If you have been doing business online for any length of time, you have probably at one time or another experienced overwhelm at the rapid pace of change, and the constant inflow of new information and new business opportunities. This is exciting, but also can be incredibly distracting! If your business has too many "irons in the fire", you dilute the effectiveness of your time and your marketing. Many business beginners make this mistake and then wonder why they are not making money. How do you keep up with what you're already doing AND keep up with new trends ... without spending your entire life on the computer??!! :-)
Another dilemma faced by business owners, and especially new business owners, is how do you make use of beneficial timing of new opportunities? We all know that timing is everything when it comes to creating a successful new product, service, or business idea.
Have you ever seen the movie "Defending Your Life?" In his youth the hapless hero, played by Albert Brooks, is introduced to an unexpected investment opportunity with a new and relatively unknown company. The young man is afraid and skeptical, and he turns down the investment opportunity with Casio, which later becomes a multi-million dollar company!
OUCH!!! None of us wants to be in that unenviable position. Is it really possible to catch the wave of new business ideas while you are building an existing business? How do you choose where to focus your precious time and attention? Here are three tips to help you both build you existing business, and also keep your eyes and ears open for new business opportunities.
- Choose Great Mentors
One of the most important things you can do early on in your business is to find and work with good business mentors, people who can show you step by step how to build a business, how to spot new business opportunities, how to keep your expenses low and your profit margin and your integrity high. Integrity is key here, because businesses of integrity generally contain the basic ingredients that create long-term income.
Finding good mentors will help shorten your learning curve and speed your progress towards profitability. Find mentors that you can trust, that share your values, and that can help you to spot new business ideas and opportunities. A good mentor can even help you to discover some of the emerging business trends on the net!
This being said, remember that no matter how good your business mentors are, no one can take the place of your own God given intuition. Your intuition is also known as inspiration, creativity, your "gut feeling" or instincts. That's why our #2 recommendation is:
- Listen Within
No matter how skilled and capable your mentors are, it is crucial that you always listen to your intuition about whatever new business opportunity you are looking at. Some folks call this "gut instincts" or "inner wisdom”... whatever you call it, we all have it. I encourage you to listen to your inner wisdom when looking into any new business idea. Instinct and intuition are VERY smart business partners.
-Does it excite you?
-Do I feel good about it?
-Do you feel good about the people involved?
I have found that my intuition has so far ALWAYS been beneficial to me and to my business ... WHEN I listen to it!! :-)
By the way, have you noticed that these first two tips I've just shared are NOT fancy technologies? They both fall into the category of the tried and the true:
Relationships!
A healthy relationship with yourself, and good relationships with your mentors, colleagues, customers and business partners will form the very core foundation of your business!
- Complimentary, Not Competing
On the internet opportunity abounds in endlessly complex niches, all combining with the emerging trends and new technologies. It's exciting, and can also be overwhelming. You need a solid business that will work, and that will provide you a solid long-term income, even within the shifting sands of rapid change that constantly open up new business ideas.
How do you keep it all in perspective? The key is to choose a niche, focus your content and information on that niche, and then add multiple income streams gradually, always keeping your focus very clear. Choose well researched, complimentary ventures that enhance your main business. Sometimes you can plug into opportunities with little or no extra work, simply by adding a new affiliate program or service to your site.
Do not promote two competing products or companies that offer basically the same service, and do not try to be all things to all people. Be yourself, be specific, and offer something unique. Multiple income streams can be smart business if done sanely, with discernment and with your primary business niche as the focus!
The other way to keep your business focused is to budget your time, spending 80% of your business time focusing on income producing activities that bring new cash flow into your business. Do your income producing activities early in the day when you have the most energy. Leave the administrative tasks to later in the day, after you've accomplished your daily goals.
By choosing great mentors, listening to your intuition, and focusing your business tightly around a niche, even an inexperienced internet business beginner can stay in touch with new business opportunities, and grow a successful business that will grow and expand with the times!
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