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9 Things You Need To Know Before Starting Your Online Business - Business - Nairaland

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9 Things You Need To Know Before Starting Your Online Business by i2know2(m): 1:01pm On Feb 04
My most-prized function on any computer is the “Undo” button.

No matter the mistakes, missteps and indiscretions I make, I know I have the power to go back in the past and make everything right. I wish starting a business had an Undo button.

I can only imagine how much valuable time, money, stress and emotional turmoil I could have saved myself if I knew all these before I started my businesses

I hope the 9 points in this article will save you some regrets.

1) Business ideas are overrated.
I have found that getting a business started is miles ahead of having a brilliant idea that sits squarely in your head. Your business ideas are not valuable until you act on them.

The glory always goes to those entrepreneurs who execute their ideas, and not to those who first had the idea.
Business ideas are overrated unless they’re backed by passionate execution.


2) There are more options to raise capital beyond bank loans.
One of the biggest obstacles startups online entrepreneurs face is access to capital. But I have found that access to capital isn’t always the problem. The real problem is access to information about the options for raising capital.

Beyond banks, startups have a range of options for raising capital including incubators, accelerators, angel investors, business plan competitions, grants from venture capital and investment funds, government programs, and several other options. Learn more about these other options,

3) Nobody owes you anything
The entrepreneurs who actually start a business don’t wait for the government to provide all the policies, programs and infrastructure they need to start a business.

The people who actually get started are those who learn to adapt to their environment and improvise with the limited resources they have. Taking the “nobody owes me anything” mentality puts you in the driver’s seat.


4) It will be hard, so you better love it.
For most businesses, it can take months, or even years, before they turn a profit. What most people don’t realise is that the “waiting period” before the profit comes could be, at once, the most tortuous and rewarding, moments of your journey.

In those periods, it feels like you’re pouring water into a leaking bucket and your initial excitement in your business is thoroughly tested. So, if you’re not going to love it, don’t do it! The good news the period of wait is shorter for online businesses but you need to work just as hard if you want to grow.


5) You have to know when to let go.
According to this study, a whopping 42 per cent of startup businesses fail because their products or services “did not serve a market need.”

There is a considerable chance the market may not want your product. Remember, the market is the ultimate judge. And you must learn to humbly accept its verdict. When the market decides against you, you have to learn to let go. Try a new product or a different strategy.


6) Failing is OK.
When we read the profiles of successful entrepreneurs in glossy magazines and blogs, it’s easy to think they never failed at all.

As a result, a growing number of entrepreneurs personalise their failures and are unwilling to share them because they don’t want to be considered “losers”. Note: Your attempt at starting and growing a business failed. You didn’t fail.
Failure is an event in the past, not a permanent status.



7) The doubts and fears are normal
It often looks like successful entrepreneurs are always sure-footed and fearless people. Nothing is farther from the truth. Business is always about risk. And when you’re taking a risk, you’re bound to experience fear, uncertainty and doubt.

cool Only focus on the one thing that matters in your business
In the beginning, some people focus on getting posh office space in the centre of the city. Some others focus on chasing capital, building a cutting-edge website, stocking up the warehouse, or hiring advertising space on billboards and in newspapers.
But a lot of these things are distractions. There is only one thing that matters: your customer. Before you do anything, ask yourself: How will this get, serve, or keep a customer?


9) The learning never stops.
In the early days of business, most entrepreneurs wear several hats. You’re responsible for hiring, organising your operations, leading the sales efforts, and being the accountant.

The only way to survive this juggling act is to learn. And to keep learning. And even when you’ve reached the dizzying heights of success you dreamed of, the learning still doesn’t stop.

ARTICLE SOURCE

17 Likes 4 Shares

Re: 9 Things You Need To Know Before Starting Your Online Business by sammyscholar(m): 2:48pm On Feb 04
Thanks. Full of insight.

1 Like

Re: 9 Things You Need To Know Before Starting Your Online Business by i2know2(m): 8:42am On Mar 13
want to start making lots of money online? this is the only page you will need to see. CHECK HERE
Re: 9 Things You Need To Know Before Starting Your Online Business by Orishetimi: 5:09pm On Mar 14
John
Re: 9 Things You Need To Know Before Starting Your Online Business by otiwisdom: 5:11pm On Mar 14
Guys since when I saw this picture I have been confuse

1 Like

Re: 9 Things You Need To Know Before Starting Your Online Business by bluefilm: 5:11pm On Mar 14
Nonsense sad
Re: 9 Things You Need To Know Before Starting Your Online Business by i2know2(m): 5:11pm On Mar 14
Orishetimi:
John

space booker who is john smiley ?
Re: 9 Things You Need To Know Before Starting Your Online Business by i2know2(m): 5:12pm On Mar 14
Re: 9 Things You Need To Know Before Starting Your Online Business by Orishetimi: 5:17pm On Mar 14
i2know2:


space booker who is john smiley ?
My brother is not a something oh,it is ordinary k I wanted to type to book space but my phone keypad auto correct is now dragging words with me as if he was him that bought itself
Re: 9 Things You Need To Know Before Starting Your Online Business by KingOfThePay(m): 5:17pm On Mar 14
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With this You will rather be concerned on having your products in stock all the time so you can keep up with demands.


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Cash on Delivery CPA offers is the new icing on the cake for CPA as the Ecommerce industry is taking over the whole world....Discover how you can start making serious cash with new type of CPA offers selling products all over Asia and Europe without touching, seeing, or inventory on products...

Just Only one of the systems is enough to get you financially established in the long run talk more of the two...so do your calculus

More details and outline of the training will be posted in the group.
Secure your money first and learn. Don't start any venture when you are not grounded with sound knowledge. And besides, you don't need the whole 400k to get things kicking for u...

To join the group send an email to Kingofthepay@gmail.com and you will be added...

Training is free no strings attached but still, no nonsense tolerated only serious millionaire warriors
Re: 9 Things You Need To Know Before Starting Your Online Business by yomalex(m): 5:18pm On Mar 14
You need a website for your business check my signature.
Re: 9 Things You Need To Know Before Starting Your Online Business by i2know2(m): 5:19pm On Mar 14
Orishetimi:
My brother is not a something oh,it is ordinary k I wanted to type to book space but my phone keypad auto correct is now dragging words with me as if he was him that bought itself


hhh may be it was just trying to tell you that though you bought me but i can do as i please now grin
Re: 9 Things You Need To Know Before Starting Your Online Business by Pridestorm: 5:20pm On Mar 14
Thanks Op!

Still compiling insights that help me before I dive into my own online business.
Re: 9 Things You Need To Know Before Starting Your Online Business by Houseofglam7(f): 5:23pm On Mar 14
True that
Re: 9 Things You Need To Know Before Starting Your Online Business by HegenIkomkeh(m): 5:25pm On Mar 14
Nice one Op.
bluefilm:
Nonsense sad
Read to understand,not to react.
Re: 9 Things You Need To Know Before Starting Your Online Business by jericco1(m): 5:31pm On Mar 14
very good
Re: 9 Things You Need To Know Before Starting Your Online Business by biosilicon: 5:38pm On Mar 14
i2know2:
My most-prized function on any computer is the “Undo” button.

No matter the mistakes, missteps and indiscretions I make, I know I have the power to go back in the past and make everything right. I wish starting a business had an Undo button.

I can only imagine how much valuable time, money, stress and emotional turmoil I could have saved myself if I knew all these before I started my businesses

I hope the 9 points in this article will save you some regrets.

1) Business ideas are overrated.
I have found that getting a business started is miles ahead of having a brilliant idea that sits squarely in your head. Your business ideas are not valuable until you act on them.

The glory always goes to those entrepreneurs who execute their ideas, and not to those who first had the idea.
Business ideas are overrated unless they’re backed by passionate execution.


2) There are more options to raise capital beyond bank loans.
One of the biggest obstacles startups online entrepreneurs face is access to capital. But I have found that access to capital isn’t always the problem. The real problem is access to information about the options for raising capital.

Beyond banks, startups have a range of options for raising capital including incubators, accelerators, angel investors, business plan competitions, grants from venture capital and investment funds, government programs, and several other options. Learn more about these other options,

3) Nobody owes you anything
The entrepreneurs who actually start a business don’t wait for the government to provide all the policies, programs and infrastructure they need to start a business.

The people who actually get started are those who learn to adapt to their environment and improvise with the limited resources they have. Taking the “nobody owes me anything” mentality puts you in the driver’s seat.


4) It will be hard, so you better love it.
For most businesses, it can take months, or even years, before they turn a profit. What most people don’t realise is that the “waiting period” before the profit comes could be, at once, the most tortuous and rewarding, moments of your journey.

In those periods, it feels like you’re pouring water into a leaking bucket and your initial excitement in your business is thoroughly tested. So, if you’re not going to love it, don’t do it! The good news the period of wait is shorter for online businesses but you need to work just as hard if you want to grow.


5) You have to know when to let go.
According to this study, a whopping 42 per cent of startup businesses fail because their products or services “did not serve a market need.”

There is a considerable chance the market may not want your product. Remember, the market is the ultimate judge. And you must learn to humbly accept its verdict. When the market decides against you, you have to learn to let go. Try a new product or a different strategy.


6) Failing is OK.
When we read the profiles of successful entrepreneurs in glossy magazines and blogs, it’s easy to think they never failed at all.

As a result, a growing number of entrepreneurs personalise their failures and are unwilling to share them because they don’t want to be considered “losers”. Note: Your attempt at starting and growing a business failed. You didn’t fail.
Failure is an event in the past, not a permanent status.



7) The doubts and fears are normal
It often looks like successful entrepreneurs are always sure-footed and fearless people. Nothing is farther from the truth. Business is always about risk. And when you’re taking a risk, you’re bound to experience fear, uncertainty and doubt.

cool Only focus on the one thing that matters in your business
In the beginning, some people focus on getting posh office space in the centre of the city. Some others focus on chasing capital, building a cutting-edge website, stocking up the warehouse, or hiring advertising space on billboards and in newspapers.
But a lot of these things are distractions. There is only one thing that matters: your customer. Before you do anything, ask yourself: How will this get, serve, or keep a customer?


9) The learning never stops.
In the early days of business, most entrepreneurs wear several hats. You’re responsible for hiring, organising your operations, leading the sales efforts, and being the accountant.

The only way to survive this juggling act is to learn. And to keep learning. And even when you’ve reached the dizzying heights of success you dreamed of, the learning still doesn’t stop.

ARTICLE SOURCE

Brilliant article. Keep it up and remember to follow your own advice.
Re: 9 Things You Need To Know Before Starting Your Online Business by bluefilm: 5:42pm On Mar 14
HegenIkomkeh:
Nice one Op.
Read to understand,not to react.

Shut up.

What else do you want me understand from such an arrogant write-up?
Re: 9 Things You Need To Know Before Starting Your Online Business by pahoehoe: 6:15pm On Mar 14
i2know2:
My most-prized function on any computer is the “Undo” button.

No matter the mistakes, missteps and indiscretions I make, I know I have the power to go back in the past and make everything right. I wish starting a business had an Undo button.

I can only imagine how much valuable time, money, stress and emotional turmoil I could have saved myself if I knew all these before I started my businesses

I hope the 9 points in this article will save you some regrets.

1) Business ideas are overrated.
I have found that getting a business started is miles ahead of having a brilliant idea that sits squarely in your head. Your business ideas are not valuable until you act on them.

The glory always goes to those entrepreneurs who execute their ideas, and not to those who first had the idea.
Business ideas are overrated unless they’re backed by passionate execution.


2) There are more options to raise capital beyond bank loans.
One of the biggest obstacles startups online entrepreneurs face is access to capital. But I have found that access to capital isn’t always the problem. The real problem is access to information about the options for raising capital.

Beyond banks, startups have a range of options for raising capital including incubators, accelerators, angel investors, business plan competitions, grants from venture capital and investment funds, government programs, and several other options. Learn more about these other options,

3) Nobody owes you anything
The entrepreneurs who actually start a business don’t wait for the government to provide all the policies, programs and infrastructure they need to start a business.

The people who actually get started are those who learn to adapt to their environment and improvise with the limited resources they have. Taking the “nobody owes me anything” mentality puts you in the driver’s seat.


4) It will be hard, so you better love it.
For most businesses, it can take months, or even years, before they turn a profit. What most people don’t realise is that the “waiting period” before the profit comes could be, at once, the most tortuous and rewarding, moments of your journey.

In those periods, it feels like you’re pouring water into a leaking bucket and your initial excitement in your business is thoroughly tested. So, if you’re not going to love it, don’t do it! The good news the period of wait is shorter for online businesses but you need to work just as hard if you want to grow.


5) You have to know when to let go.
According to this study, a whopping 42 per cent of startup businesses fail because their products or services “did not serve a market need.”

There is a considerable chance the market may not want your product. Remember, the market is the ultimate judge. And you must learn to humbly accept its verdict. When the market decides against you, you have to learn to let go. Try a new product or a different strategy.


6) Failing is OK.
When we read the profiles of successful entrepreneurs in glossy magazines and blogs, it’s easy to think they never failed at all.

As a result, a growing number of entrepreneurs personalise their failures and are unwilling to share them because they don’t want to be considered “losers”. Note: Your attempt at starting and growing a business failed. You didn’t fail.
Failure is an event in the past, not a permanent status.



7) The doubts and fears are normal
It often looks like successful entrepreneurs are always sure-footed and fearless people. Nothing is farther from the truth. Business is always about risk. And when you’re taking a risk, you’re bound to experience fear, uncertainty and doubt.

cool Only focus on the one thing that matters in your business
In the beginning, some people focus on getting posh office space in the centre of the city. Some others focus on chasing capital, building a cutting-edge website, stocking up the warehouse, or hiring advertising space on billboards and in newspapers.
But a lot of these things are distractions. There is only one thing that matters: your customer. Before you do anything, ask yourself: How will this get, serve, or keep a customer?


9) The learning never stops.
In the early days of business, most entrepreneurs wear several hats. You’re responsible for hiring, organising your operations, leading the sales efforts, and being the accountant.

The only way to survive this juggling act is to learn. And to keep learning. And even when you’ve reached the dizzying heights of success you dreamed of, the learning still doesn’t stop.

ARTICLE SOURCE
Cl lick on the second link on my signature for a better way of running an online business.
Re: 9 Things You Need To Know Before Starting Your Online Business by meromero11: 6:20pm On Mar 14
otiwisdom:
Guys since when I saw this picture I have been confuse

See another man's eyes showing under the mattress grin grin grin
Nah straight death be that.
Re: 9 Things You Need To Know Before Starting Your Online Business by Roon9(m): 6:21pm On Mar 14
Apt and straightforward OP. As an Entrepreneur I have discovered that for service providers, the ability to outwit (scam, mostly by over quoting) prospective customers is an important attribute that one must learn...I'm really at a loss figuring why that is
Re: 9 Things You Need To Know Before Starting Your Online Business by Hedonisst: 6:44pm On Mar 14
Roon9:
Apt and straightforward OP. As an Entrepreneur I have discovered that for service providers, the ability to outwit (scam, mostly by over quoting) prospective customers is an important attribute that one must learn...I'm really at a loss figuring why that is
Lol. Tell me more about that.
Re: 9 Things You Need To Know Before Starting Your Online Business by updatedws: 6:51pm On Mar 14
Boss you2know true true

amazing piece

Meanwhile, pls visit my site to get latest scholarship uodates
www.westernscholars.com
Re: 9 Things You Need To Know Before Starting Your Online Business by salesforce: 7:50pm On Mar 14
good.this is I earned money daily trading binary options volatility indices using this method I found on you. watch video on youtube using link in the image.all steps to follow is stated in the video description on youtube.

thank me later !

Re: 9 Things You Need To Know Before Starting Your Online Business by highbeeola(m): 8:00pm On Mar 14
Delivar:

If those things are so lucrative why are you looking for people to pay you for a course? Why are you not rich by trying them out? grin
Dangote
Dangote still dey find e money. grin
Delivar:

If those things are so lucrative why are you looking for people to pay you for a course? Why are you not rich by trying them out? grin
Dangote
Dangote still dey find e money.
Re: 9 Things You Need To Know Before Starting Your Online Business by Bigjp(m): 8:25pm On Mar 14
Buy ur mtn data @ #550 for 1 GB. https://wa.me/2347062399380. Other networks data are available with TV subscription.
Re: 9 Things You Need To Know Before Starting Your Online Business by Julietcutie(f): 8:52pm On Mar 14
otiwisdom:
Guys since when I saw this picture I have been confuse
Observe that area the fan wire is well
Re: 9 Things You Need To Know Before Starting Your Online Business by Justnice11: 8:55pm On Mar 14
Re: 9 Things You Need To Know Before Starting Your Online Business by loomer: 8:27am On Mar 15
Delivar:

If those things are so lucrative why are you looking for people to pay you for a course? Why are you not rich by trying them out? grin

The one wey dey tire me na my username wey dey attached to the post.

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