Are you itching to know how to start an online business? Let me show you the 7 steps I took to get it working quickly.
Day 1: Register Your Business
First up is to register your business name, either sole proprietorship or company, and then get a bank account for your new business. Keep things seperate, and track your expenditures and incomes separately, so you know how much the business is making. It will also help you at tax time, since you get extra deductions for a business. Get an accounting system started – either single entry (U.S.) or double entry for other countries. Don’t be afraid to retain an accountant if the number crunching isn’t your thing.
Day 2: Pick What You Will Sell.
The usual choices to getting something to sell include developing your own product, finding a hot selling product with a lucrative affiliate program, or earnings commissions on a variety of related products or services.
This day is also where you decide to either create a product, or find an affiliate program to promote, or create a content site with recommendations to various offers.
Day 3: Determine Your Unique Market Position
Standing out from your competitors is one way to stand out and be the product that customers choose. If you find the benefit that customers are looking for, and create an offer that uniquely provides that benefit, you will have a winning business on your hands.
While creating your unique offer, you should create a profile of your perfect client, including their age, gender, income, likes, and habits. When you do this, and tailor your offer to this individual, you will make a powerful bond with your typical buyer.
Knowing how to differentiate yourself is a key step that requires you to know your customer well, and that’s why I recommend you choose something you are passionate about, so you can leverage your life experience to create something that truly offers value to your potential customers.
Day 4: Get Your Website Up And Running.
Most websites can be created in a few mouse clicks these days, and what is most important is how you set it up (e.g. a shopping cart, a blog, or a sales page format). Another extremely important step is picking your keywords – the phrases you will design your site around, since this is what buyers will enter to find you.
During day 4, you will pick either a product-based website or a content-based website. Product websites are good for things you sell, and content sites are good for affiliate programs you are promoting. In either case, you will need to choose the keywords you will use to design your content and descriptions, since these keywords are what your buyers will use to find you.
Day 5: Create Your Marketing Action Plan.
Once your website is up and running, you need to create an action plan for marketing your website. This includes choosing the tools, systems and partners to help get the word out to the world.
Day 6: Website Advertising.
Day 6 is for getting promotional material designed – banners, articles, reviews, and so on. This is also the day you should start testing and tracking, to see which traffic sources are producing the profits, and which ads are creating sales.
Day 7: Enter Selling Mode.
Once you have your market, your product, your ideal customer profile, your unique offer, your website and sales and marketing systems, then you can enter operations mode. This is where you might want to consider outsourcing – letting someone else do some mandatory work, while you do the stuff that makes the biggest improvement in profits.
At this stage, most business owners usually split their time – 10% for customer support, 30% for product research and development, and the rest for marketing and advertising activities.
It doesn’t matter what you decide to sell, just as long as their is a hungry market looking for it. If you get that part right, then it’s just marketing you can focus on, and you can start an online business that earns you a fortune. Simply follow the outline above, and make it happen starting today.
Author: Jack SinclairThis author has published 3 articles so far.