6 Important Questions to Consider Before Starting Your Online Business
Starting a business – any business – is exciting! The prospect of making a full-time living (or having a side-gig) from the comfort of your home or anywhere remotely is a dream for many people. Turning your blog into an online business (especially with so many free resources of credible information online and elsewhere) can be very lucrative. It is a commitment – a BIG commitment.
(DISCLOSURE: THIS POST CONTAINS AFFILIATE LINKS, WHICH MEANS THAT I GET A COMMISSION IF YOU DECIDE TO MAKE A PURCHASE THROUGH MY LINKS, AT NO COST TO YOU. I ALSO REALLY APPRECIATE MY READERS USING THESE LINKS AS THEY ALLOW ME TO RUN THIS BLOG AND PROVIDE FREE CONTENT TO MY READERS. PLEASE READ MY DISCLAIMER STATEMENT FOR MORE INFO)
It is totally normal to feel scared and apprehensive – I know that I was!
While knowing that an online business is WAY less expensive to start and maintain than a regular “brick-and-mortar” venture, there are always costs to consider. So you think about it, procrastinate, and try to talk yourself out of it. BUT…you can do it!
First things first, though…
Ask yourself the following 6 important questions before starting your online business – or any business. Let’s get started:
1. Why Do I Want To Start an Online Business for Myself?
When you are considering starting ANY major venture in your life, you need to ask yourself, “What is (are) my reason(s) for doing this?”. If you have clear and positive reasons, then that’s a good indicator that you’re on the right track! Proceed to the next question.
2. Am I Able to Invest (Monetarily and Time-Wise) in Getting My Online Business Off the Ground?
Remember: The beauty of having an online blog/business is that it is significantly less expensive than other businesses – but there’s still money and your time involved to get it up, running, and maintained.
There’s web hosting for your website, an email provider, and sometimes you’ll need to invest in paid advertisement (example; Facebook, Google) to quickly grow your audience base.
In addition, think about your ability to devote time to your business. Yes; it’s great to be your own boss and set your own hours. However (and take it from me folks!), time and other commitments/distractions can eat into time for your business. To avoid frustration and discouragement, devote a block of time (or a certain amount of time) on certain days in the week to work on your business. Either a simple calendar (print or online) or online (free) business scheduling tools will help!
3. Who is My Audience?
Very important! To make money from your online business, you have to really focus on WHO you’re writing for. It can’t be scattershot by trying to be all things to all people. You’ll be spreading yourself too thin, and your audience may get confused and wonder just how knowledgeable you are on so many topics. Hence, you run the risk of losing not only your existing following but also new followings. And this leads us to the next question…
4. What Is My Topic?
There’s just too much competition out there to have too broad of a subject scope.
Find a niche that you feel comfortable researching and writing about and online products that can support your niche through affiliate marketing (or by creating your own e-products).
5. Am I Relatively Comfortable in Dealing With New Software?
You don’t have to be a software engineer to feel comfortable here folks! If you get “the vapors” thinking about taking on software related to blog/online business, PLEASE DON’T!
Can Be Very User-Friendly!
Nowadays, the tools created by the companies that provide us with website creation, web hosting, e-mail, and e-mail marketing have made things very user-friendly! The really good companies provide digital and phone assistance to help us out.
Below are three excellent resources to start your online business journey:
- WordPress.org: I have used this free website builder since 2009 with my first website. WordPress.org is an open-source, excellent website builder that’s so user-friendly! They started in 2003, and have been THE respected source for website building across the globe.
- BlueHost.com: As my web host provider, BlueHost.com works extremely well with WordPress.org. Since 2003, Bluehost is a leading web hosting solutions company. for $3.95 per month for a 3-year term (as of this writing), they offer:
- Easy step-by-step setup
- Free Domain Name for the 1st Year
- Free 24/7 lifetime support
- WordPress total design freedom
- Constant Contact: Since 1995, Constant Contact has been at the forefront of email marketing for businesses of all sizes! I chose Constant Contact (as of this writing, the basic subscription, which I use, is $12.00 per month) because of its excellent reputation. They also have tutorials, good customer service, and additional tools (some at cost) to help you with your email campaign strategy to grow your business!
6. Am I Aware That An Online Business (or Any Business!) is Not Going to Be An Overnight Success?
This is not a “get-rich-quick” endeavor…IT’S A BUSINESS. With anything worthwhile, it takes ENDURANCE and PATIENCE. Be patient with yourself and with the process! Typically, 4 to 5 months in, some money will start to come in, and after about 8 months in.
If you’re a one-person operation (like myself), expect anywhere from 1 1/2 to 3 years. Go easy on yourself with any unrealistic expectations. However, this doesn’t mean that with the right niche, focus, and mindset, money may start to flow in a lot sooner!
Here’s The Bottom Line:
If you are comfortable answering these six questions, then GO FOR IT! I’m excited for you to start your online business journey, and wish you all the best!
For Further Reading, Check Out My Other Posts:
Like this post? Sign up here to receive future Abundant Living blog posts!
