Wednesday, September 9, 2020

How to Start an Online Business Now (Without Investment or With Little Money)


Online Business

The world of commerce has evolved immensely throughout the years. In the past, businesses needed physical places to start. But with the advent of the internet, businesses have transitioned from physical storefronts to the digital sphere.

Customers nowadays find joy in shopping online, especially in stores like Amazon, eBay, Alibaba, Lazada, and Shopee. If you’ve always wanted to be an entrepreneur, starting an online business is definitely the easiest way to get your foot on the door.

If done well, your online business can be a reliable source of income.

How to Start Your Online Business


If you've come to this place after searching on Google on how to start an online business, chances are you have already a good business idea, but just don't know how and where to start.

To help you organize your thoughts, we have set up a simple guide to give you ideas on how to start an online business from home with low investment.

1. Research the Market


The first thing you have to do in order to successfully set up an online business is to research the market. Yes, you've read it right! Whatever business idea you've set your eyes on, it is best to research the market about it.

I don't mean the physical market, but your potential customers. Google is free and you can find almost everything with just a click of your mouse.

Check if the business is profitable and if there is a need to fill. The key to having a successful business is to find a problem that has fewer solutions and start from there.

Say you're planning to sell computer parts and accessories. Check if there is a great demand for the products and if you have fewer competitors.

You can make online surveys directly from your Facebook account. Or you can use Twitter or Facebook groups whichever you deem fit.

2. Analyze the Result of Your Research


After you've done your research, analyze the result, determine your potential customers. Decide your target market, demographic and age group. Once you've determined your target market, you can then create your brand name and tagline.

3. Choose Your Online Business Platform


Once you've decided what type of products or services to sell/offer online, it's time to decide where to host your online business.

Just like a physical store where you display your products, you need an online platform to show your products to your potential customers.

Depending on the type of business you want to set up, you can directly promote your products or services through Facebook and Instagram. Selling on these platforms is easy and totally free. You just need an internet connection and you're good to go. Moreover, you can sell almost anything on these platforms from preloved to brand new stuff.

If you're into freelancing business, you can promote your services on freelancing platforms like Online Jobs PH, Fiverr, goLance, Freelancer, and Upwork.

If you're into eCommerce business, you can sell your products on shopping sites like Lazada, Shopee, and eBay.

But if you aim to create your own brand and have a big income, then, creating an online business website is the best choice. You can create your online store in Shopify and WordPress. You just have to buy your own domain name which is your brand name.

If you have a big budget, you can simply hire someone to create your eCommerce website. If you're on a tight budget, you can actually make it on your own by directly going to Shopify or WordPress website and just follow the instructions.

4. Create a Facebook Page and Group


Facebook is undeniably the number one social media platform nowadays with over 47 million users in the Philippines alone. If you have not brought your business into Facebook, then, you're missing out on a whole lot.

If you're having your own brand, bringing your online business on Facebook page and group will improve your online presence and eventually bring in more customers to your business.

Establish the authority and integrity of your online business by creating a great following on your Facebook page and Facebook group.

5. Employ Good Marketing Strategy


Every business, no matter the size, needs to use a good marketing strategy in order to earn. Your marketing strategy will determine whether you will gain or lose money in your business. If you don't use a sound marketing strategy, then you are bound to fail.

Planning a good strategy is essential even if you're just selling on Instagram or Facebook and without an official website holding your brand name.

6. Consider Paid Advertising


Sure you can promote your products or services organically by employing great SEO techniques and sharing your posts on your social media accounts, but paid advertising can get your brand faster to the right audience.

You can try Google Ads if you want your brand to be on top of the Search Engine Results Pages (SERPs). Or you can go for Facebook Ads if you have a low budget. With just P40, you can already run your Facebook advertisement.

What's more is that with paid advertising, you can tailor your ad based on the results that you want.

7. Launch Your Business


After you've determined your brand name, tagline, platform, and marketing strategies, it's time to officially launch your business and show to the world what you could offer.

If you're only selling on social media platforms, then, you don't really need a formal introduction to your potential customers. But if you're building your own brand and have your own website, it's best to set up a specific launch date for your online business.

Online Business Benefits


Small entrepreneurs will largely benefit from online business. With minimal overhead and low-cost marketing, they can start their online business anytime.

Online business owners don't need to rent buildings or office space and don't have to buy a lot of equipment to store up their products. A computer, mobile phone, and internet connection will suffice.

Furthermore, since they do the business online, they can reach a wider audience and can do the transactions anytime and anywhere.

How Much Do You Need To Start an Online Business


You can actually start your online business now even if you don't have any capital yet. You can consider dropshipping or affiliate marketing. Many online entrepreneurs are actually earning without holding an inventory of their products.

Affiliate marketing allows you to promote products or services on social media platforms and on your blogs. You can simply look for companies with affiliate marketing like Amazon, Shopify, and Clickbank.

Dropshipping also allows you to promote the products beforehand without having to store it with you and ship it directly to your customers once you receive an order. Isn't it amazing?

When to Start a Business


If you've been wondering when is the perfect time to start a business, well, there is really no such time. You will never be ready unless you decide to go through your fear and face the future with hope.

No one has started as an expert. We all were once a beginner of everything. If you do not START NOW, then, nothing changes in your future. We always have to start somewhere. That SOMEWHERE - could be the place where you are right now!

Start small if you're afraid to lose big. You can start by selling your preloved clothing or your beloved plants nurtured at home.

Bottomline


Starting a business, online or not, is no easy feat. It takes courage and determination to be able to bring your brand to the forefront.

Is there anything you like to be included in this article? Let us know!

4 comments:

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  2. De nos jours, le travail à distance est une excellente occasion de gérer votre entreprise. Mais vous devez comprendre les inconvénients d'un tel travail. Ici est ici un expert partage ses réflexions à ce sujet.

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  3. Nice post! Your tips have prompted me to build & leverage a Shopify Mobile App for my Shopify Store.

    ReplyDelete
  4. Writers are a unique breed. You know when you're reading content written by an expert, or at least a very intelligent writer. This article is virtually perfect in my opinion. Building a successful and profitable business just got easier. You are just seconds away from the essential training to start a business.

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