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The life of an online entrepreneur is that of risk, unlike a full-time job there is no safety net to being an online entrepreneur and can be a difficult industry to enter, you are your own boss and every pay-cheque comes down to you and you only. Despite, these risks the rewards involved in entering the ever-growing online world are countless.

To enter this world you need to have confidence in yourself as it is highly likely you are going to receive knockbacks, it is highly unlikely that you will enter this world and just become an instant success. If you are prepared to take a lesson from the mistakes that you will make and keep growing, keep moving forward, you will eventually find your gold mine. Remember every knockback is a lesson so be your own harshest critic, and you will find your feet in this new world.

No business has ever succeeded without a plan, so before jumping into anything it is important that you create a sound business plan. It is not necessarily a bad thing to look far into the future, but when you are first starting your business it is important to try focus on your first year, as this is the period when most businesses will close their doors. Your plan should try cover income, expenditure, analysis, planning and infrastructure. You should try keep in constant contact with your plan, so you can understand if you are moving too fast or too slow, after this first year you can allow yourself to take more risks as you should have a stable business under your belt.

As I mentioned in the introduction this world can be quite isolating, so it is extremely important to create as many links as possible with people currently in the online sphere. These links will allow you to make up on experience that you may not possess, as you can now learn from already established entrepreneurs who have a wealth of experience and lessons waiting for you, so try attend as many conferences as possible and think of creating a Linkdn page, these links can be essential for any in-experienced entrepreneur.

It is important that you know your own limits and try not do everything yourself. As I previously mentioned you should be your own harshest critic, so try analyse your own strengths and weaknesses, then once you have this understanding of yourself put your energy into what you are actually good at. The difference between a successful and unsuccessful business can be just knowing this.

It is then quite important that you hire well to cover your weaknesses, but it is important that you try not move too fast, so again keep in check with your business plan and see what your expenditure can afford. This is also where those previous links come in to play, if you are new to this world how are you meant to know how to find or how much to pay your new workers, these links can give you the guiding hand that will be needed in the early days of online entrepreneurship.