Starting an online business is definitely not easy. There are a lot of crucial decisions to make. For instance, what should you sell? Who should you sell it to? And, finally, how will you get customers?
As if that isn’t enough, a new business trend pops up online every other week. There are cryptocurrencies, Instagram influencers, chatbots, Facebook ads, and much more. Hence, it might be challenging to figure out what you should pay attention to and what really matters.
If you are looking to start an online business in 2021, we have got you covered. This quick and simple article will guide you through the entire process, step-by-step. Consider this a starting point, as we cover each step in simple, actionable language.
- Choose a Profitable Niche
Finding the right niche is a hard enough task on its own. You have to ensure your business is operating in a profitable sector. Additionally, for your business to be successful, your customers should be able to afford what you offer. So, before you begin, research the profitability of a topic by seeing who serves that audience and how they are doing.
For instance, top sportsbooks sites are usually profitable. However, it will require that you put in a certain amount of effort and research.
Online entrepreneurship is typically a harmonious community. Most entrepreneurs will likely answer at least a few of your questions. In case you don’t find the answers to your questions, Google can help you out. Additionally, ensure the earning is present before trying to generate revenue from that niche and target audience.
- Build a Strong Foundation
Your online foundation will mainly comprise your website, email list, and social media following. While there are several micro-aspects of an online business, these form the core. Your website should be clean and straightforward, and it should contain a short window to capture someone’s attention. If your website is cluttered and confusing, people will surely click off.
As a rule of thumb, have the fewest pages possible. Essentially, your website should contain an “About” page that is personal and connects the reader to your message and you as the business owner. While social media has billions of users, its organic reach is next to nothing. You need to pay to reach your audience.
Email marketing happens to be the best way to convert a lead to a customer. Start by building your email list. You can do this by offering small digital freebies to attract people to sign up. Create a presence on all social media platforms and never get caught up in the hype behind social media marketing. Instead, use it as a part of your overall strategy.
- Build an Engaged Audience
If you rarely pay attention to your website and social media presence, you won’t be able to draw people in and convert them into customers. Essentially, you should aim to build a raving base of fans and followers that will tell everyone about you and your business.
To create engagement, deliver actionable content that your target audience will value. Never buy fans or followers. Instead, focus on connecting with a group of users who engage. We have all witnessed entrepreneurs with 30,000 followers on Twitter but just a single retweet whenever they post.
- Create Premium Offerings
When you start a business, you should have things to sell, which is the same for an online business. One of the best things about opening an online business is that all your products and services are digital. So, you can create anything from guides to books and courses.
These can also be offered one time, and the job is done—you can then update your offerings from time to time. Consider creating various types of programs and courses to help your audience and use your email list to sell them. Ensure your emails are actionable and packed full of valuable content.
- Test and Scale
One of the best ways to know what works best for your business is to test what is working and what is not. If you find your strategy isn’t effective
, be ready to change it. Never blindly follow popular advice just because someone else got a specific result in their business—chances are it won’t work the same for you. Once you find the right combination, scale your business.
Life is too short to be spent creating an online business that doesn’t give you the kind of lifestyle you want to live. Leverage the Internet and social media to build and grow a business that will give you freedom and the ability to generate income from your knowledge through digital offerings.