6 Essential Steps to Starting Your Online Business

6-Essential-Steps-to-Starting-Your-Online-Business

Being an entrepreneur is a fad these days. This is evident by the increase of technology start-ups worldwide. Running a business requires having a bigger vision in mind and that entrepreneurship is all about adding value. Every potential entrepreneur needs to realise it is a daunting task and to succeed with a business idea, it has to be useful.

In Britain, an average person spends an average of 22 hours, 15 minutes a month on the web. Going by these, the web is the perfect place to start your business. In fact, online business grow up to eight time faster than those not online. The future now seems to lie in digital businesses and to get started, all you need is a good/GREAT idea.

This post highlights 6 essential tips for web success:

1. Buy a Great Name:

Having a great name is important. A business name is crucial for any new company because being a digital venture, the name is all you have to get recognition. Once you have a killer name, protect it by securing all the misspellings or possible formations of that name online.

TIP: Avoid name that direct traffic users might find difficult to type. Avoid  using – or hypen such as www.asoto-adeola.com. Its advisable to purchase other domain extension such as .net, .org, .co.uk, etc

2.  Financing/Mentoring:

CASH IS KING ! Once you’ve got your name, you need money to launch a business: Personal Finance (Save up your 9-5 Pay ), Family & Friends, Venture Capitalist, Investors, Government schemes etc. are ways to source for funds.  It is important to have money and resources available to enable it grow successfully. Make sure you have enough money (this rule might not apply at all times), not only to start your business off but to cover the first few months of trading. Finding suitable investors that do bring along their wealth of experience as mentoring also is key.

3. Invest in Good PR:

When your business is up and running, you’ll need to get people talking about it.  That’s where PR comes in. Online PR gives the most bang for your buck so if you are going to splash, hire a good company. If you are or on a budget and cant afford PR, send out your products and services to influential bloggers for FREE, email journalists directly, stage PR stunts and cultivate press relationships.

4. Drive Traffic:

Customers are lifeblood of your online business you need to get them to your site. Google’s advice ? Think about search or paid advertising (Yes, google has 80% of search engine presence). Invest in keywords that relates to your business. It can really help boost your site’s visibility. I recommend Google Adwords or Facebook Ads. You only pay when a customer clicks on your ad.

Also, make use of classified/business listing sites as as being listed is a great way to drive traffic.

5. Master Marketing:

There are three kinds of marketing, start with market research (If your moving from offline to online business, analyse your client before launching an online store). Then move into direct advertising, using that market research to tailor offers for your customers. Lastly make sure you market offline too, putting your web address on your email footers, business cards, signages – everywhere you can.

6. Record Your own Success:

And finally, Try to do video launches, workshops or consumer events so that you have an interactive record of your progress to show to potential investors later on. Pinpoint the goodnews each week and broadcast through all your channels, social media, your network, investors. It’s a great way to impress potential investors and get people excited.

NOTE: Customer service is also important when you have an online business, as it’s the only real contact you ever have with your clientele. Every delivery, every order, is a chance to communicate with your customers so use it to do something memorable. interactive surveys, offers, voucher cards; the more more you know about your customer base, the more reactive you can be.

You don’t need to be tech savvy to launch an online business – you can pay someone to build something – but it does help to know the basic.

Are you planning on starting an online business ?

Did you like this? Share it:

Add a comment

First Name*

Last Name*

Email Address*

Phone Number*

Website URL*

Service Required*

Monthly Budget*

Message*