Draft Plan For Business

(Made 12/2018; Modified 10/2022) Post may contain affiliate links; click here for statement.

For an online entrepreneur, there needs to be a beginning.

If this is all new to you, it helps to plan things out before getting going. Without a map or plan, you can wander around more aimlessly. Of course, this is not what you want when going for an online or offline business.

Make a draft business plan.

As the good book of history has stated, For which of you, desiring to build a tower, does not first sit down and count the cost, whether he has enough to complete it? Or again to help mitigate laziness some, The plans of the diligent lead surely to abundance, but everyone who is hasty comes only to poverty.

So some initial questions you should ask yourself include the following ...

These are serious questions to ask of one's self before setting out on the way.

Here are some things that an entrepreneur needs to discover beforehand.

How Much Time Available

The initial thought is how much time do you have during the normal week? If you know for sure that you'd come up with an hour weekly, that may be enough to build a website like this over time.

With an hour or two, the physical product selling business may work out fine. Spend an hour buying things online or at the local stores. Take another hour to list things online, time for pictures needed or packaging.

Even with minimal time allowed per month, things can work out. That's because commitment over time can carry one through. Ah, patience and persistence. These two virtues or qualities are great to have as an entrepreneur. They're even quite essential, since making one's own way in life takes time. To be content in the business journey, understand these things early. They'll serve one well for the future.

How Much Money Available

Before beginning, question monetary dedication. How much are you willing to set aside? Even better, how much are you willing to lose should things not work out? It's like, don't commit any more than you're willing to lose. This may help with confidence before setting out.

If you don't have anything to begin in online business, maybe join with the eBay selling site. One way is to get free products from family, friends or associates. Then just hold onto all the profit yourself. Or try getting things to sell for others, taking 1/2 the profit or something. No money is needed for either of these similar ways. When times are tough, let pride go and simply ask around.

So then, with little money you could begin a site that costs maybe $50-$100 to operate one full year. The web hosting service of SiteGround (discount here) could work great! This is the first recommendation, and what this site is built upon. Also, view the "10 Reasons For SiteGround" post for a list of benefits offered.

Making a website is an excellent investment, that needs time and effort to bring unto fruition. Pick a passion, research market demand, find out what kinds of things sell okay, then get going writing and marketing. These are the main points to success.

And if you can begin with more money up front, consider selling physical things online. Begin with maybe $100-$500. Sell online since this is the larger marketplace between the local town and the online community. Buy used or new goods at lower prices than they're going for elsewhere. This process known as arbitrage is great! And it works. It takes advantage of market inefficiencies. Arbitrage is common within business.

Will This Be Enjoyable

You may want to write out both your time and money considerations. After kind of drafting out your way, next ponder what activity will be more enjoyable. After all, you don't want to begin something only to waste time. Time becomes wasted when giving up. Figure out which one you'll enjoy over time and persist with.

A boat enjoying vacation freedom.

This one is also quite important. If you're going to hate doing something, then just go work somewhere you don't hate as much. Just find some nice job you don't quite dislike as much as the business of choice. More contentment may follow.

Online business is not for everybody of course. But if you can't find anything enjoyable, the option to stay in some job or career may be the right one. And of course, they don't need to stay that way. Only until you discover more of a passion for entrepreneurship. Really, it is up to you the reader.

Will The Dedication Last

Seriously, even if the previous factors work out fine, without dedication the whole thing can fall apart. This one is a huge problem to confront and overcome. It's absolutely necessary though. Time, money and passion can all be in place. Without effort over time, massive time waste results. Avoid this through getting the right mindset from the beginning of entrepreneurship.

So there is advice here to understand. It's not to begin something taking much effort, only to quit some time in the future. Better yet, quit something fast or as soon as possible. If you find something doesn't seem right or won't work for you, change things up fast. Prevent as much time waste as possible. Remember that life is short.

There's no need to give up being an entrepreneur. But it's okay to give up things that don't fit with your passion or talent. And the sooner this is discovered, the better. Then simply continue to look around or ponder the way for yourself.

Visit the article about online business ideas for other concepts.