03 Apr Get started with your online business
9 Steps to Start an Online Business
The following guide breaks down the process of starting a small online business into manageable chunks, and if you want further information about the best ways to make money online, this website describes it perfectly.
We will discuss all of the following points throughout every chapter in this guide; at its conclusion, you’ll know how to start and run your own ecommerce store.
Here is an overview of the 9 steps for building and growing your successful online business:
1. Find a niche.
Before you start selling, you need to find the right product with the potential for serious profitability. You’ll learn how to research different niches and even examine your own life to find problems that can be solved.
2. Evaluate market viability.
Now that you have a business idea, it’s time to dig deeper into product viability. Think about the kind of details that can make or break your business, like number of SKUs and shipping weight.
3. Conduct market research.
Validate your product using tactics such as keyword research and evaluating trending products.
4. Conduct competitive analysis.
find out what’s working — and what can be improved upon — from your biggest competitors. This will tell you more about how to define your branding and positioning in the market.
5. Learn online business laws.
Shipping restrictions, zoning laws, and trademark considerations. These can all make or break your business. With this list, you can avoid the ecommerce landmines that derail your business before it gets off the ground.
6. Analyze your target market.
This is where you dig even deeper to understand your ideal shopper. Who are they? What do they like? How can you tailor both your product and your website experience to appeal to your perfect shopper?
7. Source your product.
You know you have the right product, who your customer is, and how to set up your business. It’s time to get the physical product. We’ll walk you through different ways to source your product and how to avoid common pitfalls.
8. Build your store.
None of the above matters if you don’t have an ecommerce store that sells your product, provides an intuitive shopping experience, and makes customers want to return. We’ll show you how to go from zero to beautiful online store in a matter of minutes using powerful ecommerce software (spoiler alert – we have a recommendation).
9. Become productive.
The difference between operational and successful is in mastering man’s greatest nemesis — time. Get firsthand accounts from successful entrepreneurs who have grown their home based business into online behemoths.