Tuesday, August 10, 2010

The Truth About Building an Online Business

The Truth About Building an Online Business

Working from home with your own business can have some serious benefits. Wake up when you want, stay home all day in your pajamas, and still make money. Just do a few hours of work on the computer, and you will be set; start earning income in the six figures within a few months.

Does that sound too good to be true? It is. Many people have high expectations for their online business only to discover that it isn't as easy as it looks. Instead of sleeping in and working in your pajamas, for the first few months (or a year) you will still be working your day job, rushing home to spend hours on the computer, stay up all night long with your online business, wake up in the morning and rush off to your day job again. It can truly be difficult starting up a business online, as well as costly and time-consuming. However, if you can make it, the rewards are endless.

The first, and perhaps most important, aspect of running your own home business is to find something you believe in-a product or service that you truly believe you can provide for your customers at a price that benefits the both of you. For one woman, this was selling baby products and accessories online. Because she truly believed in her business, and put forth the effort to market her products, she can now boast an annual six figure income. Though difficult, it is possible to run a successful home business and get a good return.

Before beginning your venture as an online entrepreneur, it is important to have a business plan, which will be a foundation for your business. In this business plan you need to set specific goals for your business as well as methods to reaching those goals. This shouldn't be a very large document, twenty pages at most, and should be updated annually as well as reviewed monthly to keep you on track.

Once you have a website set up, and a product, and a business plan, you are ready to make millions! Right? Not quite, actually. Even if you have the most spectacular product since sliced bread, if no one knows you have it, the business will be going no where. You need to begin directed huge amounts of traffic to your site. Why huge? Because chances are, only about 1% (if you are lucky) of your website viewers will be buyers. If you have millions of viewers, you can earn millions of dollars based on that 1%. But one percent is very little, and unless you have major viewing, your business will be stuck.

You can direct traffic to your site using one of many methods: affiliate programs, back-linking, Google AdSense, and advertising. Tell your friends, family, and colleagues about your business and let them help you expand your business. Everyone starts small, but with determination, you can make it big.

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