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The Challenges of being an Online Entrepreneur

The Challenges of being an Online Entrepreneur

Being an online entrepreneur requires more than just a website or blog where you gain revenue from ads. If you want to grow your business, you have to be ready for anything. This means being ready for small victories and huge setbacks. This also means having to focus on tasks like branding your business and finding ways to fulfill orders. As an online entrepreneur, you will be faced with decisions that involve building your market, expanding your connections, and making yourself more accessible to customers. If you’re ready to meet these challenges head on, then you’ll be successful as an online entrepreneur.

  1. You may win some, and you may lose some

Starting and building a business from the ground up are difficult endeavors, full of challenges along the way that you might not have ever expected. These challenges require decisions, and these decisions sometimes involve a dilemma, where a win-win outcome is not immediately recognizable.

When faced with a decision where none the choices appear to have a clear or foreseeable advantage, many entrepreneurs find it necessary to do some soul searching and self-reflection from a company standpoint. One of the hardest things is to analyze your business objectively, candidly identifying the flaws and problem areas that are holding you back.

Sometimes it helps to gain some outside perspective. Hiring a human resources company or efficiency expert to help streamline your operations may be helpful in finding out what your true strengths are. Do you have the appropriate company culture? It’s important that from the top down, the work environment reflects the results you want. How well do you understand the market you serve? You need to know your product and niche market inside and out, and a lot of the time, this comes with trial and error. Some of the decisions you need to make will be based on limited information at best, so being flexible will help you survive.

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2. Incorporating Data To Track Performance

Incorporating data simply means doing the math and crunching the numbers, and making a habit out of it. The numbers can be conversion rates, bounce rates, traffic percentage breakdowns and other pertinent, technical analysis. It can be a tedious job, but one of the most important tasks to internalize.

Online entrepreneurs that analyze the pertinent data, get insights from analytics, and act accordingly are the ones that perform well and ultimately become successful. Checking the metrics to focus on your business growth is what separates the successful from their failed comrades.

Track your data on a spreadsheet or whiteboard, showing a week-by-week difference in performance. This gives you some perspective of time, helping you and your team to understand what to prioritize.

3. Learning To Market Properly Online, Making Your Brand Cool As Hell

Be enthusiastic and passionate about your brand, products, and services. Your products reflect the energy that you’ve put into your work, and in turn, this fuels your energy to be more productive. For example, you may not notice it, but using the right fonts for your brand logo really helps when it comes to attracting your target customers. Keep an eye when it comes to details.

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Marketing and advertising tasks take a lot of time for research, so manage your time wisely. Research is a crucial step—get to know the other players in your niche industry, and see what they’re doing right as well as what they’re struggling with.

When the time comes, choose the right platform for your online business, one that offers the features you need while giving you access to the market that can most benefit from your offerings.

Be sure to promote your brand, engaging in paid advertising as needed, and keep tabs on whether doing this actually increases profits, or amounts to an unnecessary expense.

Get to know your market, its demographics, and their associated and outside interests. Appeal to them at several different levels to win them over.

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4. Competition and Choosing Your Allies

Because of low entry barriers and relatively easy access to funds, competition among online entrepreneurs is tougher than ever.

Many online entrepreneurs have a great idea in their heads, only to discover that someone has already beaten them to the punch. Hopefully, you’re the one dishing it out, not taking the blow. There will be others trying to reverse engineer your product and sell their product to your potential market. This is your chance to outshine them.

By complementing existing products of other companies, you position yourself as a partner or a collaborator, rather than a rival. This means choosing your battles wisely, which allows you to thrive, especially when dealing with someone in your industry who has a far greater following than you’ve got.

5. Security And Computer Knowledge (Or Lack Thereof)

Let’s be frank, if computer literacy is not your strong point, do something about it fast. Internet technology is showing no signs of letting up. Software is becoming even more sophisticated, and waiting around is not an option. At the very least, learn some online skills, or work with an IT professional to get up to speed.

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Security is essential for running an e-commerce site, meaning you need to monitor your security measures round the clock, and invest in reliable servers and networking hardware. One slip-up can spell disaster for your company’s credibility, so be vigilant.

6. Driving and Converting Traffic

There are many ways to drive traffic to your website, from promoting it via Google Adwords and Pay-Per-Click advertising, and writing natural, organic content. Of course, this requires time, just like many of the other challenges that you face as an online entrepreneur.

Converting traffic into cash is tricky, mostly because your customers, readers and website visitors might not be looking to buy. Integrate the commercial aspect of your website as naturally and unobtrusively as you can. Get to know what your visitors and readers really want by seeing what pages they visit, and which links they follow. Adapt accordingly.

To succeed as an entrepreneur online or as a brick-and-mortar establishment, it’s important to have drive. Learn as much as you can, and develop perseverance to get through the hardships. By overcoming obstacles, you can make it as a successful online entrepreneur.

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Published on June 5, 2018

Is It Time for a Career Change? Find Your Answer Here with These Steps

Is It Time for a Career Change? Find Your Answer Here with These Steps

Are you challenged at work? Do you regret career decisions? Are you happy? If the answer to the questions leads to a negative feeling, it is time to determine next steps.

Many people settle for a career that no longer brings satisfaction. Most will respond by stating, “I am surviving” if a colleague asks them “How’s work?”

Settling for a job to pay bills and maintain a lifestyle is stagnation. You can re-direct the journey of a career with confidence by taking control of future decisions. After all, you deserve to be live a happy life that will offer a work-life balance . Let’s look at the reasons why you need a career change and how to make it happen for a more fulfilling life.

Signs that you need a career change

The challenges of dissatisfaction in a career can have a negative impact on our mental health. As a result, our mental health can lead to the obvious appearance of stress, aging, weight gain and internal health issues.

You deserve a career that will fulfill the inner desire of true happiness. Here are common factors that it is time for you to change your career.

Physical signs

Are you aging since you started your job? Do you have anxiety? What about work-related injuries?

It feels amazing to receive a pay cheque, but you deserve to work in an environment that brings out the best of you. If the work environment is hazardous, speak to your boss about alternative options.

In the case that colleagues or your boss take advantage of your kindness, feeling the anxiety of fear of losing your job because of a high-stress environment may not be right for you.

Mental signs

One out of five Americans has mental health issues, according to Mental Health America.[1] In most cases, it is related to stress.

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I remember working at a job in a work environment where harassment was acceptable. I had to walk on eggshells to avoid crossing the line with colleagues. My friends started to notice the difference in that I seemed out of character. It was then that I knew that changing a career to freelancing was the right decision.

Here is a list of mental signs of workplace unhappiness:

  • The tension in your neck
  • Difficulties with sleeping
  • Unable to concentrate
  • High anxiety
  • Depression

If you start to feel your self-esteem is diminishing, it is time to consider if working in a high-stress industry is for you. The truth is, this negative energy will be transferred to people in your life like friends and family.

Why a career change is good for you

I have a friend that works in the medical industry. She was once a nurse working directly with patients in one of the top hospitals in her area. After five years, she started to internalize the issues with her patients to the point where she felt depressed after work hours. It impacted her relationship with her family and she almost lost herself.

One day, she decided to wake up and take control of her destiny. She started applying for new medical jobs in the office. It meant working on medical documentation of patients which is not an ideal career based on what society expects a medical professional to perform. But she started to feel happier.

It is a classic example of a person that was negatively impacted by issues at work, stayed in the same industry but changed careers.

A career change can fulfill a lifelong dream, increase one’s self-esteem or revive the excitement for one’s work.

You know a career change can be the right decision to make if you experience one or all of these:

  • Working in a negative workplace: Don’t be discouraged. A negative workplace can be changed by working at a new organization.
  • Working with a difficult boss: The challenges of working with a difficult boss can be stressful. All it takes is communication. You can address the issue directly with a manager professionally and respectfully.
  • Feeling lost about what you do: Most people stay at their jobs and settle for mediocrity because of the fear of failure or the unknown. The rise to success often comes with working a tedious role or stepping outside of one’s comfort zone. If you fear the idea of being involved in activities that are new, remember that life is short. Mediocrity will only continue to make you feel as if life is passing you by.

Common mistakes of people making a career change

Most people that feel they need a career are frustrated with their situation at work. What is your situation?

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  • Desire for an increase of salary: The desire for a higher income can persuade some to believe they are in the wrong career. The issue with this is more money requires more time in the office or taking on several positions at a time. At times, pursuing a high-income role can be the complete opposite of what one is expected. It is what happens when a colleague leaves a company to a new one and returns several years later.
  • Overnight decision: Let’s face it. We make overnight decisions when stressed out or disappointed with situations at work. The problem with a quick decision is the negative and positive points is overlooked.
  • Rejected for a promotion: I have heard stories of managers that applied ten times for a position throughout a 5-year period. Yes, it sounds to be a lengthy process, but at times, a promotion requires time. Avoid changing a career if you do not see the results of a promotion currently.
  • Bored at work: Think deeply about this point. If you work a job that is repetitive, it is normal to feel bored. You can spice it up by changing the appearance of your desk, socializing with new employees in a different department, joining a leadership committee at work or coming to work with enthusiasm. Sometimes, all it takes is you to change jobs into a fun situation.

A career change can take time, networking, education and the job search process can be a journey. Here is a list of things to consider before making a final decision:

  • How long have you worked in your career?
  • What is the problem at work? Do you work well with the team?
  • Do you receive recognition?
  • Can you consider working in a new department?

The reason it is important to think about the work situation is some people decide to change career for factors that are insignificant. Factors that can potentially change if the person works in a different department or new organization. Here is a list of unimportant factors to think about before you decide to make the transition:

Now that you had a chance to review your work situation and none of these recommendations can help, it is time to take the next step.

How to make the change for a successful career (Step-by-step)

The ultimate key to success is to go through a career transition step by step to avoid making the wrong decision.

1. Write a career plan

A career plan has a dead line for action steps that includes taking new courses, learning a new language, networking or improving issues at work.[2] A career plan should be kept in your wallet because it will motivate you to keep pursuing the role.

You can learn how to set your career plan here.

2. Weigh your options

If you have a degree in Accounting, write down five positions in this industry of interest. The good news is diplomas and degrees can be used to a variety of roles to choose.

You don’t have to stick to what society holds a top job, in the end, choosing the right role that will make you happy is priceless.

3. Be real about the pros and cons

It is time to be honest about strengths, weaknesses, opportunities and threats that are impacting the current situation.

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A SWOT Analysis of a career can include:

  • Economic factors
  • Direct competition: Is this role in high demand?
  • Location: Do you need to move? If the goal is to work in tech and living in Cincinnati is not realistic, consider moving to San Francisco.
  • Achievements: To stand out from the competition achievements like awards, committee involvement, freelance work or volunteering is a recipe for success.
  • Education: Do you need to go back to school? Education can be expensive. However, online courses, webinars or self-study is an option.

A career blueprint is the first step to creating realistic goals. A person without goals will be disappointed without a clear direction of what to do next.

4. Find a mentor

A mentor that works in the desired position can share the pros and cons of working in the role. Here is a list of questions to ask a mentor:

  • What is required to be successful in the role?
  • What certification or educational development is needed?
  • What are the challenges of the role?
  • Is there potential for career advancement?

A chat at a coffee shop with a mentor can change your mind about the desire for a career change.

Find out how to pick a good mentor for yourself in this article: A Good Mentor Is Hard to Find: What to Look for in a Mentor

5. Research salary

Some people decide to change careers for a role that pays less or perks like benefits to make up for the difference in previous to potential salary.

It can reveal the cities throughout the country that offer a higher salary for those that have an interest in relocating for work.

6. Be realistic

If your goal is to move up into an executive position, it is time to be honest about where you are in your career.

For example, if boardroom meetings, high-level discussions about financials or attending weekly networking events are boring, an executive role may not be right for you. If you are an introvert and working with people every day is nerve wrecking, you need to reconsider a job in sales.

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Ask yourself if you can work in this role for the next five years of your life. If other benefits that come with the role are enticing, other roles are fit that will make you happy.

7. Volunteer first

A person that wants to become a manager should take on volunteer opportunities to experience the reality of the position.

Becoming a committee member to pursue a presidential opportunity can provide a perspective on leadership, maintaining a budget and public speaking.

Volunteer in a role until you are certain that it is the right opportunity.

8. Prepare your career tools

I recommend asking a boss, colleague or mentor for career tools. If you prefer professional assistance, you can seek out resume writing assistance. Here is a list of things to consider when preparing career tools:

  • Online search: Search your name online to see what shows up. I recommend searching images that are on Facebook, Twitter, Snapchat or other sites on a personal account. The last thing you want to realize is the job search is unsuccessful because there is unprofessional content you posted online.
  • Be LinkedIn ready: Recruiters conduct a LinkedIn search to see if the work experience is the same on a resume. Remember to change the wording on LinkedIn from the resume, or it will appear there was no effort put into creating the profile.
  • Portfolio: A portfolio of work is recommended for people that work in the arts, writing, graphic design and other fields. I recommend a portfolio online and one that is available in hand when attending job interviews or networking meetups.

Final thoughts

It takes time to move towards a new career. Pay attention to the physical and mental signs to maintain your health. You deserve to work in happiness and come home stress-free. If you avoid the common mistakes people make, you will discover the role that is the best fit with your skillsets.

Master these action steps and changing careers will be on your terms to make the best decision for your future.

Featured photo credit: Pexels via pexels.com

Reference

[1]Mental Health America: The State of Mental Health in America
[2]MIT Global Education & Career Development: Make a Career Plan

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