one package and sell your efforts again and again and again.
3. Affiliate Program Products
If you are really stuck for an idea of a product to sell, affiliate marketing
Chinese government company spends $1.74B on Teck stock A Chinese government company will spend $1.74 billion to buy new stock issued by Canadian mining giant Teck Resources Ltd. Chinese firm makes non-binding offer to GM for Opel General Motors Corp. confirmed Friday that it has received a non-binding offer for its Opel division from the holding company of a Chinese automaker. Petro Andina directors oppose $400M takeover bid Petro Andina Resources Inc.'s board of directors is urging shareholders to reject an unsolicited $400-million takeover bid from a private Dutch company. BG Int'l gets Canadian stake in Trinidad gas property BG International will exercise its right to buy a 45 per cent stake in a natural gas property off the coast of Trinidad from Canadian Superior Energy Inc., the two companies announced Friday. 6th bomb at B.C. pipeline causes gas leak EnCana Corp.'s natural gas pipeline in northeastern B.C. sprang a small leak after being targeted by a sixth bomb Saturday, the second case of what the RCMP describe as 'domestic terrorism' in less than a week.
Adaltis Inc. granted creditor protection Adaltis Inc. was granted protection under the Companies' Creditors Arrangement Act on Friday after announcing that it doesn't have enough cash to meet its current obligations. Baffinland Iron Mines may have to revise shipping from Nunavut Baffinland Iron Mines may have to consider other routes to ship ore from its proposed Mary River mine site in Nunavut, due to public concerns presented to environmental assessors earlier this year. Ford overtakes GM in June sales in Canada June sales at Ford of Canada jumped 25 per cent while sales at General Motors Canada fell 31 per cent, the companies said Thursday.
U.S. sheds 467,000 jobs in June The United States lost 467,000 jobs in June, the Labour Department reported Thursday. Disappointing U.S. jobs data push stock markets lower Stock markets in Toronto and New York fell Thursday as U.S. employment data showed employers cut 467,000 jobs in June, driving unemployment to a 26-year high of 9.5 per cent. Air Canada deal rejected by machinists A section of one of Air Canada's unions has narrowly rejected the airline's restructuring plan, the International Association of Machinists and Aerospace Workers said Wednesday. 100 Huntley Street hosts suspended during Ponzi scheme probe Ron and Reynold Mainse have been relieved of their duties as hosts of Christian program 100 Huntley Street after allegedly becoming involved in a $14.1-million Ponzi scheme. Bell closes deals for The Source, Virgin Mobile Canada Bell Canada has completed two deals worth a total of $277 million, acquiring Canadian electronics retailer The Source and buying the half of Virgin Mobile Canada that it didn't already own. Investors more confident, poll suggests Canadian investors are increasingly confident, with real estate leading the way, the Manulife Investor Sentiment Index released Thursday suggests. AbitibiBowater names chief restructuring officer AbitibiBowater has appointed Bruce Robertson, a former senior managing partner at Brookfield Asset Management Inc., as chief restructuring officer as it tries to work its way out of bankruptcy protection.
is a good place to start. Affiliate marketing is selling someone else's product for a percentage of the sale. The secret to this kind of business is find products that you really love; it will be easier to succeed if your heart and soul is in your business.
There's no reason why you can't do all three - eventually - but for a start choose just one. Once you have decided, plan out ways to implement this new business. Break the plan into smaller, easy to achieve tasks. For each stage of implementing your money making business work on bite size pieces.
For example: "I need a website" can be refined into:
- Registering a Domain Name - Find a web host - Find an Auto-responder service - Find a web designer or for the do-it-your-selfer, lessons on website building - Find a payment processor
A certain amount of single-mindedness is required as it is easy to become distracted. You might find ideas popping into your head as you are working away. Great! Write them down in your ideas vault and get back to business. They can always be developed later when you have finished the task at hand
All good business owners work within time-frames. Use this to measure your effectiveness and productivity. Schedule time for your tasks, set a completion date, review your progress, and then adapt to make improvements.
While overseeing your business as a whole and focusing on the tasks required, your online money making business will take form and you'll find you will make money.
Dee-Dee MacLeod-Wilson (http://www.wanttoworkfromhome4life.com) is a Kiwi work from home mom with a holistic approach to helping like minded parents become successful work from home families.
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