How To Start An Online Business That Is Actually Successful And Profitable
So you have decided to take things in your own hands, leave your job and start a business. But as you make the decision, you are already faced with various obstacles like less capital or not enough time. You need not worry. You can start an online business instead. An online store is accessible to people worldwide, instead of only those who live nearby, as is the case with a physical shop. Online business is the most effective way to reach millions of people, without the expenditure of a setting up space. You can earn even when you are sleeping! We will tell you how to start an online business here. Learn not only the basic steps on how to start an online business but also how to work at it so that you earn a nice and steady income.
Like any other business, an online business also needs an excellent business plan and dedication to see it through. You need to select a product that will always be in vogue and you need to price it competitively. But the most important thing is that you need to start small. Many people make the mistake of putting in all the funds they have into the business, then panic when there are little or no sales. Learn how to start a small online business first, and if it is profitable, you will only grow from there.
Now let’s see how to start an online business successfully:
1. Study The Market
The first and most basic step before you begin to think about how to start an online business is to do a market survey for your field of expertise. Try to see what the current or new upcoming trend is. Many people make the mistake of starting a business, then wondering what to sell. Once you get an idea about what the current market trend is, you can proceed with the next step.
2. Make Your Product Unique
Whatever idea you may have on how to start an online business, be sure that many other people don’t have the same idea. You have to think of ideas that makes your product different from the others. Your online business can reach millions of people, but you need to make sure that they select your product over other similar ones. Select a niche market and stick to it in the beginning. Once your customers know you give them the best quality products, you can expand slowly into other niches.
3. Register Your Business
Just like you would register a shop or a physical business, you will have to register your online business. Plus, registered online business is more credible to potential customers than thousands of unregistered ones. Choose your business name and register your business by following the rules and regulations of your state or area. Before registering your business, make sure you have a solid business plan in place. It should contain all your ideas, including finances and contingency plans.
4. Get A Domain Name
The most important part is selecting a catchy and quirky domain name for your online business. It must catch people’s attention quickly and must be easy to remember. Visit a domain registration company’s site and check the names you have selected to see if they are available. When you get a good one, register it.
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5. Get a good web hosting service
Though there are free web hosting services available, we would recommend you to get a paid one if you are really serious about successfully running an online business. A paid hosting service usually offer you all the services you would need for operations. Many also allow scope for growth. You can choose from a variety of hosting services based on their templates plans and flexibility.
6. Create An Interesting Website
Your website is your storefront. It is the medium that is going to attract customers. The most important thing you should remember while designing a website is that it should be easy for a person to navigate through various pages. Your page should also be engaging. Choose correct backgrounds and fonts to complement tour products. Do not make it too messy or overwhelming. Keep the buttons visible. Make it easy for a customer to choose a product and make payments. A thumb rule is that a customer should be able to make a purchase in two clicks.
7. Get An E-commerce Software
This software is important so that your customers get a secure gateway to process payments. This software usually stores customer data securely for future purchases. Many people skip this step as the benefits are not immediately visible. But it is one of the most important steps, mainly because it establishes a relationship of trust between you and your customers.
8. Get A Merchant Account
In earlier days, e-commerce websites had to simply rely on cash or cheques for payment. Nowadays, payment services like PayPal have made it very easy for you to set up a merchant account and accept instant payments through credit or debit cards.
9. Promote Via Social Media
Social media is a powerful tool you can use for generating business leads. Create a business account on Facebook, Twitter, LinkedIn, Pinterest and Instagram and use these platforms to promote your business. Platforms like Flickr are useful if you have a creative business such as photography. Keep your business sites on all platforms updated regularly with news, market researches, new product lists and so on.
10. Keep Your Content Interesting
In the virtual world, less is more. Refrain from adding too much information on your pages as it tends to overwhelm the lay customer. Present your products or services in the simplest possible way, using descriptions only where necessary. In case you plan to run an educational website or a site where you promote your skillset to prospective employers, keep your language simple and to the point. Avoid jargon and try to create a connection with the visitor.
11. Add Google AdSense Advertisements
If you wish to start a small online business, Google AdSense advertisements are great for generating a steady income. They are ads for products and services that are related to your content and are usually useful to attract frequent visitors.
12. Start affiliate marketing
Many companies are looking for people to market their products or services in return for a fee. You can sign up for their affiliate programs. You will get an affiliate ID and an affiliate link. Whenever a user buys a product of the company by clicking on your affiliate link, you get a commission. Affiliate marketing is also a great way to keep a steady side income coming in while you work on your other skills.
The Internet has made the world smaller. If you want to start a new business, but haven’t got the capital to proceed, you need not lose heart anymore. The World Wide Web is always there for your rescue.
Starting an online business is just as demanding as starting a physical business. You have to attract customers, gain their trust and build a relationship with them without ever meeting them face-to-face.
We hope these guidelines we have listed help you and clear your doubts on how to start an online business.
3E Accounting India
3E Accounting India is a corporate service provider and accounting firm assisting clients with company formation and incorporation. We offer company secretary and business-related services in India.
