Category Archives: Business

4 Ways to Recognize Time to Make the Leap and Start Your Own Business

one percent of Americans are interested in being self-employed, however most don’t start their own business, largely out of fear of what would happen if they don’t succeed. I was part of the 51 percent and feared remaining part of that statistic forever, never taking the leap to go out on my own.

For a decade, I worked as a Division I college athletics marketer and sports marketing professor. Then, during what should’ve been one of the most joyful times in my life, I almost lost my life. A near-death experience during the birth of my daughter prompted me to realize it was time to take action towards building a life and career I would be happier with.

I started working on launching my business while I was still employed full-time, doing things such as building my website after I’d put my daughter to bed for the night and while my husband was working the night shift. I was working towards my goal, but burning myself out and trying not to give in to the mounting pressure. I kept wondering, “How would I know when it’s the right time to make the big leap?”

The truth is there is no life script that tells you when it’s time to start your business and live your dreams. You can map out each step of your next move, organize all of your business plans and strategize every last detail, but none of this tells you when to flip the switch and go. What I learned, firsthand, is that there will come a point when you know there is no turning back and only then will you be ready to make the change.

Looking back three years, when I finally made the decision to start my business and make it my full-time job, my fear was overtaken with my joy of knowing that my world was about to open to something that I’d never experienced before. At the time I left my collegiate career, I was a mess of emotions — happy, scared, joyful, worried, more free than ever before. In retrospect, there were four things I knew then that helped me realize the time was right to make the big leap.

1. Know your numbers.

Two of the biggest reasons people don’t start their own business are financial fears: lack of a steady income and enough personal savings tostart a business. If you’re ready to go out on your own, be crystal clear on how much money you have going in, how much money you need to make to live at a level you’re comfortable with and how that all translates to client numbers, immediately and for the future.

2. Decide it’s happening, no matter what.

Regardless of the reason you’re starting your own business, be it for the love of what you do, freedom to control your work experience or to build a legacy, it’s important to dedicate yourself to making the business happen. For me, it went from being “what if?” to “when?” I decided I was going to make this transition in my life, without question, and it took the guess work and the over analysis out of the equation.

3. Trust your intuition above all else.

There is no one who can tell you, ultimately, what’s right for your life and your business but you. Trust your gut. Research has shown how our bodies are able to speak intuitively to our minds when it comes to making decisions, big and small. The wisest parts of me knew that it was time to make the shift in my life in the pursuit of what I was ready to create.

4. Make the leap.

There comes a point where you have to make the investment in yourself and your businesses and walk away from what’s no longer serving you. It doesn’t have to all happen in the same day, but the quicker you start creating your business plan, the sooner you can start putting it into motion and starting your own journey. After all of the preparations you’ve made to get to this point, don’t be afraid. I had one client when I made that leap, but somehow I knew I was doing the right thing.

It’s your turn. Think about what you want the most and how your life is supporting those desires. If your life isn’t supporting those desires, it may be time to make the leap. Don’t feel like the life you want is too far from reach. Quite often, it is just one decision away.

How Side Hustlers Can Get Biggest Business Results in Quantity of Time

With so few free hours in the day, it can be tough for side hustlers to feel like they are getting anywhere in their business, gig or project.

But your limits are actually your blessing.

“The time constraints you have are an advantage, not a limitation,” says Adrienne Dorison, a business consultant and strategist. “They require you to focus only on the most important things, and you’ll get results faster because of it.”

As an expert in productivity and business development for entrepreneurs, Dorison is all about streamlining strategies. With a few shifts, she is able to find gaps in mindset and workflows to  provide big results while minimizing effort.

In a Facebook Live, Dorison will be provide advice to side hustlers,including myself, on how to set the right priorities to grow your business. The episode is the first in the Side Hustler edition of our new series “Tough Love Tuesday,” in which business owners like you get support, resources and actionable advice.

In this talk, Dorison will cover:

Developing a strategy so you’re tackling the right problems
Determining where your bottlenecks are — and which ones to address
Streamlining your processes and setting your priorities

She’ll also share what most side hustlers get wrong when it comes to getting focused and what no one is doing but should be.

 

5 Successful TV Shows and Successful Businesses

Running any small business is tough. You don’t have the capital. Your competitors can crush you, especially when you are still building a solid base of customers you can rely on. But I’ve learned a lot about running businesses, particularly when it comes to my penny stock trading lessons.

I appeared on TV with Steve Harvey, where I was interviewed about my penny stock course and the students who have made six and seven-figure sums. But when I look back, I thought about what TV can teach us, and here’s what can be summarized.

1. Keep it simple.

The format of most TV shows is extremely simple. Take your average TV drama as an example. There’s a problem, which may be carried over from a previous episode, a conflict and a resolution (and sometimes an additional problem for the next episode).

This is a simple format that has carried on since the invention of TV. That’s the simplicity you should apply to your small business. Don’t try to reinvent the wheel. Follow what came before.

2. Money won’t make you happy.

It might make you successful, but you’ll quickly burn out. Small businesses are run on fire and passion. Every successful small business owner has wanted to change the world. They want to do something. The motivation was never money alone. And that’s the same with any TV show. Writers and producers are excited about what they’re going to see come to life.

3. Build a community.

I regularly post successes and tips from my students. Why? It’s not about bragging it’s about informing myself and the wider world. Always look to network and you’ll build that community. The most successful TV programs have a huge following. That’s how they keep getting renewed for another season. The networks know they’re going to tune in.

4. Patience is a virtue.

Not every TV show or format is going to immediately take off. Most TV shows don’t get popular until the end of season one or the start of season two. The point is that I would never give up on an idea just because it didn’t yield instant success, and you shouldn’t either.

5. Don’t stop pushing the envelope.

How many times have we seen TV networks fall flat on their faces? And how many times have we seen them succeed hugely because of a crazy idea? That’s because they always push the envelope. Apply that same logic to your business and you’ll eventually hit upon that one idea that blows up. You’ll see.

The 10 Best and Most Popular WordPress Themes to Choose From Website Projects

The digital world is spawning at an exponential rate. Every hour, roughly 1,000 websites are created. We’re talking petabytes of new data every single hour. To understand the sheer size and volume of that, there’s one million gigabytes in a petabyte or 1,000 terabytes. Considering that the human mind is estimated to be able to hold 1.25 terabytes of data, one petabyte is equivalent to approximately 800 human minds.

While those numbers could most certainly shock and awe you, the truth is that many of the newcomers to the online world rely on the WordPress platform to help streamline the process of getting their website up and running quickly and easily. With over 100 million websites and counting, WordPress is by far the most popular CMS in existence. That might be why the WordPress theme market is burgeoning and exploding.

However, with tens of thousands of themes in existence, how do you know which WordPress theme is the best one for your next website project? While this can most certainly be a subjective topic, these pre-built themes, which offer a far smoother transition into cyberspace, are scooped up in droves.

Some of these themes are terrific for ecommerce stores while others are great for starting a blog. However, the best theme for your project will be based on a few criteria. Not only should they be aesthetically appealing to the eye, but they also need to be mobile responsive. Considering that Google’s search is now a mobile-first index, and mobile searches far outpace desktop, responsiveness in design is important.

When a design is responsive, it looks and functions just as well on mobile and tablet devices as it does on desktop. However, building a responsive design on your own is no simple feat. Trust me, I’ve built loads of them. And unless you rely on a system like Twitter’s Bootstrap, building responsive designs for different media types is an exhaustive endeavor. That’s why some of the best WordPress themes have placed special weight on this one crucial aspect.

Related: CMS Battle for Beginners: WordPress vs Joomla vs Drupal (Infographic)

How to choose the best theme for your website.

Whether you’ve just started a business, or you’re trying to figure out the type of business you want to start, there are some things to look for when selecting a theme for your WordPress site. Some themes offer great support for ecommerce stores while others are terrific for membership-based sites. Either way, you’ll usually need some plugins to make everything function smoothly with one another.

After nearly two decades of software engineering, web development and SEO mastery, I can tell you that there are 7 critical categories that any software application or extension (i.e. WordPress theme) is judged on.

1. Ease-of-installation: While there are tons of WordPress themes out there, the best ones are easy to install. There should be a simple interface that will help you get started quickly and easily, without a lot of fuss or programming know-how.

2. Degree of customization allowed: Pre-built add-ons, tailor-made plugins and a high degree of customization make themes that much more powerful. While some themes focus on a high degree of customization, others don’t.

3. Mobile usability: Mobile usability is crucial. Considering Google places heavy weight on this, finding the right WordPress theme that supports a responsive mobile design should be one of the defining factors in your quest for the ideal theme.

4. Overall speed: As a developer, I can tell you firsthand that your style of coding counts for a lot. It can either be bogged down by excessive code, or be light and compact. The latter is important to facilitate the overall speed of page loads, which is a crucial factor when it comes to things like SEO and visitor retention.

5. Aesthetic appeal of design: The aesthetic appeal of the theme is important. How polished is the look and feel? Does it look amateur or professional? People pay acute attention to design, so be sure to select the right theme that supports a high-quality design.

6. Customer reviews: Reviews are important when it comes to any product or service. And, when it comes to discovering the right theme, you should do your due diligence into the experiences of others. What’s the general consensus on that theme? Are they authentic reviews?

7. Ongoing support and upgrades: Support is an important aspect in any business, especially in one that requires constant evolution and upgrades to keep up with core upgrades to the WordPress platform. Be sure that whatever theme you purchase, that they provide some sort of on-going or limited support and that they’re constantly evolving, upgrading and adding new features.

Related: 25 Reasons Your Business Should Switch to WordPress

Top themes for WordPress sites.

While any list of themes for WordPress might be considered subjective, the preceding list of criteria help to laser-focus the approach to finding the perfect one. Below are what I consider to be some of the best themes that are out there.

1. X-Theme

I’m partial to X-Theme. It’s the theme that I presently use on my blog. And I’ve had an incredible experience with it. It hits all 7 of the criteria that I’ve laid out and does so particular well. X-Theme was created by ThemeCo, and it offers a highly-customizable, mobile-friendly, easy-to-use interface for your WordPress website. This one is definitely worth checking out.

2. Avada

Another one of the most versatile themes I’ve come across out there,Avada is one of the best-selling themes of all time and was created by Theme Fusion. It offers up a powerful design interface, allowing you to customize nearly all of the graphical elements of your WordPress site.

3. Hexater

Hexater is a fantastic theme that allows you to quickly and easily customize your site without investing hundreds of hours trying to figure out how it works or having a PhD in graphic design. This theme offers quick-to-market renditions for things like product launches, ebooks and niche authority sites, as just a few examples.

4. BeTheme

BeTheme is a massive theme built for WordPress with over 260 variations that can be launched with a single click. This powerful theme is beautiful, responsive, fast-loading and highly customizable. The company offers fast and reliable support, lifetime updates and the framework is optimized for SEO.

5. The7

The7 is one of the most customizable themes that are available for the WordPress platform. It includes a visual composer with a beautiful design wizard and over 750 theme options, along with over 26 pre-built websites that are quickly and easily launchable with a single click.

6. Flatsome

Flatsome is a great theme if you’re planning to run an ecommerce store with the WooCommerce plugin. It’s by far one of the best-selling WordPress themes for WooCommerce out there. It’s highly customizable, provide on-going updates, is fast-loading, boasts a responsive design and has beautiful pre-built designs with on-going updates.

7. Uncode

Uncode is a WordPress theme that gives you with the ability to create beautiful designs within an ultra-fast-loading framework. There are over 200+ layouts, a versatile visual composer and provides over 30 ready-for-market designs to get you up and running quickly and seamlessly.

8. Genesis

Gensis is a framework for WordPress that allows you to create beautiful and stunning websites that are highly customizable. This theme offers a light-weight design that’s highly optimized for speed, and provides advanced customization options, giving you the ability and flexibility to build just about any type of website with the framework.

9. Pixelgrade

Pixelgrade offers a visually-stunning WordPress theme that’s designed for a variety of situations, best suited for a variety of occupations such as restaurateurs, photographers, bloggers, designers and more. The theme is customizable, responsive and very easy-to-use.

10. Storefront

Storefront is a bulletproof WordPress theme that was specifically designed for the WooCommerce add-on. It’s a great way to build an ecommerce store quickly and easily, offering up extensible customization options with a fast-loading framework that makes creating an online story easy and straightforward.

Tidak Perlu berada di Silicon Valley untuk Menumbuhkan Bisnis

While Silicon Valley might be a great place to grow a business — it’s not the only place.

Reid Hoffman, the co-founder of LinkedIn, partner at VC firm Greylock and host of Masters of Scale, a podcast series examining counterintuitive theories to growing a company, believes that the talent and growth opportunities in Silicon Valley are unlike any other place in the world. And while he may not be wrong, Silicon Valley doesn’t have to be the only place for aspiring entrepreneurs.

In fact, Orlando-based Emmy Award winning producer and founder of Ambitious.com Greg Rollett has found much success outside Silicon Valley. And to the contrary of Hoffman’s theory, working in a smaller city has been very beneficial to Rollett and his career.

“There’s opportunity out there that I think people overlook,” Rollett tells Entrepreneur’s editor-in-chief Jason Feifer in a video. “In Orlando, the local colleges ensure that there’s a diverse and enthusiastic talent pool, there’s a number of retired executives and successful entrepreneurs looking for new ideas to invest in and it’s easier to network locally and get your name out there.

Beyond hiring, funding and networking, Rollett and Feifer agree that smaller communities also act as good testing grounds for new ideas.

“You can learn how to tell your story better so that by the time you’re ready for that larger audience, you’ve refined yourself,” says Feifer.

However, when it truly comes down to it — both believe that it doesn’t matter where you are, but what you build.

Check out the video to learn more about successfully launching and growing a company whatever your location might be.

How Top Freelance Marketplaces Grow Your Side Hustle Profit

Entrepreneur has an affiliate partnership with Hurdlr so we may get a share of the revenue from your purchase.

It’s no secret that the freelance economy is growing like crazy.

According to a study published in 2016 by Upwork called Freelancing in America, 55 million Americans participated in freelancing last year, meaning it already represents 35 percent of the U.S. workforce.

Here’s a more surprising statistic: Moonlighters made up 25 percent of the freelance workforce in 2016. These are professionals with a primary, traditional job who also moonlight doing freelance work. For example, a corporate-employed web developer who does freelance projects in the evening.

More and more people are choosing to supplement their day job income with on-demand work, ranging from remote business consulting to website design projects to even voice over acting!

And technology is making it increasingly easy to sell your skills or find the perfect talent for a business project. The same study found 73 percent of freelancers said that technology has made it easier to find freelance work—up from 69 percent just two years ago.

We spoke to executives at two of the top freelance marketplaces in the world, Fiverr and Upwork, that combine for billions of dollars in services sold each year. We got their insight on where this market is going and how freelancers can earn more profit with these platforms.

Fiverr’s CRO on solving freelancers’ biggest problem.

“Fiverr’s marketplace aims to solve the biggest pain point freelancers have,” says David Manela, CRO at the Tel Aviv-based freelance marketplace, “Finding work. We do this by taking the simplicity of an ecommerce marketplace and applying it to freelance services.”

Ask any potential entrepreneur about their fears of starting their own business and their answer will almost certainly be some variation of “getting customers.” The beauty of using Fiverr as a freelancer is that they’re focused on optimizing their platform to connect businesses with customers so you don’t have to.

“That way,” Manela puts it, “freelancers spend less time doing the business of marketing and seeking out work (i.e. writing proposals, bids, etc.) and more time doing what they actually love—creating, coding, designing, etc.”

Just looking to make extra profit on the side, in addition to your day job? A platform like Fiverr is also ideal, because you can control how much you work. “For those looking to do supplemental work as a side hustle, it’s easy to control the number of gigs they’re working on, meaning they can take on as much work as they feel comfortable handling.”

Leveraging an optimized platform like Fiverr can help entrepreneurs increase their freelance profit because they’re free to spend 100 percent of their time filling client orders and growing revenue, notracking up expenses trying to advertise their services.

Upwork VP says skip admin to maximize earnings.

Shoshana Deutschkron, vice president of communications at Upwork, has similar thoughts on what keeps freelancers from growing their profits. “The biggest barrier to growing profits from freelancing is finding enough work. Traditionally, side gigs have been limited to personal referrals and local projects. Upwork makes it much easier and faster to find more work,” she says.

The advantages of leveraging an online marketplace to manage inbound sales/lead generation should be a given. But what about managing those clients along the way—making sure they know what they owe you, sending invoices, and getting paid on-time and securely? This can add up to quite the time commitment for most freelancers, and be a huge drain on your profit.

Upwork spent a lot of time and resources building tools to streamline these dreaded tasks for freelancers. “Beyond better access to a much larger pool of work opportunities, Upwork helps entrepreneurs maximize their earnings by reducing the administrative load required of freelancers, such as time tracking and invoicing, and empowering them to spend that time actually working and earning,” says Deutschkron.

Upwork accomplishes this via proprietary features for Upwork freelancers include tools like the Work Diary, which automatically screenshots your computer to document work-in-progress. This helps ensure your client pays you for every hour actually spent working.

For fixed-rate projects, Upwork has a built-in milestones interface that allows freelancers to submit pieces of the project at agreed-upon due dates, at which point the client releases funds from a secure escrow account that go right to you, the entrepreneur. Not only does Upwork help entrepreneurs get work, it helps them get paid in timeand in full.

Simply put, more time cranking out sales and less time doing administrative dirty work like documentation, billing, and collection means much more profit for you.

Disclosure: This is brought to you by the Entrepreneur Partner Studio. Our goal is to feature products and services that we think you’ll find interesting and useful. If you purchase them, we may get a small share of the revenue from the sale from our commerce partners.

Being a Nimble is More Important than Being True and 4 Other Lessons I Learned to Build a Successful Company

The journey to success is different for many companies. There are opportunities, pitfalls and shifts which need to be made to turn your ideas into a successful business. However, one thing that many business books don’t tell you is that the early stages of a business are a careful mix of vision and flexibility.

And that how you implement this mix will have a lasting impact on your business.

That’s because much of your long-term success is instilled in the beginning stages of your company. Culture, differentiation and customer commitment are all formulated from the very early days of your business. And while needs change as you transform from a startup to a larger organization, ensuring you put in the time — and allow yourself the flexibility — to hone your product and approach early establishes important norms which run through the life of your business.

While there are many things entrepreneurs need to think about during the early stages of founding and growing a company, I have found that the following critical areas of focus were the most pivotal during Capriza’s first few years.

What makes you unique?

As a new company, you have to deliver something different, not simply something that’s good. While it’s vital you take a quality product to market, at the outset of building your company you need to ask yourself the question, What makes me stand out?

The fact is, as a startup, your customers are taking a risk buying your services. To be motivated enough to choose you over a more established competitor, you need to deliver something different, and different in a way that delivers clear value to your customer. It’s important to focus on the unique value of your product from the outset, and build out functionality that magnifies and extends that differentiation. With our company, we started with one core product, later expanding to a full product line and suite. But, honing in on that initial offering and what made it compelling against other market competitors is what drove our initial sales, and gave our company a platform and early customer base on which to grow.

So, don’t just focus on being good. Focus on being different, in a waythat really matters to your target customers.

Related: 5 Startup Lessons That Could Have Saved Me 5 Years

Being nimble is more important than being right.

When you hear about the world’s most successful companies, you often hear about how the founders stuck to their vision and never wavered. They looked into the “crystal ball,” saw the future of the company and just did the right things day-by-day to realize that vision.

Unfortunately, however, that’s also the story of a lot of businesses that no longer exist. If we hadn’t listened to our market and our customers and adjusted as we matured, we likely wouldn’t have been successful.

For example, when we were starting out we made assumptions about our potential customer’s technology usage and needs that weren’t completely accurate. Many of our customers were still struggling with legacy back-end systems, and weren’t as cloud progressive as we initially assumed. Making sure we were listening to the market and integrating these lessons into our solution was vital to our success. If we hadn’t responded and adjusted, our offering would not have addressed the real hole in the market.

In business — especially the early stages — having a vision is great. However, being nimble and open to new ideas is the key to longevity.

Related: 5 Proven Strategies to Break Out With Your New Business

Put extra thought into your people.

We all know the adage that people make your business. However, at the early stages, they can also break it very quickly.

When we were starting out, as CEO I put extra effort and thought into each hiring decision to ensure we were hiring the right people who could learn from the market and rapidly evolve to help us achieve the next stage of growth and maturity. We needed to hire people who not only had an entrepreneurial mindset, but also were committed to the team and “open door” policies we wanted as a cultural cornerstone for our company. I believe that “culture eats strategy for breakfast,” and the best business strategies can fail if you don’t get the culture right.

When you’re moving quickly, it’s natural to have “tunnel vision” focused on the end goal. But, culture has a lasting legacy, and the wrong hiring decisions early can have a corrosive impact for years. Having all leadership involved in hires at the early stages of your company ensures you’re hiring people who reflect the culture you want to instill. This is essential in the early days of your company because the next wave employees will take their cues from your early staff.

Related: Building a Hard-Working Team Starts With You

Implement customer health procedures.

At the heart of every company is the relationship you have with your customers. Your differentiators and product quality are cornerstones, but if you lose the trust of your customer base business will dry up quickly. This is even more true now in the days of subscription business models and declining switching costs.

What’s happening with your customers is everyone’s business in a startup. Companies who think customer successes and setbacks belong to department X (usually customer success or some other service organization) will slow or stop their own success. At Capriza, we initiated the customer “Needle Mover” program where if we ever had a customer issue or a major breakthrough, the whole company would be alerted and jump on it, no matter what department they were in. By doing everything to make our customers happy, we were able to establish trust and gain their loyalty, and use what we learned to help our efforts across marketing, product, sales, services and more.

Related: How Being Transparent Helps Scale Your Company

Grow as your company grows.

It’s also important to remember that as your company changes, as a CEO you need to change as well. How active you are in all facets during the early growth phase needs to adapt as your company grows in size, personnel and customer base.

As your business needs change, so should your approach as a leader. In the early days, you might have to be a salesperson in the morning, a product manager in the afternoon and a marketer in the evening. But, as you grow, you need strong leaders across all functions who can implement your vision and reinforce the culture without constant supervision. Maintaining the same approach as your company grows from 15 to 150 people is not only a step to overworking yourself, but is also a sure way to stop implementing practices that will strengthen your company as it grows. Instead of setting the vision and enabling and supporting the team, you’ll be the dreaded “single point of failure” that any experienced technologist knows to avoid.

The people and structures needed to succeed change as your company evolves. Being flexible to embrace these changes — and not solely sticking to what you know or has worked previously — is key to fostering a company that can continue to grow.

There’s no golden strategy for building a successful business. However it’s rare for a business that isn’t clearly differentiated — or is too stubborn to adjust to the needs of the market — to find true success. Put time early on into building the right team, and an offering that is unique and meets a customer need, and you’re positioning yourself best for continued success.

How This Entrepreneur Saves and Make Money to Finance Startupnya

After pressure from immigrant parents to follow a traditional career path to make the family proud, Louie Balasny decided to go to law school. After realizing that law was not a career that was right for him, he got a job at a bank. When he was let go of his job at the bank, he was faced with the question “what’s next?” Balasny met his co-founder and together they got to work, bootstrapped and paid their dues. Find out how Balasny juggled growing and financing a company.

Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

EN is partnered with hundreds of top YouTube channels in the business vertical. Watch video from our network partners on demand on Amazon Fire, Roku, Apple TV and the Entrepreneur App available on iOS and Android devices. 

3 Ways to Buy an Established Online Business

Large brands used to have a massive retail-environment advantage over mom-and-pop companies because of their distribution. Now, the playing field is even, thanks to the internet. You don’t have to be a national brand these days to build a million-dollar online business.

A solid product, combined with the right advertising platforms and targeting, can quickly make a no-name brand wildly profitable in a short period of time. Now, not every entrepreneur wants to start building an online business from ground zero like I did with my company’s brand, which sells teeth whitening pens and kits. Instead, some prefer to buy an established website.

This option eliminates the brand conception, monetization strategy and business model development, allowing you to jump right into business development and growth. While buying an established online business eliminates a lot of the early-stage foundational work, its success is still contingent on your ability to run and manage the business. If this option is appealing to you, here are three ways to buy an online business.

Related: 8 Reasons a Powerful Personal Brand Will Make You Successful

1. Online marketplace

The most popular option is using an online marketplace to buy an online store. It’s a great place to search for available opportunities, as you are able to see what is available in the industry or niche of your choice. It’s important that you find a business that you are truly passionate about.

Even though it’s already established, it’s going to take immense work to operate and grow the business, which is a much less daunting task when it’s something you truly love. Your new business is going to be a marriage, so you better love what you are jumping into.

When you use an online marketplace, you also get accurate data to analyze. For example, Exchange by Shopify pulls the listing information straight from their data so you know, without a doubt, that the revenue and traffic data being presented is 100 percent accurate.

Related: Without Knowing Much About Technology, How Can I Launch an Online Service Platform?

2. Direct purchase

If you know what you want or have a particular online business already identified, reach out to the owner and see if they are interested in selling it. You can reach out through the website’s contact options or do a WHOIS search to find the owner’s information.

When you do reach out, it’s important that the owner knows you are 100 percent serious about negotiating a purchase agreement. If they have the slightest sense you aren’t serious, you more than likely won’t even get a reply. This is where your preparation will help get their attention and help you make a smart business decision.

A little due diligence is wise before you initiate contact. You want to make sure the online business is healthy. You can use tools likeSEMrush to analyze website traffic and Open Site Explorer and Ahrefsto dive into its link profile. If the traffic and backlink profile look solid, you can then approach the owner. If there are any red flags, like a spammy link profile, then you will want to dive into your research a little deeper to determine if it’s even worth pursuing.

Related: How to Make Money Online: The Basics

3. Online business brokers

This is an option for those who simply don’t have time to search for available opportunities or feel more comfortable having an experienced professional handle the negotiations. They know what to look for, and have the knowledge to quickly determine whether or not any claims made by the owner are in fact genuine.

Think of an online business broker like a real estate agent — they make the purchase process easier on you. Not only that, but they are in your corner if something goes wrong or you have questions.

Just like a real estate transaction, a broker is only paid when the sale is completed. It’s in their best interest to find you the best possible online business opportunity and handle the entire acquisition process from beginning to end.

The technology Harness creates as a Mobile Mogul

For many entrepreneurs, it’s easy to get locked into a startup state of mind (and the instability that goes with it). It’s time to break those tethers, friends! Outsourced chief strategy officer and lifelong entrepreneur, Aaron Scott Young, lays out his recipe to build a business that works hard for you so that you aren’t a slave to the daily grind. Tune in for a veritable how-to guide on conquering challenging and often unpredictable obstacles, measuring performance to boost productivity and selecting the right gear to stay connected with critical business components. (Entrepreneur Network partners Scott Duffy and Alan Taylor trust the HP Elite x2 2-in-1). Plus, don’t miss out on a Business & Burgers first where we sample three delectable PONO Burger creations

Watch more videos from Business & Burgers on their YouTube channel.

Entrepreneur Network is a premium video network providing entertainment, education and inspiration from successful entrepreneurs and thought leaders. We provide expertise and opportunities to accelerate brand growth and effectively monetize video and audio content distributed across all digital platforms for the business genre.

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