Starting Your Own Business Online – The 5 Gold Rules

If you want to start your own business online, you should do it following a proven set of rules in order to avoid the mistakes done by the majority of new internet entrepreneurs. This set of rules is not a magical formula that will make you millionaire overnight or become fabulous rich in a few months.

Nevertheless, this set of rules allows you to setup an online business that will create value for you and for your customers and will let you create a stable and long-term source of income.

Before I tell you about the five rules that allow you to start a journey to a successful online business, you must understand that starting a business online is simple but it is not easy.

What I mean with this last statement is that a business online, in general, follows a very, very simple business model:

  1. You setup a website with your offer (products or services);
  2. You drive traffic to your website;
  3. Some of your visitors are interested in what you are offering, becoming your prospects;
  4. Some of your prospects buy from you, becoming your customers;
  5. You can send, later, other offers to your customers.

As you can see, it is a very simple business model, but for having success, you must realize that for each of the previous steps there are some skills, techniques, and knowledge that you must acquire either by learning yourself or by working with someone with the knowledge required.

To get the necessary knowledge on how to implement and optimize the tasks listed above, you can find plenty of information on the internet, free or paid, that will help you to achieve the results you want.

Regardless you do it by yourself or you pay someone to do it, it is important to acknowledge that all of those steps are just tactical, not strategic. Moreover, they are what a great number of internet marketers will try to sell you. However, what are they good for if you don not have a strategy?

I want to present to you the gold rules that you must use to build your business strategy. Once you have your strategy in place, the tactical tasks will surge naturally in the right time.

  1. Know your market;
  2. Prepare your offer;
  3. Create a business plan;
  4. Identify the resources;
  5. Know your numbers.

In summary, these are the five gold rules: Market, Offer, Plan, Resources, and Measure. You should do them in the given order. Unfortunately, the majority of online entrepreneurs start their own businesses online jumping over the first rule. Several do not observer rule number three. In addition, some others go directly to rule number four. Very few are aware of the critical importance of rule number five.

You understand now why so many people fail when they start a business online. Because the model is simple, people tend to forget that is does not means it will be easy. It is a business; you must treat it like any other business.