Online business startup

iVillage Member
Registered: 08-19-2009
Online business startup
2
Wed, 08-19-2009 - 1:37pm

Greetings to all! I'm interested in building an online retail business so someday I'd like to work from home if it gets off the ground. Right now I work in a full time job and am ready for a change of scenery down the road.

I know no online business is the same and every business is different, but I'd like to hear what's the average length of how long it takes to make a transition from a full time employment to full time working from home? For example, one year? Two years? Or more or less? Is it possible to make a transition or this economy's affecting all businesses? How many years would it take before you see any profits coming in from your online business?

Avatar for audreyoka
iVillage Member
Registered: 03-26-2003
Wed, 08-19-2009 - 8:22pm

My suggestion is to work the numbers. If you are selling widgets and you're commission is $2 per widget sold, how many widgets will you need to sell to make your monetary goal?

Create a one year marketing plan. After one year I think you'll have a really good idea of what you're able to sell and who buys what you'll be selling.

While I read ads often that say "quit your job in a year" almost always the ad writer has not accomplished that. But they know someone who knows someone who has accomplished that. I think one year is a very short time to start a business and build it to the point of replacing a full time income.

Let's say that right now you earn $1000 per month. Let's also say you get 3 weeks vacation, 5 days personal leave and insurance. In order to replace the monetary value of those benefits, you would need to make more than $1000 per month to equal the same salary you make now.

Is it possible? Yes, yes yes!!! Make some goals and work toward them. As you achieve them set more and more goals until you finally have exactly what it is you want.

iVillage Member
Registered: 07-24-2009
Thu, 08-20-2009 - 7:56pm

I think you are very smart to continue working while you are building up your business.