Starting an online business nowadays is so easy, even my 16-year-old sister can do it.
All she needs to do is just install WordPress with some ready theme, start writing her blog, find products related to her niche and place affiliate links on her site, and post it on social media on a regular basis.
Of course, it can get much more complicated than that depending on the business model, but it really hasn’t been easier to start a business online than ever before. The problem is to PROTECT your business. By protecting I mean to sustain it and allow it to earn you money for as long as possible.
The following are 3 Great Techniques of achieving just that.
Get Yourself Biz Insurance
This will cost money. Sure. But it has the potential to save tenfold more money should something happen. You home insurance of course won’t cover any costs if something happens to your online business. For this purpose, you have get special business insurance.
Make sure that you do a proper research before you buying anything. Consult an expert if needed. Better to spend more money and make a good decision that will save you money in future, or spend less money but make a decision that cost you much more.
Open your legal entity
You can’t run your online business forever as an individual. Besides, opening a limited liability company will really add lots of protection. The advantages are numerous:
- Separating individual belongings from your business’s assets
- Opportunity to absorb risk for any debt should you apply for a credit. This means that you won’t have to cover everything from your personal assets.
- Yes, you can register your own trademark name and stop competitors and imitators to use your name online.
There are really many ways of how to achieve this. If you are running your website on WordPress, make sure that you update all your themes, plugins and WordPress version on a regular basis. Also, install security plugins such as Sucuri or Wordfence, they’ll add lots of security layers.
If your code is developed in-house, make sure that consult a security expert and protect your server and website as much as you can.
That’s it. Just follow these 3 Techniques and your online business will certainly make you money for long periods. Protecting your assets is very important, and always remember the famous quote: Never put all your eggs in the same basket! So diversify your online businesses, and make sure that you’re protecting them from the competition at all tmes.
— Álvaro López Herrera (@allopher) 22 de junio de 2017