7 Steps to Creating a Successful Online Business

We all want to create a passive online business that allows us to travel the world, sip drinks on the beach and enjoy life to its fullest. But does that reality exist? Is it possible to create a successful online business that practically runs itself? I would say it is, but it requires a few important steps, seven to be exact.

These are the seven steps that have helped me create the life that I want.

I’m currently addicted to learning Spanish, and I can do that almost all day, every day, because I’ve built up a few passive income streams. I know my motivation will come back, and I will jump back into working, that is the flow of life, but right now I’m enjoying taking a short break.

With all that said, here are 7 effective steps for creating a successful online business:

1. Focus
   You don’t have to find the best system out there for making a living online. In fact, if you do that, you will probably end up confused and paralyzed. There is too much information out there. There are too many great courses out there. I fell into this trap myself, and it kept me from making progress for two whole years. Pick one program, course or mentor you resonate with and stick with it. 

• Acceptance
  You will be afraid. There will always be fear on a path that you aren’t familiar with. That is why I really like the idea of creating your online business on the side, while working a regular job. 

This is completely up to you though. I used to be a professional poker player and I quit that cold-turkey to pursue an online business when I saw that I had a chance of making it happen.

• Taking Action
  You can have all the knowledge you need in your head, but what good will it do if you do not take action? I’ve learned this from experience. I now focus on taking action much more than gathering information. 

Yes, I try to find information, but I don’t try to be perfect. There’s a fine line between knowing what you need to know, and trying to know everything to prevent making any mistakes.

• Finding a Mentor
  Finding a mentor has always been a very effective strategy for me. A mentor will help guide you, and avoid obvious mistakes. 

The way you find a mentor is simply to look for someone who resonates with you, or someone that is already doing what you want to do, then ask them! 

• Not Re-Inventing the Wheel
  I see a lot of people wanting to create an online business “their way”, but what they don’t realize is that they would become successful much faster by following the steps of someone who is already successful. 

This doesn’t mean you abandon your creative abilities. It simply means that you take the easy way out and follow instructions until you’ve got some income coming in. After you’ve experienced some success, you can start experimenting on your own. 

• Patience
  If you want to succeed online, you need patience. It’s weird, because when you think about creating an online business, you instantly get the feeling that it should happen fast, at least that is what I thought. 

The reality is that it will probably take you at least 6-12 months to get anything going, so be patient, and find something you enjoy doing. Find something that will make you happy, even if you don’t make much money from it. 

• Passion
  Is it worth it to have millions in the bank while you’re doing unfulfilling work? I’d rather have enough in the bank and do stuff I love. 

I think more and more people are realizing that you don’t have to have a lot of money to be happy.

You only have to find an intersection between what makes you happy and what other people want. It may take a while, but then again; life is a journey. It’s an ongoing process, so you might as well enjoy yourself.

Written on 7/07/2010 by Henri Junttila. Henri writes at Wake Up Cloud, where he helps people turn their passion into a thriving lifestyle business. When you feel ready to take action, get his free special report.

Photo Credit: Tech Cocktail