Are you one of them?
Maybe you’re younger — or older — and you also dream of having your own business.
I read this statistic in the Aug-Sept AARP magazine. (Yes, I’m way over 50.) They say that this stat (1 in 4 Americans aged 44-70 dreams of becoming an entrepreneur) is from the Small Business Administration.
Of course, not everyone wants to be an online entrepreneur, but the truth is, starting an online business is one of the quickest and least expensive ways to start your own business. In fact, it’s so easy that many people don’t take the precautions they should — like getting insurance, setting up a legal framework (sole proprietor? LLC? S Corporation?), or even starting a business checking account.
Here in the United States, one of the great advantages is the ease with which you can start a sole proprietorship. Even setting up a corporation isn’t hard, although I recommend a lawyer. I paid about $400 for the initial incorporation documents.
How do I start?
It depends, of course, on what you want to do, how much money you have to invest in the business, and how much risk you’re comfortable with.
If you’re working full time now and don’t feel comfortable quitting your job, you can start part time, working evenings and weekends until your new business is profitable. Yes, you’ll have to put considerable time into it. You’ll need to learn:
- Internet technology
- Marketing strategy
- How to partner with others
You’ll also need to spend time creating your website, blog posts, and maybe videos. You’ll need to develop products and/or services.
And let’s not forget, you’ll need to actually run your business. What’s involved?
- Providing services
- Customer service
- Marketing activities
- Ongoing product development
Are you ready? Or, have you been in the incubation state for months or even years? (I know some people like that.) What is holding you back? Leave a comment!