Online businesses are of various types and you can go to any level based on your expectations. You can simply build a small scale web site / blog or even go beyond that to build an ecommerce web site. It is almost same like the real world business and the seriousness depends on either you do part-time or full-time or based on your passion too. However, when compared to real world business, you can easily grow an online business to great heights. All you have to do the right work every day and stick to your goals n plans that leads to success. Not all businesses are similar, few takes time to grow and other type of business grows rapidly.
One example will be, if you are entering a matured or saturated market, it may take time – at the same time, if you are entering a fresh and demanding market, you may grow faster – you can understand more here.
The market and its demand plays a major role in deciding the success of your online business. In this article, i will take you through those online businesses that takes time to grow and helps newbies to decide, whether to get into such businesses or not.
Community based Online Businesses (Forums/Networks).
Building a community based business or building a community around your business is one of the toughest game and it is one of the great Internet business. It takes lot of time and you have do lot of hard work. The reason being, you could not make it with 1 or 2 users – it depends on the “volume of users” that you bring into your community and how far you are keeping them active.
In general, it is a slow process – the growth rate depends on the “value addition” and your “marketing efforts”.
Building a Product based Business.
Starting from an idea, developing a product, releasing to the market, marketing that product and finally, driving sales – this lengthy process is Product Building.
It is a challenging process that even i am doing today. I have the product ready in hand, the AffiLinker Affiliate WordPress plugin and now i am in the stage of marketing it. The whole process is time consuming unless you have a team to work.
I developed AffiLinker my own, right from ideation to coding…it took almost 4-5 months to release that product. Now the greatest challenge is to make it win the market. I see like product building is a slow process to myself. However, once established the returns are really huge and money comes to pocket every hour 24×7. It mainly depends on the product’s uniqueness and the marketing effort. So beware of before you develop your own product and see whether you can make it or not…
Learn how to work once and make money for the long term ? which explains product building in more detailed way.
Now How you can grow it faster ?
I see like these are two major type of online businesses that takes time to build. At the same time, the returns are really huge from these kind of businesses. Now the question comes to my mind is, how do you make all these process faster and get into the rapid phase of growth.
Have a Plan and Stick to it.
Planning is the key factor that helps to minimize all your hard work. In fact, it helps you to work smarter. Device a plan and see how you can do strategic development of your business right from start up to reaching the heights. Have short term plans and define what are all your tasks, the need for a team, the exact steps to grow – forecast every step before you do and measure the outputs once done. More important, stick to your plan and follow it strictly…
Setup Reasonable Bigger Goals.
Goals are the driving factor that helps to energize your work and become productivity. Have reasonable goals at the same time, have it bigger. For example, i have the goal to sell 1000 copies of my WordPress plugin by end of this year. I am not working full-time, even then i am planning my time to take the right steps every day. Definitely, i will achieve the goal, at least to 75% – let’s see how it goes.
In my experience, by working part-time for my online businesses and i felt building a community based business – building a product based business are the most time consuming process that needs dedication and strategic planning…