The economic cycle is the fluctuation of the economy between periods of expansion (growth) and periods of contraction (recession). Global crisis and natural disaster can often lead to sharp dips in the global economy and this can trigger a global recession.
During these times people often turn to online business opportunities to boost their income and give themselves a purpose and a new set of goals.
What are the 3 basic things that people need to get right before they think of joining the online industry and how can they use them to prosper?
These are 3 things that everybody who is planning to get started in an online business opportunity needs to consider before they get started.
1) Explore some different options and choose the business model right that feels right for you.
There are a whole host of online businesses out there. There really is something for every different budget and every different interest. It is worth taking the time to explore several businesses and figure out which is the right type for you.
It is vitally important that when you look at online business opportunities you do it safely. Make sure that you are not putting yourself in financial danger. Far to many marketers get over excited and tell you to whip out your credit card now and worry about paying it back later. This has never been my approach.
There are plenty of good solid businesses opportunities out there. Businesses that have processes in place and operate ethically and securely. That let you get started on a budget that suits your financial circumstances.
In my experience money does save you time. But if you don’t have a big budget you can still succeed, you just have to be prepared to commit more time.
It should also be noted, with a word of caution, that the internet is also home to a variety of scams.
I have found a good a rule of thumb is that, in general, if something offers high returns for little to no work then it is usually something to avoid.
If it looks like s**t and smells like s**t, then the chances are it probably is s**t!
Any business requires some level of hard work and effort to get a return – that’s just the way it is. If you are going into an online business expecting get quick rich then the reality is you are probably going to get taken advantage of.
2) Figure out your method of communication
This is one of the most important things that you need to get in place when looking to build an online business. You really need to think about how you are going to reach out and talk to people.
How you are going to communicate the things that your business is trying to achieve.
This isn’t as difficult as it sounds if you think about your own strengths, interests and skill sets.
Do you love to write, are you great at presenting, maybe you like recording video’s and getting in front of a camera.
These are some of the ways I have seen people build successful businesses:
- by writing blogs and articles
- through podcasts
- by creating and designing beautiful sales pages and marketing funnels
- through Youtube
- Creating images and pictures they can share online
- Writing and selling ebooks
- by creating weekly newletters
- Building active social media accounts (Facebook, Twitter, LinkedIn, Instagram)
It really is about developing new skills and finding things that work for you!
If you were always an absolute whiz at doing presentations at work. Put this to good use!Create a powerpoint presentation and record it on Youtube. You don’t even need to be in front of a camera for this one!
You can then then share that video to social media or use it as a sales page in a sales funnel.
Find the strengths you have now and start right there. You can build up other skills later but think about the tools you have right now and use them!
3) Get your mindset right
Whenever you start a new adventure you need to get your head into the right space. People often come into this industry with fear as the motivator. They fear being broke, they fear being viewed as a failure, they fear having no purpose and no direction.
It is important to use this fear as a driver and turn it into something positive.
Use this time for excitement, for passion, for learning new skills. For meeting new people, for opening your mind and exploring your dreams.
If you can get your mindset right then everything will come a lot more naturally and easily. When your head space is right things do not feel like chores and celebrating the wins becomes more frequent. With a positive outlook you are grateful for successes and appreciate what you already have while striving for more.
People often put importance on the first 2 things but forget about the 3rd – it’s a fundamental error and massive mistake.
If you familiarise yourself with these 3 steps and then take action and put them into practice you will find your online journey much smoother.
Those that plan, think and take action are the ones that are much more likely to succeed.
I have been very fortunate to build an online income over the past few years, if this is something you’d like to do too you can see here exactly how I make money from this blog.