Buzz
If you're ready to take control of your future but lack the capital to buy a franchise or open a brick-and-mortar store, consider starting an online business. With an online store, you can reach millions of customers instead of waiting for people to walk through your storefront. Plus, you won’t have to pay for physical space rental. However, like any business, you'll need a perfect product and an effective marketing plan. Read Step 1 to understand the essential elements to start your online business.
Steps
Build Your Business
Identify the product or service you are offering. Online businesses give you the advantage of accessing millions of potential customers, but they also bring more competition. Whatever you’re selling, you’ll likely have hundreds of online stores with the same idea. What makes your product stand out from similar ones? To make your product more appealing, you need to identify your unique selling point.
- For instance, if you’re selling jewelry, there will be millions of others doing the same. What differentiates your product? If you are in the niche of rare jewelry (or any other product), ensure that it’s truly unique.
- Showcase your expertise in a particular field. Even if your product isn’t one-of-a-kind, you can create a strong selling point by leveraging your specialized knowledge. For example, if you are selling skincare products, it would be more effective if you have qualifications in skin health.
- Study your competitors. Identify what’s missing in the market and find a way to fill that gap with your product.
Register your business. You must register your business in accordance with the regulations of the country. Choose a name for your business and complete the necessary procedures to officially start your business.
- Before registering, you should have a business plan ready. Consider production costs, shipping costs, taxes, and website maintenance costs.
- Familiarize yourself with the national business regulations and ensure that you comply with the laws when setting up and running your business.
Register a domain name. Similar to your business name, choose a short and catchy name that is easy to remember. Visit domain registration company websites and check if your desired name is available. Once you find a suitable name, go ahead and register it.
Register web hosting services. While many services offer free hosting, if you're serious about running a long-term online business, you should consider paying for comprehensive services. You’ll face fewer issues as your business grows. Choose a hosting service that allows for future expansion.
- Some hosting services are straightforward, offering various templates for you to create your website. Other more flexible services allow you to code your site from scratch.
Create an Online Store
Build a stylish and seamless website. Whether it's elegant or quirky, traditional or modern, your online store should reflect the products you're selling. No matter the style, the key is professionalism. Your website will be your sales representative since you won't be physically present to gain your customers' trust. Therefore, your website should not only attract visitors but also ensure they can easily navigate and make purchases.
- The website design should match your products. For instance, if you're selling traditional diamond jewelry, a website with a rough design, sharp fonts, and cluttered images will likely turn potential customers away.
- Create an online portfolio. Whether you’re a Javascript developer, a graphic designer, a 24/7 plumber, or a versatile copywriter, an online portfolio will help potential clients evaluate your skills and play an essential role in the success of your online business.
- You don’t have to design the website yourself—many professional designers are perfectly capable of doing this. Additionally, e-commerce websites offer ready-made templates that could suit your needs. Once you know what you want, it’ll be easier to choose either a designer or a template.
- Focus on the essentials when designing your website. The ultimate goal is to create a simple, user-friendly site.
- Customers shouldn’t need to click more than twice to reach the checkout page.
- If it’s an e-commerce store, there should be a cart link at the top of every page.
- Buttons should be large, clear, and easy to read; input fields should be spacious and convenient for users to enter information.
- Simplicity is key. Avoid unnecessary details on the checkout page.
- Ensure that the logo at the top of the page links back to the homepage.
- If your website has a dark background, use light-colored text, and vice versa.
Use e-commerce software. You need software that allows customers to view products, enter information, and complete transactions securely. This software will store customer data safely. Don't overlook this step, as the e-commerce software you choose will determine how confident your customers feel when shopping.
- You can use all-in-one e-commerce web services. Websites like Shopify and Volusion offer competitive service packages with many free templates, optional service plans, credit card payment processing, and more. These e-commerce services make it easier to sell online without high costs. You won’t need to design your own interface or choose a template; simply open an online store using the provided framework.
Create a merchant account. In the past, service industries relied on cash or checks, and setting up a credit card payment system was both difficult and expensive. By using services like PayPal, you can accept almost all types of credit or debit cards when receiving payments from customers, and you’ll also be assisted in resolving disputes when necessary (and disputes will definitely occur).
Promote your services
Create engaging content for your website. Focus on your core expertise and present it professionally. Just as potential employers contact references, let potential clients see your best attributes. Include explanations when relevant or necessary.
- Avoid jargon. If you offer technical services, the descriptions on your website should appeal to your customers, not fellow industry professionals. For example, if you want to show that you can code in PHP and AJAX, don’t say something like: "In this case, if the input field is empty (str.length==0), this function will remove the placeholder txtHint and exit the function." Customers looking to hire you to program their website will likely be confused and think, "Huh?" Instead, say something like: "Enter text into the box, and it will auto-complete the content."
Ylva Bosemark
Founder of White Dune Studio
Founder of White Dune Studio
Share your story on your website. Ylva Bosemark, a jewelry designer, emphasizes the importance of letting customers understand who you are: "With my website, I can write about what being a high school student and entrepreneur means to me. This way, people can see where these products come from and who I am."
Be social. No matter what type of business you have or where it’s located, the key to success on the internet is creating a reputation. Open business accounts on Facebook, Twitter, and LinkedIn. If your business is related to graphics, create accounts on Flickr and Tumblr. Whenever there’s news—contracts, websites, articles, or new images—share them across all your social media platforms. Ensure these pages link back to your main website, and that your main site also links to all your social media accounts.
Become an affiliate marketer. Many companies and webmasters use affiliate programs to boost online sales, and most of these programs are free to join. Once you sign up for an affiliate program, you’ll be given a unique referral link and ID. This link will be used to market the vendor’s products. When a customer purchases through your affiliate link, you earn a commission.
- For example, if you are an affiliate marketer for Musician's Friend, a retailer of musical instruments, you can promote their products on your site. If someone visits your page, clicks the link to Musician's Friend, and makes a purchase within a set time (usually 24 hours or more), you’ll earn a commission on that sale.
Add Google AdSense to your blog or website. Google AdSense offers a revenue-sharing opportunity for websites of all sizes. These sites display ads related to the content on their pages, targeting frequent visitors. In exchange, you receive a small payment when an ad is shown or when a visitor clicks on the ad.
Tips
- Building an online business can be easy or challenging depending on the research you conduct and the groundwork you lay before starting. You can make money from online business if you follow the necessary steps and don’t skip the essential factors that lead to success.
- Most e-commerce cart providers offer free services for a limited time, which you can use to build and learn how to manage your online store.
- Look for a business system that has been proven successful.
- Since 2015, Google's algorithm has been updated to prioritize diverse content, so create engaging, creative content that draws readers in to sell your products without too much effort.
- Another important consideration in online business is choosing a payment system. Many businesses charge customers directly after signing a contract, and payments are processed via checks sent to the service provider’s bank account. However, some customers need to go through specific online payment systems to settle their bills. You may need to sign up with a payment system like PayPal to make invoicing and payments smoother and less troublesome for both you and your customers.
- Engage with your customers. Ask for their feedback on products and provide after-sales service. Celebrate their birthdays, anniversaries, and other special occasions. Offer discounts for loyal customers.
- Is there a significant demand for the products and services you’re offering in your targeted market area?
Warning
- PayPal is a payment processing tool with some limitations, as customers using debit/credit cards for payments via PayPal do not get direct refunds.
- Never give money to others to teach you how to make money. Be cautious with your spending, even if it’s just a small amount.
- Remember that you are in business. Learn from your own failures and the successes of others. Stay determined to learn enthusiastically.
- Be wary of hosting and website-building services that don’t support you in creating your own e-commerce website.
