Identifying Your Perfect Business

Choosing the right business to start is a very important aspect of business ownership. If you choose the wrong business you may pay for it with your life. No, you won’t die. But you might wish you were dead. Nothing is worse than having to do something every single day that you hate. Alternatively, you might choose something that is not profitable, and due to poor research or planning you waste a lot of time and money starting something that never had a chance in the first place.

Choose a Business You Understand

If you start with what you know, you will be ahead of the game. What hobbies or interests do you have today that could translate into a potential business? What topics or subjects are you passionate about that could be turned into a for profit business? Choosing a business that you already know and understand will go a long way toward creating the perfect business for you.

Choose a Business That Excites You

If you know a lot about something but it bores you to death, it might not be the right business for you. However, if you can identify something that you understand and love you’re heading down the right path. Typically, if you really know something and love something, you’ve also learned how to make it better. If you’ve identified a way to improve something that already exists, and you understand it and love it, that might be the perfect business for you.

Choose a Business Where Your Skills Shine

You might understand something, and love it – but if you’re not good at it, you won’t be successful. Sure, you can outsource your way to success in some niches, but when you’re first starting out you probably should choose a business that your skills match. Write down what skills you currently have to help determine whether the business you understand and love fit within that criteria.

Choose a Business Where You Can Earn Money

There are lots of great ideas that are so focused that you simply won’t make enough money. Determine whether the marketplace exists for your idea. Also, can you realistically finance the beginning of your business idea for an extended time without earning any money? Can you work at your current job while you start your business so that you don’t have to get any outside money to make it work?

Choose a Business That Fits Your Lifestyle

Do you want to spend more time with your family and friends? Do you want to travel a lot? Are you okay with having to work 14-hour days, nights and weekends? Finding a business that matches the lifestyle you want to obtain will go far in helping you become not only successful but also happy with the success.

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Unless you want to work until you drop dead, it’s imperative that you think long and hard here about when you plan to stop working. What is your exit strategy? Do you want to build a business that you will sell to investors, take the money and run? Do you want to build a family business that your children will take over? Do you plan to build a business that disappears when you retire?

There are no right or wrong answers here. Choosing a business that makes you happy, earns you the sort of money you need to earn, and lets you stop working at some point are essential choices that you will need to make if you are to find the perfect business for you. The answers are personal in nature and dependent upon your passions, needs and desires. The important thing is that you give it some thought before you get started.

 

 

Increasing Traffic On a Budget

The volume of traffic an online business receives directly influences it’s success or failure. The more traffic a site gets, the higher percentage of potential sales there are. In days past, it was fairly easy to gain traffic through forced link building methods and buying cheap links. Today, most of those methods don’t work and can actually have a negative effect on your business. Instead, you will want to focus your attention on natural link building and the great thing about this method is you can do it with little to no budget. Here are a few cost effective ways to increase your website traffic.

Social Networking – It’s free and takes very little time once you have everything set up. The key to using social networking to build traffic is the way you interact with your followers. It isn’t enough to just set up a profile with your business information. Nor can you post updates but never respond to comments. In order for social networking to work for your business, you need to have a compelling profile, interesting posts and you must interact with your followers.

Blog Commenting – Again, think natural traffic. Blog commenting doesn’t mean spamming blogs with irrelevant comments with links to your site. Nor does it mean commenting on blogs that have nothing to do with your industry. To get the most traffic from blog commenting, you should first locate active blogs within your industry. Look for ones that have similar beliefs as you. Then follow that blog, get to know the content and post appropriate, relevant comments when you have something note worthy to say. "Great post! I agree with what you said" is not an appropriate comment. Remember, your comments are a reflection of you and your business. If your comments are junk, people will naturally assume your business is junk too.

Guest Blogging – Providing well written content on someone else’s site is one of the best ways to quickly grow your traffic. Guest blogging not only helps you build traffic, it also helps to establish you as an expert and it allows you to build relationships not only with website owners where you guest blog but with their audience as well. Before you start writing your guest blog posts, consider how your posts will benefit the other person’s business and how they will best benefit yours. Sometimes your posts may be more beneficial to the host blog offering great information with only a reference to your business.  Other times they might talk more about your specific thoughts, services or findings and include links to resources and such on your site. If you plan to write a series of blog posts for someone, consider mixing your posts so both you and your host will have equal benefits.

Affiliates – Having an affiliate program means letting other people do the hard work for you and you only pay for results. For a percentage of sales they send your way, affiliates will drive traffic to your business. Starting an affiliate program isn’t hard and it doesn’t cost much. You can start out small and build your affiliate program up as you go along.

These are just four ways you can increase traffic with little or no budget. By creating goals and planning ahead, you can quickly see great results from the above methods.