For all your online business building info! , 2020-02-23 18:58:49
Make Money Online using Business Systems
These days a lot of people start or want to start a home-based business to make money online. A lot them have no experience with starting or running a business. The result is that most of the businesses aren’t actually a business but are a self created job.
Instead of taking the time to really build a business (with a good business system in place); what most online entrepreneurs do is creating a job for themselves. Instead of outsourcing certain parts of their business, they do everything themselves. Most of them make 50-80 hours each week (sometimes even more hours then with their old regular job.)
The problem is that they think that “just doing the work” is the same as running business.
The difference between the “new job” and a business is that a business has certain systems in place that do the work whether the owner is there or not. A good (internet) business makes money (online) whether you’re there or not.
For instance: who writes new web page’s when you are on holiday? I bet no one. A business with good business systems in place will have a solution for this problem. A business system example could be; you have someone who writes articles for your website and some who does the website administration. The last person places the articles written by the first person. If you as business owner can go on holiday whenever you want and the work still gets done.
Take a look at franchise businesses; they have (in most cases) solid business systems in place. For instance McDonalds, they make use of procedures for everything (they even have a procedure for where and how much sauce there must be on a hamburger.) They make use of proven business systems and procedures for almost everything. When you buy the franchise rights you buy this proven system.
What to do now? How to setup business systems?
Of course this all depends on what type of online business you have and how you make money online. But for most businesses you can follow the (simplified) steps below:
1. First take a step back and look at your business. Write down all tasks there are and how money is generated. How are the tasks performed and who does the task.
2. For each task or series of tasks, write down how much money it generates.
3. Determine how much money you need to earn each week. (Note: need, not what you want.)
4. Find the two tasks that generate the least money for your business. Determine if it is really necessary to do these tasks (think about: will it harm my business if the tasks are not done. Is it possible to change something so it will generate more money? Can someone else do these tasks? Etc.)
5. Find the two tasks that generate the most money.
6. Determine if someone else can do the tasks of step 5. For instance: a task generates $15. Can someone do the task for $8-$10 and still you make enough money for step3. (Note: if someone else do the task then you are free for another task. This is also worth something.)
7. Find people to do the tasks.
8. After a month (or two) you evaluate the results. If the results are good, you can take two other tasks and find a way to do these tasks without your presence. If results are not good, then fix the problem. This is the real job of a CEO (that’s you), fixing business systems and finding new business systems to make more money online.
Tip: look at other (or ask) how they have solve certain problems and what the business system is that fixed it.
If you have followed the steps above (and everything went well) you will see (after a few months) that you make the same money with less work. Then you have a real business and not just a job!
- Make Money Online and Earning a Large Income
- 7 Businesses Perfect for Working from Home
- Make Money Online and the Need of a Business Plan
- 10 Simple Saving Tips
- 6 Tips to Set Money Aside
- Information Products Ideas to Make Money Online
- Make Money Online with a Membership Sites
- Make Money Online 13 Adsense Alternatives
- 150 Essential Business or Freelancing Tools
- Use Coupons to Increase Your Online Business Sales