July 26, 2010

Keep an Alternate Plan Handy

Ensure your business to have a way out should it continues to do poorly. There should always be an alternate plan if things are not working as expected. You can maintain a full time job or maintain a sideline business while you are still establishing your online business at the first month of operation. If it does not succeed, at least you still have the resources. Having income from different resources can help you cope with the fear of failure.

Be also unique in your own way. Do not follow what other people are doing. You have to think of a unique products or services to offer. You’re too raw for competition at the first stage of business, so it should as much as possible be avoided. More competitors mean less money for your business.

At the first stage of your online business, do not too overwhelmed of offering more products and services. You should not offer beyond your capability. Slowly add up services and products as you progress along the way so you can ensure you covered everything properly.

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