How To Start A Business Online || A simple guide on how to start a successful business online.

 

 More than 4 billion people worldwide use the internet daily to communicate with loved ones, get entertained, purchase items, etc. If you start a business online, it allows you to meet a wider range of potential customers online no matter your location and this brings about business growth. Starting a business online is profitable, in this article you will learn how to start a business online today.

Even if you’re operating an offline business, it is important to have an online presence because more people are mostly online these days which means more of your customers are online.

How to start a business online

Choose a niche and the type of business you want to start

Before you start a business, you should decide on the niche you want to focus on (either fashion, electronics, housing, selling services, etc.) because if you don’t make that decision early you may end up confusing yourself and your audience.

Make research about the business you intend to start; this is the part most business owners skip because they feel it’s not necessary and that’s why they end up failing when they eventually start.

Making research about the business you want to start is important, go to pages or sites that sell the same service or product and see what the business is all about, study their unique selling point, their marketing strategy, and the challenges they face, their management, their reviews and also how well their customers respond to their product or services, doing all of this will help you figure out areas where they are not doing well, correct that in your own business and use it as a unique selling point for your brand. It will also help you realize if running the business is something you’re capable of doing.

Also, ask questions from people that are into the business. You can pay for consultation services to ask for advice, on the pros and cons of the business, and the possible ways to combat challenges that you may likely face in the business.

 You can also use Google to browse more about the business before you fully venture into it.

Your business should at least meet these basic requirements

·    It should be what people are searching for or what people need

·    It must be lucrative

·    It must be solving human problems

·    It must be a product or service people are willing to pay for.

 

 Identify and locate your target audience

When you finally chose a business, the second thing to do is to figure out whom your product or service is made for and where you can easily locate them online.

Your target audience is someone whom your product or service is made for and who will be able to pay for that product or service you offer, but it is not always so.

For example, if you sell female jewelry, your target audience is women because these products are made for them and 90% of them will be able to pay for the jewelry while some may not. Their boyfriends, husbands, or brothers may purchase it for them.

So, if you want to advertise your product, you should invest in marketing to women. They should be your primary focus before marketing to men because you will get more sales marketing to them. Even if they don’t have the money, they may persuade their men to purchase it for them.

Remember I’m not saying you shouldn’t advertise to men, advertise to them but put more energy into marketing to women than men because you will get more sales from women.

The users of a product may not necessarily be your target audience. For example, if you sell baby clothes, the users of these products are babies, right? But they are not able to pay for these products so you should market to their parents rather than babies to generate sales.

The same goes for engagement rings, these products are made for women but are marketed to men because men make use of it to propose to their partners, here men are your target audience but engagement rings are made for women.

It’s very important to identify and locate your target audience, it will help you plan out your marketing strategy appropriately and generate more sales with ease.

Write a business plan

A business plan defines your business, your business goals, your marketing strategy, and so on. A business plan provides specific and organized information about your business, including how you will repay borrowed money, properly allocate resources, handle unforeseen circumstances, make good financial decisions, and other crucial parts of a business. Ensure you write a business plan to keep track of your activities in a business and direct you towards achieving your business goals.

 

Choose a good platform to display your products

Choosing a good platform for your business is important because it determines how much sales you will make at the end of the day. There are several platforms business owners use to market their products, and most of them make use of social media channels such as WhatsApp, Facebook, Instagram, YouTube, Pinterest, etc.

You can also make use of google my business or advertise through blogs, just start with what works for you.

It is advisable to start with one medium before going to other channels to keep you focused and more organized.

Firstly, go to these channels and see how other business owners are operating to give you an idea of how to start and position your own business.

 

Create and maintain a correct positioning

Correct positioning simply means how well you place your brand or business before your target audience.

For people to be able to make business transactions with you, they must have a certain level of trust in your brand, this is because of the rate of online scammers on the internet.

So, you must place your business right to gain your target audience’s trust and likeness. People will only buy from you if they know, like, and trust you (KLT factor) so how do you get people to trust your brand?

Firstly, create a good profile for your brand; define what your brand is all about including the services you offer together with a good and attractive logo and flyer design.

Tell them what they stand to gain from your business and constantly remind them that you are the best plug for them for valid reasons. You can achieve this by studying your competitors to see what they are not good at, correcting it, and making use of it to derive a unique selling point (USP) for your brand.

Include your USP daily in the content you upload, and answer questions that you think may bother them about your product. Doing all of these over again helps you to build the correct positioning. They will begin to engage in your content, buy your products and see you as an expert in your field. Check out my article on the 7 easy ways to increase sales online.

 

Frequently asked questions

How much money do I need to start a business?

The amount of money you need depends on the business you want to start.

You need to do thorough research on what you may need in the business, for example, the equipment, and transportation cost.

 It is advisable to seek advice from people who have experience in the same business. It also depends on how you intend to get your goods, if you want to manufacture them, it will quite expensive because of the production process. So, ensure you have enough resources to pay for your expenses.

On the other hand, if you want to purchase these goods directly from the manufacturers, it will be less expensive, easier, and faster for you to start making a profit without much stress, time, and investment.

So, the amount of money you need to start a business depends on the cost of the business product and how you intend to start, either as a small business or a large business.

What do I need to succeed in a business?

 To succeed in a business, you need to have a business plan. Always analyze your competitors and learn from both their success and their mistakes. Be unique and creative.

Ensure you have an online presence to serve your online customers because most of your potential customers are online, so you have to revolve around technology and give value to your online audience.

Be organized and provide great customer service.

Summary

You can start a business by first deciding the niche you want to be part of, either fashion, clothing, food, health and fitness, transportation and so many more.

It is advisable to start up a business you’re interested in and also ensure that you possess good knowledge of the business. Check out your competitors in that niche and pick out important tips that you can apply in your business including their marketing strategy.

Write out a business plan. Decide if you want to manufacture those goods or if you want to buy from manufacturers.

Choose a good marketing medium to advertise to your target audience.