10 Easy Steps to Start Your Online Business (Part 5) | Form Business Team

5)      Form Your Business Team

Business Team

I remember reading “Secrets of Self-Made Millionaires” by Adam Khoo and in one of the chapters, Khoo recounted how he first rejected the notion of engaging people to do the administrative, logistics and accounting works as he viewed any potential hiring as additional costs to his business.

However, he eventually understood that by doing everything, he is actually losing money as he had to give up the time to do these non-revenue generating activities on his own. He could have earned more by focusing more time on the income generating activities, which is to conduct trainings for his clients. After realizing this point, he then changed his mindset to hire assistants and his business improved tremendously.

Similarly, you should also seek to form a team of technical experts (can be your family members/friends) to help lessen your workload and to give you valued assistance in areas that you are not strong in. You can hire:

i)       A programmer to handle issues on web hosting and website design,
ii)      A good writer to write persuasive and content rich sales articles,
iii)     A marketing consultant to promote your business,
iv)     An accountant to keep track of your financial performance

while you source for suitable products & suppliers and negotiate deals with potential clients. Everyone has a role to play to make your business successful.

Go back to Part 4 (Choose a Business Mode).

Go to Part 6 (Website Content)