Starting your online business must have been one great thing on your mind to do this year but you are more specific about it being online rather than offline like our everyday businesses. You are definitely not alone on this, as others are also thinking of having their own online business this year.
There will be so many questions flashing through your mind right now that how do you go about starting your own online business, you haven’t been into this sector before but would like to take your business online as other businesses you see around you. Worry less, in this write up contains steps by steps process you need to take to get closer to your dream of having a successful business online.
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5 Basic Steps To Start Your Online Business
You don’t have to break the bank because you want to get your online business started, most people are scared of starting a business online because of high start-up capital Contrary to what people thinks, if you know exactly what you want, you’d save your money and start your online business with ease with the steps below:
1. CHOOSE A BUSINESS NICHE
Starting an online business is not just about social media buying and selling, you need to sit down and find a niche. choosing one particular product or service to offer for example boutique online, you know that what you are offering is clothing’s, so it will be easier for people to know the particular services you offer.
It is always better to focused and be known for one line of business than trying to be a jack of all trade, cause you will end up being master of none in particular.
Therefore, before anything else, you main focus should be on your niche. What particular thing do you want people to know you for. Do a lot of research about that particular niche you are interested in. Also, make sure you have a comparative advantage over your competitors in that particular niche, in the sense that you offer valuable and unique services.
2. GET YOUR BUSINESS REGISTERED
There are many ways this can be done, you can get your business registered both online and offline. website, google my business, and social media are what you need to get your business registered online. All you need to do is to get a good hosting and domain name for your business online. By having your website on Google you are building credibility with your customers as some will surely search for your business online.
Mostly it compulsory to get your business registered offline in other for business and brand recognition. This vary on the type of business you are offering though. If your business need an office for physical transaction; Then, get it registered with the corporate organization in Nigeria or by Agencies who are in charge of such duties in your country. It advisable if you are going for both registration that is both online and offline. getting your business registered offline should come first before going online.
3. USE SOCIAL MEDIA
Social media as you have known is where most of your customers or client might be since all you offer is online. You must do all you can to get your business in their face. Yes, their face. No business can succeed in obscurity, therefore go social and viral.
You need to have social media handle for your business or brand, and keep the name the same across all. It improves your credibility and gives people the impression that you are legit and that gives a go ahead to do business with you.
On getting your social media account set up, do well to make sure your social platform have huge uses engagement. It no much use getting millions of followers without getting any engagement or feedback’s. Get more subscribers and followers to increase your engagement. Your customers will build more trust in you and that is good for business.
4. NETWORK AND PARTNER WITH OTHER PEOPLE
As the saying goes, no man is truly an island. You need to attend events organised both in your niche and outside your niche to see latest innovations in the business world.
Attend business events, go to business workshops and build your network system. Add value to people you meet and have a good conversation with them and this might just be the connection to your bigger deal or client.Partnership isn’t bad idea also, do well to partner with people both in and outside your niche, partner with influential people also and tap from their audience.
You can send message to people in your niche and ask for partnership on a particular promo you feel can’t be done alone. You’d be surprised by how effective you campaign will be and how much leads you’ve generated from such partnership.
5. KNOW YOUR BUSINESS STRATEGY
At this point you should be able to know what works better and what do not work for you. You should know what brings in sales or what convert your leads into buying your goods or service as the case may be. Then you have experienced and know how things works at this point.
An extra step worth mentioning is getting a good payment system for your business, you don’t want to be scammed or left begging for your money after rendering your service. Since you won’t be collecting physical cash, make sure your payment system in on point. Collect those systems especially if you will be receiving payment from abroad. You will need foreign account payment systems like payoneer or PayPal.
This list is just limited to only 5 tips but do take your time to do more research on how to start your online business. Do so to get more tips on how to start any business both online or offline. Go over the steps listed above and take decisive steps to starting your own online business in 2020.
Starting a business can be a herculean task especially the one online, where almost everybody are flooding to everyday. The competition is getting more intense and interesting, hence why you need to stay abreast with latest development in the online world to keep your business updated and afloat or you get kicked out by some new company or business.