I am by no means an expert on starting your own online business, I actually don’t even have one (yet), but I’ve gathered a list of helpful tips that can get you (and me) on the road to a successful online business!
First step: Brainstorm
Before you can create an online business of any sort, you need to have a service, whether it’s creating your own handmade business, photography sessions, or design company. If you’re like me, you might have about a thousand different interest and hobbies, but could any of them excel in the online business world? Pick something that you’re equally talented, passionate, and patient with. Once you stick to one idea, you can begin your research.
Second step: Research
Yeah, yeah, yeah, you’re sick of research, but this is unlike academic research! I promise, there exists a world where research is fun. Before you delve into the online business world, do your homework. Find out what the market looks like for your particular service such as how much other business owners charge for the same service and scope out the competition. Be realistic when coming up with your prices. Stay competitive, but think like a consumer. Research can also help you pick a target audience (who you want to market to) and help with your branding.
Third step: Branding
Branding is a fancy term for creating an image for your business. Think the arches for McDonald’s or the green mermaid for Starbucks. You’ll need a logo or look for websites, advertisements, business cards, etc. Creating a brand also includes creating a name that represents you and your service. You definitely want something that makes a statement and that is innovative. Something as simple as using your own name can make you stand out from the rest.
Branding also includes the presentation of the business. Image is everything in the online world and whatever you’re producing needs to be eye catching and professional. For example, if you’re selling handmade items, you need good photos to represent your products. Either find a friend with a fancy camera, or look up a few tutorials about how to use your camera. You want your items/services to be represented to their full extent.
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Fourth step: Networking
Have you ever heard the phrase, “It’s not what you know, it’s who you know”? Well, it’s true. Networking in the online business world is basically the foundation of all success. Working and collaborating with other online business owners can give you the exposure and marketing your business needs without hurting your wallet. One of the best ways to network is through social media. Opening up accounts through Twitter, Facebook, and blogging, just to name a few, can help you network more effectively and efficiently. Don’t be afraid to reach out to other people through online communities and make connections. Advertising through other blogger sites or promoting your products through giveaways are just a few examples of the benefits of networking through blogs.
These are just the first few steps to take to create a foundation if you are considering opening up an online business. Taking on an online business is not all peaches and cream so don’t be let down by rejection and a little bit of failure. There are tons of e-books available online to help you get on the road to an online business. Google will become your next best friend (unless it already is). Another thing, don’t be afraid! If you are passionate enough about your business, it’ll show, so don’t ever compare yourself to other businesses.
Photo source: http://mickeyhastings.com/Home/socializing-profit/social-media-logos/