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Online business is still a BUSINESS

5 Easy Steps to making $$$ on the Internet…

1. Connect to the internet     make-money-561036_1280

2. Get a webpage

3. Build content

4. Get readers

5. Make money

 

Is it really that simple?

Or Maybe

Join up with a guru

Who has developed some internet money making machine ready for you to just access and the $$$’s will just role in:

1. Connect to the internet   road-sign-464653_1280

2. Pay your joining fee

3. Pay for more extra’s

4. Probably see $0 – its a scam and the only one getting wealthy is them!

 

“Successful Online Business is a Serious Business and needs to be embraced as a Business” 

Example one above is definitely on the right track towards building a successful online business.  They have some of the necessary components in place to do well in internet marketing.

However, this simplistic view is missing a number of key components that will enable them to be successful.

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Consider these keys to building a successful business:

  1. Defining your objective

    Know what you wish to accomplish and where is your desired long-term destination.  Some people may refer to this as your mission.  Read article on defining your objective here.

  2. Setting concrete goals

    Define interim steps along the journey for various aspects of your business.  These need to be quantifiable, achievable and measurable.

  3. Understanding your business / market environment

    You operate in an environment that impacts you on a daily basis.  This can include internal and external factors such as competition, technology, government, economics, staff & contractors, processes and more.

  4. Developing a simple business plan to guide you on your way

    “If you fail to plan, you plan to fail”

    Develop a business plan that includes the strategy and steps to achieving your goals and overall objectives.  This does not have to be 20 or 50 pages, but even 1-2 pages of well thought out steps that guides you in the key areas of your business is very valuable.

  5. Consistently working towards your goal

    Consistency and determination are a key to success. Too many people give up just before they start to reap the rewards.  Success belongs to those who persevere and work consistently towards their goals, making adjustments as they learn or the environment changes.

  6. Continually improving your knowledge, skills and competitive advantage

    You can only grow your business to your own knowledge, skills and capacity. Your own education and personal growth is key to building a successful business.  Small steps continuously will see you reach your objective.

  7. Getting sales

    Sales are the lifeblood of any business.  They provide revenue and a lot of our focus must be on how to maximise our sales potential.

  8. Monitoring your cashflow

    A business will die without cash – it can not pay its bills, pay you or invest for growth.  Careful cashflow management will aid your success.  Apple & Microsoft have stored vast reserves of cash and it has enabled them to take advantage of opportunities when they arise and also to stop disaster when it threatens.

  9. Understanding your profitability

    You need to have cash but if you are not making a profit in the longer term, the cash will eventually run out.  It is vital to understand profit and cash are two different components of business.

  10. Investing for future growth

    “Whatever you sow, you will reap”

    A proportion of what you have needs to be reinvested so you can grow your future.  A farmer does not eat all their harvest but saves some to be seed for the next season.  Investing wisely for the long-term will enable you to grow a better business.

  11. Understanding and complying with various regulatory requirements such as registrations, taxation etc

    Few of us enjoy the regulatory side of running a business but not paying attention to this can end your business in one act.  Some criminal aspects such as not paying taxes can end up with severe fines or even jail, so it pays to make sure you understand your responsibilities and complete what needs to be done.

My next few posts are going to deal with these components in more detail.

I will provide guidance and ideas on how you can achieve each of these aspects and how they contribute to building your business.

These steps are critical to building a successful online business.  Any successful business takes time, effort and skill to achieve its goals.

With the right focus, You will have the Business you Desire! 

 

Example Two illustrates how many people think they can make money on the internet.

It’s easy! It’s quick! Just follow my scheme! I’ll do all the work for you!

You’ve probably seen it, heard it and maybe even been burned by such promises.  All they are is empty scams.

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A simple principle – “Anything worthwhile in life takes time, effort and skill”

 

Yes – 1 in 1000 may get lucky and make something but most of us just pay these guru’s and scammer’s and waste our hard earn cash.  Don’t gamble your future!

Decide today to take the long road, the harder road, the one that leads to long-term sustainable wealth!

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Alongside the series of blog posts about business process and steps to be successful, I will be writing articles dealing with the difference between investment and speculation, building and gambling.  These articles will enable you to chart a course to being wealthy long-term – not by chance but by decision!

 

Trust you have enjoyed this post and please watch for the next series which will provide practical advice on business and building long-term wealth.

Please feel free to leave a comment or question and I’ll get back to you.

Richard

Richard Wagener

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