Starting a successful online business! This is the dream many of us have, but few know how to achieve it?
Online business has come a long way in the last few years. No wonder over 5 billion dollars was made in 2018 just in the online business industry.
If we dig into online shopping history, we will find that it happened way back in 1979, when Micheal Aldrich used a two-way message for the first time. Then, 1995 marked the year Amazon started selling books. Then, in 1998 when Peter Thiel and Elon Musk founded Paypal, online shopping started to snowball.
All these facts support the idea of an online business, and there is a massive list of online businesses we see popping up all the time.
Here are just a few that top the list of online businesses.
- Blogging
- Affiliate marketing
- Graphic design
- App building
- Forex and Stock Trading
- E-commerce
- Social Media Agency
- Freelancing
- Web designing
- Content creation
- Proofreading
- Online education
- Vlogging
- Podcasting
- Amazon FBA business
Why Does it Work for Everyone?
With all these choices available, anyone can get into an online business at a very minimal cost. You can start an online business as a side hustle. You can start off running an online business alongside a 9-5 job.
Here are a few advantages of having an online business
- There is freedom in choosing your working hours, and being your boss can be very beneficial if you like to work without being under pressure.
- An online business is mostly a very low-cost start-up, and that can save you from a riskier financial commitment if things don't work out ideally.
- It can be an excellent option if you have an introverted personality or issues with socialization.
- An online business can bring you a separate stream of income that can help you be financially stable.
- Most of the time, you can work from anywhere as long as you have your laptop and an internet connection.
All in all, an online business can be best for anybody who is an expert in a particular industry.
If you can grab the attention of your audience and can find a solution to any problem they are facing, you can have a business.
Find your jam and start working on growing your audience, whether it be a blog, YouTube channel, Vlog, Podcast, Webinar, or just an Instagram account. If you can grab the attention of your audience and can find a solution to any problem they are facing, you can have a business.
First Things First!
I know you all might be wondering what I am talking about?
You might be thinking about how you can start an online business with just an idea?
That's precisely why I am here. But, first, I will tell you what you need to do to start an online business.
I am going through a step-by-step guide where I will be sharing tips on how you can do it.
I am an online business owner myself. Full-time blog, YouTube, and online course creation are just a few things that I do. I would not call myself an expert if you are counting on my years in business, but I would certainly call myself an entrepreneur who did it all from the ground up and turned it into a successful business.
After many ups and downs and immense learning, I know the exact steps you need to see if you want to become a business owner.
7 Steps to Start an Online Business
1. What is the idea? (Business Idea)
2. Web Presence (Set up the site)
3. Lure the audience with an opt-in (Killer opt-in)
4. Get writing (Content creation)
5. Big reveal (Launch)
6. Pick the brains of your audience (What do they want)
7. Add more value (Expand)
1. What is the idea? (Business Idea)
The primary and first step in this process is to have an idea. It can be anything you are good at when compared to ordinary people. Here are a few examples,
- You can be good at finding deals and saving money
- You can be good at creating meals from leftovers
- You can be good at finding minimalist ways to decorate
- You can be good at researching any topic
- You might have a keen eye for graphic design
- You can be great at crafting
The list can go on and on, and if you have mind-boggling ideas, relax and think about the last time your family and friends asked you for advice.
That can be your specialty. You need to be a go-to person for something; most of the time, you are passionate about it too.
Once you know your offer, you must figure out your ideal customer. Take some time to think about who your target audience will be. You must also know if your service or product is good enough to cater to the masses.
That brings me down to the last part of this step. You have to figure out what is your revenue model. I mean, "How will you be making money"?
There are three different ways to make money in an online business.
- Services: Performing services or tasks for people or businesses.
- Coaching: One-to-one coaching or group coaching
- Online Products: Digital products like books, eBooks, videos, tutorials, templates, etc.
- Affiliate Marketing: Paid sponsorships, Affiliate products, etc.
You can pick whichever resonates with you more and prepare for the next step.
2. Web Presence (Set up the site)
Once you are done with the mental framework, you need to have a place where you can lay out your ideas. It is like bringing an image to life on an easel. The web presence will serve as your mark where people can find you.
What it necessarily is "A way for your audience to connect with you."
Your website is where they can look at your services and expertise, and it will serve as an anchor to keep your target audience coming back.
Here is a 4-step process that needs to be done to move forward to the next step.
- Web-Hosting: I have been with Bluehost since the beginning and have nothing but good things to say about them. Even if you are not technical at all, you will be able to do with this step-by-step tutorial. The integration of Bluehost with WordPress makes everything so much easier.
- Domain Name: Elegant themes is where I have been able to personalize my website. They have free and paid versions; you can choose depending on your budget. Setting up will not take you more than a couple of hours.
- Email marketing tool: One of the online businesses' most significant facts is related to email marketing. I truly believe in "The money is in your list," and you need an email marketing tool to earn that money. I have tried others, and I am not kidding when I tell you that ConvertKit is the best. This post will teach you how to set it up flawlessly.
These posts will help you complete a website's setup, and you will be ready for email marketing.
This is where you are done setting up your web presence and are ready for the next step.
3. Lure the Audience with an Opt-in (Killer opt-in)
Yes! You read it right. I am talking about luring the audience with something they cannot resist.
Have you ever wondered why a newly opened ice cream store gives free samples?
They aim to stay in those people's minds as a reminder of something nice they got without doing anything.
Your opt-in will do precisely the same for your readers. A gift or an incentive offer will bring them back to your blog/service, and they will most likely become your regular customers.
Here are a few examples of opt-ins, and you need to have at least one when starting an online business.
- Video tutorial
- Audio lesson
- Templates
- eBook
- Mini-course
- Printables
4. Get Writing (Content creation)
By this point, you might have gotten the gist of the whole process. You have a platform where you can express yourself. You know who your ideal audience is. You have something to get them interested (in the form of some free product/service).
What's next?
They are at your door. Now you have to inspire them. Give them value-packed content, so they stay and feel more interested.
You can only do this if you have high-quality content to satisfy their needs.
It does not have to be a lot. For example, as a new blogger, you only need a few good articles to keep your reader engaged.
For different mediums, the content will be unique. For example, you will be recording YouTube videos, podcast audio, etc.
Creating content is quite a process, and here is the breakdown,
- Narrowing down the content ideas
- Finalizing the titles (keeping SEO in mind)
- Setting the schedule to keep things moving at the right pace
- Make sure that you are producing quality content
Here is a detailed post that can help you how to publish a blog post easily and quickly.
5. Big Reveal (Launch)
If you have completed all the above steps, it is time for you to jump out and present it in front of the world.
Let me assure you that there is no such thing as perfect, especially in the online world. There will always be something whose website looks prettier than you.
There will always be something you would not be 100% confident about.
There will always be something that you will need to make better.
But hear me out! It should not stop you from launching your business/blog.
This type of work needs constant curating and improvement, and you will be doing it all the time, but you need to remember that you need to get it out there.
6. Pick the Brains of Your Audience
You might be thinking, what's next.
Your job is not done here, my friend. There are a couple of steps left to take your content/ blog to a level of business.
Now that you have a platform, are producing quality content, and are driving a decent audience to your business, what do you need to do next?
You need to keep in touch with your readers and interact with them regularly.
Making a business successful requires paying attention to what your customers say.
It can quickly be done via your social media handles. These interactions will help you decide which direction your services/content needs.
Making a business successful requires paying attention to what your customers say.
Keep providing them fresh, quality content and keep them hooked to your blog/business.
If you are doing it as a true entrepreneur, you will know exactly which direction to take and what things to avoid.
I started my YouTube channel because my readers wanted to see who was the person behind the blog and the money advice. You are welcome to check it out here.
In my case, I went from a blog to a YouTube channel and eventually to my digital product because I knew that people wanted to see the face behind all the content. Also, I tried to solve one of the biggest problems for new bloggers and business owners through my training.
7. Add More Value (Expand)
Like all successful businesses, you must keep adding more value to the already excellent product/service you provide to your audience.
You don't want to become stale; it can only be done if you look at the industry's new trends and keep up with them.
Here are a few ideas on how bloggers expand their businesses beyond producing content.
- Training people through videos
- Coaching people
- Doing webinars
- Speaking at events
- Endorsing other products
By opting for any of these, you are creating an extension of your already-running business, and it might take some trial and error to figure out what combination is the best, finally.
Ready, set, go!
That's it, my friends, I know it was long, but I wanted to make it as easy as possible for you to understand every step.
Setting up an online business is not a one-sitting website setup.
It is a gradual process requiring several parts to get this machine working.
Like any other business, it requires constant monitoring, improvement, and patience. However, if you hone down the right strategy, it tends to become a steady income stream in a year or so.
If you are up for it, there is no better time. So let's do it together and change our outlook together.
