How to start a REAL online business.

Warriors

There are many threads added daily to the warrior forum and around the net asking how to make money online etc.

The real question should be, 'How can I setup a sustainable business online'.

I am not going to give any specific routes on how you can make money online, as I believe you should find what works for you and there are thousands of legiable methods which do work.

I want to help members with a business plan. A business plan is like the back bone to your body, without it, you can not move! FACT!

To start building up your backbone, you will need to firstly setup as a business. Do not think you can evade the tax man, he will get you. You need to be legitimate throughout. It is free to start a business and free to start a business bank account.

If you are going to trade via paypal, make sure you setup as a business account, or you will eventually end up getting limited or losing your hard earned funds.

After you have setup your account(s), you will need to go and buy a business accounting book, these cost around $10 online and help you balance your profit and losses. Do this, as it will give you an instant real time view of how much tax you will owe by taking the amount you have made after expenses and multiplying it by the tax amount, e.g. 20% tax would be calculated as $1000 x 0.20 = $200.

Now you will need to get a pen and paper and brain storm, write your passions, your hobbies and interested. Expand on your ideas by branching out, do this until you have around 20 ideas on paper. Leave your brainstorm and revisit it the next day, you will instantly notice silly ideas which will never work, cross them out and then start crossing out by preference of what is possible and what you would enjoy doing.

You should now write a business plan, this should include the following.

• Yearly target $$$$? (it could be an estimated loss)
• Membership or sale numbers
• Advertising costs
• Development time
• Monthly work plans
• Monthly milestones and checks (use this to audit your current progress)
• Analyse your competition.

Now stick with the idea you have chosen, take time to develop your idea and if you have funds, use the funds to develop your idea. Nothing in life will ever be free, setting up a business will cost you, without a cost, you are without a business. With anything you need motivation, take time out with your family and friends, surround yourself around people with positive thinking and a great attitude towards you.

After you have the business set and ready to go, get the word out to anyone and everyone, your friends, family.

When your business is sustainable and making a ROI, reflect on mistakes and calculate them out of your next year. Any positive results, rinse and repeat.

I will mention this, I have found many companies I have worked with following the same trend and never following the CURRENT trend, because it is what they know, in some cases this is fine in others it could close the doors to your business. Make sure you keep updated with current affairs in relation to your business. You should always check competition and any deals they are offering.

All you need is structure and an idea and you could change the world.

-Owen Smith