It’s Today it seems like almost everyone in the world has one or two forms of businesses online. Although it might appear slow, more and more people in the world are unquestionably adopting an entrepreneurial mindset along with their regular 9-5. Since it is unimaginably daunting to be an employee and employer all at once, the internet has been the go-to place for most emerging entrepreneurs.
If you are already on the long list of people hoping to build the next Fortune 500 company or you just feel the need to try something new and challenge yourself outside your regular lifestyle, here’s how to start an online business and radically transform your business.
Why should I start an online business?
Well, we don’t know for sure, but we’re willing to bet a hundred bucks that it circles around job satisfaction, career change, improved income, innovation or financial freedom. It could also be a combination of any of these factors. Whatever may be applicable in your case, the benefits of starting an online business is enough reason for everyone to think about starting up on the web. Here are a handful of the many advantages of starting an online business.
- Freedom and Flexibility
- Engage a global audience
- Low cost of startup
- Supplemental and passive income
- Lower overhead, higher margins
- Increased revenue and financial freedom
- High scalability
How to start an online business
Although the internet seems to make everything very accessible, starting an online business can be just as tasking as maintaining a physical brick and mortar business. Agreed billions of people use the internet on a daily basis, the number of businesses registered online rendering the same services is just as high.
When it comes to online businesses, the competition is just a stiff, if not more competitive than some physical business sectors. This is why it is imperative that you take the best action and be prepared before diving right into a niche that you prefer. Let’s begin with some steps to guide you.
i. Find a need and provide a solution
Irrespective of your passion, the first thing to do before you conclude on any niche to enter is to locate the need and fill the void. This is very important to ascertaining whether there is a business in wherever you have decided to invest your time and effort. Even when you want to work where your passion lies, you will need to blend your skill set into the available demand, otherwise, you could easily be frustrated and be out of business before you even start. Look to online forums, competitors’ websites and research keywords to find a growing need and be a solution.
ii. Write a copy that sells
You will need a great sales copy for whatever products or services that you’re offering. Remember to highlight the value of your product and the benefits to be reaped by all those who patronize you. You want to be 80% value-oriented and 20% profit oriented in tone you adopt.
iii. Build a simple website
Next, create your website and ensure that it is easy to use and very responsive. Take design, functionality, UI and UX into consideration. Ensure that you make your website mobile friendly as a lot of users access the web from smartphones, iPads and tablets.
iv. Use effective marketing tactics
Ensure that your website is Search engine optimized (SEO), use marketing tactics such as PPC ads, social media marketing and other strategies to ensure that you carry out adequate promotion using effective channels. Use email marketing and subscriptions to ensure that you keep relevant contact with your customers and make offerings to receive emails from prospects as lead magnet and generation.
v. Scale your business
Increase your income with expansion, back-end sales, upselling and other sales tactics. As soon as you begin to make enough cash, begin to scale your business and grow your revenue exponentially.
How an online business changes your personal life
Starting an online business can bring many changes to your life. From financial freedom and personal satisfaction, here are some of the ways you can experience the benefits of starting your online business and changing your personal life:
- New excitement in a new enterprise
- Friends and family will get more of you
- Financial satisfaction
- Opportunity to work and still travel all the places you ever wanted to visit
- Genuine happiness as an entrepreneur
- Learning and growth as you read and improve in your areas of interest.