What are my 1st 5 actions to get my business started and quit my day job?

Deciding What Business to Do
Keywords & Search Engine Optimization (SEO)
WordPress/blogging
6Comments

1st-5-actions-to-get-my-business-started-1

This question came from my recent survey. It can be overwhelming and confusing when you are working full time and therefore have so little time to build a new business. But quitting your day job might be your dream!

How do you start? Where do you start? How do you make the right decisions?

Where are you starting from?

Your 1st 5 actions will depend on where you are now. If you have no idea what type of business you want–who you want to sell to and what type of products you want to sell–then you have some preliminary work to do.

I have a blog post, What Should I Do?, that will help you.

Let’s assume you’re starting from scratch but have some basic idea of what you know and like. Here are your 1st 5 actions:

  1. Decide on a direction and a strategy
  2. Research keywords and niches
  3. Choose a domain name and web host
  4. Set up a website with WordPress
  5. Decide on a marketing strategy

online-business-sales-funnelWould you like to know what comes after that?

Read More

by Ellen Finkelstein

1 in 4 Americans aged 44-70 dreams of becoming an entrepreneur

Deciding What Business to Do
1Comments

online-business-become-entrepreneur-1Are 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:

  1. Internet technology
  2. Marketing strategy
  3. 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?

  1. Providing services
  2. Customer service
  3. Marketing activities
  4. Bookkeeping
  5. 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!

 

by Ellen Finkelstein