Top Tips Before Starting an Online Business
The richest man in the world is Jeff Bezos whose net worth is estimated to be upwards of $150 billion. In case you didn’t know, Bezos did not start building his Amazon empire in Silicon Valley, but rather in his basement! Wouldn’t it be great if you could build a successful online business as well? Online businesses are certainly the way forward.
It can be really overwhelming to think about all of the steps to take to set up an online business, however, don't let that stop you if you have the desire to get started. It's not easy, but it's important to hold true to your vision and inner calling of building a successful online business. These tips are perfect for beginners who are looking to start an online business from home or a side business.
Here are the top tips to think about to get started:
1. What are you planning to sell, products or services or both?
You will want to think about a product or service that fills a need. All businesses exist to solve a problem. The options to get started may include:
- Affiliate Marketing: selling other people's products
- Coaching and consulting
- Freelancing: selling your services such as on Fiverr or Upwork
- Information products: you can create your own online courses, templates, worksheets.
2. Identify your target market
It's important that you have crystal clear clarity on who you will serve. The reason you want to do this is because you want to attract people who want and need what you offer.
Really narrow it down and describe their qualities, for example:
- Gender
- Age
- Hobbies and interests
- Problems: what's keeping them up at night?
- Aspirations.
3. Choose a business name and structure
Chooose a name for your business that is memorable and you'll need to check that the domain name is available too.
You'll also need to understand the business structure in your country to ensure you follow any specific registration requirements. It's good to cover your other legal bases such as tax obligations, licenses and permits, and have a system for your accounting.
4. Set up payment methods
You'll want to make sure that you can collect the cash when you make sales. The easiest ways to do this online are via PayPal or Stripe.
5. Website / online presence
It's not critical that you create a website at the beginning, this is a step you can do later. You can simply start with a Facebook business page. Learn how to do that by clicking here.
6. Email communication
You will want to be in regular contact with your clients and provide them with value (great content) and make offers to them. You will need a business email account and I recommend getting a free Groove account so you have access to GrooveMail and all the other great features with Groove that you can utilise later on once you've got started. Click here for more information about GrooveFunnels.
Building your email list is an important marketing strategy to have a successful online business and it's recommended that you create a free gift (aka lead magnet) that people can easily consume, e.g. quiz, short ebook, and in exchange for your free gift, they sign up to your list. Your email list will be one of your most valuable business assets so you will want to focus on building this early on and nurturing your clients.
7. Marketing your business
Marketing is essential for a successful online business and needs to be your focus when you are starting your online business.
It is a tough market out there so you must be well equipped before jumping into the arena.
A Google search for “how to successfully start an online business” will procure 799,000,000 results. Of course, Google’s algorithm picked up tens of millions of websites that are not relevant, but it is safe to say that at least the first couple of pages are pertinent to the question at hand. Now, do you want to try navigating through 50 websites in search of genuinely helpful information?
There is a popular misconception that Google's top search results are the most trustworthy. This could not be farther than the truth; as competing businesses only grab the top spots based on high volumes of traffic, acute search engine optimization methods, and successful marketing strategies. Especially for the inexperienced seeking to keep up with the competition, it can be extremely dangerous to assume that popularity equates to the truth.
If you are unable to differentiate between what information is legitimate and what is misleading, then you are setting yourself up for failure right from the beginning. Therefore, it is important to find a legitimate trainer who will provide you with real proven strategies to help successfully guide you through the process of running an online business.
Finding the right prospect is not an easy task as there are often many “get rich fast” scams out there, so you will need to do your homework. Luckily for you, we did your homework for you!
Click here to join our Top Marketers Online Summit- 100% Free!
Summary of the top tips before starting an online business
1. Choose your products and / or services
2. Identify who you are selling to with your target market
3. Choose a business name and structure and ensure you are across your legal obligations
4. Set up payment methods
5. Website and online presence
6. Email communication
7. Marketing your business.
Marketing can be one of the most challenging parts of running an online business so take the guesswork out, make it easy for you and click here to join our Top Marketers Online Summit- 100% Free!
Start where you are. Use what you have. Do what you can. Arthur Ashe
Here's to living your best life!
Melissa Taylor
Future Transcendence Leadership Mentor
