Questions to Ask Yourself Before Starting an Online Business
Everyone wants to start an online business nowadays and ensure their share of the online income pie. I receive approximately 10-15 mails and contact requests each month from wannabe entrepreneurs eager to get information about online business ideas.
What My Readers Want to Know About Online Business
I reply to all of my readers who mail me and try to answer them in detail, but it seems that my answers are not exactly what they are looking for. Almost all of them expect me to answer with a ‘yes’ or ‘no’ regarding an online business idea they propose. And they also expect me to suggest a better alternative in case my answer is ‘no’.
For example, they write to me saying, “Hi, Dr. Kavita. I am thinking of starting a blog and earning money from it. I want you to help me.” When I reply saying that it is better that they take a decision after reading through my articles in ‘small business’ and ‘home based business’ categories, they get impatient.
The next message that I get from them usually goes like this. “I can see that you are making money via blogging, so I decided to do the same. But you say that it is better to review other options as well, so I am not so sure anymore; what other business can you suggest?”
My next reply is focused on trying to reason with them about the importance of studying the online markets, doing a lot of research, reading a lot of information related to business in general and of course reviewing the 50+ different online business ideas that I have already suggested via my past articles etc. But they still reply with the same message asking me to suggest a good online business idea for them.
Reason for this Post on Questions About Online Business
After numerous such interactions and failed attempts at getting my message (and of course well-meant counsel) across to my beloved readers whom I genuinely want to help, I decided to come up with this detailed post on questions that every wannabe entrepreneur should ask themselves before planning to take their business online.
# 1- Have I Chosen the Right Online Business?
This is not only the first but also the most crucial question that you should ask yourself before plunging in. Blogging may be a wonderful money making model for many online entrepreneurs, but is it really for you?
What made you choose this online business idea? Are you going for it just because you read about 3 / 4 other entrepreneurs who are successfully making money with it? Or are you confident that it will work for you as well?
# 2- Do I Have a Business Plan?
If you are a regular reader of my blog, you already have read my post on the importance of having a proper business plan. In case you missed it last time, just click on the link and make sure that you read it to know why your online business should have a business plan.
# 3- Can I Compete with Rapid Developments?
When you are planning to generate an online income, you should know that you are actually competing with lightning fast developments in technology. There are a million different new things to learn and adapt yourself to, with each coming day.