Identify Your Objectives for Your New Online Business

What Are Your Business Objectives or Mission Statement?

business-objectiveWould you like your own online business? Many entrepreneurs dream of making money online so they can work at home around their own schedule. Over one billion websites are registered (Want to see how many are added in real time? Click here  and watch the numbers spin!) Yet only a fraction of them remain active. Even less make a decent living from their website business. So how can you ensure that your online venture will be a success?

Like building a house, you must start with a solid foundation and have a plan for how you’re going to build. It doesn’t do you any good if your foundation is built to support two rooms when you end up with twelve rooms. You’ll be mickey mousing as you go along, and that can be frustrating, inefficient, and annoying.

Before you begin, give yourself permission to dream big. Where could you possibly take your idea? Do you want to sell physical products, information products, or coaching services? Maybe you want to set up an online antique store. The sky’s the limit for what you can do. What you come up with will be your business objective or business mission statement.

I encourage all new online business owners to start with at least two notebooks and a 3-Ring Binder AND a computer folder named after your business. You will make your life a lot easier if you document as you go along.

Create a Biz Ideas Notebook. Carry this notebook with you wherever you go, because you never know when inspiration is going to strike. This is where you record your big dream and all the ideas that come to you along the way. Some of these ideas you may use right away. Some of the ideas may sit on the page for years, but the thought has been captured so when you need it, you can find it again. It keeps your brain uncluttered.

Create a Biz Expense Notebook. As you buy or order an item, document it for your bookkeeping and tax purposes. Also devote a page to each online courses you’ll take. (Your success and business growth depends on you continuing to invest in yourself and learn new skills.) Not only will you want to note the price, but jot down the URL, user name and password. (When you login to the course the first time, bookmark it in your browser’s bookmark bar.) If it’s a membership that you will eventually cancel, note the instructions on how to cancel. (Be sure to ask your tax professional if your course is a business expense.)

Create a 3-Ring Binder for your Website Vault. Just as you put precious items in a vault for safe keeping and easy retrieval, so too you’ll want to keep your website information in one place.

What to Do Right Now…

Grab a cup of coffee or tea, open a document or get out your Biz Ideas Notebook. Write down your big picture dream of what you want your business to be like and how achieving that dream will impact your life for the better.

Please share your thoughts in the comments below. It would be great to hear about your project.

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