The most frequent missing element in starting an online business
Updated: Nov 15, 2021
In this article, I will share a simple, yet regularly overlooked, factor in building a business online. Before I do, let’s make sure we’re all on the same page about what an online business is. The vision of fancy cars and crazy “laptop lifestyle” Instagram kids might come to mind, and I wouldn’t blame you for brushing off the idea of building an online business as a “scam” or a “myth” - something that all these flashy people are faking, using trust funds to pay for it all.
The truth is, those types of individuals are a microcosm of reality. Today more people than ever are making a living by selling products (physical or digital) online. From young upstarts fresh out of school to retirees, the online economy is more diverse than ever.
Maybe you’ve dabbled in selling online or know someone who has. If you didn’t see “instant success,” did you just conclude that there’s no way to make it work? Many find themselves either too skeptical of the concept or have been stung by the pain of failure, so it’s understandable why you might find yourself holding back feelings of excitement and letting feelings of hesitation take their place.
There’s an exciting phenomenon in Stock Trading that can help us understand WHY we might hesitate to explore opportunities like building a business. If someone gets into stock trading and finds themselves experiencing early success, a good trade, they are much more likely to trade more aggressively in the future. Likewise, if someone experiences a poor trade early on, they are much more likely to quit altogether or be so risk-averse that they don’t have the chance to experience any success level. Without risk, there is no reward.
The problem is that often we let emotion have control over our lives instead of logic. One bad decision (or really one good decision) shouldn’t determine our destiny. We need to understand what caused any failures or mistakes we experience and learn from them!
The same goes for building a business online.
Selling products, services, and goods online is outpacing offline sales and approaching TRILLIONS of dollars in sales. To tap into that market, we need to look at it just like we might look at setting up a physical store, with many of the same principles applying.
One element, the one I was hinting at in the title, is quite possibly the most common issue first-timers get wrong when they start from scratch. They try and make it up from scratch, doing it all themselves.
They’re so confident in their ability to figure it out by themselves that their confidence almost blinds them.
So what is the “missing Element”? Well, to put it simply, if you’re looking to do something completely new from scratch, you shouldn’t be afraid to ask for help.
Finding a strategic partner that can work with you and help you avoid the mishaps that they’ve already overcome can be a powerful way to prevent those common early mistakes.
For example, imagine you were trying to make a pizza from scratch. Maybe you have all the right ingredients, the flower, tomatoes, toppings, water, cheese, etc., but if you don’t know when to use which component and how to combine them correctly, chances are you’re just going to make one giant mess!
Wouldn’t it be great if you had a chef in the kitchen to walk you through the process? Someone to point to the ingredients and tell you when and where to add them. Learning from their experience would save you countless hours of trial and error.
Building an online business isn’t terribly complicated, but neither is a pizza, and you can indeed figure it out on your own… but man is that the messy way to do it!
I want to invite you to watch a video where the exact ingredients are mapped out for you on how an online business works, and many different examples of what it takes to create a profitable one from scratch!