Showing posts with label Funding. Show all posts
Showing posts with label Funding. Show all posts

Monday, 25 March 2013

Online Business Start-Up - Funding It With Your Unemployment Check

Each day, more and more deserving people come online to earn income through an online business venture. As time passes and the economy leaves less and less financial reserves for prospective business start-ups, many people have nothing more than an unemployment check to fund their new online business start-up.

Low start-up funding should not be a deterrent for anyone who has a strong desire to get an online business up and running. It has been done hundreds of times during this recession by people who had nothing more than an unemployment check to invest.

Here are some ideas that might help fund your start-up easily and frugally:

1. First, think about what is ahead Starting a new business, especially if you have never owned a business previously, could be a frightening experience. I assure you, it is not as difficult as it seems. The first step in the process is to decide the business segment that is right for you. Look for something with which you can happily become involved or something that is interesting to you. At this point, you are looking to start a basic business which can be expanded later on as experience and profits grow. Since you will be running your business solo, make mental plans to put forth the necessary effort. It will take weeks of diligent work on your behalf to get your business launched, so prepare yourself for this.

2. Do not over capitalize your start up Starting a profitable business on a shoestring, in this case an unemployment check, can be accomplished easily if you set up limits on how much you will initially invest in the venture. To start a professional business online you will need a domain name, a hosting account to give that domain name an address on the internet, and an autoresponder with which you will build a list of subscribers. The fee for a domain name is around $10 per year, and the monthly expense of hosting and an autoresponder will be approximately $22. When you consider the greater expense of opening a traditional business, this $22 per month is minimal. Once you have your domain name, hosting, and an autoresponder, you will have all the basic necessities for starting up your venture.

3. Watch your spending There is a great temptation to make purchases during the early stages of your start-up due to the ever-expanding new products and services that become available for online business people. You must remember that during your start up phase it is crucial that your spending have limits. Those limits should be no higher than your basic necessities. A word of warning: many new start-up entrepreneurs fail to resist the repeated promotions for new products and, as a result, over-capitalize their business to the point that it is impossible to make a profit. Keep your spending minimal, and make purchases only after you begin to bring in profit to your business.

4. Set up your daily business work plan Your success will be born from your work processes and planning. A good idea would be to have a schedule set up with define working time-lines. Within those time-lines should be a defined "things-to-do" lists for that day. Hold yourself accountable for performing your daily work tasks. As you go and grow, you will become more proficient in all your work tasks, and your business will show results of your labor with income.

5. Seek advice and continue learning processes When you are new to entrepreneurship and running a successful business online, there will always be questions. It is to your best interest to seek free advice from experienced and willing marketers that you will meet online. During your start-up you should be keeping an eye on your expenses. It will be necessary to refrain from going into an expensive training course, or joining a training membership. There are many experienced and proven mentors who are willing to share some excellent advice and support for no charge. Social networking sites will have knowledgeable and helpful people who can answer questions and offer support during your first few months. As far as learning business strategies and entrepreneurship principles, set up time every week to perform some research by using the search engines to locate content that will further your business education. Once you begin turning a profit, should you need specific training, then you can fund your education with your business profits.

Starting a business on a shoestring using unemployment checks can be done as long as you make logical decisions, obtain only what you need to get started, then watch your expenses while you grow your business into a successful, fruitful venture.

Learn more about starting and successfully running an online business by checking out more educational reading on Dr. L'Amour's blog [http://creating-internet-income.com]