The 3 Phases Of A Successful Online Arbitrage Business - Powerful Model To Gauge Your Progress

In this blog post, I am going to be sharing with you the 3 phases of a successful online arbitrage business. I am going to give you an online arbitrage example. These 3 phases can be used to gauge your progress where you currently are, manage your expectations where you are in terms of your life cycle of your business, then really look towards the future and plan ahead to know you are going to transition between these stages, and ultimately have a successful business. This is coming from experience, this is Kev's experience, and the 3 stages of what Kev has come to learn.

Learn

The first phase when you are starting an online arbitrage business is simply learning. You are going to be consuming a lot of information you are going to be researching a lot of information about what is online arbitrage, and what the strategies are, what the technics are, what the tools are, and it is going to be that first phase where you are just simply learning. You are rapidly trying to consume as much information as you can, and there are going to be parts of you which don't believe it is going to work, there is going to be the natural phase where it is new and you don't understand much, you are not comfortable, not sure whether or not this whole philosophy of buying something from one place and sending it into Amazon isn't going to work. This is the first phase, and you are going to be in rapid learning more, especially if that doesn't stop you, and you overcome those beliefs, and then take action and test it and get a result, you are then going to believe it, then you start to learn even more.

Learn more on online arbitrage here: 

Transition Away From Tedious Tasks 

You then start to transition naturally into phase 2. Phase 2 is when you are not thinking of beginning to transition away from the tedious tasks. You then believe and naturally come to conclusion that you need help in your business - this may be via virtual assistants, employees, automated services, you then naturally search for things to be working even smarter, and outsourcing little parts of your day to day tasks to expand your business. You will bring more resources towards you, which will have the affect of growing your business. Once you bring a virtual assistant in, you are going to grow, because you are not just doing two people's work, you will have two people doing the work, which will give you a bigger effect.

Learn more on virtual assistants here: 

Systemise Your Business

In this stage you are going to learn a lot - you are going to learn a lot about yourself, you are going to learn a lot about how to manage people, manage business expenses, and you are going to learn a lot and push that comfortable zone. 

Phase 3 is ultimately the successful completion of you. This is when you transfer into a business owner. This is when you are now the figurehead of your business, you are at the strategic level, you have put systems in place - you have systematised your business to manage the business without you. You have put policies in place, you put working procedures in place, you've put systems in place to ensure that your business is operating without you. 

Further reading:

How To Achieve Goals - 3 Tips To Ensure You Achieve Them

How You Can Open 3 Wholesale Accounts In 24 Hours

How to Make Your Business Easy to Sell