Business & ProductivityOnline Tips, Tricks & Advice

List of Business Functions for Online Business

By September 13, 2017 No Comments

Launching a website is still a business (unless you fancy blogging for a hobby) and it helps to be business-minded at heart.

Business Functions

Below are the usual business functions that must be considered when running your online business:

• Business planning
• Finances and accounting
• Staff
• Marketing
• Branding
• Strategy
• Team development
• Systems & processes
• Technology
• Social media

To be successful, you need to be interested, willing and able to execute these things. Having said that, you can outsource a large portion of these elements, so don’t despair if these are not your strengths (the following section discusses this in more detail).

HOW YOU CAN MAKE IT WORK

Although in the beginning, you might have to invest a lot more of your time, the end goal of creating an online business should be that you are not trading your time for money. This can work in two ways.

Firstly, if the reason you want to start an online business is to turn a hobby or passion into an income, outsourcing particular tasks or business functions that are not your strength (and you strongly dislike doing) will increase your chances of creating a business that makes you happy and won’t involve sacrificing your time doing things you don’t enjoy.

On the flip side, if your reason is to ultimately have more time and freedom, then your aim should be to eventually grow your business so that it doesn’t require full-time
input from you.

Working out how to outsource and set up a sustainable business model from the get go is key to both, and below are some resources from experts who have achieved this.

RESOURCES

The above blog is a snippet of the ‘Idea to Online’ eBook.