Step 1: Choosing your business name
Ok, I’m assuming you’ve done what I laid out in the introduction as far as coming up with a business idea and model and you think you are onto a winner. Now the fun begins. (Note: heavy sarcasm). The first thing you need to do is decide on a good name for your business. You…
Being inspired – patterns of success
I’ve talked a lot now about the getting the idea. One thing you have to look at to be successful is how other people became successful. In generic terms – find someone or some business you really admire (for the right reason – because it interests you AND it made money, not just because it…
Step 3 – Be Flexible
Don’t go into business thinking you know exactly what that business is going to do. The fact is that once you start trading and getting feedback from customers and seeing how your sector really operates odds are you will see signs of where you’d best fit. Don’t ignore signs to change Go where the market…
There is a whole world out there
The internet, and internet businesses, are decidedly America-centric. But, as most of us (i.e. the vast majority of the world’s population that doesn’t live in America) know that there is a whole world out there. Don’t Forget About the Rest of the World! The best thing about American businesses is that you can ‘adopt’ a…
Do What You Love – an example
Recently I read a great interview on JetSetCitizen.com. This is an interesting site that talks about people who are trying to create a business that will let them travel the world while still making (preferably a huge) income. Whether they intend to or not they prove just how difficult this is – on many levels.…
Step 2 – Fill a need
So we’ve covered step 1. Your business should stem from something you love, passionately. The next step is really to figure out what to do. And I believe that comes from discovering a need. Not a ‘nice to have’ but a real need. A gap in the market. How to discover this? I won’t say…
Step 1 – The idea
One note about this site. I am not talking about starting one of the ‘I make x in a year through online passive income’ type websites. That isn’t a business. I am talking about starting a company that will provide a service to local and perhaps international customers on an ongoing basis. A lot of…