Part-Time Online Business Myth #1 – Starting One Is Easy

This is the most popular myth and unfortunately, it isn’t true. Starting an online business can take a lot of time and it can take a lot of effort. You need to do a lot of research and weed through tons of “expert” opinions. Furthermore, you have to engage in a lot of trial and error-especially when dealing with search engine optimization and other forms of Internet marketing.

Don’t get me wrong. I am not trying to discourage you from having a part-time online business. It has a lot of long-term income potential. You just have to know what it is that you’re getting into. Just about anyone can start an online business, but not anyone will succeed in doing it.

Part-Time Online Business Myth No. 2 – The Market is Already Too Saturated

There is a lot of competition out there but there are also millions of potential customers searching the Internet. Think about selling a niche product above everything. The market is not always saturated for items that are for a highly specific audience.

Case in point, don’t try competing in the “making money online” market. It’s not worth your time at all and will probably only earn you pennies.

Part-Time Online Business Myth No. 3 – I Can Get Rich in a Month

Don’t believe in the Internet Marketers that promise you the sun, moon, and a million dollars. The World Wide Web does offer a lot of opportunities for making a money but an online business isn’t a lottery ticket. This is probably one of the most damaging part-time online business myth because people often give up after a few months because they’re not getting the expected results.

It’s impossible to get rich in a month. The more realistic timeframe is six months to a one and a half years. At this point, most of you will just be driving traffic to your site. Getting rich follows soon after as long as you have good system on your website.

Part-Time Online Business Myth No. 4 – If I Build It, They Will Come

I’m talking about websites, of course. Unfortunately, a lot of budding Internet entrepreneurs believe that they just need to upload a website on a server and customers will find them almost instantly. Driving traffic to your site is a lot of work. You need to submit your site to the most popular search engines and directories. You must also drive traffic to your site by posting on forums and writing articles. You may also need to spend some time doing offline marketing.

Building it doesn’t ensure that your buyers will come and buy. Like a traditional business that advertises in newspapers or through flyering, you have to advertise in its online counterparts to drive buyers to your site.

Part-Time Online Business Myth No. 5 – I Should Quit My Day Job

You might end up being surprised how long it takes to become profitable enough for you to earn as much as you’re earning in your 9-5 job. There is a reason why it’s always best to start an online business on a part-time basis just to test the waters. Unless you are certain that you have saved enough money to withstand a potential setback, keep your day job. Realistically, you should have saved enough money to tide you over for 9 – 12 months.

These are great myths and lessons to heed but I would like to offer two more from my experience.

Part-Time Online Business Myth #6 – I can do this all myself

This comes down to the question – “what did you get into business to do?” because if you do the things you suck at and think you are saving money, you will end up being a control freak and not do things that generate revenue to keep you business. For example, if you are a strategic marketing consultant, you are not going to build your web site, you hire a web designer.

Part-Time Online Business Myth #7 – All clients love you and you love them

Many people go into business with the expectation that everyone will be a happy client that pays their bills on time. While many clients are great and may be part of why you are building your own business, others will stiff you and run. Most companies set aside a certain percentage of recievables (money owed them) to be written off. Many part-time and new full-time businesses learn soon enough that you will not see money exactly on schedule like you have with your day job. In many ways, doing a part-time business can really give you a feel for the revenue cycle and how many dead beat clients you will have at any given time.

Do you have any other Myths that need to be explained and dispelled? Please discuss it in the comments below.

After browsing Ramon’s informative site I had the opportunity to ask him some questions:

Connie: What do you see as the biggest challenges that small businesses face in the economic downturn?

Ramon: I think keeping their current customers & finding how to add value with their current customers. Getting new customers & cash flow will also be factors to consider.

Connie: Do you feel that brick & mortar businesses should have an online presence?

Ramon: ABSOLUTELY. There’s no question about it. They must and it should be HIGH quality.

Connie: What advantages do you feel that brick & mortar businesses have by being online?

Ramon: They can better service existing customers (online coupons, basic contact information; buy online and get in store…etc, etc, etc)

Connie: Are there any opportunities that they should be leveraging in this economic downturn?

Ramon: For sure, marketing to their customers with ‘sales’ type information for some customers and “INFORMATION” (how to and etc) for other customers

Connie: How do you feel about small businesses utilizing social media tools to promote themselves?

Ramon: They must CONSIDER social media and see if it’s right for them. Social media is still a bit new but must be considered. Where are there customers? Online? If so, they must also be online!

Connie: Are you writing about those technologies & to what extent?

Ramon: I do indeed. At first social media was a “toy” or something for “consumers” but it is clearly a tool for business. It’s all about GO WHERE YOUR customers or potential customers are!

Here is a sampling of the great articles you can find at Smallbiztechnology.com:

Christmas & Thanksgiving: It’s Not Too Early To Prepare

Constant Contact Raises the Bar. Emails As Web Sites.

How to choose your Software as a Service (SaaS) Provider

There are also many helpful articles at My Solution Spot.com

Check out his blog then tell us what topics you’d like to see us write about here? What interests you?

The theme is: Sharing your Writing & Selling Your Work in Cyberspace

Our very own Shashi Bellamkonda will be presenting a session on social networking & using it for your marketing efforts.

And every registered attendee will get a 15 minute free consulting session with Andrew Bates from Network Solutions. Andrew is a senior website and search engine marketing consultant for Network Solutions.

So if writing is your passion & you’re wondering how to take it online then you should attend this workshop. More information can be found here.

This is the first part in a series on how you can put your business on the web & attract customers interested in your products & services. It’s an overview of the steps to take & I’ll cover a topic each day.

It’s like building a house & that’s the analogy that I’ll use. I’ll also include the many resources & products that Network Solutions offers to make it straightforward & customized to your needs.

1. Find a location for your house & an address – purchase a domain name

The best part about having a business online is that it’s relatively inexpensive to get started. It’s much more inexpensive to have a business online than in a physical location! I’ll take the guesswork out of choosing a domain name. Once you’ve decided on a domain name, Network Solutions makes purchasing it easy.

2. The foundation – hosting package

Every house needs solid footings to support the infrastructure. Network Solutions offers a number of options so that you’re able to start your online website off to a good start.

3. Building it – planning architecture & choosing the design

As with a house there are many ways to build a website. Network Solutions has options for every level. If you’d like to do it yourself you can no matter whether you’re a beginner or a seasoned programmer. And if you’re just too busy then Network Solutions has talented people that will do it for you!

4. Furnishing it –

content is very important

An empty house is of no interest to those that live there or are visitors. So it’s important to create information that’s of value & is relevant to your visitors. And if you keep adding more then it will give people a reason to keep returning to see what’s new.

5. Helping customers locate your house – SEO, keywords, & metatags

Once you get your house built it’s not of much value if people can’t find it. There are some straightforward things that can be done to help those searching find your site. Search engine optimization (generally abbreviated as SEO) sounds complicated but Network Solutions offers services to assist you with it. Keywords & metatags are also helpful to providing a more direct path to your site.

6. Doing business - ecommerce, paypal

It’s as easy as using a spare room for an office. Network Solutions has a number of options for setting up your site to allow people to purchase your products. They also have an in-depth article on selling online.

7. Inviting people to your house – marketing & networking

Once your website it set up & ready for business the last step is to get the word out. There are two parts to this. Network Solutions offers some great options for helping with marketing. And I’ll also give some tips on finding & networking with potential customers.

As you can see it’s relatively easy to get started. Start thinking about how you want people to find you online because that’s our first step!

Before you make your web site live you should fill it with content to make the site inviting and your purpose apparent. Every visitor is a potential customer. As you work on this ask friends to review your content.

Variety of formats

Content can be in a variety of formats. In addition to text articles, you can add images, videos & podcasts (audio recordings) and even polls. Adding white papers or e-books for customers to download provides value to those visiting. It serves as a sample of your work.

Images, videos & podcasts make your content more interesting. Don’t be afraid to explore them. As you find what works for your niche you’ll get comfortable with what is most effective for connecting with your customers.

Make it easy to share

When you create materials for your site consider where they can be put so that they can easily be shared. For example videos can be hosted on YouTube, images on Flickr, etc. When these materials are found they can ‘grow legs’ & be used on other sites which further promotes your products or resources. YouTube offers 13 ways to share videos.

Add fresh content on a regular basis

When you create a web site consider adding a blog. This is the easiest way to add new content. If you post an article 3 times a week or so it will greatly improve your SEO as well as provide your customers a reason to return frequently to your web site. Make sure that you make it easy for your readers to sign up by email or RSS. This will ensure that they’re aware as you add new information.

Make it interactive

Your customers will want to participate. Everyone is getting involved in social networks & they expect that on web sites too. If you have a blog make sure that comments are enabled. Offering your customers the opportunity to vote for articles that they find helpful & leave comments on them. If you have frequently asked questions provide a list of the most frequently read ones. If you have a product consider creating product forums for your customers to share ideas. If you’d prefer to use an outside service take a look at GetSatisfaction.com. It’s free. Your customers can ask questions, report problems & share ideas.

Content is more than just providing information. If you want to create an effective business online it will take more than just a static web site. People online now expect to have an experience & interact with potential purchases. Be creative & utilize the many methods of providing interesting, interactive content for your customers.