my del.icio.usRecently Laid-off? How to Quickly Launch your Business Online
Women in business are growing quicker than any other sub-group, and it is the wise woman who understands that her relationship with an employer is typically a temporary one.
All of us are independent agents, we just choose sometimes to have one client (our boss), or sometimes we choose to have many clients (if we’re in business with multiple customers).
If you’re in a jam because of recent financial upheavals in the markets, please do get started right away on developing a new source of income from your own business.
If you’re looking to escape from your job and develop your own company, please do get started right away on implementing your plan to create a new business.
Here are some steps to getting started with developing your businesss. Women, unite!
We are going to support each other and share our knowledge, services, and products with each other if we’re going to thrive in the coming fluctuating economy. Now is an excellent time to improve your situation through sharing through your own business.
Here’s what to do:
1) Make a list of what you can sell.
Every business relies on sales. What can you sell?
“Sell” is such a harsh word for some people, but consider that every time you’ve dated or interviewed for a job, you were “selling.” My 2-month-old daughter is a terrific salesperson: she lets me know *exactly* what she needs, and I give it to her.
What exactly do you need? Fame, fortune, or just a way to pay the monthly bills? Figure out what you need.
Then figure out what you can sell to get that.
You have a unique talent. I’m not sure what your specific, unique gift is, but it is your God-given, inborn talent that you are able to express. What made you happy as a child? What do you do that causes you to lose track of the sense of time? Identify your unique talent. Whatever it is, it is something that only you have the capacity to do.
To brainstorm, I recommend you use Richard Nelson Bolles’ idea of putting together 12 life stories where you were actively engaged, felt pride in what you were doing, and enjoyed yourself. Then, when you review those stories, certain verbs will continually emerge. Those are the action verbs that define what you are good at doing = good at selling.
If you want to sell products, consider the price it will take to create each unit, and what the markup will be, as well as who will be your target market. Are you going to sell to other businesses? will you sell directly to other consumers? Understand the item/s you intend to sell and figure your costs to make these products.
If you want to sell services, start thinking what it is you can offer. For example, perhaps you have in-depth knowledge of a particular field. You could create a document outlining this knowledge, and offer it as an e-book. Alternatively, you could set up a community site, and offer memberships to the site to access members-only content. You could potentially sell hourly or monthly units of something that you create, like a teleconference series with optional .mp3 download, or a weekly newsletter that you create. Whatever it is, consider the cost of creating it and the likely pricing for that service.
2) Claim your domain name.
Use http://www.10khosting.com to purchase a domain name.
Your name will be your website, so it could be your given name, your business name, or some other name.
Make sure it’s easy to recognize and spell. Try and go for a domain name that’s less than three words. Domains run about $10/year. Get the .com, .net, and .org versions if available.
3) Buy economy Linux-based hosting.
You do not need extras for now. Buy your hosting package (where your domain name will “point” to). This is where your files will “live.” Hosting is about $50 - $100/year.
4) Sign up for a PayPal account. http://www.paypal.com
This is a free signup to allow you to accept credit cards online. Use this and always remember to protect your identity by never clicking on a link in an e-mail. Always return to a new browser window (this prevents you from clicking on a fake link). Always keep your password information safe.
5) Are you selling digital downloads? Sign up for an e-junkie account. http://www.e-junkie.com
This service allows you, for a low monthly fee ($5) access to store codes or uploaded files or to manage any digital downloads that require special access keys, a members-only section, or call-in codes. For example, if you’re selling an e-book in PDF format, you could upload it through this site and allow customers to pay and immediately download the link.
NOTE: If you were recently laid-off, http://www.e-junkie.com will give you a FREE ACCOUNT for a year, just send them proof of termination of your contract.
6) Claim your ID: perhaps you have a Facebook, a LinkedIn, a Twitter account?
At the very least, you can claim your own account at these places, so either your personal name and/or your business name is now “covered”. The beginning of any sale is a relationship of some sort, and you will begin by creating, connecting, and fostering relationships with other people. Some of your relationships will be business clients, some will be associates and “power partners” who will help you, publicize you, and share your story. Whatever the situation, you’ll want to setup a transparent version of yourself in the online networks so others may connect with you.
Here’s my versions:
Monica on Facebook
Monica on LinkedIn
Monica on Kiva.org
Monica on Twitter
7) Get started.
Use any number of free or low-cost tools to set yourself up on your hosting account. For example, a blog setup is available in the hosting account. Or you could download this sample file as a start for your business webpage (open it in Notepad or Textpad to make edits) then use the “FTP Client” to upload to the live site.
Your web tools create an infrastructure for you to start using as a platform to write articles and post products that share your knowledge. As you do this, you can actively start connecting with people, and you can start your networking process. There are a number of networking articles here on this blog. Consider that your network is an absolute equivalent of your ability to find new sources of revenue, jobs, contacts, and connections, and you’ll understand the importance of maintaining and nurturing your relationships.
8) Ping me.
Let’s connect with each other for more ways to work on the web aspect of your business. Once you have a business plan and a marketing plan, your website plan is not far behind (think of us if you need website development). For the most valuable return on your investment, your web presence will be the place that generates the most connections for you.
9. Get a license.
You will typically need a business license from your county to do business.
You might consider at this time if you want to start out as a sole proprietor (does not require additional state paperwork for now), or if you want to incorporate as an S-corporation, a C-corporation, or an LLC (does require a few extra steps). Incorporating gives you and your assets added protection.
You typically receive a business license while you advertise your “Fictitious Business Name” in the local newspaper. Check with your county for the guidelines.
10. Check your bank accounts.
Make sure to track any expenses that you’re incurring as business expenses (such as postage, business cards, brochure, graphic design, or web costs). Also, when you make your first sale, track it as business income. At tax time you’ll need to go over the income received and expenses incurred through your business. I encourage you to find a professional to work on this with you. I recommend Roanna at Sterling Tax in San Francisco.
That’s it! You’re in business now. You can do all the above in a few weeks.
Be sure to subscribe to my newsletter and please introduce yourself. I’d like to connect you to other entrepreneurs and do whatever I can to help you grow your business to the $10k, $100k, $1 million dollar mark and beyond.