How to run an online business

March 11th, 2009

There are fewer thrills greater than running your own business, whether it is a brick-and-mortar business or an online business. Still, the sad fact is that the majority of small businesses fail within two years of starting. While no one can guarantee your success in your online business, following these few important steps can put you on the fast track toward building a profitable and enjoyable online business:

1. Have a plan. Write a business plan, and follow it. Know your market, know your products, and know your resources. Investigate strategies that work and strategies that don’t. Learn from the experts in your field, and study business and marketing ideas from the greats. When it comes to running an online business, knowledge is power.

2. Be flexible. As important as it is to have a plan, it is just as important to be able to modify that plan if your circumstances change. You have to be able to roll with the punches, and to make changes when necessary. You also need a backup plan for when disaster strikes, such as when a supplier dries up or you lose your biggest client.

3. Be dedicated. You will never succeed at running an online business if you are not dedicated to the task. Running an online business can be even more involved and time-consuming than running a brick-and-mortar business. Any small business, online or not, will probably take more time and energy than a regular 40-hour job, at least initially. Running an online business is not for the lazy or the weak.

4. Organize your business. You might be the best basket-maker in the world, but if you can’t keep track of your business expenses, you’re going to fail. You have to know how much it costs, for example, to make each basket. You have to know how much it costs to ship them, and how much you’re spending on advertising. You have to be able to understand the basics of accounting, even if you outsource the actual accounting process. Finally, you need to be able to keep organized records for your business to protect yourself when it comes time for taxes, or for collecting on delinquent invoices.

5. Be prepared for success. You could prepare yourself for failure, but the fact is you are much more likely to succeed in running your online business if you set achievable goals that you measure through the process. You might be surprised to find exactly how successful your online business can be.

Learn more about running an online business with these resources:

<a href=”http://younces.olwcode.hop.clickbank.net/?tid=WEALTH” target=”_top”>Crack the Online Wealth Code Today</a>

<a href=”http://younces.inthomebiz.hop.clickbank.net/?tid=HOMBUSI” target=”_top”>Smart Internet Home Businesses</a>

WAHM Tip: Flexibility

March 7th, 2009

Flexibility.  If you are going to succeed as a work-at-home mom, you’re going to have to learn to roll with the punches.  Is your particular at-home business not doing so well?  Don’t be afraid to try something new.  It is succeeding?  Don’t be afraid to try new approaches to build on that success.

WAHM Oportunity - Programming Writing and Design

March 6th, 2009

DISCLOSURE:  As I always do with WAHM Oportunities, let me tell you first that today’s  is an affiliate of Sophia’s Life.  That means, basically, that I receive compensation when you purchase products or services from the web site(s) below.  Having said that, I don’t post affiliate links like this unless I’ve actually used them myself.  Many WAHMportunities have affiliate programs, but I don’t participate in most of them because I don’t know enough about them.  You have my promise that, in this context, I will only recommend to you products or services that I am comfortable with in terms of their legitimacy.

So, if you’re still here, on to it.  If not, see you tomorrow :)

Scriptlance is, in my mind, like the eBay of working from home.  If you are a writer, programmer, web designer, marketing specialist, or computer or Internet guru, Scriptlance is a place that you can find companies and individuals who are looking for your talents on a per diem type of basis.  I’ve found quite a bit of work there myself, and will continue to for the foreseeable future.

Lest you think I’m a shill, though, let me offer you some advice and warnings about Scriptlance:

  • Always use escrow. One unpaid job and you’ll wish you did.
  • You probably aren’t going to make what you usually make.  Scriptlance is competitive.  Expect 30% less hourly.
  • Members in developing and emerging countries will underbid you every time.  Be aware of it, but stick to your best price.
  • You’re going to put in at least 10 bids for every project that you get, at least initially.
  • Do consistent, high-quality work, and you’ll get lots more from the same buyers.
  • Do one crappy job, and you’ll be blacklisted among the bigger buyers.
  • If you’re a writer, make sure the buyers know that your native language is English.  Some buyers won’t even look at you if you don’t.

There are other sites out there that do the same sort of thing.  One is Get A Freelancer.  On this one, watch out for way too many emails if you sign up to have projects sent to you.  I haven’t personally had any business from this site yet, but I’ve had leads.

Calamari.

March 3rd, 2009

I found the coolest thing yesterday.

It’s called squidoo.  It’s my understanding that Squidoo is the hottest thing on teh Intarweb since LOLCats.

Go check it out, and see what I mean. It’s amazingly easy to sign up, too!

Here’s a cool article on Why You Should Squidoo.

WAHM Quick Tip: Diversify

March 2nd, 2009

Here is another WAHM Quick Tip:

Diversify. Don’t be afraid to step out into new territory, whether it is a new market for whatever product you have, or whether it is a new service you can offer, or whether it is a new way to try to reach your clients.  Some, if not most, of these new roads will dead-end; but the ones that pay off will have made the experimentation worth it.

WAHM Opportunity: Telephone Work

March 1st, 2009

Today’s WAHM Oportunity is probably not a new one for anyone who has considered doing telephone work from home.  For those of you who haven’t heard of it, though, Live Ops is one of the more reputable and stable call-center businesses that provides work-at-home opportunities.  I’ve known gals that have worked for Live Ops, and they seem fairly satisfied.  If you’re interested in a job rather than running your own business, give these folks a look.

Alpine access and West at Home are other companies that do the same sort of thing, although I don’t have any personal perspective or info on either of these.

WAHMportunity for February 1, 2008

February 1st, 2008

Today’s opportunity looks to be an interesting one:

Start Your Own Gift Basket Business

If I’m following it correctly, it looks like these folks will provide you with the tools you need to sell your own gift baskets online.  It seems they’ll do your web site design, install and operate all of the ecommerce software, etc.  You just provide them with your business info and pics.

Pricing seems a bit steep at first glance;  $500 for a basic web site isn’t bad, but $20 a month in hosting is kind of high.  I dunno, check it out.  If I hear back from a reader who’s happy with them, maybe I’ll add them as an affiliate sponsor of the site!

At any rate, I’m definitely intrigued.

WAHM-Tip #5: Delegate.

February 1st, 2008

Delegate.  You might be motivated.  You might be productive.  You might be talented.  You’ve got to be if you’re going to be a successful work-at-home mom.  But, you aren’t Superwoman.  You can’t move at the speed of light, and you can’t master everything.  It’s OK to ask for help when you need it; and it’s OK to offload a task to an expert.

WAHMportunity for January 31, 2008

January 31st, 2008

OK, so this one looks interesting:

Santa Letters Business.

Don’t know as if I’d invest the $18 in an e-book that tells me how to write letters from Santa… but, take a look.  Maybe it will spark some ideas.  If you do wind up shelling out the cash, and would be willing to review the book, let me know and I’ll put your review up right here!

WAHM-Tip #4: Integrity

January 31st, 2008

Integrity.  Nothing is more important to the small business than integrity, not even profits.  Integrity is what compels you to shop with the local mom-and-pop hardware store when you need a hammer, rather than going to the Big Boxes.  Lack of integrity is what sends you to those same Big Boxes instead of your local mom-and-pop appliance dealer.  This is as true in New York City as it is in Omer.  And it’s true on the Internet, too.