Correct Mindset
Right from the start, it is of much importance to think about this as
a serious
BUSINESS.
It's NOT something you are doing just for fun.
Your aim is to make
money.
Your mindset will play a huge part in determining how successful you are
going to be and where you want to be in the Robert Kiyosaki's
Cash Flow Quadrant.
This famous concept reveals why some
people work less, earn more, pay less in taxes, and feel more financially
secure than others.
It is simply a matter of knowing
which quadrant to work from and when.
Before starting any online business you
need to consider following:
1)
You need to take full responsibility for your own actions
and their consequences. No-one else is responsible for YOUR success or failure. This system will help
you a lot on your way to online success, but it will not do it for you.
No-one can make your business successful but YOURSELF.
2) You need to set your mind into "business" mode.
If you
were starting an offline business, you would first want to do a "SWOT
Analysis." Write down your "strengths" "weaknesses" "opportunities" and
"threats." The strengths will include the abilities you already have as you
start out - your computer skills and internet knowledge, any previous
marketing experience. (You actually don't need great computer skills to work
this system. If you can copy and paste, handle basic word processing, and
send an email, you can do it. Everything else will be explained step by step
along the way.) It will also include your ability to follow instructions,
your positive attitude (which, if you don't already have, you are going to
train) and the fact that this system takes you by the hand through all you
need to know and do, which save you a lot of time and money. The weaknesses
might include areas where you are lacking in knowledge, and maybe a lack of
finance or time. Opportunities will include the fact that internet usage is
continuing to grow at a remarkable pace around the world, and also the fact
that in the present world economic climate many people are looking for a way
to earn money other than a job or traditional business.
Threats may include things like family opposition.
You need to be confident in the fact that the Strengths and Opportunities
outweigh the Weaknesses and Threats. If, when you look at your SWOT Analysis,
you are not absolutely confident that is the case, then quit right now. Far
better for you not to get started, than to start and not feel within yourself
that you have a good chance of success. The
nature of life is that there are very few things about which we can be certain,
and success in business is definitely not one of them.
However, you do need to be able to start out saying," Yes! I can
do this!"
Ask yourself
three very important questions (and be realistic):
1. How much money can you afford to invest
into the business each month BEFORE you start
getting a return? This will include the fees for the programs you join, the
paid resources you choose to use, and some extra for paid advertising (tu
will also be setting a limit for yourself so that when you see
those tempting "Ohis system works mostly with free
advertising, but sometimes you may want to put in a bit extra.) This needs
to be the amount you can afford to "lose" each month till the business gets
going. By establishing this now, you will be saving yourself the pressure of
thinking "I'm spending money and I need to get it back fast!" You will get
it back once the business is going, but allowing it to become a pressure
factor will set you up to make unwise decisions in the hope of breaking even
more quickly. Yone Time Offers" (and you will see a lot of
them!) you will be able to say either, "Yes, I can afford that"
or "No, not in my budget right now"
2. How much time can you spare each day
to put into your business?
I
would suggest that you allow a minimum of two to three hours
a day. You can probably do it in one hour, but it will take
much longer to get things rolling. Also, the first couple of
weeks when you are setting things up will probably take
longer, depending on how much experience with computers and
the internet you have. (If necessary, you can spread the
set-up time over a longer period than will be suggested in
your instructions.) Having determined how much time you can
spare, commit to putting that time into the business each
day, no matter what happens. If you have a family, make it
clear to them that this is "business time" not "play with
the dog time" or "put out the trash time" or "help with the
homework time" - do all those things OUTSIDE of "business
time." Here's an idea regarding the "time" factor: you will
need to check with a tax accountant about the rules where
you are, but in some countries you can employ a teenage son
or daughter in your business and write his/her wages off as
a business expense. At the same time, he/she does not pay
tax as long as the amount is under the threshold. So, if you
have a teen hanging around, delegate him/her some of the
routine stuff for your business. You get both a tax break
and a time break, and son or daughter gets some extra pocket
money.
3. How long are you prepared to work on the business before breaking even?
(Just
in case you are a total business "newbie", "break even point" is the point at
which your income from the business equals your expenses.) I would suggest you
allow yourself at least six months to 1 year. As in question 1, this will take the
pressure off you and help you to avoid the unwise decisions that might result.
Of course, you will be working to break even long before then - in fact I would
hope to see it within the first month - but by allowing yourself a longer time
frame you are cutting yourself some slack and allowing yourself to concentrate
on promoting the business rather that worrying about the business.
Just as a follow on from that, you need to commit to "sticking with it." As you
go through this program using the various free advertising tools, you will find
yourself presented with all kinds of plans and opportunities. Some of them will
seem very interesting and enticing, but don't allow yourself to be distracted by
them. Later on we will diversify a bit, but it is important to concentrate on
getting the core programs running well first. Think of it this way: imagine you
are starting an offline business - let's say, a butcher shop. You get started,
then a week later you look down the road and see that the fruit shop has a
lively trade. You give up on the butcher shop, and go and open a fruit shop
instead. You last a little while in that, but then you see the baker down the
road is pulling in customers, so you sell up and buy a bakery. After a while,
you see a cafe doing well, so you sell the bakery and buy a cafe. Would anyone
ever do that? Of course not! And if anyone was foolish enough to try
it, would he make any money? No, to be successful you have to keep
doing the thing you set out to do in the first place and not to give
up easily.
You also need to decide your business structure. In most cases, this will be
"sole trader" - in other words, you are doing the business by yourself. However,
if you are married or in a relationship, you might want to operate as a
"partnership." If this is the case, you will need to get legal advice about
setting up that structure in the area where you live, and what tax and other
advantages there might be in doing so. You also need to decide whether you want
to do business in your own name, or apply for a Business Name. The rules
concerning this will be different in each country, so you will need to check
with your own authorities. However, as a general rule you can do business in
your own name without any need to register, but if you add anything to it you
need to register a Business Name. For instance, I can (and do) carry on business
as simply Edib Ridic without registering the name, but if I wanted to do
business under the name of, Edib Ridic Enterprises I would need to
register it. Also check if any business registration (other than a Business Name) is needed
in your own country. For example, I live in Slovenia, and to operate a business
here you need to have s.p (business license). Applying for it (or any
registration that might be applicable in your own country, if any) will gear you
toward the fact that you are IN BUSINESS!
Edib Ridic
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