6 Things To Know When Starting An Online Business

Last updated on 17 January 2025

This post may contain affiliate links. If you make a purchase with one of these links, I recieve a small commission at no additional cost to you. Read the full Affiliate Policy.

I wish I didn’t make these mistakes when I started my online business, Wood Media LLC

When I first started dreaming about an online business, it wasn’t to be a graphic designer.

When I started dreaming about being a business owner I was in school to be a Dietitian. I strived to own my own business and help other women improve their nutrition. A few years later and here I am, graduating with my degree in Graphics Communications (in May 2021, yippee!), running my small graphic design business, Wood Media LLC, and loving every single minute of what this business has done for me and my family.

I have always loved art, but until I was a sophomore in college I didn’t allow myself to picture art being my career. Mindset is huge when you are choosing your life path, but that’s a post for another day.

In my small business today, I actively help new female small business owners create a professional business that they can afford. I do this through Squarespace web templates, brand identity services, and genuinely connecting and answering questions that they may have on Instagram.

I have learnt a lot along the way, but there are 6 things in particular which I wish I knew before I started my online business.

Building relationships and networking are so important
Working more hours doesn’t mean you’re more successful
Set your goals and stick to them
Don’t wait for opportunities to come to you
Actively improve your skills
Plan for the long-term results

1. Building relationships and Networking are SO Important!

As a solopreneur, it’s likely you feel lonely at first in your business. But keep in mind that even if you have a business partner or a team by your side, it’s still crucial to build relationships and network, both online and offline.

When you connect with mentors, join mastermind groups, and reach out to people in your industry to connect, you will not only grow your network but you will help yourself stay sane and motivated towards growing your business. Often when you grow your network, your business grows with it. More quality connections = more quality referrals.

When you’re connecting with those online, one important thing to keep in mind is to have quality conversations. Quality is more important than quantity.

For example, you should strive to have two quality business connections rather than 10 business connections that you’ve only had one or two brief conversations with. The benefit of having even two quality business connections can be huge for your business! By building your network you are finding great business friends along with growing your community that’s filled with your dream clients.

2. Working more hours doesn’t mean you’re more successful

Come along with me on this scenario that I feel every new entrepreneur goes through:

You’re a brand new business which is striving to book out clients, sell out your course, or increase traffic to your website and social media accounts.

You make a huge to-do list of 13+ items for you to get done that day, varying from large tasks to smaller tasks.

But as you are working on your to-do list you are 3 hours in and have only completed one thing on your list of 13+ items. At this point you start to stress so you speed up your work time, therefore decreasing the quality of the items you are creating, the quality of the connections you are making, and you’re moving towards burnout. By the time you have the whole list completed you have been working from 8AM until 8PM and you still don’t feel fulfilled from the work that you completed. Although the list is completed, you know it isn’t your best work.

What I have learned is that planning ahead is crucial. If you have a big launch of a new product coming up in a month you should make a list of all the items that need to be completed before the product launches. Instead of cramming that whole list into one day or even one week, space out all of the tasks throughout the next month. It’s crucial to make your workload manageable and also make it so you’re enjoying it too. If you are stressing to complete a task because you have too much on your plate I encourage you to take a step back, breath and re-evaluate your launch plans.

Another thing to remember when you are planning out your schedule is to prioritize time for self-care and miscellaneous tasks. The benefit of being self-employed is that you get to make your own schedule and build the life you’ve always dreamed of! It’s OK to take time for yourself as a business owner. Don’t fall out of love with your business because you overloaded your plate too often.

3. Set your goals and stick to them

Growing a business takes a lot of time and effort. I encourage you to write down ONE long-term goal that you want to achieve in the next year, then from there make a couple of medium-term goals and a few short-term goals. Here is an example of goal setting:

Long Term Goal
- Be 100% full-time in your business in one year.
Medium-Term Goals
- Reach your financial goal for all of the fiscal quarters of the year (1st, 2nd, 3rd, and 4th)
- Have a consistent client or sales pattern that’s slowly growing towards your goal
Short Term Goals
- Book your first client/sell your first product
- Launch your first service or product
- Stay consistent with networking and client interactions

Break down the goals into smaller goals so you can celebrate the wins more often. I don’t mean every day, but every other week or once a month is a great start. When you have a special incentive for yourself when you complete a certain task helps you stay motivated to put in all the work that needs to be done to reach your long term goal. Praise yourself for putting in as much work as you do and understand that you are learning as you go. It’s okay to still be learning and growing from your mistakes, everyone is just at different levels!

4. Don’t wait for opportunities to come to you

In today’s world, you can’t wait for an opportunity to just come to you. If you’re driven to become self-employed and create your own schedule and lifestyle, you have to advocate for yourself and work towards your goals.

It’s scary to reach out to someone whether it’s an individual or a company, both can be equally as intimidating when you’re first starting out.

Don’t wait for an opportunity to come to you, create your own opportunity and run with it. There are plenty of online resources that are available to teach you how to run an online business. I know I am always an open book and willing to help new entrepreneurs get their burning questions answered.

5. Actively improve your skills

Determine your niche and what tasks are most valuable for that niche. Even if you have a degree, that doesn’t mean there aren’t things that you can improve on and work on.

For example, if you are a blogger think about these few things:

What skills do I use and need to be successful?
What is my niche? (who do you blog for)
What skills make my life easier?

A few answers could be:

As a blogger, you write a lot. Improving your writing skills and learning SEO for your blog is key
If you’re a mom blogger, you should write about things that moms specifically would like to read and products that will interest them and help them in some way
Being able to write, have an optimized website, and know how to make graphics for your social media and website is another handy skill that would be beneficial to have as a blogger.

6. Plan for the long-term results

I touched on this earlier with long-term goals but I will touch on it again because businesses that don’t think about the long-term are most likely not going to make it. As a business, you need goals to work towards and accomplish in order to actively move in the direction that you want your business to go.

The more you plan for the future (and manifest your future) the more likely that future is actually going to happen. It takes a lot of hard work and determination but with the right supporters and the right planning, you can make your digital business dreams come true!

I hope this blog post was helpful for you today. I look forward to connecting and getting to know each and every one of you!

Elizabeth – Wood Media LLC

Elizabeth is an Iowa based graphic designer who runs Wood Media LLC, a small graphic design studio. When she’s not sharing about everything design and helping her clients create their dream businesses, you can find her exploring with her boyfriend and two dogs, and enjoying a cup of coffee while manifesting life!