Following are the top 10 tips to start an online or even offline business.
1) Do what you love the most
Don’t jump in the pool just because you are seeing other people are doing so, You’re going to spend a lot of time and energy to starting an online business and surely end of the day making it an enterprise, so its really important you MUST truly love what you are going to do.
2) Most importantly start your business while you’re still employed or at least have a backup
Can you survive without money? Answer is not long . As because of Dot com boom there is so much competition you may have to wait bit longer, unless you have an innovative idea.
3) Listen Others
While starting your business, its better if you take advice from a family member or a trusted friend, who will listen sympathetically. Do note starting a business in any field requires experienced guidance J, so that’s an extra bonus, you may take an experienced guidance from mentor.
4) Get clients or customers first
Start promoting your business as soon you got a plan. Make the contact, distribute flyers, spread the word of mouth, promote products and or services. Even though these things are not going to cost you but end of the day your friends may be your first buyers.
5) Make a business plan.
Make an actionable business plan, write steps, make flow charts, look at different avenues, note down pros and cons, so you have a clear plan where you are heading in terms of success and disaster.
6) Do the research
Analayze the markeat, look around and see your competitors. While you’re starting a business, you need to become an expert on your industry, products and services, if you’re not already. Meet like minded people, industry professionals, or join associations to get better idea whats going on inside the circle, “Don’t forget at this point in time you are 99%”.
7) Get professional help.
Getting some kind of professional help is an extra bonus, try to find quick professional advice from an expert over phone, visiting an association head office and or hiring a qualified expert for a month or so.
8- Get the money lined up.
Avoid banks as they are rip off, however approach potential investors and lenders. Draw your financial fall-back plan. Don’t expect to start a business and then walk into a bank and get money.
9) Be professional from the get-go.
Be professional from the start. That means, have a professional business cards, a business phone and a business email address. Moreover, a professional web presence will be an extra bonus.
10) Get the legal and tax issues right the first time.
Lastly don’t forget the tax issues. Does your business has to be registered? Will you have to pay GST or PST?. Usually for online business you don’t need so much tax responsibilities. On internet you can start business in a matter of seconds once you have drawn up a business plan.
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