What You Need To Build A Successful Business Online
Have you ever wonder why some people are able to progress faster than the others when building a successful business online ?
If you are thinking that you need a double degree or super rich dad or uncle to help you get started, then my answer to you a big NO.
Many wealthy businessmen such as Bill Gates, Richard Branson and Warren Buffet are not born with a silver spoon in their mouth.
Besides their intellectual capital, one of the factor that differentiates these entrepreneurs from the rest is their ability to improve their skill sets over time.
In a quote found in The Investor’s Field Guide blog, the writer shared a quote from Warren Buffet about the keys to success.
Mr Warren Buffet highlighted that the key to communicate is the key to great success. He said without good communication skills you would not be able to convince people to follow you, even though you see over the mountain and they don’t.
10 Skills You Need To Build A Successful Business Online
When it comes to creating a profitable business online, there are some skills you can use to help you to build a successful online business.
Let us take a look and explore these 10 skills to help you improve the chances of having great success business online.
1) Ability to Plan
When starting a new business , it is important that you allocate some time to plan the layout of your business.
Without proper planning in running an online business, you will be directionless when problem arises.
Having a detailed plan allows you to see things from different perspective. You will be able to come up with solutions fast.
If you fail to plan, you are actually preparing to fail.
To begin with, you can always write down your goals and vision. From here, you can break down your big goals into smaller actionable steps to get started.
2) Commitment
Commitment by definition is your willingness to invest your time and energy into something you believe in.
To have a successful business online, you will have to stay committed in your efforts to make sure that your business grow over a period.
An easy way to stay committed in your business is to adopt a positive outlook.
With a positive attitude towards growing your business, you will be able to keep yourself motivated by learning to adapt to changes around you and your environment.
3) Integrity
Integrity is often reflected in being honest and have strong moral principles.
When you are promoting your products to your audience online, you do not want to sell any products for the sake of selling.
It is always good to highlight the pro and cons when reviewing any product online.
The key to acting with integrity is to understand your personal values when sharing your opinion with your readers.
You do not want to act without integrity when building a successful business online. This will cause permanent damage to your business in a long run.
4) Decision Making
Running an online business requires you to make decision from time to time.
The way you make decision will eventually determine the success of your company.
When you are able to make decision effectively, you will be able to control the progress of your business as well as the speed on how fast you can grow your business online.
Good decision-making often involves weighing the alternatives available and weighing the consequences before coming up with a decision.
5) Improve Productivity
One good way to improve productivity is to have a clear set of goals.
Instead of setting big goals that may be too ambitious to achieve , you can simply break your big goals into small actionable steps to bring you one step closer to your goal.
Productivity begins when you understand what is required of you. You can keep everything as simple and easy to understand.
Remember to reward yourself by going for short breaks that you deserve.
6) Time Management
Running a profitable internet business requires you to have good time management no matter what your life circumstances is .
Whether you have to support someone sick at home, work on a few jobs or have huge debts to pay, it is not an excuse for you not to achieve what you want.
Everyone is given the same amount of time everyday . To create the online success that you truly want, you will have to learn to make sacrifices to make your business work.
Instead of watching your favorite drama or TV show, you can invest this time in your business instead.
You will need to do what it takes for your business to succeed online.
One of the keys to good time management will be your ability to focus on what is important and what is not in your life.
Only when you set your priorities right, then you will be able to set aside time to get real work done.
7) Constraint
Having constraint in business is having a set of rules that limits the amount of options require in daily decision making .
With fewer decisions to make, you do not have to go into decision fatigue when trying to achieve your goals while working on your business online.
When there is constraint in business, you will waste less time doing the unnecessary. This way, you can become more productive.
8) Discipline
Having discipline in running an online business is all about getting things done.
When you exercise discipline in your business, you will have the power to transform your business for the better.
Having good discipline means you can complete the tasks that you planned to do with the right productive habits.
When building a successful business online, you do not need to be the smartest to do well, you just have to be more disciplined from the rest of our competitors to stand out in the long run.
9) Focus
You can be a very focused person in building your successful online business but yet achieved no results at the end of the day.
Why is that so?
In running a profitable success business, you want to make sure that you are putting your focus in the right area.
You want to make sure that you focus on areas that can help to improve the growth of your business .
Instead of focusing on too many aspects of a business, you can narrow your focus on just one or a few area at a time.
10) Failure
There is no such things as failure in business or in life, only lessons to be learnt.
When you do not achieve the success you want, don’t blame it on the elements of life. This is an excuse people used to feel good about themselves.
Instead of blaming on others for your lack of success, you can try to improve the variables in your business and make changes to correct your mistakes.
You have to take personal responsibility for your own situation to achieve what you truly desire.
If you are not doing that, someone else is always out there to out beat you in your business.
My AfterThought
Self doubt is an issue many people struggle with.
Especially when it comes to acquiring a new skill or knowledge, you will often find yourself being thrown into the “unknown”.
It is this “unknown” factor that can truly helps you to grow.
If you are able to overcome your fear from learning a new skill, you will become more resilient from the knowledge you gained .
With your new skill set, you can also apply them to your business.
Last but not least, just keep believing yourself and you will go further than you think.
Resources
How I Build My Online Business With Wealthy Affiliate
Click Here to Learn How Holly Earn Her Millions Through Writing
I totally agree with you on the issue of self doubt. Many people believe they cannot do it without trying and its a menace. Warren buffet is also right when he says one of the keys to success is good communication skills. Take an interview for instance, if one cannot speak well and command presence, then that person must’ve lost the job. A successful business online requires focus, integrity and dedication. Failure is a necessary evil. Even warren buffet himself failed a lot before attaining success. I’ll put this tips in mind because I have just started my own online business too. Thanks a lot.
Hello, interesting article you have written up here and I found it very helpful.
Building success online isn’t easy but when the right momentum and process is followed, then the prospect of becoming a success becomes higher. The tips you have listed in this post are perfect for momentum building especially planning. Without proper planning, one is destined to not make the right calls and as such, could lead to the death of the business even before it got started. I also like the part of taking a decision constantly. We are always confronted with decision making and it is inevitable to attain success. But making right ones would definitely have a better impact on the business. Great tips. Thanks for sharing
A very educating post I must confess. Generally, especially amongst young people, they believe becoming successful in life about your degree or a rich relative like you’ve said. I was a victim of that myself in my early stage of life. I paid so much attention to academics alone and neglecting other aspect which would be useful to my life. Seeing this post have given me more understanding to making my business more successful and I believe following these tips would do the magic. This is a post everyone should read and digest the contents. Thanks for taking out time to put this together.
You nailed it, very good post. I personally had to write down a timetable to help me keep track of what I was doing. Because I saw that I was not productive at all. There are so many distractions online. I can start research and get lost in something else, especially on social media. So, if you want to succeed in your online business commitment, time management, and planning have to come first. Otherwise, you will spend days and months without any good results.
Thanks for sharing.
Hallo there Cindy,
Your tips here are just mind opening. I am a person looking to be successful online and I am trying to gather as much advice as I can get on it.
I have to say the way you put things into perspective is just wonderful. There are so many skills you have pointed out there that I don’t have and which I’m definitely going to want to work on.
The simplest piece you have talked about that really hit home was the quote on being a good communicator. It’s so simple yet so profound and it gets me really thinking. Thanks heaps for being helpful and sharing your knowledge with newbies like me.
For me, commitment, discipline and time management are the most important.
I’m still struggling with time management myself and I hope to improve it with proper planning and setting of goals.
Thanks for putting up these very valuable tips.
Definitely, if you have focus and driven oriented, you will succeed.
And if you are ready to sacrifice a lot, then success is at hand!
Marita
Thank you very much. This is a great article about what you will need in order to do well in the online business world. I think one of the main things is having a long-term View because it can take time to get traffic to your website or to see results with any given marketing campaign. So that involves being able to put together your online business even if you are not seeing immediate results.
It seems to me that another big quality is being able to compete with the existing competition. Wealthy affiliate teaches the low-hanging fruit keyword method which has taught me to build my online business in competitive markets by choosing lower competition keywords.
I thought you explained everything very well in this article. Thank you! I am charged up to continue with my online business activities.
Hi! These 10 skills are important in many aspects of our life but I’m glad to read about them related to having success with our business online. I must be perfectly honest, I still must work a lot in quite a few of them. For example: time management has always been an area where I’m struggling. But it makes perfect sense that when we’re taking care of our own business, this skill is key. Dealing with failure is also a very important point. Thanks for this list!
Hi Cindy,
The first thing before I read your post, I think it’s a very nice and neat layout of your website which also enhances a better reading experience. I love it!
For the 10 skills to build an online business, I found the time management and commitment are the hardest! I remember that I told myself to do something related to my online business but ended up watching youtube videos or listening to pop songs. As for the time management, I think I might need to follow the video you added in this post for better control.
Thanks for this adorable post, cannot wait to read more from your blog!
The problem I see when most people start an online business is the concept of “If we build it, they will come”. It’s not always the case. Particularly with online business, since it is not like bricks and mortar where traffic can literally pass your front door. With online, you have to create the traffic to go past your front door. You have made some great points regarding planning and dedication and integrity. Research is a big part of the planning process to ensure there is a market of an adequate size that people will want to see (I have made this mistake myself).
Integrity too is very important. I ran my own bricks and mortar business for over 10 years and there were many suppliers I stopped dealing with when they sold product cheaper to my competitors in the same mall. Some of them couldn’t understand why I would not buy from them any more The irony, over many years all of my competitors closed and the suppliers started ringing me again. Once bitten, twice shy. One supplier I was buying over $100K of product from each year. I cut them off altogether after the third year.
I took the same approach with my customers, if I didn’t have integrity, why would they come and shop with me?
You have covered all of the headline acts as far as setting up a successful online business, though don’t underestimate the co-stars, Research is critical to success.
Hi Cindy,
May I not congratulate you on your persistence. Any person who devotes that much time must of necessity make discoveries of great value to others.
Every skill you acquire doubles your odds of success. – Scott Adams
The video you embedded is informative and very helpful. To be honest, I need to improve on all the ten skills and I can’t say I excel even on one of the skills you shared. The information you shared on this helpful post made me think more about the discussed subject.
Once I read, investing in yourself is the best investment you can ever make. By improving these skills for sure we can take our business to the next level.
Thank you for sharing this post. It’s very insightful and enlightening.
It’s great insight! As an online marketer, I absolutely believe all the 10 skills you mentioned above, are highly required. But, everyone cannot maintain all these; If everyone can do, then all will become Bill Gates, Richard Branson or Warren Buffet. But to run a profitable business, at least 3 points from the above article are must-have.
(1) proper planning, (2) Focus and, (3) hard work.
Making the right decision is also very important, but sometimes it becomes really difficult to realize which one is wrong and which one is right.
THis is a great article for those beginners who comes to the online world in search of Get-Rich-Quick. They should realize nothing is easy, and think well before jump in.