Want to Build a One Person Virtual Business – 2020 Guide

For professionals who prefer to work alone at home and at work, there is no better choice than a Virtual Enterprise (VE). What is the difference between typical intellectual property and virtual intellectual property? A lot. Firstly, a traditional joint venture is often run by a single person who avoids delegating tasks, handles personal sales and deals with common physical products. Another important difference is that individual entrepreneurs often rent office space and have little or no e-commerce activity. The chiropractic office in the city centre is a joint venture, but not a virtual one.

Learn how to start your virtual business in less than a week. All you need is a desk, a very comfortable chair and a computer with internet access. Your business will be completely online, you will outsource almost all of your core business except your core competence, you will not have an office and can work anywhere with a power outlet for your laptop, and if you sell physical products, you will need space to store them.

Choose product


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Which niches are most suitable for ventilation? Of course, digital products and the creation of intellectual property are the most effective. Services such as websites, consulting, e-books and software are ideal, but traditional business services, art, crafts, handmade jewellery and products with a new brand name will suffice. The basic concept is to make stock management as simple as possible.

Outsourcing as many functions as possible


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If you write e-books on investment topics, you can outsource research, initial design, sales, marketing, email list creation, book cover design, secure storage, distribution and other tasks. In this case, some online publishers will do most of the work in exchange for a lower profit. If you are satisfied with this scheme, all you need to do is find a few competent authors/researchers and pay them to create content that you can implement in the final product.

What can I outsource? In addition to the above examples, it is easy to find support in the tax, legal, accounting, IT and marketing areas by finding online job advertisements where potential employees place ads for free. Test multiple people before choosing one for each function. To keep costs down, you should consider using freelancers who are hungry for experience but have strong skills.

Note: transport and delivery


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You will want to outsource the delivery of physical goods and the delivery of electronic products, but be careful with that. This is one of the areas in which you do not want to use freelance help. Choose from trusted organizations such as the U.S. Post, a large private courier or a local company you already know and trust. For non-physical items such as e-books and applications that you have developed, you can contact a reputable company that has experience in the secure delivery of these items. If you are not an IT professional, do not deliver by e-mail. A company that specializes in the transportation of electronic goods knows how to encrypt information so that hackers cannot copy your unique creations. There’s no point in making a good e-book or creating an application for days if you’re not willing to deliver it safely.

Use of the transcription service


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Transcription assignments for outsourcing to professional service providers. This approach has enormous advantages. For example, if you have an MP3 audio watch that you want to use in an online print ad or as a promotional video on your social networking sites, you’ll find a specialized transcription service that can quickly convert huge amounts of data. Not only will you save valuable time and the cost of hiring someone to physically decode the material, but you can also enter your new text in any of 119 languages. You can then export the files to a location of your choice.

Receiving legal advice


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What if you were the target of a copyright lawsuit? Do you know how to react? What if one of our customers said a product you sold, such as a handmade necklace or bracelet, cracked and infected their skin? Do you need to contact the customer to discuss the situation? These are just two of the many legal situations virtual entrepreneurs can find themselves in. It’s easy to talk about outsourcing your legal function, but that’s not enough. To protect yourself from the serious financial damage that a single lawsuit can cause, you should seek advice from a local lawyer with experience in corporate liability. Pay for a session of half an hour or an hour, as needed.

A short conversation with a lawyer who knows what the country is can save you thousands of dollars and maybe even your entire livelihood if you are sued. Many lawyers will show you what types of liability insurance you should have, how to avoid litigation in the first place and much more. If you can afford it, consider prepaid legal services. For a reasonable monthly fee, you will have a lawyer who is always ready to defend you and the fee will be considerably lower than a lawyer without a pre-paid contract. Nobody wants to think about being sued, but it happens more often than you think, even cautious businessmen who aren’t wrong.

Find your first customer


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This first sale can be a nervous affair. Usually small entrepreneurs go bankrupt now. They do all the work of building the infrastructure, planning, outsourcing dozens of jobs, and then when the time comes to get serious, they freeze. One way to survive the first two weeks as a self-employed virtual entrepreneur is to do at least a dozen searches per day and send the same number (or more) emails to promising candidates you find online or in the search phase. Never miss a day without adding at least two addresses to your email list and five names to your contacts list. After a few hectic weeks with one or two sales, the hardest part is behind you and you are ready for prosperity.

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