My goal with this site is to take what I learned with my company and turn that knowledge into an online lifestyle business. If you happened to read my last post –> Digital Media = New Opportunity!, you can see that I think now is a great time to take advantage of all the digital opportunities to make my online lifestyle business happen.
Online lifestyle business?
To me, a lifestyle business doesn’t equate to running a tiny business as an alternative to having a job. A lifestyle business doesn’t have to be small at all, either in revenue or employees. The main requirement of a lifestyle business is just that it allows the entrepreneur/owner to live how he or she wants to live now, while running the company.
While Corbett’s definition is exactly what I am doing here at my site now, I have had some problems in the past with running this type of business. Here are a few of those problems you may want to think about before you start building your online lifestyle business. These problems are not deal killers when it comes to your new lifestyle business, but I feel that if you’re aware of them at the beginning, you can plan for these problems and lessen or even stop them from occurring.
5 Possible problems.
1. It’s all you.
This one may be a little obvious, but you are often working alone when your business is online. This means that unless you are passing out work assignments to contractors you are responsible for creating everything.
Blog design — all you.
Images for blog posts– you again.
Writing the blog post– c’mon, by now you know who does that.
Not only are you the one in charge of completing everything, working alone also brings up the problem of having no one to bounce ideas off of. If you’re not careful, you can easily get stuck in your own little world with only your opinions. Sure you can ask other people for opinions, but will they even know what you’re talking about? Will they even care?
2. Too much freedom?
Freedom can’t be all that bad. That’s why I work online to begin with. However, if you lack discipline, you may find that too much freedom to do as you please will result in poor performance. It is very easy to become distracted if you are working out of a home office. You need to keep yourself productive because there is no one else to do that for you.
3. Workspace problems.
This can entail many things. Maybe you don’t have a dedicated space for your work, so there is no organization. Perhaps the space you do have doesn’t meet all of your needs. Is it conducive to record video and podcasts or is the audio horrible due to uncontrollable things like noise from neighbors, dogs, babies, everything! Does your workspace help lead you to waste time on other things? If you work at the kitchen table will you be able to concentrate on the work at hand or will your workspace remind you that you need to pick up some groceries and plan for tonight’s dinner?
4. Perception of your work.
Even though more people work from home, there is still a certain perception of the work being done. If you are working at home on an online business, many people will believe that you are just trying to scam people. People will throw out terms like “pyramid scheme” and “get rich quick”. It seems that many people do not see that the internet and other digital methods of running a business as just different tools than what they are used to. If people do not understand that your business is a real business that happens to use these tools to operate, they will dismiss it.
5. Networking’s tough.
This problem can be tied back to our first problem of working alone. In a business setting, you may take for granted that you are connecting with other individuals in the same boat as you. I have been able to network with people and then used these connections to help further my career and the career of others. When you are working online, it is harder to find individuals that are doing the same as you and take the business seriously. If you want to network online, you are going to work for it by seeking out individuals that are on the same journey. This may be joining online mastermind groups, joining networking sites like meetup, or even joining the local chamber of commerce for your area.
Now you know.
Those are a few of the problems that I have encountered while being in business for the past 5 years. Even with those problems, you can be successful in having an online lifestyle business. I’m sure you can figure out what to do to knock these problems out. If you have a question or suggestion, let me know in the comments.