Let’s first understand what is an online business.
Online business is the transaction of information over the internet. This information can be in the form of any product or service. Well, how to collect income in online businesses. It is of two forms of Active income and Passive income. In Active income, you” ll have to actually work the whole time in order to earn, while in the passive income you can just provide the service, and you will get paid even though you are actually not working.
Now let’s get to the main point.
“How to start an online business ?”
Well, the population of the globe is increasing day by day. Today majority of youth are drifting towards entrepreneurship, maximum inclining towards online businesses. Hence, today the competition is at its peak. Also, there are other struggles for online businesses, such as:
**Internet penetration is low in many developing countries. As a result, the market shrinks.
**People not favoring online transaction keeps the online businesses in the loss.
**Cash on delivery may push business holders at a high stake of risk at times.
**Return the product feature in e-commerce websites is customer friendly but may hamper the business with a huge return of products.
“Ships are safer in harbor, but they are not meant for this purpose”, means just because there are obstacles in the way, it doesn’t mean that you will stop.
But the question which arises, is this how to start an online business on first hand?
An entrepreneur should perform the following activities in order to start an online business :
(1)Recognizing the ideal product: Proper research needs to be done to determine the potential product for the market.
(2)Collecting Feedbacks: You need to know if the product is what the customers actually need and whether that product requires any improvision. Feedback should always be non-biased. You can conduct online campaigns to collect feedbacks.
(3) Develop a business website: Making a website for your business is a tough row to hoe. It requires proper experience and knowledge in order to develop a business website.
For website development, you need to purchase the domain name and hosting, create content, require a website holder to customize your design and then publish.
Steps to follow would be:
#Registration of websites domain name.
#Selection of your hosting provider and Platform
#Develop the content for the website
#Design a logo for your website
#Design your website
(4) Develop a proper network:
Without customer no business runs, may it be offline or online. And how do we collect customers? You must have noticed that before a film releases, a proper promotion campaign is being held. So that the audience is aware of that movie. Similarly, we also need to make the customers aware of your product. This could be done through the use of social media such as Instagram, Facebook, etc…Today social networking sites such as Instagram provides multiple features to build up followers and let your business to grow. There you can let your followers know about your product, keep them updated with daily news and also provide them the facility to avail that service, if they wish to, through Instagram itself.
(5)SEO: Optimize your website to search engine. This will help in increasing the quality and quantity of website traffic and hence the customers.
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(6)Go for email marketing: Email marketing is not about spam emails. It is about personalized emails to those recipients who agree on emails being sent to them. This emails build up their confidence in the product or service and also keep them updated about the latest service or product.
(7)A properly planned strategy is prerequisite for any business, let it be online or offline. Develop a strategy by working on a full proof marketing and sales plan.
(8)Develop the potential of doing almost every kind of job, starting from website development, to coding, from content writing to marketing. As in the beginning, there will be more hurdles, hence it’s better if you are yourself able to do each work.
(9)The last and most important one is to believe in yourself. Never lose confidence. The journey would be long and tough, but you will be able to complete it, if and only if you keep yourself
motivated.
Tennis champion Billie Jean King wisely quoted “Champions keep playing until they get it right”.
So stop fearing from failure and start working both hard as well as smart.
Bibliography::-
5)digitalvideo.com
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