Over the last decade, I've managed multiple online businesses. With all of that combined experience, there are four things that stand out to me that I try to pass on to people who are just getting started.
Some of this advice falls under the "do as I say, not as I do" clause. Bear in mind that some of what you "see me do" online was implemented 8-10 years ago, at a time when there were very few guides or standards - and prior to the benefit of personal experience...
Use short non-hyphenated domain names
If there's one thing I wish I could go back and do differently, it would have been choosing the domain name for selfstartersweeklytips.com. Its long, its not easy to remember, and it gets misspelled often.
Consider your domain names carefully, and with long-term success in mind. If your domain or website has an acronym, register the acronym as a domain too.
Short, catchy domain names are harder to come by these days. It requires some creativity, but they are still out there.
Set up an automated, scalable model
During your start-up you might find yourself working long hours, as much as 12 hours a day even, and loving every minute of it. That enthusiasm and dedication is necessary upfront, but keep in mind that you ultimately want to manage your business in much fewer hours.
In every system that you set up for your online business, consider the ways you can automate or simplify that system. This will set you up for smoother expansion, and less growing pains.
In reviewing your systems, ask yourself whether you can easily outsource the task. If the answer is yes, the model is good. If the task requires your personal input, it could be problematic. In order to set your business model up for long-term success, you have to be replaceable.
Tighten your focus, narrow your niche
Some of the most successful business models I've seen have this one common characteristic: a laser-sharp focus. The mistake that I see most often is with the concept of multiple streams of income. This should be done within the focus of your primary niche, instead of across multiple niches.
For example, if your niche is "turtles" you should go deep in that one market. Create guides, groups, lists, products and events around that one topic. Become THE turtle expert.
Only after you have set up multiple, automated, scalable streams of income in that one niche should you move on to another.
Consider using an alias
This may or may not apply to your business model, but this is one of those things I would have handled differently if I knew then what I know now. Ten years ago who knew, for example, that Google would enter the scene and ultimately publish residential listings on the internet - alongside a map to your front door.
I happen to be a single woman, working from my home office, and raising two children on my own. I was never a paranoid or overly-protective type of person... until someone showed up at my back door one evening.
Its very easy to set up a DBA account with your bank, and do business under multiple names. Regardless of your privacy concerns, this may be something you want to consider if you are working in multiple, unrelated niches.
Best,
About Lynn Terry
Thank you thank you thank you for this post today! It opened my eyes to a few things I may need to change.
I have to say that I am really glad you touched on the alias subject. I have been thinking about that a lot lately. It came to mind for me a few weeks ago when I was going to add my signature to my website. I just could not do it! Just kept thinking someone may use it to there advantage or something later.
Wow, that's scary Lynn about someone showing up at your door. Were they scary or wacko or threatening in any way?
Great info Lynn!
I would freak if someone showed up at my door. I try to use a PO Box for everything I do online.
Thanks, Lynn, reading this put my perspective back into focus. To commit to going deep into one niche, and offering multiple products within that one area, makes so much sense.
I can see that being smart with pen names can work and there are ways to be personable with customers and private also. Both mean a lot to me as I delve more deeply into setting up a viable and longstanding online business.
Best,
Mary
Hi Cathy,
On the surface, not really. But you have to question what type of person would just show up at your home without invitation or notice.
It actually happened on my daughters birthday. We were having dinner when someone knocked on the back door. I didnt think anything of it - I figured it was friend or family it being her birthday.
I answered the door in boxer shorts, tank top, ponytail and a mouthful of lasagna... not expecting a 'business call' from someone that is on my mailing list lol.
I was pretty upset by the incident. A friend of mine thought I was really overreacting... but then my friend was a 6'8" tall man - not a single woman home alone with two children.
Had to pipe in here, Lynn. Your story prompted me to get a POBox today, which was on my 'maybe' list for a while. And, my favorite number was available: 55.
I just don't want my hospitality tested any more than it is in my everyday life!
Now that I'm officially 'testing' a mailing list with Aweber, it seemed to be good timing to get an official address to put on the list emails.
Thanks for sharing your experience to assist others, Lynn.
Best,
Mary
This post is simply awesome Lynn. You've covered all basis, and broke it down so nicely. Just great.
Your point on aliases, is great veteran knowledge to share.
Maria Reyes-McDavis
You are one very sharp young lady. I have been a real estate broker for over 28 years and have met a lot of highly educated professionals that did not give half as good advice as what you posted here. Cudos to you and I hope all is well.
Well, I guess I violated one rule with my newest venture thegoodlifeofgeorgia.com. It's a newspaper franchise, The Good Life, and I have the Georgia one. At least the words are easy to understand; I find people often misunderstand me when I say individual letters over the phone. I think I'd have more trouble with tglga.com or the like.
Hey Lynn,
Why do you say not to use hyphenated domain names? I think they're MUCH easier to read than non-hyphenated ones.
Regarding your address, my experiences selling on eBay convinced me to get another address. I made an agreement with a local shop that I can use their address for business purposes, in return for some free computer consultancy. That way, no-one knows my home address.
As far as an alias goes, I think it depends on your business model. I'm working on a baby guide, and my gut feeling tells me that the target market (young mothers) would react better to this coming from a woman than from a man. I invented a woman, whose name is basically a play on my wife's real name, and used that for the site. This has the bonus of protecting our privacy.
Thanks as ever for some useful and helpful info. Makes your blog one of the few I bother reading!
Ta ra
Alan
really great advice.
Actually I didnt say *not* to use hyphenated domain names. I simply suggested that you use short non-hyphenated domain names.
For a couple of reasons. They are hard to say and remember. Terrible for sharing via audio, over the phone or in person. A longer domain name is better than a hyphenated one, in my opinion.
I would also venture to guess that the domain name affects the resale value of the site as a whole. All things being equal between two sites, the one with the better domain name will bring a higher price.
Just some things to consider going forward.
Hi Lynn,
Thanks for the clarification. The reason I prefer hyphenated domain names is that they are easier for a human to read and comprehend. The hyphens break up the words, making it quick to grasp the purpose of the name.
Without hyphens, the brain has to work out where the word breaks go, and this can involve a few extra mental cycles that people might not be bothered to invest.
I agree about the audio side of things though.
Ta ra
Alan
I am 99% against aliases or "pen names" for business. If you're trying to brand or make a reputation for yourself, an alias is not going to help one little bit....it could very well hurt credibility in the long run.
The 1% of course, is if you're already KNOWN in a certain niche or 2, when you decide to play in others.....you don't want to confuse or associate the two.
Face facts folks (now there's a twister), with technology the way it is and certainly here it's headed, if someone wants to find you...THEY WILL.
No debate there.
In an attempt to squelch the #1 comeback, "but why HELP them?", is answered above. If you're going to be in business...be in business. 🙂
here should be where it's headed*
Sorry
This story still sends a chill up my spine. I can't believe someone would have the nerve to show up at your door uninvited or unannounced.
One thing I've noticed about systems. If you don't set any up, you can quickly get overwhelmed as your business grows.
It reminds me of something Dan Kennedy wrote about. He basically said no matter how much you love doing what you are doing today. Eventually you'll grow tired of doing ____ (fill in the blank). He also advised to have systems in place to replace yourself.
Good advice.
Lynn-
I had a man show up at my door one evening (a little after 8pm) when my husband (fiance at the time) was out of town traveling for work. The man claimed to have gotten my information from one of my clients (whose name he could not remember) and was interested in speaking to me further about coaching. After sternly explaining how I do business (AHEM! Not at my front doorstep at 8pm at night) he calmly left. Fortunately, there was little interaction with him afterwards, but the fact remained...he found out where I lived just by my name.
I'm glad that you brought this issue to light, because I have ALL of my business records/names etc under a DBA and have been VERY careful to pay extra for privacy settings where available, in an attempt to prevent what occurred that night. After this man left, I quickly went to my computer and searched my name on all major search engines...NOTHING. No addresses. No records. Nada. Knowing he got my info SOMEWHERE, I kept searching for public record sites and eventually stumbled across a site called ZabaSearch. I was blown away at the information that was on there about me. They had every single address & phone number I had since the age of 18, and even listed my DOB. The scarier thing is that for the right price, someone can pull an "Extensive Report" that allows them to see names and addresses of family members, employers and even your Social Security. Doing further research on the site I found that even celebrities and public officials aren't safe- If they've ever used their real name with their home address, it's right there for the whole world to see- for free. I think it goes without saying, how absolutely dangerous this information could be if it were in the hands of someone with ill intentions.
The good news is that you can pay a $20 opt-out fee and have all of your information removed. I didn't choose to do this myself, since I was a month from getting married and my new name would not pull any information- However, many of my friends and family used the service, and had luck with it.
I hope this information is helpful to you and your readers, and may you always be protected from crazies who think it's appropriate to show up at your front door! 🙂
Sierra Friend
Great resource, Sierra - thank you for sharing that. Like you, I take my privacy seriously. Even my closest (local) friends know that, and respectfully phone before just showing up at my home... so its a major red flag to me for a complete stranger to take such liberties.
Thank you again for the link & welcome to ClickNewz 😀
Home Business Management Tips From Anastacia:
Make sure you always have your planner with you just in case you need to set an appointment for a business presentation. That is what I do when I make my phone calls I take out my planner and ask my prospect what date is good for them Tuesday or Saturday at 7pm for example. You want to them that because your time is valuable and you are on a goal to earning residual income not to waste time or money.
Always call your prospect the day before or the day of the appointment to confirm their attendance. This is crucial to avoid no shows.
Set aside prep time for yourself before you go to your appointment whether it’s on the phone/internet web cast/in person. Preperation is key to success and it helps get your ideas in order before talking.
Remember to listen to your prospects needs and wants. I use the FORM method when prospecting a cold market (Family, Occupation, Recreation, Money). If you don’t know the FORM method I will be happy to explain how I do it. This method is used all the time in Network Marketing and is very effective.
Keep track of everything you do like phone calls, conversations, notes, appointments, and a journal. I do this daily because I work my business everyday and treat it with respect as a professional business. Image is everything, the right website, the right business card, the right posture, and the right outfit. Be professional all the time because this builds character and attracts prospects to you. I am not talking about wearing a tux or a business suit on outings but I recommend clean and pressed business casual attire and be comfortable.
Last but not least just be yourself and take time for yourself once your finished and celebrate!. A cup of tea/coffee/rootbeer float/ and a movie something to reward yourself for the hard work you did that day.
Once you start doing and applying this method to your daily work at home business schedule, it will prepare you for when the big bucks start to roll in and you need to organize your finances and your life.
Live, Laugh, Love
Anastacia, New Jersey
http://www.myspace.com/ahauldri
I like the part of your post discussing domains. My domain has a a hyphen and I think it would have been wiser to go with a different domain name without the hyphen. You're right, it does take quite the time investment when you first get started! Great advice!!