How To Start A Business Online Part 2

Ok…so you are still trying to decide what type of online business to start. The opportunities are limitless, but you must understand the importance of building a business around your skill set, experience, and passion. By getting a clear picture of what these really are, you will end up saving yourself time and money and propel yourself towards an online passive income business geared towards your strong suits.

Don’t Waste Your Time

I mean, c’mon, why waste your time and effort building a business that you have absolutely no passion for? I have been down that road so many times as I’m sure you have read in my post “How To Start A Business Online”. I cannot count how many hours and dollars went into trying to start “this” and “that” without any success at all. Sure, it may have been exciting for a moment or two, but once the excitement died down, so did the business.

Major Roles To Play

I really want you to avoid wasting countless hours and dollars starting “this” and “that” and focus on building your online business around your strengths. Now, an author named Michael Gerber (E-Myth series) raises a good point by stating that business owners should fulfill three roles:

  1. Technician – This is the person that carries/fulfills the daily duties to get the job done. He/She is the one that works on the product. If there were no technician in the business, no product would get built and delivered to your customers. On the flip side of things, without the manager or entrepreneur, the technician might be enticed to “run wild” as a result of not having any focus.
  2. Manager – This is the person that puts the plans in place and organizes what needs to be done. He/She also is the primary point of contact for the business and is the “middle-man” when it comes to dealing with your customers. Thus, this person should have very good communication and negotiation skills.
  3. Entrepreneur – This person is the “brains” of the business – intuitive and an idea-generator. He/She provides the vision for the business.

Decisions, Decisions

You need to decide which role you fall in to. Granted, most will fall into the role of a technician. Why? Most of us started our business because we developed a skill or product that we felt could provide us with a comfortable living. For years we were utilizing our skills to make money for our employer, but a thought came to us that we could take those same skill sets and use them to make money for ourselves. Unfortunately, for most of us, generating money or sales does not always translate into profitability. And that’s where the manager steps in with his/her knowledge or real world experience of business finance. Now, the manager would have no use for his profit/loss statements or communicative skills if there were no customers. In steps the entrepreneur with his/her ability to generate ideas for products or services that customers either want or need. Each role is in some way tied and dependent on the other.

I understand that we may not have the skills to fulfill each role, but if we are unable to outsource a role that we are weak in, then we absolutely must take the time to develop our skills in those areas. Whether it means we must take some courses in business management or develop a technology or gain a better understanding of how to become an idea-generator, then we/you must do it.

Next Step:

Be honest with yourself and identify which role fits your strengths (technician, manager, entrepreneur). For the role(s) that you are weak in, you have two choices: 1.) Consider partnering or outsourcing that role or 2.) Take classes to better your skills to fit the role(s).