Posts tagged strategy
The first thing to consider when starting your business is what processes you plan to put in place to complete your work. Starting a business means loads of work, so taking a high-level view at the outset can save you numerous headaches down the road. Many eager entrepreneurs are so excited to launch their particular endeavor, that they jump into every project head first. Ideally, you should draw up a plan of how much time you must spend on particular tasks, and how much can be outsourced.
Entrepreneurs who jump right in without proper planning often give up on their internet business because they are plagued by overwhelming workload involved with operating their enterprise. These small business owners usually try to do every single thing associated with their business, including accounting, sales, market research, pr, web development, and content writing. Is this scenario familiar? I’m sure it does to some degree. I made many of the same mistakes when starting my first business six years ago.
Possibly the biggest misconception many men and women face is that online enterprise is a “get rich quick” scheme. For this reason alone, many people ignore what should be their primary motive – developing a solid and profitable business model, and to take control of their incomes and schedules.
Once you have entered the world of online entrepreneurship, you must operate and reason like an executive. Basically, an executive is in charge of defining the vision, processes, and direction of his company, whereas employees take on the day to day tasks and functions. If you spend all of your time drowning in minutia, you will not have an adequate amount of time to handle the executive functions that are critical to the success and growth of your online business. Many startups don’t have the capital to hire a large staff right away, and quite often, outsourcing many of your duties can be essential if you want to grow your firm cost effectively.
However, it’s not as easy as registering your business and having someone else do all of your work for you. You first have to know what you are doing, and to get there, you must have at least some experience in all areas of your business. You should develop you strategy around hiring a third party to take care of your everyday duties about three-six months out. This will give you plenty of time to perfect your processes, and know exactly what should be outsourced and how to do it.