Ever since the dot-com boom people have been obsessed with online businesses and it is easy to see why. If you take a look at the list of billionaires who made their fortunes the fastest, almost all of them did it via the Internet and online businesses.
Even the richest person in the world, Jeff Bezos, got to that position by founding an online selling platform, although he is likely to lose his status as his divorce becomes final. Judging from his experience, the first rule of becoming a successful online business owner should be “always sign a pre-nap”.
Discover Your Passion
People make money on the Internet in all sorts of way, be it gaming, gambling, eCommerce or simply making YouTube videos about any of those topics. The key is to find something that you are passionate about and then figure out the way to monetize it. If you are driven by simple greed, you won’t get far. Your audience will recognize it and denounce you. But greed in combination with passion is a winning ticket for a successful online business.
Find A Niche And Fill It
Every successful online business has its own thing. The founders were smart enough to spot a niche that wasn’t being used and have created a product that responds to the actual demand on the market. One of the best examples is AskGamblers.com, the site that lists and rates the world’s top online casinos. They have recognized the need of casino players worldwide for a fair and unbiased review of gaming sites, filled with scammers and cheats and they have stepped in and delivered exactly that.
There Are No Magic Solutions
Sometimes, people have an idea that will revolutionize the world and change the course of human history. Stop looking for them. They are extremely rare and often difficult to monetize. Instead, concentrate on achievable goals. Jeff Bezos didn’t invent anything, there were online retailers before Amazon. What made a difference was his persistence and hard work and the ability to recognize global trends before they emerged.
Make A Plan And Stick To It
Rare are the people who stumbled upon wealth by winging it all the way. Have a plan and stick to it. Revise it from time to time to conform to the realities or new discoveries you made along the way, but unless absolutely necessary don’t deviate from it. A good plan is a must-have for all wannabe online moguls and it will help you avoid unnecessary risk, regardless of how tempting they appear. That been said, a plan isn’t something that is carved in stone and immune to changes. Don’t let your pride or stubbornness stop you from making alterations that will benefit you and your business.
Strike While the Iron Is Hot
Don’t wait for the perfect opportunity to start, it will never come. There are no perfect conditions, nor do you have to know every single detail before you begin. If you wait to launch your business until everything is tip-top, you are in for a long wait. Ryan French, the founder of GameKlip said in an interview that he didn’t know the first thing about running a business, manufacturing process or even how to send a parcel abroad. His company is now shipping his products to 80 countries worldwide. There are things that you can learn as you go along and there is nothing wrong with doing so.
Failure Is An Option
Don’t let failure discourage you. It has happened to everyone and it will happen to you. In the immortal words of Rocky Balboa: “It doesn’t matter how hard you hit, it's about how hard you can get hit and keep moving forward”. Learn from your failure and continue on your path. Remember, failure as an online business owner, just like success, isn’t final. It only becomes final when you admit defeat and stop trying.
Become A Successful Online Business Owner Today
Above all these, one thing all successful business owner, whether online or not, have in common is the practical approach. The idea to win as a lean startup will get you only so far, but unless you have the ability to resolve practical issues day after day, even the best ideas are useless. This is especially true in the beginning when you can’t afford to hire big staff and most of the tasks land on your shoulder, regardless of their nature. Now get out there and put in the work to be a successful business owner!
I hope you enjoyed this article about how to become a successful online business owner and digital lean startup founder.
Interested in reading more articles about online business success?
Read My Blog Posts:
- North Carolina's Top Tech Startup Superstars
- Beware Of The Hidden Costs Of Starting A Business
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