How to Start an Online Business: Tips and Tricks

D

Deleted member 13140

Guest
For starting an online business, you can follow these tips:
  1. Determine your niche and business idea.
  2. Conduct product research.
  3. Learn about online business laws.
  4. Conduct market research.
  5. Define your target audience.
  6. Source products to sell online.
  7. Evaluate product viability.
  8. Define your brand and image.
Well I want to add to your list there because right now am going through a hard time in my online business and I think the only solution to it right now is to have a business plan.
Honestly it's really important.
And it should actually be on that number 6 list because every other thing there is important.

All I'm confused about right now is how to write a business plan, I know its such an importance but I don't know how to go about it and my whole journey and all depends on it because right now am I really don't think I know what am doing ?
 

Mika

VIP Contributor
Don't you realize if you are selling software, you need to frequently update your software. If you are selling ebooks, your ebooks also need to be updated for latest information. A lot of digital products need frequent updates, you also need to frequently develop new products because at some point your old products stop selling
 

Jasmine

VIP Contributor
That's very true. But think other way around, you spend money once to develop a digital product, but you will have to spend money every time you want to develop a physical product. Let me give an exampe, you spent $100 to make a software. You can sell unlimited copies without spending extra money.
 

Mika

VIP Contributor
There is a limitation in selling digital items. You can sell movies, music, ebooks, designs, software, streaming service, what else? But when you are selling physical products you can sell anything as long as you have customers for the products you are selling. I think selling physical items is more profitable.
 
D

Deleted member 13140

Guest
Well, it's true you can sell physcial products with ease, but I think the money is in selling digital products, it's quite easy and simple, the only thing in digital products is that you got to have skills and experience, let's say for instance you want to be a freelancer (well that's selling a service) but with the experience of being a freelancer for 2 years you can create an online course on freelancing, and sell it
 

Jasmine

VIP Contributor
True indeed, setting up an online business is easy and it does not cost much, but generating sales is very difficult. That's because you have to compete with the existing businesses like amazon, ebay, etc. You need to build brand before you can generate sales. You need to prove that you have better products
 

Mika

VIP Contributor
Business generally refers to selling products and services. YOu can create any kind of services or products to sell. You can even sell someone's products to make money. Setting up an online business does not take a lot of time or money, but what is difficult is surviving the competition.
 

kayode10

VIP Contributor
It is good to set up an online business creating that will solve people's problem. For instance, a lot of people are looking for ways to make money online. You can simply create a video that will show people different ways of making money online. You can list this video courses on digital marketplace online. Affiliate will promote your product and you will make sales on autopilot.
 

Jasmine

VIP Contributor
Decide on what kind of online business do you want to start and how you want to do it. Choose what kind of products you want to sell. Once you know the modality of your business and have the products that you want to sell, start building your store and then market you store.
 

Mandy96

Valued Contributor
I think you have a great point in your post, I would like to add more to it. You can also make use of the help of online stores to promote whatever you are selling, I mean your products. Most online investors don’t know this and it is very important
 
D

Deleted member 13140

Guest
An online business is really a good thing for people to focus on and I think I prefer starting from social media. ( that I mean by selling through social media ) it's quite simple and easy just grow your following, well haha I take that back its not easy to get a following it takes alot of work well that shouldn't be a problem for someone who wants to sell products on social media.
 

btaliat

VIP Contributor
Kudos to the writer of this master piece. Before one start online bhsiness, there is need to know the channel that one wants to use in advertising the business. Personally, I prefer selling on my own website to selling on those e-commerce sites. This is because those sites may fold up.
 

Mika

VIP Contributor
What exactly is online business?

Selling products or services through online platforms is an online business. You can sell anything online from a hair pin to cars and house. You can sell through social media (facebook, for instance), from ecommerce marketplaces (ebay, Amazon, etc.), from your own website.

How to start an online business?

If you want to sell through social media, you have to list your products and services and start promoting. If you want to sell through ecommerce marketplace, you have a lot of options, you can choose the one you like and create a listing. If you want to sell from your own website, you will have to build your website and list your products on your website.

You can run an online business only through a website whether it is your own website or a third-party website.
 

sincerem

VIP Contributor
That's interesting to hear about Amazon FBA marketing. I am from a tier third country, and Amazon isn't available here in my country to earn from FBA marketing. People from tier third countries can utilize other mediums to get started with selling online and making money from sales.
 

Mika

VIP Contributor
what about amazon fba? anyone has tried it?
I have not tried Amazon FBA because the program is not available in my location. However, I know what FBA is and how it works. FBA or Fulfilled By Amazon is a program from Amazon for sellers who want to sell their products under the flagship of Amazon. FBA allows you to sell your products through Amazon brand.
 

Augusta

VIP Contributor
Starting an online business will need you having a good strategy to drive traffic and target mostly the group of people you need them to see your products. So you need to have a website to drive the traffic to and you must create an account on almost all the social media to get traffic from there
 

Sherman198

VIP Contributor
Having your business is definitely the best way to go, instead of being someone's puppet. If you have something you have been willing to sell, you can let out. Firstly, you bring down the idea, the nature of the businesses. Selling clothes, makeups, cream etc.... Then you create your own website where you enlist your products then your start advertising your website to lure traffic to your website, then slow you go before kaboom!
 

DonaldMinnick

New member
I think everyone should try to have their own business. Because I found lots of free doing own business rather than doing job under another person.
 

sincerem

VIP Contributor
When I'm starting an online business I'll simply choose to run it via my own portfolio website, then promote it using social media platform. I'll build a blog website, where I'll simply run affiliate marketing with it, sell digital products, etc. As for online store i wouldn't go into it cos it will need money to build a portfolio e-commerce site, and promote via social media.
 

Alexandoy

VIP Contributor
It would be the best to have your own website when you will start an online business. For example you will be selling different type of products. You can have the category listed on the home page like a menu with a short description and price. What's good in having a website is that it can be monetized to earn from the ads.
 
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