In this post, I’m going to help you eliminate the confusion and the analysis paralysis cycle that you’re going through about starting your online business.
I’ll go over the simplest way to get started without all the overwhelm so you can get unstuck and finally start taking action.
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So if you haven’t found your idea yet, this guide will help you ask the right questions to get the clarity you need to make the best decision for you.
And I also have a free resource for you: 15 Key Steps To a Winning Entrepreneurial Mindset, so be sure to to grab it.
Before we get started, don’t forget to subscribe to my newsletter so you can get exclusive help on starting and growing a digital products business as a creator. You will also get access to more insights and resources that will help you in your journey to get started.
Why Is It So Hard To Start A Business?
While many people want to start a business and become their own boss, they’re held back from taking action because they don’t know what kind of business to start.
Not knowing where to start, most people choose to remain where they are and not take the risk. However, if you do want to take the leap and become an online business owner, use the following equation.
YOUR ONLINE BUSINESS EQUATION
A topic you’re interested in + people you like and want to help + a problem or desire that those people have, and a solution that you can provide to that problem or to meet that desire that they have, which you will then package into a product or service of your choosing.
So How Do You Get Started?
In order to make sure you’re heading in the right direction in getting your online business off the ground, consider the following:
What Is Your Intended Lifestyle? You need to reflect on your interests and the lifestyle that you are hoping to attain, as well as reflecting on your natural strengths and the skillset that you already possess.
What do you dislike about your current job or lifestyle? Think about what you dislike about your current job and lifestyle and what you’d like to change because there must be one thing or many that you don’t like about your current situation.
Maybe you don’t like the lack of free time in your life or perhaps it’s the commute to work that has you down or even being told what to do or possibly the lack of a sufficient income.
It’s important to be specific when identifying what it is you’re trying to escape from so you can avoid recreating it in your new lifestyle.
For example, if a significant issue for you is a lack of free time, then you shouldn’t opt for a business model that will require an equal amount of time. Instead, you need to choose a model that is not directly tied to your time.
What Do You like About Your Current Situation? The next question to ask yourself is what do you like about your current situation? It’s possible that not everything is wrong with your current situation. Maybe you enjoy the relationships at your work and working in a team.
Or maybe you appreciate the fact that you don’t have to think about your work after you’ve clocked out. It’s good for you to know what you like if you want to be able to reproduce this in your online business.
For example, even if being an online entrepreneur means working by yourself, most of the time, there are different ways that you can add social occasions to your new entrepreneurial life.
You could share working space with other entrepreneurs and freelancers. You could also attend meetup groups in your field and meet up with other like minded individuals occasionally.
Determine your strengths and talents. This isn’t about the skills you have, but rather your natural talents and strengths that are not things that you gain through experience or practice. These are the activities that come to you naturally and more efficiently than others.
You might be good at writing and play with words, solving problems, performing manual tasks, or analyzing concepts.
Determine your natural weaknesses. It is essential that you don’t think of a weakness as a lack of skill because you can learn skills. Your natural weaknesses are aspects that you feel less at ease. For instance, you may not have a well developed sense of aesthetics or maybe you struggle with staying organized.
To be successful with your new online business venture, you will need to adopt a growth mindset and a desire to work on your weaknesses to improve yourself continually. However, it is still necessary to acknowledge your weaknesses so you don’t choose a business model that will make things unnecessarily tricky in the beginning.
The 15 Key Steps To a Winning Entrepreneurial Mindset will help guide you through the transition from employee to entrepreneur, so be sure to grab it.
What type of personality do you have? Certain aspects of your personality will determine what will bring you more fulfillment and joy in the same way that your strengths and talents will.
An easy way to explain the role that personality plays in determining your business idea is to consider the differences between an extrovert and an introvert.
An extrovert is more likely to enjoy social gatherings and networking events than an introvert would. On the other hand, an introvert probably wouldn’t mind spending many hours working alone.
A shy person might have a problem being in front of a camera, while someone who is more active may prefer to move around more instead of sitting behind a computer several hours a day.
What are your skills, experience and expertise? These are the abilities and knowledge that you have acquired over time at work and through other activities. It will help you move faster in the process of starting a business if you choose a topic that is centered around your current skills and expertise, since you won’t have to spend time acquiring new skills and related knowledge. However, this is not mandatory as you can always learn.
If you have any questions about starting your online business as a digital creator, please be sure to join my free community for help with getting started.