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After deciding an online business is your choice to create an extra income stream, what do you do next?
There are so may programs and plans out there to choose from, you could grow old and go broke, just searching through them all. Every thing under the sun seems to be available to-day!
You name it, someone has made it or is selling it online, somewhere.
It is like a kid going into a lolly shop, their eyes glaze over with joy and anticipation at the thought of chomping into all the chocolates, lollies and sweet treats on offer. So it it with a novice, searching for an answer to their dilemma.
The first thing is to realize you will be establishing a real business.
- Next, is to see your own accountant for a quick chat and let him know that you are intending to earn an online income.
- Income Tax is assessed on an Australian Resident, regardless of where they earn their income
- Next, is to search out what incomes are possible online, so you have an example that it can be done
- Then research various business models to create your own business plan around
- Then find out about some marketing models and choose one to suit you.
- Next on the list is finding your area of expertise
- Then finding what to sell...physical or digital products.
If time is invested in doing this basic and necessary research up front, it will save you literally thousands of dollars and thousands more in wasted man hours, not to mention reducing frustration and confusion levels as you go along.
After carrying out this research and compiling a business plan of sorts, it could be 3 to 6 months down the track. Do not despair. There are thousands of people who have been online now for 10 or more years, still earning nothing, who wish they knew how to do this before they started searching online.
Golden Nuggets to take away from this 22nd Article in a 24 Article Series;
- Regard this business as a real business and take appropriate steps to set yourself up in business.
- Be prepared to invest the first 3 to 6 months learning about the industry, marketing and business models available online.
The opportunities to earn large amounts of income online is almost unbelievable. Check out John Reese, million dollar day...Google that term. There are plenty more online businesses who have done much more than that. Most people would probably be happy with enough to replace their full time job. It's a fun and exciting decision to make.
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