How To Start A Brand New Business Online: 7 Crucial Decisions To Success

How To Start A Brand New Business Online: 7 Crucial Decisions To Success

So, do you feel like you're ready to start your new online business? Well do you know where you need to start to dramatically increase your chances of launching a successful Enterprise? pay attention to these 7 vital steps to starting a successful online business.

These steps are here to help you start your successful business, because for many people, especially beginners, starting can be the hardest bit. That is precisely why a lot of businesses are said to fail before even starting!
How is that possible you may ask?
Ask me that question right now, Ade how do a lot of businesses fail before even starting?
Well the simple answer is that you may have the best idea on the planet, or have the best strategy in the universe, but if you cannot implement and adapt your ideas into practice, failure is already imminent.
So how do you actually start an online business properly?
Cha ching!! You can start by following the 7 steps highlighted below sunshine:

Step One: Identify Your context.

Understand your idea and identify what niche it can be part of. Your context defines what your business is about, what is your business.
Do you provide a good or service? A service would be a business that provides cleaning jobs for houses and floors, while a good would be a business that sells clothing and shoes. You can have a business that provides both types of products, as a matter of fact it can be really beneficial for your business, however when starting it is best to begin with one or you will quickly overload yourself. Remember, you want you car to go fast and get you to your location faster, but when it starts going to fast, it becomes increasingly harder to control and you may end up crashing. When it comes to business, this rule applies steady hard and fast, as a matter of fact it applies a lot more in business that anything else.

Step two: Set and understand your short, medium and long term goals.

What do you aim to complete? Set you goals in terms of long term goals (can be in years), medium term goals(can be half years or months) and even short term goals(can be as short as hours or days or weeks). It is best to set a mix of types of goals to stay motivated, a goal can be as simple as completing your initial business plan.
Short term goals can help you stay motivated as they may be easier to achieve imminently and thus give you a sense of accomplishment, while long term goals give you large ideals to aim for and keep you working hard. Medium term goals help you feel an even greater sense of accomplishment as they are major accomplishments but you do not wait as long.

Step three: Express a clear mission statement and your vision statement.

A mission statement Defines what you want to do with your business, what do you want to produce, or what is your cause while a vision statement defines where you want your business to be in the future, what do you see your business as becoming. Now fellow Entrepreneurs may as me, shouldn't your mission and vision statement come before setting your goals?

 Yes, traditionally you would set your mission and vision statements first, and then set your goals based from that. Yes that's fine, however i believe that it can also be very beneficial if your mission and vision statement come after setting your goal as it places less of a pressure on you. If your statements came before your goals, you may find your goals are constricted and limited by what you have defined in your mission and vision statement, thus you may actually not be able to set your goals to suit you and your lifestyle, however when your statements come first it leaves your mind free and allows you to decide clear specific, timely, measure-able and attainable goals.

Step four: Solidify what form your business will take.

Will your business operate in the form of a blog, a YouTube channel, a Facebook page or from a sales platform?


Some people don't know this but yes, a blog a Facebook page and YouTube channels can be businesses. I mean, freaking hell have your heard of the internet!? What do you thin it is just some toy to play mini-clip games or talk to your best girl friends forever!? It is a freaking goldmine you know! These days anything can be a business! As a matter of fact, you should learn to develop the mindset of observing the business value in everything. I talked about this in my article which you can read How To Develop A Money Mindset: 7 Ways Millionaires Think That Others Do Not.

Some forms your business can take include: Blogs, Selling on Platforms like Ebay and Amazon or Shopify( Ebay and Amazon are free but Shopify gives you more control over your business), YouTube Channels, Facebook Pages, Websites, Ebooks, Online Clothing Stores, Software, Multi-user Platforms, online training programs e.t.c.
You should choose your platform while taking the following into consideration:
• What you are more skilled at, are you better at running a website than making videos? If you are better at making the website, then the website wins in this factor. Remember to make it easier for yourself!
• What suits your budget, do you have the money to run your own clothing store, or do you have a very low budget and would rather write Ebooks. That being said, there are several low-cost to no-cost methods of starting you own online clothing business. If you ready this article a week after it has been posted, you are in luck because i will have written an article on how to start your own clothing stores low-cost to no-cost and you can check it out here. If you are reading this article before the link is in place, make sure to subscribe so as to receive a notification when it is completed.
• Which is more suited to you goals, what makes your goal more attainable? If you want to make millions of dollars from your business by two and a half years time, blogging might not be for you, even tho you can earn a high income from it, unless you work extremely hard and extremely smart, it is probably going to take you a while to reach that goal. If you are however really good at doing something and you can create a training program for your customers where they pay $9.99 a week to access a lot of beneficial training, in 52 weeks( a year) you have made $519.50 from each customer. Now imagine being able to recruit 4,000 customers to try this out. Believe me, if you really wanted to you can convince 4,000 human beings to join your training program for your niche out of 7 billion human beings on this planet as long as it holds a lot of value for them. Those 4,000 customers will now go on to make you $2,078,000 in a year, imagine that. Realistically, no matter how great your program is, there will still be people who feel it is not for them so lets say you only make $900,000 and you pay a total of $250,000 in the year for extremely high level software and site maintenance, great domains, and all costs attached to running the program, you still keep $650,000 to yourself. Obviously you must understand this is a lot easier said than done, but the purpose is your goals are easier achieved with some business forms than others.
• What can you actually implement? There's no point in running a YouTube channel if you have no idea how to do a YouTube channel and you're not willing to go all out on learning it. But your sister already has a Facebook page with 200,000 likes and she'd be happy to teach you how to do it, wouldn't this be a lot more efficient?
• What do you have time to do? Do you have a few week off work to write an Ebook and just spend the time you have here and there promoting it later on? Then why not do that? Rather than starting a blog that you have no time to update.

Step five: Take your time to write a well structured plan.

Now that you know what you want to achieve, you need to plan to achieve it. When designing your plan, you need to take into consideration, every four steps you have already completed above. If you stated you wanted to make millions of dollars, using your chosen business form, in your niche, with your chosen context, how do you do that with your selection? You need to have a plan that you can follow. Sometimes you learn a lot from going into business blindly, but if maximizing your chances of success is your desire, then you will want a plan. Ensure you place a marketing strategy in you plan as well, because if no one sees your products or services, the money you have in you account could quickly become negative $$$, that being said I don't believe in burrowing debt to start a business unless you are experienced. Another element that you might want to include in your plan is your exit/back up plan. Why do I highlight the word 'might'?
Well I'm the type of person that doesn't like to believe in back up plans, because when there is a back up plan, it is almost as if it is OK to fail. Don't get me wrong, failing is OK if you learn and grow stronger from it, but for some people, they simply allow themselves to succumb to failure simple because there is little to no consequence for doing so. But in the end, it is up to the individual, some people may already have a will to succeed so powerful that a back up plan doesn't really affect them negatively, while others lose their morale at the sight of a back up plan. Generally these are the people that love the "security" in a paycheck.
However, an exit plan may also be a hard working individual's way of minimizing losses or keeping profits if the business fails anyway, so it is up to an individual's self assessment whether to create one or not.

Step six: Finally the tougher but even more rewarding part, execute the plan!

Your new business is ready to be launched, execute the operation, acquire materials, capital, human resources and anything else you need and get to work. It is best to somehow record statistics of what is going on in your new business. You can measure statistics with YouTube, Facebook, blogs and websites by using Google Analytics, and create your own documentations. A lot of your preparation in the previous five steps can help a lot here, remember, train hard to fight easy. And remember to start strong, hit you market hard and grow asap, but make sure it is at a speed you can keep up with.

Step seven: Analyse, Evaluate and Modify.

This is the stage where you want to analyse your business using statistics and documentations that you have gathered, Evaluate your progress and Modify your plans and strategies. Be strict on this, Don'try to talk up your results and give yourself false hope, remember Analytics and documentation DO NOT LIE. Don't make excuses, if something is not working, you need to make it work. Always judge your results and profits slightly lower than they are, and over estimate what funding you will need with your modification.
Work Hard, Stay Focused and Succeed.
Be an Entrepreneur
Thank you and good-luck!