Thank you for stopping by, today I will be taking you through 8 Steps to Start A Successful Online Business in 2020. If you haven’t checked my previous article, remember to click the link at the bottom of this article to catch up and know-how you can create your own employment and attain financial freedom.
Back to the topic, most of us have a misconception about starting an online business. I had the same doubts and where i come from most people believed that online business was a scam.
I come from a humble background in Western Kenya, a region with amazing people but most of them still hold on the misconception that online works are not steady jobs.
One day while talking to a friend, I opened up about my dream life and this involved lots of traveling and making appearances in different places because I was a guru in my online field and people needed me around to increase their sales.
Surprisingly, he laughed and told me to stop dreaming and the rest is history. Well, I can assure you there are a lot of online businesses that can make you successful than most career jobs but you have to dig deeper.
To start a successful online business, you will have to follow some steps which I have covered in this blog post. Take notes…
Steps to Start A Successful Online Business in 2020
1. Find a business idea that suits you
Every business starts with an idea while most businesses fail because they started with the wrong business idea. Today I will give you tips to choose the right idea before investing your cash and your time.
To choose a suitable online business idea, you have to focus on your knowledge, skills, passion, and talent. This will help you settle on the best niche basing on your expertise ie Fashion, Lifestyle, Entertainment or Business.
In all the above niches, you can start a blog, online store on Amazon or eBay, Dropshipping, etc.
2. Research on Your Business Idea
Let’s say you have settled on blogging as the best online business idea, the next step is to research and know more about it. You have to be well conversant with what you need and how the industry operates.
There are a lot of successful bloggers and blogs out here, therefore, picking one in your niche and use it as a research sample will give you a clear view of what you are supposed to do.
3. Make a business Plan
In any type of business, you need a business plan, this keeps you in motion by highlighting your goals, mission, and strategies on how to succeed.
Below are Keypoints to include in your Business Plan.
- Executive Summary
- Business Description and Background
- Marketing Plan
- Financial Plan
- Com[etitor Plan
- Statement of Problem
This will help you understand what you have to do for your business to succeed.
4. Know the legal laws or Terms and Conditions surrounding your niche
Every business is governed by a law or at least some terms and conditions for most online businesses. This is a set of rules meant to create fair competition without anyone undermining others success.
For most online Businesses, authenticity is the key to your success and copy-pasting your competitor’s information is prohibited.
5. Set your starting strategies
Before starting your online business, you have to set your starting strategies. The online world is not all sunshine and rainbows, the community is dominated with successful individuals and to earn a spot means hard work.
6. Register Your Business
Deciding the name of your business or startup is one of the most important decisions you make. This portrays you to the public therefore it should be in accordance with the service you are offering.
7. Market and Advertise your Business
Marketing is a crucial part of brand making, you have to let people know of the services you are offering and why you are the best in the field.
Find the right media mix and make them a platform to advertise your online business.
8. Lead your Business
During your starting days, it’s better to be more of a leader than the founder or C.E.O of your business. You have to work extra hard as an employee than start by delegating duties unless you are in a good position to do that.
Hey, now you have steps to Start A Successful Online Business in 2020, Make an effort of starting yours and share to help others. Let’s chat on FACEBOOK