Because of the global economic situation, many are coming online, to start an online business. Thus realize a basic fundamental right, to be able to provide for themself and family. The purpose of this blog, “Steps To Starting Online Business,” will show you how you can do so.
However, the truth of the matter is that starting an online business, is not as easy as some might have thought. It requires know-how, dedication, and determination.
Why am I saying this? I am saying this not to scare you away from realizing your dreams, but rather, I am just expressing a fact.
And besides, another reality that should be brought to your attention, is that people are really making money online. So making money online, is not a wishful thinking but a reality.
So you too can successfully make money online, provided of course, as mentioned earlier you know what you are doing.
As a result, to help you attain much success in your desire to make money online, this blog, “Steps To Starting An Online Business.” will show you exactly , the steps that you should take to start an online business on a solid foundation.
Find A Business Idea.
The first step in starting an online business, begins with an idea. Ideas always start in the mind. And that is a fact. All the things that have been invented or created, were mere ideas that were conceived in the minds of the inventors. So it is imperative that you find a business idea.
Some people believe that success is achieved toward the end or at the end. Do you subscribe to such thinking? Success always start at the beginning of things. The initial step or stage of things always lays the foundation for success.
If you do things correctly, or the right way today, then success will follow. If you study hard today, then you will pass the exam tomorrow. So what you do today lays the foundation, for success tomorrow.
It is like a building. A strong and solid building will require a solid foundation being laid. so with that said, have you thought about a business idea? Do you have a business idea?
Most people who come online, skip this vital process, and this has resulted in the failure of their online business adventure. And I don’t want this to happen to you. I want you to lay the proper foundation for a successful business venture. Laying a solid foundation is part of the steps to starting online business.
So you might be thinking, but how can I develop a business idea? It begins with you asking yourself some questions such as:
Is there a need for this product or service? This is a vital question to ask yourself, won’t you agree? Because why will you ever start a business, if there is no need for the product or service? That could be a recipe for failure. Hence you must determine if there is need for your product or service.
The next question you should ask yourself is, what is your motivation? You have to candidly answer this question.
Is it because your friends or a family member has started one, therefore you want to start one? You see, your motivation has to be stronger than that. Your why reason must be powerful enough. It has to be something that you are afraid of. So what are you scared of? What are you afraid of? Is it the fear of being poor? The fear of not being able to provide for yourself and family? The need to escape from a stressful 9-5 employment?
Your motivation should be so powerful that , regardless of what challenges you face in your online business, it is your why, that will help you not to quit, but will inspire you to persist, until success is finally realized. So again, the question, what is your motivation? This question begs for your serious consideration.
Know Your Business
Here is another question that you have to ask yourself. What problem does your business solve? To help you answer this question, it will require that you take the time, to fully analyze your business, so that you know and understand not only how it functions, but also the problem that it will solve.
Here is a fact dear reader, a business’s existence is to solve a problem or to provide a solution to a problem. Do you believe that statement?
It is therefore critical then, that you get to know your business, and identify the problem that your business is designed to solve. Because when you help people to solve their problems, or when you provide solutions to their problems, not only will you build trust, but that is how you will make money online with your business.
The next question, to ask yourself, as you try to determine your business idea is, can you leverage your strength in the business?
Recall in the preceding paragraphs, it was stated that you have to know your business? Here again, for you to leverage your strength, will require that you take the time, to analyze yourself, so that you can determine what your strengths are, which you can then leverage.
For example, are you a hard working, persistent, dedicated, determined, honest etc. These could all be viewed as strengths. So again, you have to examine yourself, and identify what your strengths are, and utilize your strengths to grow like a tree, your business, in order for it to become a successful one.
Determine Market Viability.
The next step we are going to discuss, is market viability. What is market viability? It is the potential of having a successful business in a specific market.
To determines your market viability, requires that you do your own due diligence. Your market viability analysis, will help you to evaluate three components:
- The market size – Is it big enough to accommodation you? Is there room for this market to grow?
- Your target customers – Are they willing and able to pay for your products or services? Will they keep coming back? Will they tell their fiends and relatives about you?
- Your competitors — Who are they? What do they do differently? What are you going to do, in order for you to stand out as unique from the rest?
- SWOT – means your strengths, weaknesses, opportunities and trends. As mentioned in the preceding discussion, you have to be able to identify, not only your strengths, but also your weaknesses. And you must be aware of any opportunities or trends that might exist in your environment, so that you can use your strengths to seize those golden opportunities and trends.
We can clearly see that market viability is very important, you must not skip this step. You must have a complete knowledge and understanding of your market, your target audience, your competition and your brand. When you do that, you will be ensuring the viability of your business.
A Business Plan, A Step In Starting Online Business
So you have determined your business idea, determined your market viability. What is the next step? The next step for you , is to create a business plan.
What is a business plan? A business plan is a document that defines extensively, a company’s objectives, and how it plans to achieve those goals and objectives.
And as humans, from the time we are kids, when we went to school, or at our jobs, it has been drilled in us by our parents, by teachers and by employers, the need to have goals, and plan of action. Is that not true? And we were constantly reminded, that without goals and a plan of action, we will not make a success out of life.
This principle also holds true in the business world. A business without goals, objectives and plan of action in place, can be likened to man in a boat, without a paddle. He will aimlessly be drifting away in the vast water, without any sense of purpose.
So then, why is a business plan important? What is the purpose of a business plan? A business plan enables you to create an effective strategy for growth. And part of that strategy, can include determining your future financial needs, and the ways and means to attract investors.
A business plan can also demonstrate that you are serious about your business, and allows you to better understand your customers and competitors. It allows you to be focused, spotting potential challenges and opportunities. It also gives you the ability to evaluate your business to see if you are meeting your business goals and objectives.
A business plan is vital, it can mean the difference between a successful business and a failed business. So having a business is a step to starting online business.
Your Website, A Step In Starting Online Business
So you have identified your market idea, determined market viability, and created a business plan, so what is the next step to your building an online business? It is now time to build your own spunky clean website.
Me, build a website? Yes, you have to build your own website. And you heard me loud and clear. Let me repeat it again. You have to build your own website.
And do you know that dear reader, most people coming online, protest loudly, even though, I can’t hear them, yes, protest very loudly when you tell them this simple and beneficial fact, about them building their own nice website, so that they can start making some nice money? They really do scream, and I am sure if you do listen carefully, you can even hear their screaming.
But let me ask you though, why are they screaming? I will be so kind enough to tell you the answer. They are screaming, because they are terrified of building a website.
But really should building a website inflict such terror in them? In the past, many many moons ago or ions ago, there was justification for such fear. Even myself, I was very very terrified. Why was that so? Because building a website was too difficult, was too complex and was too technical.
That sort of task, was left only for the rocket scientist. And you want to know a secret, even some rocket scientist were not even able to figure out how to build one.
Let us fast forward it to the present. Do you know that today, the process has been simplified, that even a monkey can build a website? A monkey? Yes, I said a monkey.
Jokes aside dear reader, the process of building a functional website, is so simple, that I have the fullest confidence in you , that you can build a website in less than 30 minutes. It is like taking a candy from a baby, that is how simple it is.
And, you can use free tools, with simple tutorials that will help you build your own website. To make is even easier, you can have people for a small fee, build you a professional, gorgeous looking website, that will convert well and start making you money in no time.
You see I told you, that there is no need to be terrified about building your own website.
Why do you need a website?
- You need a website to maintain an online presence. Just as offline people have a storefront, from which they conduct business, Similarly, your website is like the storefront of your online business.
- A website can project your business image. Without a website, people may question whether your business is legitimate, it allows you to make a great impression, especially if your website is well designed, with meaningful content.
- It makes your business available 24/7, given you the opportunity to sell and make money, even when you are sleeping.
So again dear reader, for matter of emphasis, you need a website. Won’t you agree?
Analyze Your Competitors
This is another crucial step in building an online business that must not be ignored. We have touched on this point, in an earlier discussion. In view of this, we are just going to mention in passing, the need for you to know your competitors. You can do so by doing a competitive analysis, which can help you determine, who your competitors are, and the strategies that they are employing to bring them success. You can adapt or modify these strategies to fit your own ideal situation.
Driving traffic is another vital step. Here is a fact, I want to pass on to you. And you can, if you like, pass this on to generations to come. Are you ready for it? Traffic is the life blood of your business, or any kind of business for that matter. And that is a profound statement. But whether you do agree that, it is a profound statement or not, the point I want to convey is that, traffic is vital to the existence of a website or a business. To be honest,, what I said about traffic being the life blood of a business is true, but is that statement profound? No, it is not a profound statement.
And there are many ways, you can drive traffic to your website:
- You can invest in PPC advertising, and PPC ads are instant, with quick results.
- You can use social media platforms to generate traffic. Again if you want quick results, you can invest some money. In fact there are courses online that will show you how you can generate load of traffic for your website.
- You can also drive traffic to your website, for free using search engines. This will require you to use research tools, that will assist you in finding profitable keywords. Profitable keywords are keywords that have, high search volumes, but few websites competing for the same keywords. This is a long term strategy, but the traffic you get is free and lasting.
What is the point that should be stressed? You must have a constant flow of traffic, if you are going to survive in your online venture.Driving traffic to your website, is included in the “Steps To Starting Online Business.”
In the online business world, you should strive to be an authority in a chosen niche, as discussed in previous blogs. In order for you to be an authority in your chosen niche, you really got to know not only yourself, or who you really are, but must also get to know your target audience. What is it that they are looking for? What issues or problems are they dealing with?
Based on such knowledge, you can provide or create high quality content, that will address their needs and concerns. Thus, your content will be useful and of value to them.
Your content should take the form of videos, articles, blogs , info-graphics etc.
So producing a high quality content, is one of the keys to your online success.
Here again, I am sure you might protest loud and clear, because of your in ability to write a content, for the fact that, you are a kindergarten drop out (laugh).
The truth of the matter is, I also had the in ability to put a simple thought on a piece of paper. But what helped me? I practiced, practiced and practiced. The result, though not perfectly, I am able to express or put a simple thought on paper. I have made some progress won’t you agree?
And you can do the same dear reader. Have you heard of the expression, practice makes perfect? There is some truth in that statement. If you practice, practice and practice, you will soon be able to write clearly, express yourself eloquently and write as an expert or authority.
But you might still be protesting, that you will never be a gifted writer. I am even sure, that you are repeating the never, three or four times to express how you really feel. ” I will never, never, never, never be a gifted writer.”
Well if that is how you really feel about writing content, that is fine with me. I hate forcing people to do what they hate doing. However, I don’t want any obstacles to hinder you from attaining your online dreams. Hence, I would like to again bring to your attention that there are always people for a fee, who are waiting to write for you a professional and high quality content, which will enable you to not only make money, and take full credit for the writing, but will also establish you as an expert writer.
Invest In Email Marketing
Have you heard of the expression, the money is in the list? This is really true. The money is really in the list. This is why, the most successful affiliate marketers have their list. You should be wise also to build your own list.
By the way, do you know that those” followers” on social media don’t belong to you? Unlike your “followers” on social media, your email list is a valuable asset that belongs to you.
To be able to build your list, you have to create an opt-in form on you page, that will enable you to gather names and email addresses of people. You have to give them an incentive, in exchange for them giving you their emails. It could be a free e book, quality content or anything of value.
With your list, you can develop life long relationship with them, and offer them whatever they need. Here is an example of an opt-in form:
Unlike other marketing methods, email marketing is cheaper and affordable. Some you can join for free, but with limited features, others you can join with monthly subscriptions but very affordable. You have excellent email service providers such as:
All of these service providers, have features that will allow you to automate the whole process,thus enabling you to build a good relationship with your audience, and generate revenue while doing so. Yes, the money is in the list, so take advantage of email marketing.
Also, you can try up-selling as a business strategy. What though is up-selling? It is a sales strategy, that encourages customers to buy a more expensive, upgraded or premium version of the chosen item or other add-ons for the purpose of making a larger sale.
Why is up-selling important?
- Helps build deeper relationship with customers
- Up-selling leads to increased customer life time value
- Customers come for more, especially when you reward your loyal customers, you are likely to keep them for a long time.
And to make things easier, there are online courses, available to help you.
In our discussion, “Steps To Starting An Online Business,” it was mentioned that because of the global economic situation, people are coming online, to start a business.
We also mentioned that most people coming online, with the intention to start an online business, lack the know-how and skills to do so. Hence, it was indicated that, the purpose of this blog, “Steps On Starting Online Business,” is to help such ones.
We therefore highlighted steps that these ones can take to help them start an online business, and do so successfully.
These steps were considered to be crucial for starting an online business:
- Find a business idea
- Determine market viability
- Create a business plan
- Build your website
- Analyze your competitors
- Drive Traffic
- Build authority
- Invest in email marketing
- Try up-selling
So dear reader, it is my hope that you found this material,”Steps To Starting Online Business,” to be useful and valuable. If that is the case, it is my hope that, you will apply some or all of these steps, in your online adventure. And I have the utmost confidence that if you do, not only will you be laying a solid foundation for your business, but you will be able to build a thriving and successful business.
Please, I need some help from you. If there are any areas in this blog, “Steps To Starting Online Business,” that you feel I need to improve please, let me know. Also, if you feel that this blog has been of some help to you, I would appreciate it if you can share it with friends, relatives and others.