Everyone can sell online now
All the features you need to start your online business and succeed
Whether you are an SME or an Individual Entrepreneur, you have all the features that help you create your online store and make your business grow.
Starting a small business online is not as hard as you may think. Actually, it is a niche in the “fast and furious” marketing and business development world which include the Internet along with its “WorldWideWeb” communication. So, in this article, we are going to introduce you into the world of “online business” and the “10 - step process” to a successful one.
The history of online business - Why should you start the dream from here
Types of online business
Who are you in the online business market?
10 steps to start a small business online
Step 1: Owning the great idea
Step 2: Finding the needs, choosing your market
Step 3: Know about Technical and commercial - Take a short-term course
Step 4: Market research: when the product meets the needs
Step 5: Be the winner before war – know your competitors
Step 6: Break it or make it – learn the online business law
Step 7: Build your store – online website: the game changer
Step 8: Product: know it, now get it!
Step 9: Marketing: one more thorough step towards customers service
Step 10: Learn from experts and successful online businesses
Step 1: Owning the great idea
Any successful business starts from a great idea. And that great idea must have all the great answers for these questions:
- What is your business going to be about?
- Who are your customers?
- What is your target market?
- What are your key products?/What services do you offer?
- Who are your competitors? Of course, it is not easy as that. You can figure out all kinds of right answers to fulfill the question bar; however, it is important to remember your core values and the only one main purpose that is driving your whole business ahead – it all lies within the word “Why?”.
So, before all the “What’s” and “Who’s”, let’s first think about the one and only “Why”. Be it as easy as much as possible, online businesses should start simple, practical and “out of the box”. What kind of solution will your business offer for people?
Step 2: Finding the needs, choosing your market
“The first winning move: look for the needs and fill them, begin from the right market.”
We have just came up with a great idea to start your online business. Well, that was the pre-first step. Now you are going to take the first winning move: yes, in details – finding the needs and choosing your market. Remember, you already have a winning idea. How? You looked for a solution for a number of people to a certain problem that they may have in life.
You started right.
Many start-ups bear in mind the desire to look for a unique and desirable product foremost, and then, a market, which comes second after the magnificent product.
However, always start with a market.
There is always a group of people searching for a solution to a problem, but not finding many results. Too many services and products are called themselves innovative and trend leading, we are so lost in the world of “for a better cause of humanity and branding identities” that simply when it comes to finding a solution to a small problem in our daily life, thinking about having one direct and functional solution seems too “far-away”.
Step 3: Know about Technical and commercial - Take a short-term course
At its core, a business plan helps you prove to yourself and others whether or not your business idea is worth pursuing. It's the best way to take a step back, look at your idea holistically, and solve for issues years down the road before you start getting into the weeds.
The following major inputs are required for setting up an enterprise:
- Land, building or shed
- Machinery and equipments
- Raw Materials
- Power and Water
- Skilled manpower
- Capital
What basic training is required for setting up an enterprise?
Basic training differs from product to product but will necessary involve sharpening of entrepreneurial skills. Need based technical training is provided by the Govt. & State Govt. technical Institutions and professional institute, business school, e-learning platform.
What is a project report?
The project report is a document, which gives an account of the project proposal to ascertain the prospects of the proposed plan/activity. The project report contains detailed information about
- Land & building required
- Manufacturing Capacity per annum
- Manufacturing Process
- Machinery & equipment along with their prices and specifications
- Requirements of raw materials
- Power & Water required.
- Manpower needs.
- Marketing.
- Cost of the project and production.
- Financial analyses & economic viability of the project.
Some Reputed Professional business schools:
Step 4: Market research: when the product meets the needs
“Take a step back to win further steps ahead: validating your product – evaluating trend products.”
You have got the idea, you have figured out the potential market, and, you have even come up with a detailed solution. Great!
Now it is time to take a step back and link all parts together: your idea – your market – your product/service, how it all relates thoroughly. In short, you have to conduct a market research. A market research consists of many parts - What’s included in a market research?. It is important that your key product/ service hits the market perfectly. In order to ensure that, you have to take time to validate and review your product/ service, consider and evaluate some trend products, do some keyword research, estimate your potential customers’ reaction to your product/ service, … there are many things you can do to have a deeper understanding of the current market that you are about to be a part of.
Step 5: Be the winner before war - know your competitors
“Know what is already working and what can be improved.”
In order to launch yourself in the market, you have to define your branding and positioning in it. Analyze your competitors to see how they are doing.
Who are your competitors?
What problem are they solving for people?
Who are their customers?
What are their products/services?
What are peoples’ responses to their products/services?
Step 6: Break it or make it - learn the online business law
“Online business rules you need to know”
Be willing to learn. There are many factors that can make or break your business if you are not aware of them. After all, you can not be an entrepreneur, let alone starting an online business, if you are not willing to learn.
Step 7: Build your store - online website: the game changer
“The world of online trading and how the online shopping experience changed the game.”
The importance of shopping experience
It is already known, that in this age of information, everything is diverse, this includes your customers and their needs and wants. If you do understand your customers, you will know how the overall shopping experience has been the real game changer between businesses all along the online trade.
What was once a human story about value and values exchanges and conversations has turned its way to the “intelligent retail”.
Step 8: Product: know it, now get it!
“Understood - there is a need for your product and there are customers who are longing for it. Ways to source your product.”
Well, once you have already set up your market, your website and the product you have in mind, it is time for the next step – get the physical product itself. So, how can you source the products for your retail? Here are some methods:
- Work directly with manufacturers
- Work with wholesalers
- Or, just make your own products
Step 9: Marketing: one more thorough step towards customer service
Email marketing
You must know that the email list is one of the most important assets you have when growing an online business. By having an online store or online shopping channel, through these channels, a list of potential customers should be built. The more contacts you get, the more successful your email campaign will be.
Step 10: Learn from experts and successful online business
“You can figure a way out of the jungle, but you can rather be quicker and just walk out of it – Guidance and directions are important.”
We say it short: there is a difference between operational and successful. Manage your time wisely and learn from the experience of the ones who already made it and are still doing it great!
