When you are running an online business, you are free to work from anywhere and everywhere at your own sweet pace and without burning your pockets.
Here are 10 steps to consider while starting an online business in 2019
#1. Find Market’s Needs before Designing a Product
As it turns out, aspiring entrepreneurs come up with a product first even before figuring out what the market actually needs. This is a successful recipe for failing startups, say experts. To make sure that your start-up is on the right track from day one, you need to narrow down the target audiences’ need, first and foremost, and then design a product that solves their problem.
For this, you can use the internet:
- Check out online forums to find questions that people commonly ask and the solutions they are looking for
- Find keywords that are adequately searched for but you don’t find an adequate number of sites competing for the same keywords
- Check out competitor sites and figure out their modus operandi. You can now take steps to create a product that’s better than the competition.
#2. Decide on the Business Structure
While setting up your business, you need to know whether you will be running it as a sole proprietorship, limited company, or as a corporation.
If you are a couple – husband and wife – then you are free to work as a sole proprietorship. This is the simplest business model. And the best part is you don’t have to carry out any kind of paperwork to set this up. But then, sole proprietors have to face the risk of business debts and obligations, unlike limited liability companies or corporations.
If you are intending to run a limited company or corporation, businesses are not personally liable for debts or obligations.
#3. Get a Domain Name
Once you decide on the name of your business, register a domain name for the same. The domain name will be your online address for your business. You can check for duplicates by typing the name in the Internet browser and by checking if any existing website appears.
Several companies offer domain name registration. You simply have to set up an account, choose the name you want to and pay an annual fee.
#4. Set up your Website
Once you have found out your target audience and product and even have registered your domain name, the next step you need to consider is to set up your small-business website. Keep your website design as simple as possible. You’ve got just 5 minutes to grab visitors’ attention. So, make the most of it.
Some important tips to keep in mind while designing your website:
- Select one or two plain fonts. Check how they look on a white background.
- Keep your navigation clear and simple.
- Keep just two clicks between potential customer and checkout.
- Keep it buyer-friendly
- Use graphics, audio or video to offer a better explanation
#5. Write a Sales-worthy Copy
Believe it or not, but the fact is, there’s a magic sales copy formula that drives the visitor, from the moment they land our home page to the moment they check out:
The magic sales-copy formula includes the following:
- Compelling Headline
- Description that revolves around the problem your product solves
- Build credibility as the best solution provider
- Add Testimonials
- Product benefits
- Strong CTA buttons
- Launch offers
The copy should harp on your product’s strength and its uniqueness. It would also help to think from customers’ standpoint and ask, “What’s in it for me?”
#6. Leverage SEO to Drive Targeted Traffic
Try pay-per-click advertising to attract traffic to your brand new site. It has two advantages over attracting traffic, organically. One, PPC ads show up on search pages immediately. Two, you can test different keywords, headlines, and sales approaches. In addition to attracting traffic, you can even use to figure out your high-converting keywords for your website copy.
#7. Publicize your Business
Yes, now you have a website, got your SEO tactics in place to drive both organic and inorganic traffic. Now, the next step involves promoting your business. No, it does not always require big budgets to promote your business. You can even use social media and network to build a reputation. You can even try building a blog, write guest posts, and rope in people to review your product and so on.
Once you know your target audience and have got your website domain name registered, have set up your website and written content for the same, and more importantly, mapped out your promotional plans, you can be rest assured, half of your headaches are over. Next, you need to actively work out your funding plans, business plans, partner plans and so on.
Can you think of any more points to add to this list?
Author bio: This is Jennifer Warren, a Content Consultant with GoodFirms, a review and research platform for eCommerce development companies, digital marketing companies among many others. I enjoy humanizing technology through inspirational content, devouring best sellers, watching war movies, and running behind my sunshine sons.