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Online Business Courses – Do I Need Them to Start My Online Business?
Deciding to start an online business is a big deal. If you really want to take control of your financial life by owning your own business, you need to take it seriously.There are very specific skills needed to start and run a successful online business. Fortunately, all of those skills can be learned online. The basics can be learned for free, and more detailed instructions are available for a very reasonable cost.Traditional Business CoursesThere are traditional online business courses that teach basic information about running a business. It is information you could use to build a “brick and mortar” business or an online business.You should expect to learn things like:How to evaluate the potential of a business
How to write a basic business plan
Legal necessities of licenses, permits, copyrights, etc.
Business loans, budgeting, cash flow and accountingWhile all of these things are important to any business, they will not make it clear to you what you actually need to do in order to start and run a successful online business.Reasons People FailThere are two reasons most people fail when they start an online business.The first is because they make avoidable mistakes. When they make too many mistakes early in the process, they become discouraged, and then they quit.The second reason is because they get overwhelmed by what is commonly called “analysis paralysis” and can’t decide what to do next. Then, they get discouraged and quit.The best way to avoid these two mistakes is to invest in online training that explains the process of how to make money online while giving you the specific skills you need to run an online business.Online Skills TrainingLearning online has many advantages. It can save you time and money while giving you the ability to learn at you own pace. One of the best reasons to learn online is you can learn current, relevant information almost immediately.If you want to be successful in the online business world, you need to be self-motivated and have a high level of self-discipline. You also need to have a wide array of current business skills. You need to understand how to manage your time and projects, create your website or blog, monetize your site, and market your business. I know that must sound overwhelming, and you are probably asking yourself, “How do I do that?”Membership Training WebsitesThe way you learn to do those things is to invest some time and probably a little money in online skills training. I believe that the best way to get good training is to join a membership site devoted to teaching internet marketing.The best sites will offer you step-by-step plans, video tutorials, articles of information, and a members-only forum that allows you to interact with other people trying to learn and build a business just like you are. Additionally, with a membership site, as opposed to a “training package” – new information will be added to the site regularly, over time so that you can continue your learning process and improve upon your skills as you move forward with your business.Success Is Within Your ReachIf you get the education you need, and are willing to put in consistent work on a daily basis, you are almost assured to build a successful online business. There are proven methods that will make most of the tasks required for internet marketing simple for anyone to accomplish.As you continue to learn and develop your skills, you will be able to achieve the results you desire. You will realize which strategies and tactics work best for your business and your personal style. Then, you just need to keep doing them and improving on your implementation.
A Novel Way to Get Small Business Financing for Your Venture
My neighbor happens to be one of those men that you’ve always heard of but have never actually seen. He had a great relationship with his wife and two kids until one day, his wife suffered a stroke. He took loving care of his whole family by himself – while he held down a well-paying executive’s job at Ford. And then, his parents, he discovered, were getting too old to actually live by themselves. Almost anyone in his position would have thrown up their hands in despair and put their parents up in a nursing home. Not him. He decided that he would quit his job, and actually start a home care franchise on his own. This way, he figured he would be able to take care of his family’s growing needs for intimate help, while still staying solvent. He had just one problem. Taking care of 5 people this way for a couple of years, he had spent every last cent of his savings. He needed at least $100,000 in small business financing to set his home care franchise up. How was he going to do it?Actually, I was able to help him with what some consider to be a novel idea – I told him that he could fund his business by withdrawing as much as $150,000 from his 401(k) account with Ford. I told him that if he did it correctly, he wouldn’t even have to pay an early withdrawal penalty.People do get to doing this for small business financing these days. It’s called ROBS to the technically initiated – or ROllover as Business Startup. About one out of six people nearing retirement apply for a ROBS withdrawal each year to fund their business with.Of course, the IRS isn’t completely crazy about this. Your 401(k) has generous tax benefits; when you just go in and raid your retirement account, they feel you might do this to exploit the system. They’ve decided to scrutinize these applications especially closely these days to make sure that people really do use their retirement withdrawals for what they claim they use them for. If you plan to apply to withdraw your 401(k) for your small business financing needs, you’ll find that you stand a chance of getting audited by the IRS.The good news is though that the IRS almost never finds anything amiss with these audits. Usually, to make sure that everything’s done the way the IRS approves of, new business debutantes take the help of a financial services company to handle their 401(k) application and to start their business and everything goes smoothly.A financial services company would be able to really help the small businessman start off in a professional manner. For instance, in the case of the home care services businessman above, I asked him to start his own corporation, and make it so that his corporation had its own 401(k) plan. He then got the 401(k) money he had at Ford and rolled it over into the 401(k) plan in his new corporation. And then he used that money to invest in shares in that very company. That way, he got his retirement money to fund his new venture. This can be a great way to go about it.