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How to Start an Online Business

By January 25, 2021February 17th, 2021No Comments

“Business opportunities are like buses, there’s always another one coming,” and that’s exactly why we at Jerome Basilio want you to take all those opportunities that are coming and going, make the best out of them, and succeed as business owners. A business idea is never enough: you have to do everything possible to realize your business idea into reality, and be proud of what you created! Just remember, an online business is far from brick and mortar store, so rules and techniques are different here! Want to know more? Let’s go!

Plan for Starting an Online Business

There are some steps that you need to accomplish in order to start your online business, and we will show you all of them.

Products to Sell, Market to Reach!

What you first need is a product. Once you know which products you want to sell, where you want to sell them, and to whom you’ll offer your products, you’ll accomplish your first step. You need to conduct market research, find the target audience, estimate your future revenue, and so forth. Sell products that solve a basic, everyday, or even a very unique problem. Customers mostly buy products because they need them in their life.

What You Should Know about Online Businesses

Remember, creating an online business has never been more difficult because practically everyone wants to have one. That’s why you need to take into account the harsh competition, already existing products, and everything in between. And don’t forget the millions of third party sellers on every platform!

Market Viability Matters Too!

Solving a problem is of course important; but what is more important is to produce profit. Can your business do that with the help of your product? Can you boost your small business if you offer your product to the market? Evaluate your market viability, and only then continue with the next step. If you need help with evaluating market viability, finding products, targeting audience, or conducting online market research, contact our service and our specialists will lend you their hand to use! Your business ideas (even the wildest ones) can come true if you do everything right, just like any other goal!

Don’t Ignore Competition!

Competitors are everywhere, even when you think there aren’t any. This is the reason behind why you need to know your competitors and their advantages before you actually start your new business. Use our resources, do a so-called competitive research, find the competitors you’ll eventually face; observe their website, customer service, their position in the market, what people think of them, and what they value the most, how they price their products, and what they consider while pricing; how they handle the shipping process, and if they have their own accounts on social media, how they operate them, and what they especially highlight…

You should not build on the success of others, but you can build on the idea of how you can get better results using different methods.

Online Platforms Needed!

Choose your online, e commerce platform! Whenever we talk about an online business, we shouldn’t forget about e-commerce websites and platforms where millions of sellers produce profit every single day. For this, you can visit the most popular websites, present your questions to the support, compare their costs and fees, observe their design and what they can offer to you, and only then make a decision. You never know which new idea can pop up and lead you to create the next big online store!

You can even build your website, own website! If you need more information, just contact us at Jerome Basilio, and we will help! Starting a business can be pretty easy if you have the right partners! Keep in mind that the biggest online stores were not build big. Sites like Amazon were at one point just startups by people who simply thought: why not build an online business? Over time, they became big. May want to think about that!

Product Sourcing Options

Source your products for selling them online on your own or another website! You can of course source your products from yourself, creating them on your own and selling them through online websites. What’s more, you can hire a dropshipper and source your products with their help. Dropshipping entails sourcing products from a vendor and having them listed online. If you go for this method, you’ll forget about inventory management, packaging, and fulfillment processes. Apart from the above mentioned, you can work directly with the brand or manufacturer, or wholesaler. What’s interesting about this method, is that you work with a partner, but still have control over your own online store and all those products that you list. Just keep in mind that dropshipping can not always work on all ecommerce platforms, so make sure you follow the rules all the time!

Drive Traffic to Your Website

Now that you have products, partners and online platforms, you should boost up your business by driving traffic to it. A well-planned digital marketing strategy will help you with that!

Drive Traffic Through Social Media

There’s one thing that you should immediately do – establish your online presence on social media! Don’t forget about a very important detail – your audience matters. For example, if you’re targeting millennials and Gen Z, you’ll probably need Instagram, Pinterest or even Snapchat. To be on top of the food chain, have the most visited website and the most successful online business, you need not only a social media account but also interesting and engaging content! If you build a community of satisfied and loyal customers, you will be able to promote your website, your online businesses, and your product or service.

Marketing Through Email?

Even though social media is prevailing, there are still other methods to drive traffic. For example, what do you know about email marketing? With the help of this technique, you’ll be able to inform your customers about your new product or service, your bestsellers, and so forth. If you want to activate this method, you’ll need a good web design, and a special box appearing on your website once customers visit it. This way, your customers will be able to fill in their information (including email address) to get your electronic newsletter and keep their fingers on the pulse! Create an interesting and catchy newsletter; without it, one of the best marketing strategies simply won’t work! People don’t have time to read your emails; make sure they’re short, catchy and informative! You wanted to start a business, now you have to boost it! Make sure user experience is always held up to the highest standards!

SEO

Small businesses, together with the large ones, need traffic, and that’s normal! All you need to do is work on your visibility and searchability on search engines, and you’ll sooner or later have your online traffic. Most sellers prefer platforms like Google since the overwhelming amount of search engine market share belongs to this very platform. However, you can also invest in other engines, because there are also those who don’t use Google, remember!

To do so, you need to have a good and memorable domain name, use the right keywords for your content, analyze your search engine optimization on Google Analytics, learn pay per click and campaign performance.

Starting an Online Business with Zero Budget

There’s no such thing as zero budget, but there are certain types of businesses that you can start with little money. For example, dropshipping

Dropshipping

All you have to do is work with a vendor and list the products online. This way, you won’t need to manage your inventory and handle all those expensive processes like shipping and delivery. However, if business owners want to have a successful career, they need to spend their money on marketing and promoting their business!

There are many other ways to start an online business with zero or let’s say low budget, and if you need to know more, just contact us at Jerome Basilio.

Do I Need an LLC to Sell Online?

Many of our clients ask us about business entities. What a business entity is, and whether it’s necessary to have one or not. In general, sellers prefer having an already created business entity, such as an LLC, and we at Jerome Basilio recommend it as well. Forming an LLC (Limited Liability Company) is necessary especially for those who want to avoid losing their personal assets, who start a business with multiple partners, and who want to succeed.

If you want to start your own business, or already have one and want to turn it into a real business entity, just contact us and we will help you with it. We have reliable partners that are specialized in this field, who will educate you, and provide all the necessary documentation to form a business.

Conclusion

Now that you know how to start a business, find potential customers, attract more people, you can get started with your business online!

Investment Opportunities

Wealthy people invest first and spend what’s left, and only then make the best out of their investments. If you want to experience that happy moment when the money you invested comes back right to you, you can invest in one of our businesses. For more information about our investment opportunities, contact us!

 

Guest Writer

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