12 August 2010 ~ 3 Comments

Starting Own Business Online – Identify the Resources

Business resources

Although an Online Business may require fewer and cheaper resources that a traditional business, there are some resources you will need to achieve your goals with success. These resources fall in three main categories: technical resources, educational resources and financial resources. Additionally, you will need other resources category. They are inherent to yourself and usually you do not know you need to acquire them or that you already have them.

The resources that fall in three main categories identified above are resources you can identify effortless and that you can acquire or learn with more or less difficulty. The resources you need that fall in the additional category are difficult to identify and, if you do not already have them, may be hard to acquire.

Technical resources are maybe the easier to identify and to acquire. Since you are developing an online business, is clear you will need web hosting, domain names, auto responders, article submitters, word processors, html editors, and other tools you need to create, publish and marketing your content.

You may need more or less of those resources, depending on the business model you planned. You will need more technical resources for an online store than you need to create an informational blog. Your plan, that must detail your business model, will indicate clearly which technical resources you will need to develop your business.

Educational resources are those you need to acquire to implement your plan. If you plan to get traffic to your website using SEO then you need to educate yourself about SEO. If you plan to create killer sales letters or sales copy, you need to educate your self about creative and effective writing. If you want to develop your website by yourself, then you need to educate yourself in HTML programming or PHP programming or whatever language you chose to setup your site.

Once again, your plan and your business model must indicate what you need to do, thus indicate which resources you need. If you already possess those resources, you are ready to move forward otherwise you must educate yourself. Do not underestimate the need for education. Even if you outsource some of the tasks you need to do, you must have the basic knowledge necessary to evaluate if the work is well done.

Financial resources are self-explanatory but may be difficult to acquire. You will need at least a little amount of money for basic services, like web hosting and domain registration. It is true you can start without any money at all, but if you plan correctly to expand your business, eventually you will need to spend money. If you plan to outsource some of your planned activities, you will need money. In addition, if you do not have the necessary money, it may become difficult to grow your business.

If you plan correctly, you will start by generating small amounts of money that you will use to re-invest in your business. You may need to write 5 articles for traffic generation by yourself in order to generate the money you need to outsource massive article creation. The cash flow must permeate your business plan and you must control it effectively.

The resources listed above will vary according to your specific plan. Create a rolodex with the resources you need, where to find them and which you already have. Use a spreadsheet to control the cash flow and manage the financial resources.

Finally, the last set of resources. Those are patience, dedication, motivation, resilience, desire, passion, commitment, faith, optimism. The amount you have of each of these resources will influence your success, your fun, and your wealth. If you do not possess any of these resources, it may be difficult to acquire what you do not have. Nevertheless, is not impossible.

Before I’ll post the last article on this series regarding the numbers management, I’ll get into more detail on the this last set of resources. Stay tuned or subscribe to my blog to know when it will be released.

Cheers

Jorge

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3 Responses to “Starting Own Business Online – Identify the Resources”

  1. Peter Beckenham 15 August 2010 at 9:38 am Permalink

    Hi Jorge,

    Is it my system or is there a problem with this post.

    I was really looking forward to seeing what resources you were going to identify in order to work successfully from home.

    Can you let me know what they are via email if it’s a problem with my system? I would really appreciate that as it’s a topic that truly interests me a lot.

    My best wishes mate
    Peter Beckenham´s last blog post ..Traffic Explosion…You Can Do This!

    • Jorge 15 August 2010 at 12:57 pm Permalink

      Hi Peter

      Oppsss…. I’m terrible sorry, this post was planned to go live on the 12th of August but due a lot of extra work on my offline business I wasn’t able to get it ready in time.
      Please wait a couple of days for it, although I believe that you, as a MWA student, already know what resources you need 🙂

      But the post it’ll be here soon.

      Cheers

      Jorge


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