5 Questions To Ask Yourself Before Starting An Online Business

More and more people are either considering or are setting up a business of their own using the power of the internet. Whilst the prospect of working for yourself sounds promising, if you’re seriously thinking about setting yourself up online, you first need to ask yourself a few important questions before you get started.

The questions below may be somewhat generic, but trust me; there is nothing more confusing than being unsure of why you really want to start an online business of your own.

1. Why do you want to start an online business?

Simple question, often people just plunge into the depth of their dreams and ambitions without truly asking themselves why they really want to do it, in this case why start an online business? Sit down with a pen and paper or look into the mirror and speak to the person standing before you… Why do you want to start an online business?

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It could be for any reason, because you’ve simply have had enough with the mundane life of being a corporate slave, working 9 to 5 for measly pay, or you simply want to fulfill your life ambition of telling your current boss that his company stinks and finally live the dream of working from home, and having more time to spend with your friends and family.

What ever the reason, ensure that you know why you want to start a business online, this will help you set the course to getting off to a great start and of course will help you to become more passionate about what you’re doing to make those dreams a reality.

2. What do you want to start an online business doing?

This may sound like an obvious question, but really there are lots of different types of internet business ideas to consider. The best way to figure out what line of business you want to be in is to evaluate the values and skills you currently possess, and what other skills that you want to progress in?

Here are a few examples: if you’re good at writing and creating content, then consider setting yourself up as a freelance writer, an online journalist or even better, setting yourself up a blog etc. If you’re passionate about photography then why not consider setting yourself up as a wedding or specialist photography website etc. Skills are essential, but passion is even more important.

3. Do you have a plan and how much time can you devote to developing your online business?

Creating an online business plan is absolutely essential, don’t go in blindfolded. So determining how much time you have to invest in the development of your online business project is absolutely critical.

Time factor is important because of several possible factors, it may be that you hold down a full-time job, or you may have other commitments which can and will prevent you from spending time in building and developing to your business on a daily basis.

Essentially knowing how much time you have to devote to developing your business can determine how long the process can take you; it might take you six months, a year or two years even to get your business off the ground.

4. How much money are you willing or able to invest in the development of your online business?

Essentially in many cases you don’t need a great deal of money to start an internet business, but it will hugely help you if you’re able to invest some into the development of you business, and I know this from experience, but money is the lifeblood for rapid development. For example you’ll need a website, you’ll need to pay for web hosting, you’ll need money for marketing and advertising, training an education etc.

Having a steady income such as a full-time work can help you get the ball rolling much faster, but again all depending on your financial commitments.

5. How passionate are you about succeeding?

Finally ask yourself this, how committed are you and how passionate are you about making a success with your online business venture? Your heart needs to be in it 101% into it and nothing less will do.

There is nothing worst than leaving behind a guaranteed stream of income from being in full-time employment, to having doubts whether or not your business will succeed.

You need to be sure that this is what you want to do and probably will do for the rest of your life as well.

Going into business these days whether it’s an online venture or not is a tough enough commitment. Understandably many people believe that now is not a good time to be thinking about leaving work and going into business due to the state of the economy and what have you, but tell me this… when is it ever going to be a good time? Good luck.

Image courtesy of Flickr user: MagneticNorth

  • http://www.successhowto.com Hezi

    Hi, samantha

    Love this. I think that the last question is the most important , you must have a passion about what you are doing !