Do you want to start an Online Business?
- To Earn Extra Money Online. [with the option of keeping your full-time job intact]
- To Make Full-time money for living and quit the job.
- You are passionate to start a business, share knowledge/experience and make name for yourself in the process.
- Simply to solve problems [your own or others] and make a difference to your present lifestyle.
- You have free time and want to utilize the time to do something on your own.
- You want to start an online business, but don’t know what to do next?
- You have less than Rs.20, 000 and want to start an online business?
Starting an Online Business even if you are technically challenged, have minimum investment and you know little about how things work online is now easy.
Bitter Truth: Only 1 in 5 earns money online for a living.
Do you want to be that one smart and action taking person who earns money online?
Bonus: [Included in this post]
Getting started with Online Business
What are the major areas in which online business fail?
What should you be doing?
Believe and take actions one at a time and start focusing on important things.
- Know Yourself Better
- Learn Core Online Business Skills
- Find a problem [Your potential Business Idea]
- Fine tune your Frame of Mind
- Select a Profitable Business
- Reach Customers [early adopters]
You will find yourself what other things you should follow up once you reach the final stage after focusing on above 6 key areas.
You can also check why a billion dollar idea is not what you need to start a business and the important 29 things that you should focus and do over here…
Let us focus on Super 6 Key things that help you to make money Online.
#1 Know Yourself
- Your Purpose of Starting up Business
- Your Status of Skills, Knowledge, Expertise, and Resources
- Do You have a very clear Frame of Mind
- You have put some time to Know Yourself Better [Take actions, consistency, and commitment]
- Time, Money and Support you have from family.
This is a very important step if you want to make your Online Business dream a reality.
#2 Online Business Skills
- WordPress [Coding Skills]
- Email Marketing
- Copy Writing
- Content Development
- Design Skills [To develop Social Media Posts and visual content]
- Digital Marketing Skills
- Research Skills
- SEO [Search Engine Optimization]
The first 3 skills you have to learn as soon as possible and master them over time.
However, there are some great tools, resources to support you to start learning these skills such as Digital Marketing, SEO, Design, and basic coding skills on your own.
Some pointers and great resources listed for your reference.
If you are interested & hungry [Start a Blog and focus on below questions]:
You only required 3 months time and an initial investment of less than $100.
- How to rank higher in Google/Bing Search Engines [Get noticed when user types about the product or service requirement on Google]
- How to make brand awareness in social channels [Facebook, Twitter, Instagram etc.]
- How to write valuable content/information about product/services [on websites/blog/video content on YouTube etc.]
- How to communicate with the customer over an email. [Most of the conversions or sales happen in the email]
- How to promote, re-target and retain the customers with social media and email marketing automation tools.
I have extensively listed all the skills, tools and resources to master the important skills that will help you.
#3 Find a problem [Your potential Business Idea]
A great problem can be found with these following two steps. [Most of the Time]
A potential problem can be your own problem.
Now, write down all those on a piece of paper and ask yourself is any one of your problems is a pain point and you feel bad and ready to pay a good amount if there is a solution to it.
Phandira Sama of RedBus [An Indian in his early 20’s who claim himself as a very normal person but have executed his own problem perfectly with help of some cool investors and friends] could not find a bus to travel to his Home Town on a holiday season. So, he decided to build a platform to book seats online. [A successful and inspiring story].
A potential Problem can also be found by Looking at your friends or family problems [pain points].
The real question is how big or profitable your selected problem is?
How can you find if your selected Problem [idea] is a profitable one or not?
You can check these following ways:
- Google Search [check if anyone paying for Google ads on your selected topic keywords]
- Quora Search [Are there a lot of questions asked on your topic]
- Search on SimilarWeb [similarweb.com will give you a hint of competitors, similar websites]
- Competitors [having competitor is good for online business as you will find there is a market and your business idea is validated. There is a good chance that you will earn money online]
You do not want to be disruptive, innovative, nor need to discover or invent something very new and unique.
Be Different, express yourself and build online products/services which add value to your customers.
Simplify and solve the one problem and make your users comfortable…
#4 The frame of Mind:
You are committed to spending some 2-4 hours of time every day not focusing mainly on immediate income from the online business.
You have no overheads (system, the internet, hosting space etc)
You have the basic things that needed to start an online business.
- Internet Connection
- Domain name and Web Hosting space
- Website/a blog/online teaching platform
You have the skill set and basic business skills or want to learn and have hands-on experience on internet tools.
You are ready to learn and do all things needed for a successful online business.
- Coding [WordPress: it’s very easy]
- Designs [using tools] [or you no need to be a Photoshop expert]
- Promote on Social channels
- Learn Digital Marketing
- Read and read all niche blogs related to your business
So overall, nothing to worry attitude and get ready to experience the new Online Business Startup ride with an expectation of minimum side income say Rs.50000 for bill payments in 6-9 months time.
Quick things you have to follow to become successful:
Action taking mindset.
Finish the things which are doable in 2 minute time [feels better right when you finish the tasks if it is big or small]
Priorities and finish the tasks every day.
Complete the tasks you started do not leave it. If it is taking more time skip and move away and find some other time to do it. And if it is not a great thing to do scrap it forever [you always have alternatives]
Be motivated and do not lose your confidence if you do not see any results after 3 or 6 months. [Rome was never built in a single day]
Be consistent in what you do and always keep reading industry related blogs, influencers, your competitor or your niche websites, social channels and know how they are doing the things successfully.
Time, Money and Support:
Time: keep 6 months to 1 year time
Commit yourself to put your efforts every day for 2-4 hours even if you have a full-time job, family and even a small kid to take care of.
Money: You cannot build businesses without investment [even though if you are ready to put extra time as an investment there is no escape be ready to put anywhere between Rs.20,000 to Rs.1 Lakhs for your Online Business.]
Check Yourself: Do you really care for fewer quality products or services? Do you care of websites which has low speed and takes a while to load pages or do you care for their design and simplicity of usage if not great?
So, it’s same with everyone. So invest in a quality website, platform, speed, good design to attract visitors customers have very less time span to notice you]
Support: from family, friends and colleagues or freelancers and other people who might help you with the works that you might face difficulty [it’s ok to outsource or get help for the things that you are not good at and no one is perfect and does all. But pay the minimum and use whenever and wherever you required only.]
Note: If you are starting up an online business it’s not only you but also your family and your better half are also taking the same amount of risk, pains and time they are also involved. [So make sure you balance everything work, part-time, passion etc]
#5 Why Starting a Profitable Online Business Matters?
You have found a great Business Idea and you are good to spend time on your business.
Now, why to select a profitable business idea?
Simple. You are in the business to make money [side income, passive income, full-time income or 6 figures income] All other stuff passion, being your own Boss, flexible timings, spending time with family and love what you love to do (work) are secondary.]
Are you getting me?
Yes, a profitable business is what all matters at the end of the day to be happy, healthy and more productive.
Once, this is figured out [making profits from what you do online]
You will simply love and create more value to what you do and to your family, friends, to the society and most importantly to your self-care.
The 3 Most Profitable Ways to Make a Living by starting an Online Business Today are:
- Blogging Business[Affiliates and Your Own Products]
- Online Training Business [sell your skills/knowledge online]
- Selling Your Products Online [Informational products, Digital products such as ebooks, pdf files, books and your own manufactured/produced products such as paintings, music, handicrafts]
#6 Reach Customers
With the skills you have gathered by selecting your business idea, sharing your business idea with friends, family, colleagues etc.
You can reach unknown and completely new persons with your Business Idea easily.
Also, with the Online Business skills, you are going to learn with two months of your invested time will help you [from step 2 core skills] to reach potential customers on social channels and online.
If you come this far You will definitely find ways to make your startup dream successful and will find some good mentor, awesome people who will help you in every possible way and support you and guide you to make your online business dream a reality.
Take The Most Important Step after You Read this post:
Getting started with Online Business
To start a website you require 3 basic things first:
- A domain name
- A Hosting Space or Server
- A Content Management System (CMS) such as WordPress [to store the files which contains your information or data]
Domain Name :
Domain Name is your Brand name or website identity/name with which anyone can see your website and check what you offer/write or showcase (portfolio/products/services etc)
You have to buy a domain name from Domain Name providers after checking the availability of the domain name you want to register.
This is the first step and most important as your website name [domain name] is the one remembered by users.
Some of the Domain name providers are:
The domain name registration costs You around $5 to $12 per year per one domain name registration.
Pro Tip: Always find domain names with .com or .in/.uk/.us [country specific] extensions.
These domain names are very popular and internet users typically type .com or country-specific extensions when they search for any specific websites.
Hosting Space or Server:
Hosting space is where your website data [all files which contain the information] is stored.
Pricing: You need to pay anything around $3 to $12 per month for a robust hosting service [The quality customer support team is the one which you have to check]
Also, check the uptime, security, speed etc. [You can further know about these details on Hosting Services Providers]
I am considering only you Small Businesses owners, Internet Business, Bloggers and Freelancers and small e-commerce players for the purpose of this post.
Note: An enterprise, e-commerce websites and Large-scale applications require a different set of Hosting and website platforms.
ProTip: Some providers will give you Free Domain Name registration for One Year when you take their Hosting services for One Year.
Few of the Best Hosting Services for Bloggers/Freelancers/Consultants and solopreneurs are listed below:
Domain Names | The World’s Largest Domain Name Registrar – GoDaddy [Managed WordPress Hosting for newbies] is a good option to start with.
You can always switch the Hosting services and as you become more aware of what you really require choose the best Hosting Service according to your requirements.
WordPress [CMS platform]
WordPress is the best and most popular CMS provider [Online Business newbies, the Bloggers, and Freelancers.]
Simply, it is easy to setup (no tech required -very minimum), maintain and Free and has a large community who are very helpful. There are so many videos and information how to setup WordPress for beginners and master the Platform.
When You type in Search engines (Google) on any topic related to WordPress, You have several in-depth articles and information to your problems.
Avoid These Major areas in which Online Businesses fail:
Unfortunately, many businesses fail even if everything was executed according to the plan.
Some of the failure reasons You want to avoid are listed below:
- The timing of the Business Launch.
- Lack of Core skills and expertise needed to run the business.
- Funds [time to time funds to support and sustain the business]
- Business Idea
- Poor Market Research and Customer analysis [targeting wrong customer groups or not targeting the early customer group who are ready to pay for your services]
- Educating the services and products of the business sometimes require online advertising budget [or Too much advertising on educating customers]
- A list of overwhelming things to do. [and you focus on many things and find yourself doing nothing]
- Market size [no market for the product or services you launch]
- Depending too much on core skills such as technical, sales and online marketing on third-party vendors or outsourced companies.
- Too much time spending on product website/blog [coming up with too many additional features]
Take actions and do one task at a time and follow good things that most of the successful business person do.
I hope this article gave you insights about how to start an Online Business even if you are technically challenged, have minimum investment and no business idea to start. You also learned why selecting a profitable business is the best way to make money online. Also, you learned how to get started and what are the factors that most Online Business fails!
Any questions? Leave a comment below!
P.S. Look forward to my future articles on profitable online business insights and more!