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Ideas that start a business

Whether you're an entrepreneur setting up an online business, or you already have created new products and opportunities online, you will have an idea
spark to create an idea
© RMIT University 2017
Whether you are an entrepreneur setting up an online business, or you are already creating new products and opportunities online, you will have a passion to forget your own path and make your business ideas happen.
There are a number websites discussing new online business start up success – most suggest that over 90 percent of new online businesses will fail, and often within the first 120 days! But what about the statistics for new startups? For every failure startup, there is also a new startup opening their virtual doors somewhere in the world! Whatever the statistics claim, they have one thing in common: not to plan will result in failure.
There is no right or wrong reason for wanting to start your own online business. Everyone who has started an online business has a story – a reason for starting.
This course will help you identify your story, understand how your dream can become a reality and how to make your online business one of the successes, and not a failure. It will highlight the importance of business planning, the factors that can affect a new business startup success and some of the resources you will want to have access to when you are ready to start your online business.
Why are you interested in starting your own online business? Maybe you want a better lifestyle and standard of living, or perhaps you want to be your own boss? There are many reasons why you could be considering taking that step to being an online entrepreneur.
Regardless of why you are going to open your online small business, one thing you can be sure of is that starting your own online business will involve a great deal of change. It is important to plan as much as possible for change so that any interruptions or setbacks are minor and you are able to focus clearly on your business.
Because it’s likely that you will be operating your new online business from home, the lines may blur between what is work and what is home. You’ll need to take steps to clearly define these two areas of your life.
Discussion
Starting a business creates change but has major personal benefits.
In the comments section, share with us why you want to start an online business.
What do you believe are the main benefits in starting an online business?

© RMIT University 2017
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Online Business: Planning for Success

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