Now that you know why you want to create an online business and you know what you need to do – the next question is how! How are you going to make the transition from home business wannabe to home business hero (or heroine)!
This is the point that I started at in my last series on building an online business. It all starts with a plan. One of the reasons you need a plan is so that you can check the numbers – after all, business is a numbers game – and the other reason is so that you can celebrate your successes.
Let me explain that in a little more detail. One of the (many) mistakes I made when I first started my home business was that I bought products and courses and then put some pages up and crossed my fingers. I didn’t know what my monthly costs were and I didn’t know what my monthly income was. Because I didn’t track the costs it meant that I didn’t know how much I needed to earn in order to be in profit. I really missed out on one of the most exciting parts of a work at home business – being able to see the income increasing and being able to accelerate the increase by concentrating on the things that worked. Given that I wasn’t tracking anything, there was no point at which I actually *knew* what worked.
Let’s not make that mistake again!
Calculating the monthly costs and the amount that is needed in order to be in the black is easy. Let’s take a typical example.
Domain cost: $10/yr
Web Hosting Cost: $10/mth
That’s pretty much how the expense sheet looks when you start your first online business. We can now say that the annual projected cost of our business is going to be $130. In order to be in profit for this business we will need to earn $10.83 each month. That’s not much and that’s why building a home business is so much fun – it’s very easy to get into profit and relatively easy to continually grow that business each month.
Now that you know the numbers, the other important part of ‘how’ is two words – take action. Yes, I know, it’s been said by thousands of Internet marketers but seriously, if you don’t learn everything you are told to learn and you don’t do everything you are told to do, how can you expect the outcome to be ‘as advertised’?
The unwillingness to take action isn’t restricted to Internet marketing. I was listening to Jim Rohn a while back and he mentioned how you can have two people who attend the same seminar. At the end, one person will walk out saying ‘this is going to really change my life’ and the other person will say ‘Rubbish. I’ve heard it all before’. Why is that? We don’t know and it’s not worth spending time trying to figure it out – but one things is for sure. The action takers are far fewer in number than the non-action takers!
So be prepared to put the time in learning and then practicing everything you learn. You’re not going to get rich sitting in front of the television every night!
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