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Building an Online Business – What are Your Chances?

Step Three:

Taking Stock – What Are Your Chances?

What Are Your Chances
Photo by Simone Secci on Unsplash

Your first step is to go through another brainstorming session to determine what are your chances for success.  This is your second session, so let the creative juices flow. Don’t rule out anything. Let ideas float to the surface, dredge up skills and achievements you’ve either forgotten or take totally for granted.  If you’re stuck, print out the worksheet on the following page and fill it in… which will take you even deeper into your introspective creativity.

Brainstorming Sheet for My New Business
My StrengthsMy Weaknesses
I Like…I Hate…
What makes the hours fly like momentsWhat always makes me procrastinate
Skills I have acquiredAssets I already have

When you have finished, take plenty of time to think absorb and explore your results. Particularly take note of the types of activities that make the hours fly by like moments – and the ones that leave you procrastinating and ashamed of doing so.[1]

Both of these are powerful indicators of how you feel at your core. Also factor in your strengths and weaknesses, plus your skills and interests lie.

Karen D. had worked for years at a large CallCenter, and “burned to a crisp” listening to customer complaints.  She decided to work from home as a Virtual Assistant instead. Since she was highly organized and was very good at multi-tasking, it was fairly easy to quickly set up shop and put her boundless energy into building her client base. However, after an exciting start, she realized that she was specializing in Help Desk Customer Service – and was horrified to realize she was right back where she started – dealing with customer complaints and frustrated, angry people; mostly via Live Chat.

But . . . she did not give up. She restructured her business based on her areas of greatest interest – not on levels of experience. She realized that management and team building were the areas that excited her the most and gave her the greatest levels of satisfaction over her twenty-two years of experience. Those two areas were the common denominators during the times when she was most energized and excited about work.

Based on that realization, she changed her business model slightly and leveraged the business she had built to function very differently. She wisely kept her clients and outsourced the work to other virtual assistants and built a strong, highly-motivated team that allowed her to offer the services at lower costs than her competitors.

Karen ended up making a comfortable profit without ever having to man another live Help Desk line. Instead, she focused all her energy on managing her business and creating a “dream team”, rather than trying to perform every task herself.  Because she understood her business so well, she was able to tap into what clients really needed, and within two years was making more than she ever had in her previous twenty-two years in the workplace.

Want all of the information? Begin at the beginning: Building an Online Business.

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[1] Avoid the ones that leave you procrastinating and focus on the activities or topics that make the hours fly by!

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