5 Things I’ve Learned About Running An Online Business

So what have I learned? Well here’s a few things I’ve learned:

Focus;

Focus is important. Before I started my business I used to do a lot of surfing. When I came home from work I’d spend an hour or two surfing different sites and reading the posts. No More! Time is crucial and scarce. I have so many tasks to perform every day to keep the business going that I no longer waste any time. I focus my time on all the essential things I need to do to move the business forward. Time, I’ve discovered is the most important commodity we have and we can’t afford to waste it on mindless surfing. If it’s not helpful to my business I don’t do it. Don’t get me wrong I have my free time where I’ll pick up a good book and relax. During business time however I squeeze every last second out of the time I have available to add value to my business.

Reinvest

I have not, so far taken anything out of the business. Every penny I make I reinvest into new stock. This has meant I have increased my stock from the first few items I started with to hundreds of products. I also have plenty of money sloshing around my business account. Everythimg I make is reinvested in adding value to the business. I’m looking to invest in a good stock control system to make the process of running the business faster. Money is the driving engine of business so keeping it in the business is important in my opinion. The profit will come later.

Get Out Of The Comfort Zone

I’ve discovered it’s so easy to reach a level and get comfortable. To move forward you have to increase you goals. Think big and go for it. Set your goals high and you will stretch yourself to achieve them. Set them too low and you will get stuck in a rut and never progress. Keep driving forward. If you’ve got a monthly turnover of £3000 re-evaluate and set it to £6000 then push for it.

Get Some Business Systems In Place

What do I mean by business systems? Anything that makes it easier to sell your products, take payment and deliver them. My business is simple. I sell art products. When a customer buys something from me I want to process the order fast and efficient. So I invest in a good software package that keeps track of everything. I have an account with royal mail so I can print address labels off direct and pay for them online. This means that I don’t have to waste time in the post office. I keep databases to make record keeping easier. As my business grows I need to come up with better and more efficient systems. I’m always on the look out for anything that will make the business run more efficiently.

Constant Learning Is Essential

Everything in life is moving so fast we need to keep abreast of developments if we are to survive and grow. Close your mind and your business may soon follow. We need to read, read and read about new marketing techniques, website optimization new products the list is endless. I’ve always been a big reader but I’ve learned to speed-read to assimilate fast all the information I need to function in the business world. Mt pleasure reading is different ffrom my business reading. I’ve started to use a software program to help me speed-read books or articles I consider essential to grow my business.

Well these are just a few of the things I’ve learned over the last year. My biggest lesson though is to use time productively. Make use of every second of your business time. The hours just fly past, but I get a great sense of satisfaction when I know I have used my business time productively.