If you are interested in setting up an online business so that you can work from home and make a sustainable residual income, then you have come to the right place.
This site sets out the basic principals on how it works and how to get started and you should visit my page Start Your Internet Business once you have read this post to learn the basics.
In this post however, I have aimed to set out some points for dummies that any beginner should follow that will set them on the right path.
Can I Make Money Online
One point to address is that the cynic in you will be no doubt be asking; can I actually make money from operating an online business? The answer is a categorical YES!
However as you are effectively going to be learning a new business, you need to be prepared to learn.
Therefore brace yourself for some education, and hard work if you are serious about starting an online business.
Is this for me
You might ask your self is this for me? The answer, well, really depends on your circumstances. What I would suggest is that you follow the following criteria in determining this:
1. Can you operate a computer and willing to learn new things (not complex so don’t worry)?
2. Can you commit, at the every least, 15 plus hours per week but work flexibly as it suits you?
3. Can you write about something you are passionate about (we’re not talking Shakespeare level here, just simple blogging about things you are interested in)?
4. Are you looking to make a residual income for the rest of your life and therefore prepared to give this a go?
If so then this absolutely for you. I entered into this business because of 2 and 4. I wanted the flexibility to dictate my own hours and also have a residual income i.e. have my efforts pay me off for the rest of my life which sure beats a days work for a days pay philosophy.
Costs
I have looked at this in further detail on another post but I wanted to touch on it here.
Personally, I used to waste a lot of money before I settled down with a family. I would quite easily blow £250 – £300 per month just going out with friends, eating out and spending on frivolous things.
So when starting out online, I was amazed at my own tight approach of setting a budget before I would give it up! When putting it in context, it was easy for me to justify any initial outlay because like any approach to business, I saw any costs as an investment and also, for once in my life, I was spending on something that was going to improve my position, not get wasted down the drain.
So if you need a computer or laptop, see it as an overhead. Amazon always have cheap deals on and you can check out some deals from here. Luckily, that’s all you need to get started. On the platform I use, you can set your business up for FREE and not shell out a single penny. You can in fact, once your business is up and running, continue to run it for free though it is slower and more difficult to see returns compared to having a tiny budget -check out the post I mentioned earlier for the full low down.
I personally set aside £300 for any costs before I would start panicking about seeing a return. Luckily, I started seeing returns without even scratching my budget by about month 3. Some people, will start earning within a few weeks – it just depends on how much time you can commit.
Goals
Once you have a budget, set out some goals. Don’t be afraid to be ambitious, you can get there whatever your target, but know that you are likely to miss it in your predicted timescale. I say this because you will have a lot to learn and may try a few sites before setting with one so there’s no way of being certain that you will hit your goal. Conversely you could far exceed your target.
Goal setting is useful in that it helps you manage expectations and at the same time, keep you focused on why you cam here in the first place – to make money.
Plan & Action
With some goals set, plan your weeks ahead and aim to complete one major task each day. Take action on your plan and keep adjusting this plan as you learn. That way you can track and evaluate your progress and analyse where things might have gone wrong or why they went right.
The best business owners offline are those that are dedicated, work hard, learn, apply their knowledge and continue to be able to adapt to their business environment. The same is true for online business owners and so you should have this mindset from day 1.
Learn
I can’t stress how important this last tip is. Somethings work and somethings don’t and sometimes the only way you can find out is trying. But just because you do something one way does not mean you should always do it like that. So always learn from your actions and mistakes.
Once your site is up, you will be adding to it continuously and tweaking it. Therefore, it will evolve as your knowledge builds. I found when I started with my first site, my plans for it were very different to the site I ended up with by week 4 after building it out and tweaking it. You’re likely to experience something similar so don’t be afraid of being adaptable and flexible. Just continue to learn and take action on what you learn.
Questions?
I hope this dummies guide has been useful. Hit me up if you have any questions and check out how you can get started with 2 free websites on the platform I use – my review of it can be found here.