The most common question that probably every person that I meet who wants to be an Internet Entrepreneur is, “What kind of Internet Business should I start? These people realized that doing business in the Internet is the way to go. But with the amount of options available out there, they are normally faced with a dilemma on what kind of business they should start online.
I too was faced with this kind of dilemma when I decided to be an Internet Entrepreneur. And not only did it take a good amount of research and analysis, but more importantly a lot of careful “soul searching” before I was able to choose the right Internet Business that works for me.
Allow me to share with you here the four steps that I took which helped me zero in to the right kind of business that is now currently giving me the Freedom and Fulfillment that that I’ve always hoped for.
1. Capitalize on Your Strengths – Identify an area of expertise or a skill that you are really good at.
In what specific area of expertise you are normally the “Go-To-Guy” for? Do people in your circle consult you for problems and questions regarding specific topics? Is there any particular kind of information that you would know more than a normal person? What are the skills that you possess that people will actually pay for? In what industry do you have the most experience?
Honestly answer these questions to identify these precious business resources that you already have and capitalize on them. As a complement, you can also check out my other blog post where I told the story on how I build a successful business by focusing on my strengths.
2. Follow Your Passion – Following your Passion involves considering things that you love to do. These are the kind of tasks that you enjoy spending long hours on and normally loose track of time while doing them. Ask yourself what are those things that you love to do even if you don’t get paid while doing it. You may also look back in those times when you were still in school and think about those things that you normally would love to focus and spend a lot of time on during your spare time.
In my case, I’ve always been fascinated with computers. And the first time I dialed up to Internet with my Prehistoric Pentium 486 computer, it was like “Love at First Sight”. From then on, spending long hours online in front of my computer was a normal thing.
The Internet is my passion and doing a business that allows me to spend hours online is a big treat.
3. Identify an Opportunity – So now that you’ve (hopefully) already listed down your Strengths and your Passion, it’s time to find out if you can make some decent money out of doing them. Of all these things that you’ve listed, identify the ones that would provide a solution to somebody else’s problem. Find out if there’s a certain group of people or niche that will benefit from what you can offer. This step confirms the Market Feasibility of a potential business and validates if there is actually money in doing it.
“Show me the money!” This is the popular phase in the movie Jerry Maguire. Remember this line when doing this step and identify those options that would actually make business sense.
4. Make a Difference – Lastly, consider a business that makes a difference in the lives of other people. I’m not just talking about a business that solves people’s problems and fulfills their immediate needs. Consider that your chosen business will make a significant contribution to society and make the world a better place to live in, a legacy that you can leave to your children and the future generation.
So those are the four steps that I took when I selected the type of Internet Business to pursue. This formula has worked for a lot of successful entrepreneurs. It has been working well for me so far. And I’m sure it will work for you as well.
Apply these steps and have the conviction, sense of direction, and a strong motivation to excitingly jump out of bed every morning and create daily successes in your Internet Business.
For those who missed my Seminar last year on “How to Get Customers and Clients Online”, I will be conducting the next batch on January 30. So go ahead and sign up on this link to reserve a seat. https://www.benfrancia.com/signup101/
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