Online Entrepreneurs: 4 Things You Should Be Aware Of

By Deanna Bonaparte

A great advantage of being an online entrepreneur (who relies on e-commerce, rather than a brick-and-mortar presence) is the ability to work whenever, wherever, and however. This might suggest that you’d have greater flexibility for family and leisure activities, but the truth is that online entrepreneurs are in control of their own failure and success, and this can become very daunting very quickly. Here are 4 things to note before you become an online entrepreneur.

No Such Thing as Personal Space
As the captain of your online venture, work can become something that seeps into an online entrepreneur’s personal space. You could be picking up phone calls at the most inconvenient of times, and responding to emails over the weekends and during public holidays – because an online business never shuts down. In addition, have I mentioned that medical certificates (MCs) are extraneous and irrelevant?

Don’t be Afraid to Take Risks
The old adage goes: Take risks, for it is only in uncertainty that the most beautiful creations are born. Doing what is risky is certainly not easy, as your customer base is by no means guaranteed and it’s easy to be crowded out by your fellow online entrepreneurs.

For instance, take the invention of television. At no point did Philo Farnsworth go, “Wait a minute… a television that scans and transmits pictures? Nah, people would soon get tired of staring at a plywood box.”

Keep in mind that the first seed of risk you plant might actually spurt the growth of what could turn out to be a giant evolution. This, of course, goes for all businesses – online or offline. Being willing – even eager – to embrace change is a competitive edge for any entrepreneur, and even more so for online entrepreneurs, where trend shifts are inevitable.

Have Skills, Even Those That Don’t Kill.
Organisational skills will become a vital necessity once you’re the boss of your online business – even things as mundane as the regular filing of documents (never thought you’d need to file invoices and receipts with a business over the Internet?), as you’ll find out just how many nitty-gritty details are required to properly run a business. After all, every minute cell makes the skin.

Reading up and learning new skills and techniques is the key to survival in the World Wide Web. Online entrepreneurs have to be on their toes constantly to look for ways to boost their online visibility and sales (e.g. via banner slots or electronic mailers), and this is where your writing skills will come in handy for marketing and public relations purposes.

The Importance of Who You Know
Expanding your professional network is one of the greatest assets you could add to your online business. As they say, it’s not about what you know, it’s about who you know. Customers and investors are more inclined to entrust their capital to an entrepreneur that they already know and have faith in. Inflating that circle is an on-going process, and every entrepreneur, at some point, has to start somewhere.

All in all, no words ring truer and wiser than “you reap what you sow”. All businesses, online or offline, demand commitment and a positive attitude, and success doesn’t happen overnight. When those two stars do align, you, the online entrepreneur, can expect to reap great rewards.

What makes a brilliant online entrepreneur? Share with us in the comment box below!

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