Boss Lady

How to create an online business with results

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The world of business is rapidly expanding and there is opportunity wherever we look when it comes to capitalizing on untouched niches. There is also enormous room to join fellow entrepreneurs and business owners even in previously established sectors. These days we reap the rewards of being able to set up a company from the comfort of our own home and with little in the form of expenditures. The benefits of this are endless – provided we have the ability to plan and execute our thoughts, we can earn money based on our efforts and not selling our time.

Here, we take a look at how we can create an online business that will give results.

Planning

This could be the most important step in your business career. There are many that say having a well thought out plan isn’t as useful as you may think but I would seriously consider being as detailed as you can in this stage. Everything in business runs off something, and comes from somewhere, nothing is spontaneous. While you may think starting your business quickly will be a good thing, you need to be prepared for all eventualities and hiccups that may stand in your way. If you’ve planned for a variety of issues and know how to deal with them then it will be handled with relative ease.

The plus side of having a decent plan is you will be able to implement based on other businesses and use those ideas to contribute to your own. Step one to long and successful business life is your initial plan, don’t invite failure by skipping this step.

Website

As we are talking about online business, your website could be the most important thing linked to success. A vital stage where you can incorporate a number of techniques to increase your chances of becoming profitable. Firstly, the aesthetics of your website have to be spot on, not only does this mean it has to look nice, but it also has to have a simple user interface. Consumers are often put off by overly complicated websites and if there is no traffic to your site, there’s no profit.

When it comes to using tools for your increased website performance there are thousands you can choose from. However, as we are talking about creating an online business that gets results we will concentrate on how to generate more traffic. Online shops work exactly the same as physical ones. If there’s no one inside you have no chance of making money, so the age-old question is how do I attract customers to my shop? Online we use something called SEO which stands for search engine optimization.

Simply put, this is where you attempt to get your website as high as you can in search engine rankings and make it the most relevant for keyword searches. If you’re selling anything online then utilizing ecommerce SEO will not only bring more traffic to your online store but potentially increase the conversion rate of consumers. It works in a simple way, the more potential customers that are exposed to your product, the higher the chance someone will buy something. The ultimate goal when talking about SEO is being able to have your website or shop as the first option on a search engine when someone types in a word or phrase that’s related to your product.

For example, let’s say your company sells collectible shoes, when a customer types into Google, “collectible trainers 1999” you want your website to be right at the top of their search, why look further when you’ve already found what you’re looking for?

Business model

This may well be included in your plan but it’s important to have a small description over what business model you might choose. Simply put, it’s deciding how you are going to make an income from your business plan. There are four main areas we can discuss in terms of your business model and what you choose depends on how you want your operations to look like and how you want to be seen through the eyes of the consumer. 

Advertising is one of the main ways an online company can make money and it involves selling space on your website to other businesses. The more traffic your website receives will dictate how much money you can charge for advertising. If you’re receiving 5000 hits a day then you’ll have advertising space that’s highly sought for by other companies.

Subscription is a model that works if you are releasing new content every month. This includes the consumer paying a monthly or yearly fee to access whatever your company does, or sells. For example, there are many online publications that run off a subscription service that will send out the latest issue to their customers each month. Also emerging into this market is a range of alcohol-based subscriptions that send beverages directly to your door regularly.

Freemium is a fishing style technique that lures in the consumer by showcasing a small amount of their business, just enough to get them interested, and then requiring payment to continue. This is a fantastic way to showcase your product and get consumers to understand why they need it before choosing to invest.

Alternatively, eCommerce, very simply, is an online shop. You will make your money by selling a product, whether it be physical or digital. There has been a revolution when it comes to traditional shopping and the number of people choosing to shop online is increasing rapidly. There is always healthy competition with online retailers that will boost sales if you’re able to strategize properly.

Advertising

Advertising is key to any business and will be the predominant form of getting customers to your website. If you have a good advertising campaign then the chances are you’ll have more traffic to your site and higher conversion rates. These days, the need for the majority of media advertising is very low unless your company is a multi-million dollar organization. You will get more out of using social media than you will any other form of advertising. Social media has taken over our lives and many rely on it to make an income. As a result using influencers – individuals with high amounts of followers – has never been more productive and successful. If you’re looking to really give your site a boost, research influencers within your field of business, and pay them to advertise your product. Half the work is done for you as you are already hitting your target market.

Starting an online business is difficult but very rewarding, as long as you’ve made sure you’ve planned for every outcome and have a decent business plan. A great business model is obviously going to contribute best to making you money so think about it carefully. Not everyone will have the same thoughts as you so it’s important to take advice. Use every tool at your disposal to utilize your business and get as much traffic coming your way as possible. Creating an online business is a great way to become your own boss and enjoy your future.

About Peta McGrath

Peta McGrath is an accomplished marketing and career advisor, specialising in helping women develop their best possible strategies for career and business advancement.

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