Written by: Victoria M. Parham, retired Army wife and veteran
One of the most challenging aspects of getting a virtual business up and running is the pre-launch phase, which includes lots of research and planning.
Below are ten tips to help get you up and running quickly.
Tip 1. Choose the type of service or product you want to offer.
Tip 2: Certify that you have adequate knowledge, skills, ability, and industry experience.
Tip 3: Lock down your business niche (your market) and specialize in two to three core service or product offerings.
Tip 4: Evaluate how much time and energy you have to commit to getting your virtual business launched. Be honest!
Tip 5: Identify who your clients are and how you will reach them.
Tip 6: Ask yourself the hard question: Is there a need for my service(s) or product(s)?
Use the following to make a true assessment: a customer, or a prospective customer, has to have three things: Need | Money | Authority | and all three must be present or else you’re just wasting your time.
- Need – Do they need it – that is, do they have a problem which they recognize as needing to be fixed, for which your service or product is a good possible solution?
- Money – Do they have money – if they do have the need, do they have the budget under their control to spend on your service or product?
- Authority – Do they have authority – that is, do they have the organizational power to make the decision to buy your service or product, and, this is separate from having the budget itself.
Tip 7: Give serious thought and consideration to your budgetary constraints, projected expenses, expected income and how long you can “float” until your business is generating income on its own; work on developing your online (virtual) presence; purchase domain name(s).
Tip 8: Develop a business plan, action plan or plan of action and review it often to manage company growth.
Tip 9: Get all legal and financial areas in order prior to securing your first contract or client; examine your equipment, software and virtual office space for maximum productivity.
Tip 10: Market your service(s) or product(s) at every opportunity; work on establishing yourself as an industry expert; start your marketing efforts locally.
After launching your virtual business, consider joining one to two professional organizations, they can be local and/or virtual, doing so will give you the opportunity to network, build camaraderie, self confidence, and a personal support network.
About the author:
Victoria M. Parham is a (retired) army wife, veteran, talk radio host, and Career Strategist. Propelling people to reach their greatest career potential.