3 Things No One Ever Told You About Running a Virtual Business
By Beth Santos (CEO, Go Girl Travel Network)
What kind of speakers will you see at our
City Meetups? A founder who spoke at a Chicago event shares the surprises she
encountered working remotely.
If you’re anything like me, when you started your
business you really had no idea what you were doing. Or maybe you’re one of
those people starting their business now and are in exactly this situation. The
truth of the matter is that a lot of entrepreneurs have walked in your shoes.
Entrepreneurship itself is an experiment that’s 20% knowledge/advice and 80%
just figuring it out for yourself.
When I started Go Girl Travel Network, I had a lot of
expectations about what running a business would look like. However, when your
company is virtual, like mine, things are different from your everyday
brick-and-mortar enterprise. Go Girl is an online resource and community for
women travelers. Our 30 writers around the world share their travel tips for
women, and our meetup groups in various hubs bring women travelers together for
networking and events. With a heavy online presence and a wingspan around the
globe, we’re not the same as a lot of the companies we see around us.
Nowadays, however, more and more companies are
starting virtually. They don’t have a storefront location, and do much of their
business online. In many ways they’re international without realizing they are.
We are the new generation of businesses, and we’re growing.
Here are three things no one very told you about
running a virtual business:
You Don’t HAVE to Get VC
Funding
Venture capital is amazing. It helps you jumpstart
your company, provides you instant access to great advice from experts, and on
many occasions introduces you to a whole community of entrepreneurs. When I
talk about my business, often one of the first questions I get asked is how I
got VC funding. My answer is this: I didn’t. I bootstrapped my company. I opted
for slow growth in exchange for full ownership. Both approaches have their own
successes and challenges. But the most important thing is having a strong
business model and the tools to move yourself forward.
Build Your Phone Skills
The minute I went full-time with Go Girl Travel Network,
I added my cell phone into my email signature. As if prompted, I started
getting business calls that day. I realized that phones still rule the business
world. Let me make a correction: people with phone skills rule the
business world. Since fewer and fewer people use the phone nowadays for
business (especially in the virtual community), those who can speak eloquently
and make deals verbally reign over everyone else. Trust me – it’s true.
You Need a Team More
Than Anything
I think a lot of people who run virtual businesses
rely heavily on contractors from places like Odesk or Elance. I know I couldn’t live without the people
I’ve hired there.
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