Advertising
Advertising

10 Things I Wish I Knew Before Starting an Online Business

10 Things I Wish I Knew Before Starting an Online Business

Admit it.

You’ve day-dreamed of starting your own business.

And why not?

It’s amazing because you’ll never have to put up with awful office politics. You’ll feel like a powerhouse.

You’ll blur the lines between work and play, and although you will be working more hours than a 9-5 job, you’ll love every second of it.

And here’s another cool thing: Once you start your own business, you’ll never go back to the job-hunting scene. Ever.

Does that send your heart racing? Tickle your fancy?

But here’s the thing: Everyone’s got an entrepreneurial idea – whether it’s a new app that will take off or a shopping website that will blow customers’ minds away.

While these are great goals to have, here’s some harsh truth:

Ideas don’t mean a thing. Unless you convert them into something more tangible.

Your business is that something. It’s real, it’s living, it’s thriving.

There’s a ton of advice of what you should and should not do as you start a new online venture. Whom to believe? Where to start?

Four and a half years ago, I had the same questions that kept me up all night. So I did ton of research, applied all the wrong moves and course-corrected, researched, applied some more and so on.

(Hint: Don’t spend hours on the marketing forums. That’s a time-suck for sure.)

Advertising

Long story short, back then, I had no idea to know whether my action steps were any good. No roadmap to follow. No clue about options that could have made my life easier.

Like they say, you don’t know what you don’t know.

If you’re starting your own business, here’s a letter I wrote myself that will save you the heartache and money. Steal it. Please.

Dear Four-and-a-Half-Years-Younger Me:

So you’re starting a new business. Good for you! You’re going to love every moment. Well, almost.

But don’t haste. Here’s a list of things to follow. Treat this as a prophecy. It WILL come true.

1. Every Little Action Counts

As a new business owner, you’re thinking big results.

That’s good – but don’t forget the power of small steps.

Because even slow progress is progress.

So ease up a bit and take small, effective action steps. Shuffling paper, checking your Google Analytics stats and speaking on phone may appear as effective, but most of the times, you’re better off doing something else.

That something else is “effective action” – you put your 100% at the task in hand. You shut down your browser windows, you log out of Facebook and you quiet your smartphone notifs.

When in doubt, ask: Can I lose myself in this task and feel proud about it?

If the answer is No, stop and find a more effective action task. Don’t worry, you’ll find ample because your to-do list is over-flowing.

2. Be Super-Productive on Fridays

In a perfect world, you’d never work weekends.

As an entrepreneur though, it’s hard to paint a black and white picture of your work schedule.

Advertising

Still, it’s a no-brainer to take some days off. But how?

Be super-productive on Fridays. If there’s any backlog of work from the week, tick it off before your workday ends and weekend begins, which means before Friday evening.

It’s hard to relax if you have procrastinated on some important tasks. You feel guilty and unproductive, and your work sneaks into your weekend.

Get into a habit of making your Fridays super-productive.

3. Build a Relationship – One at a Time

Know the number one rule of networking?

First, seek to help.

Met someone on a forum, LinkedIn, or in the comment section of a blog? Learn more about this person. Get curious about them and their business. It’s a harmless, genuine goal.

Then add value by sharing a useful article or a tweak, or give feedback. They may or may not do business with you, but that’s irrelevant.

4. Keep a Tab on How Leads Find You

Right now, you don’t care how leads come to you. You’re happy to have their business and in your kid-in-a-candy-shop-like excitement, you forget to ask a simple yet powerful question.

Where did you find out about me?

This is pretty critical in your marketing mix.

After all, if you don’t keep a tab of your best channels, how are you supposed to leverage them?

Keep an excel sheet listing out who found you where: Was it a referral? Was it via LinkedIn? Was it through a networking meetup? Did Google send them to your website?

The 80-20 rule applies – 80% of your revenue will come from 20% of sources, so naturally you pay special attention to these channels and spend more time marketing on them.

Advertising

Trust me, having that kind of knowledge about your sources is gold. If it’s not obvious or you can’t figure it out yourself, ask your clients where they learned about you.

Business and analysis go hand in hand, so it’s smart to monitor all your business data in one place with tools such as Cyfe.

5. Start an Email List – Pronto!

You still don’t have an email list? You must really hate money. Tsk tsk.

Wait, you have an email list but you’re not sending regular juicy content, and helping your prospects live a little better life with each message? You’re leaving a lot on table.

Start an email list from day zero.

Jon Morrow suggests that before you even launch a blog, you can have a “coming soon” page and capture leads. You don’t have to do anything fancy – just installing a free theme like LaunchEffect will do.

Set up an autoresponder series for your leads and share great content. A good practice is to send three content-based emails for one promo/sales-based email.

Offer a freebie (also known as a Lead Magnet) in exchange for their email. Do this, pronto!

6. Invest in Yourself

That $250 course by the genuine online marketer? Snag it. It will take you places.

That monthly blogging membership course from a problogger? Yes, take that too.

When it comes to investing in yourself, trust your gut instinct about the “guru”.

7. Done is Better than Perfect

Stop mulling indefinitely, create it already! It will take discipline, time and focus, but it will be worth it.

Yes, that includes your Kindle books and the membership website.

8. Be Prompt with Email Responses

Be prompt with enquiries. If someone sends you an online enquiry, reply as soon as you see it.

Advertising

This person is desperate for help, and they most likely sent the same inquiry to other providers.

The provider who responds first, initiates a conversation and gets the business. Be that person.

Replying the next day is a dumb move.

9. Don’t Compare Yourself with Those Who’ve Started Five Years Before

It is futile. For starters, you’ll compare the wrong things and your weak points with their best.

Comparison will rob you of focus, motivation and joy.

Lastly, it’s hard to stop it once you start.

A better alternative? Put your head down and get to work. Quit comparing.

10. Start with Service and Move toward Products (Passive Income)

In the beginning, you will have more time than money.

So start with a service. Get acquainted with your client base and get better at your craft.

Sure, it will take more time because you will be working with one client at a time, but you will learn tons about their deepest pain points and biggest aspirations.

You’ll walk a mile in their shoes. You’ll get the power of personal touch. You’ll understand the nuances of customer service.

Keep perfecting your service. Then, launch a product.

Of course, we both know there could be a bazillion things that could go wrong – but when in doubt, go to #7. Start somewhere. And you’ll be fine.

What lessons have you learned from starting your own business? Tell us in the comments!

Image by Ed Yourdon.

Featured photo credit: https://www.flickr.com/photos/yourdon/ via flickr.com

More by this author

start an online business 8 Tools to Start an Online Business without Breaking the Bank Resume tools 4 Easy Resume Tools to Breathe Life into Your Resume and Boost Your Chances of Getting Hired starting your own business 10 Things I Wish I Knew Before Starting an Online Business Resume Rejected Was Your Resume Rejected? Here’s What to Do Next 3 Things To Do If You Fear A 3-Step Process to Overcome Fear

Trending in Work

1 How to Sharpen Your Transferable Skills For a Swift Career Switch 2 How to Make Going Back to School at 30 Possible (And Meaningful) 3 7 Powerful Habits To Win In Office Politics 4 10 Signs of a Bad Boss and How to Deal with Them 5 10 Great Skills to Include in Your Resume When You Change Careers

Read Next

Advertising
Advertising
Advertising

Last Updated on July 18, 2019

How to Sharpen Your Transferable Skills For a Swift Career Switch

How to Sharpen Your Transferable Skills For a Swift Career Switch

Most people grow up with dreams to go to college and graduate with high-paying job offers waiting for them the week after graduation. Others may favor non-traditional career paths. But the desire is the same: to find a job we love where compensation is commensurate with experience.

However, plans change. For instance, what started out as a dream to be a surgeon is cut short by a nasty injury and you’re debating how to transition into a new role. Or you might be facing being let go from your current employer and are anxious about “options out there.”

Whatever the case may be, switching careers can be intentional or unintentional. What matters is that you’re well-prepared, and the only way to do so is to learn new skills — hone in on your transferable skills.

Why Hone in on Your Transferable Skills?

There are several reasons you need to develop these skills if you want to go far in life and your career. In a nutshell, honing in your your transferable skills can lead to:

Better Job Offers

Continuous assessment and improvement of your skills widens the pool of job offers for you to make selections from. You’re no longer tethered to one industry as you’re able to lead your career by design, not by default.

People with transferable skills on a resume also open up opportunities for more potential employers.

Increase in Pay and More Responsibilities

You’ve heard the saying “with great power come great responsibility.” In your case, transferable skills make you more marketable to employers which could lead to pay raises.

Although this isn’t an automatic process– you have to be proactive about what you want in the marketplace, there is a chance that these pay raises will come with change in titles and roles.

A Shot at Entrepreneurship

Yes, changing career paths also includes the possibility of working for yourself. With these skills and work experience, you could live anywhere in the world and design a life and career you want.

We’ve talked about why you need to strengthen your transferable skills but what are some these skills, and how can you work on them?

13 Tips to Sharpen Your Transferable Skills

1. Update Your Resume

You might be surprised to know this but yes, updating your resume is a skill. The very first thing you should do while thinking about switching careers is to highlight attributes that make you very desirable candidate to employers.

Think about your volunteer experiences, freelance projects, and school projects. Although they might seem insignificant, they demonstrate your ability to deliver results that several companies are looking for.

While you might have held several positions since college, switching careers will require you to have a different type of resume.

There are three different types of resumes: functional, chronological, and a combination resume. However, if you are looking to switch careers you’ll want to have a functional resume. A functional resume is strengths-based that emphasizes skills that are transferable rather than a collection of dates and job titles.

2. Brush up on Your Communication Skills

Every attempt to get ahead in business and in life starts with the need to communicate effectively. Whether it is interpersonal, intercultural, or multi-generational, the ability to be seen and heard while respecting the boundaries of work relationship matters.

That’s why it’s one of the top skills you need to master. Strong communication skills allows you to effectively tailor your messages to specific audiences, which will make you a stronger asset to any organization.

To hone this skill:

Advertising

Pay attention to your listening skills. To communicate effectively, you need to first learn how to understand others.

Your ability to decode overt and implied messages, no matter how nuanced they are, is key to knowing how to foster deep relationships with others.

This article can also give you effective ways to enhance your communication skills:

How to Master Effective Communication Skills at Work and Home

3. Learn Technical (or Business) Writing

Another form of communication, writing, is a skill that can take you anywhere.

Companies communicate a lot through written memos, emails, newsletters, and other audio-visual means. But at the crux of this all is someone or some people who are tasked with translating the organization’s vision into statements anyone can understand.

To hone this skill:

Consider taking some free or paid classes online. You can accomplish this through several community colleges or online platforms like Lynda, Udemy or edX .

4. Practice Public Speaking and Presentation Skills

No matter how intelligent you are, no one will take you seriously if you’re unable to pull off a decent level of persuasion through presentation skills.

Most presentation can be done through either electronic devices or require your physical presence. Your chosen career may require you to be in front of several hundreds of people or you could be charged with developing materials for presentation.

To hone this skill:

Volunteer to lead projects that give you some responsibility for putting together presentations.

Also, try taking courses that will improve your public speaking skills if you feel lacking.

These tips on public speaking would be helpful too:

The Ultimate Public Speaking Tips to Hook and Impress Any Audience

5. Get Comfortable with Identifying Problems and Solutions

Every organization has got its problems no matter how greener the grass is on the other side.

How to hone this skill:

Advertising

Practice being resourceful.

Do you know where to find every company policy on the intranet in less than five minutes?

Think about a time you noticed some inefficiency at work and proposed a solution. Think about instances where you lent your voice to a cause which resulted in improved processes for your department.

No matter how small or inadequate you might feel, you’ve got some problem-solving skills that some organizations want.

If you look for more ways to improve your problem solving skills, take a look at this article:

6 Effective Ways to Enhance Your Problem Solving Skills

6. Recognize Your Team-Building Ability

Your ability to smoothly switch careers also depends on how well you can energize your team, especially if you’re aiming for a leadership role. Unfortunately, team-building usually isn’t something you learn on the job in most careers unless you hold a managerial position.

The good thing is that you possibly know one or two things about team-building. Think back to moments in college when you had group projects with colleagues and had to work with 3 to 4 other strangers for months. Were you able to get past your differences and disagreements to focus on the uniqueness of everyone at the table?

Making a career switch might require that you work with multidisciplinary teams whether you have a deep knowledge of what the other team does or not. I can easily think of doctors, nurses, physical therapists, and social workers working closely to achieve the goals in a patient’s care plan.

How to hone this skill:

Look for collaborative projects and team building activities that excite you and challenge yourself with new possibilities.

Try some of these tactics to keep your team motivated as well:

17 Proven Tactics for Motivating Employees and Building a Stronger Team

7. Lean into Your Leadership Skills

Although similar to the previous point, leadership skills extend far beyond building teams, managing time sheets and correcting behavior.

What I’m referring to here is your ability to develop a vision, believe in it, and inspire buy-in from everyone involved. This isn’t about knowing how to run a particular machine; it’s about how to lead a team of people with various backgrounds, experiences, and ideas of how things should be done.

How to hone this skill:

Although more complex than the rest, it all starts with an introspective look into your strengths and weaknesses. Then get a mentor or a coach who can bring out your leadership qualities so you can operate from a place of strength.

Advertising

Learn more about the effective leadership types here:

5 Types of Leadership that Help You Build a High Performance Team

8. Improve Your Analytical Skills

Are you good at taking large amount of data and interpreting them? Your skills could come in handy.

Organizations are looking for people to make sense of the data around them, explain how it affects profitability, and make projections based on it. Best of all? You don’t need to be an accountant to be analytical.

How to hone this skill:

Try taking data interpretation classes online or at a community college. Learning Microsoft Excel or Access is also a plus. If you’re ambitious enough, you could consider getting additional certifications to up the ante.

Take a look at these ways to help sharpen your analytical skills:

What Are Analytical Skills and How to Strengthen Them For Success

9. Don’t Discount Your Time Management and Prioritization Skills

How good are you when it comes to deciding how important tasks are, organizing schedules, and coordinating plans?

Should you be willing, there is a market waiting for you out there. Organizations and busy executives are always looking for talented individuals to outsource these tasks to.

How to hone this skill:

Although not everyone possesses secretarial superpowers, you can improve this skill by focusing on taking huge tasks and breaking them into smaller goals or steps in order to achieve a bigger goal.

Here, you can learn to prioritize to achieve more:

The Ultimate Guide to Prioritizing Your Work And Life

10. Embrace Your Creative and Critical Thinking Side

Although it’s often believed that creativity is for the arts and right-brained people, I believe everyone is capable of being creative. In fact, most organizations recognize creativity as a vehicle that will drive successful inventions in the future.

How to hone this skill:

Try doing something fun. As simple as this sounds, you’d be surprised to learn how much. In fact, behavioral and learning scientist, Marily Oppezzo, says taking a walk might be all you need to get your creative juices flowing.[1]

Advertising

Anyone can be creative, you just need the right way to train your brain:

What Is Creativity? We All Have It, and Need It

11. Don’t Stop Learning Tech Knowledge and Skills

Being tech-savvy is a huge plus. If you have an affinity with computers, software applications and are abreast of technological improvements, it is a transferable skill that is worth highlighting.

You don’t have to be a young college graduate with silicon valley dreams to work

How to hone this skill:

All you need is the determination and the readiness to learn. This article will give you some ideas on the types of skills to learn:

How to Improve Your Computer Skills to Get Ahead in Your Career

12. Build Networks and Relationships

You aren’t free from networking. Not at the moment. With your goal to switch to a different career, your networking skills will come in handy.

Fortunately for you, networking doesn’t have to be so hard.

How to hone this skill:

Attend conferences and job fairs. Chances are you already have people in your network you can move you closer to your dream career.

To enhance your networking skills, take these steps:

How to Network So You’ll Get Way Ahead in Your Professional Life

Final Thoughts

Although there are several people with the same qualification and degree(s) you possess, what ultimately determines hireability comes down to a myriad of things such as culture fit, how teachable you are, cultural sensitivity, inter-generational awareness, and your ability to navigate uncertainty.

You have a chance to stand out by letting your dream companies know how these soft skills make you an invaluable asset, and how saying ‘YES’ to you is a win-win for both parties.

Happy career switching!

More Resources About Career Advancement

Featured photo credit: Unsplash via unsplash.com

Reference

Read Next