Previous post on how to setup an online business in 2014 at https://www.nairaland.com/1580736/how-setup-online-business-2014

What Are You Good At?

The question, 'what business should I do online' seems to be a common one. My best answer to that is, 'IT IS IN YOU'. Which means that the best ideas that you can generate are found in what skills, passion and interests that you already have.

You owe it to yourself and your customers to build your business around your skills and interests. By working out what these are, you can both eliminate ideas that fall outside that list and use it as a springboard for generating ideas.

The best formula for failure is 'to start a business around something you do not have interest in or knowledge of'

Skills Every Business Owner Needs

According to Michael Gerber, author of the E-Myth series, businesses are built on three roles. In the case of a small business like yours these three roles might be fulfilled by a single person.

1. The entrepreneur - he/she is the idea generator. An entrepreneur needs to be creative, innovative and on the lookout for opportunities at all times.

2. The manager - he/she is the organizer. The manager needs administrative, organisational, marketing and communication skills.

3. The technician - he/she is the executioner. The entrepreneur thinks up the idea; the manager sets objectives and put resources in place to achieve the objectives; the technician builds the product.

All these roles work hand-in-hand and like I said, it might be fulfilled by just one person. These are the roles I am currently fulfilling in running my website, www.see-my-life.com . For your business to be successful, you need a right balance of these three roles.

Action Steps to Take Away

1. List your current skills and interests
2. Which of the skills within the above roles do you have at present
3. Which are you prepared to learn
4. Which do you have no interest in

TIP: Some of the best online businesses are partnerships between individuals with different skill sets.


Next post - Define Your Business is at https://www.nairaland.com/1584674/how-setup-online-business-2014#20742632