Starting a business online is every person’s dream. The relief you get when you think of ditching your boring 9-to-5 job and becoming your own boss is precious. However, there are several obstacles that are keeping you from turning your dream in reality. One of the obstacles is the lack of capital to run the business.
You know how to start an ecommerce business online, you just need more time to gather the resources. Yes, I understand you. We have all been there.
You need a plan. Creating a plan is important as it will improve your vision and take you through the important aspects of your ecommerce venture.
Whether you have money or not, the plan will determine the success of your business.
In this article, we will share five detailed steps that every entrepreneur with an online business idea should know.
1. Understand What Your Business Is All About
The first question you need to answer is – What are you interested in? Are you experienced in sales? Marketing? E-commerce? Maybe software development? Most successful entrepreneurs earn a living from what they are passionate about and love to do.
Launching a business that deals with something you aren’t passionate about will lead to failure.
My friend, Sam had over five years’ experience in marketing and three years’ experience in running a business. He just loves anything related to entrepreneurship and marketing. And so, he decided to create an online business for entrepreneurs.
Choosing a Niche
If you know how to start a business online, you know that choosing a niche is an important part of the process.
After figuring out what you want to do, it is time to start thinking about a specific niche. Let’s assume you love teaching people how to attract new clients. You may be thinking that every person in the service providing business wants to attract new clients and therefore you should be targeting everyone who may be interested in your service, for example, coach, lawyer, teacher, etc.
No, this is a huge mistake.
One of the biggest mistakes entrepreneurs make is targeting a broad group of people. Instead, you need to go for a niche market. What is even more important – you should understand the group of people that you will be targeting.
Instead of teaching everyone how to attract new clients, be more specific by teaching male trainers in Los Angeles, how to find and retain more clients.
Now that you have a better idea who your target group is, you can focus on discovering where your group is located and how they can help you grow your business. Start creating content that targets this group of interest. Once your business grows, you can broaden your target group.
3. Finding Products
Any ecommerce business online falls under two categories:
An online service involves providing services or doing jobs for clients. It could be social media marketing, software development services or something else. In my example, it could be offering a specific service to help fitness trainers attract and retain more clients. Remember, online businesses that offer online services succeed because of the persistence of the entrepreneur.
You can think of different digital products such as online memberships, ebooks, online courses, videos, etc. These products are easy to create and don’t require a big investment, except for time.
If you are going to teach other people how to attract new clients, you can write an ebook about attracting clients. If you prefer, you can teach online courses about this subject.
Starting an online course is super easy. All you have to do is record videos and prepare notes. You need a good camera (it doesn’t need to be professional). In fact, you can use your phone camera. Watch YouTube videos on how to prepare and sell your courses.
4. Making Others Aware Your Business Exists
After defining your service and creating your product, it is time to move to another section: marketing.
What is the best way to start ecommerce business and sell online? Marketing, for sure. Your marketing strategies will determine the success of your business. It is important to ensure that every strategy has been well-thought and has proven to work before.
When it comes to marketing, the first thing you need to figure out is which medium will reach your audience. Are you going to use Facebook, YouTube or your website?
Choose a marketing channel your audience loves to visit on a daily basis. Don’t waste time marketing your business on Facebook if your potential customers don’t exist there.
5. Give Your Audience Free Content
After figuring out which channel you will be using to reach your audience, you will need to create free content that your customers can read.
You are surfing the web and you find a book that sparks your interest. When you try to read a short summary, you are given a free ebook. Would you buy the book? Yes, definitely. Now you understand what you are buying and what you expect to see.
People love free stuff and they are curious. If you fail to give them free information, your service is dead.
You don’t need to spend money on creating content. You can use your phone’s camera as long as it is in good working condition or movie software.
Other types of free content include guides, free ebooks, email, workbooks, and infographics.
You have heard that creating websites cost a lot of money. Thanks to advancement in technology, you have several options to choose from. You can create your website for $30 or less using ecommerce website builder.
If you have a digital product you want to sell, look for platforms that don’t charge fees. If you have online courses, you can sell then on Teachable. For your ebook, FetchApp is a great platform.
Understand what works for you and what doesn’t. You can only run a successful business by practicing what you learn. Do what you can to improve your skills and abilities and the rewards will come. I can guarantee you that.