5 Things You Need to Know When Starting an Online Business

Let me share with you some underline secrets that you need to know starting an online business. Before I eventually became a freelance writer, I wanted to be an information marketer. I just wanted to make money online because I have had this love for online business during my secondary school days.

I created my first blog after consuming lots of online materials. I wanted to be teaching people how they can venture into information marketing and make a huge amount of money. This was because I have read in many blog post that information marketing is the only online business one can start and within a month, money will start coming out.

I created my sales copy and started directing traffic to my blog. Fortunately for me, I started making sales in that first month as I was told. I was happy, very happy. It was my first time making money online.

But, something happened.

Sales stopped (maybe my village people noticed). I could not get people to buy my eBook again. I could not even post content anymore because I have to copy and paste content from other people’s blog.

I had no idea of what to sell anymore. Nothing new under the sun that is not easily seen on Google, so who will pay for it? I could not tell what even happened.

I started an online business (information marketing), sold eBooks, nothing to sell again, the business closed. That was the end of my first online business. It only existed for one month. I gave up and went looking for a job.

So, why did I share my story with you?

People are always excited when starting an online business. They imagine themselves already making the money. They see themselves already making sales or getting their first client.

The problem I have seen among people that start an online business is, they don’t see online business as a business. They see it as one money making machine that they can just create, push some buttons and money start spinning out within the first month. And when money doesn’t spin out, they don’t try to find out what they did wrong or did not do right. They just give up and start commenting “info” on people’s status on Facebook to find another online business that can give a try.

It doesn’t work that way. People that are making money presently with their online business did not just hit the start button and money starts spinning out immediately. Some didn’t even see any cash for their first three months because it was all about trial and error.

So, here are some things you need to know when starting any online business if you want to achieve success in that business.

  1. Study your Grind

This is very important if you must succeed in online business. People just want to start an online business without first studying about the online business they want to embark on.

If you must succeed in the online world, you must study the game long before you start. I deliberately used 3 months to study the game of blogging which includes how to get traffic (organic and inorganic), how to create headlines that people can’t fail to click, SEO, sales funnel and many other things.

My first month of launching this blog, I was able to get 10,000+ views. Why was this possible? Because I have done my homework by studying from top bloggers and writers.

What niche of online business do you want to go into? Have you studied the business? Can you teach someone about the business if he or she asked you to?

I will leave that for you to answer. On the next one.

  1. Find your Customers First

Starting an online business has to do with filling a need and building credibility. What need do you want to be filling? Who do you want to serve? Where can you find them? What message do you plan sending to your target market?

These are what you must plan long before you even buy a domain. Don’t go into any online business with the mindset that when you build it, they will come. I started planning for this blog long before I launched it.

Get clear on what niche you want to focus on. Decide the problems you can solve based on your expertise. I decided that I want to go into the business of empowering people to starting an online business with a specific niche in mind: freelance writing and blogging.

Do I have a customer already? Yes I do.

Who are your customers? Are they people who want to lose weight but are not able to find the best solution for that? Do you know how you can help them? Do you know where and how to get their attention? If yes, create a strategy that will lead them to you and through your sales funnel.

This is how people like me smile to the bank every week.

  1. Build an Audience

This is where most online businesses missed the mark. You put up a beautiful blog with great design and layout, but the money is not coming because you have no audience.

You and I know how painful it is to put up a post and nobody care to read it because the topic might not be new to them again or they don’t see you as someone that has anything to say on such topic.

Here are ways you can build your audience quickly:

  • Guest post on blogs. This one is highly effective. Some of you reading this post now came here as a result of one of my guest posts you read on one of your favourite blogs. I got more than 50% of my readers through guest posting on blogs with millions of traffic and it has really helped me build my online business.
  • Drop effective contribution on online forums with links back to your blog.
  • Learn how to use comment on blogs with your kind of audience to drive traffic back to you blog where they can subscribe to your list.
  • Leverage your social media platforms.

Your money is with your audience and if you don’t get them gather in one place, you won’t be able to ask for offering.

  1. Develop a Monetization Plan

After you have started getting reasonable traffic, created your own community or list, it is then time to implement your income plan. Read it again. I said, ‘implement’ not ‘plan’. What does this mean?

It means you should, in fact, must have created your income plan before you even think of creating a blog not to talk of a community.

It shocks me how many people come to me saying they want to start a blog but don’t have any idea how to make money with the blog. I don’t know who told them to start in the first place.

Plan the products or services you will be selling to your audiences. Use your exposure to sell your products or services and build your business.

  1. Think Long Term

If you can do this, you will surely win in online business. You are into building a business you will be doing till you get old and retire. This is a business you are creating as your exit plan from the 8-5 lifestyle.

So, why should you be in a hurry to start making that 6 figures that everybody is talking about on social media? I don’t give a damn about who make 6 or 7 figures weekly. Every dedicated, committed and smart working entrepreneur will surely get to that stage. Why hurry?

Don’t rush your audience into buying what you sell. I don’t think you would like it yourself if you are rush. Zig Ziglar once said, ‘if you will help others get what they want, they will help you get what you want’.

In my own words, ‘if you help people pay their bills, yours will disappear, make their life easier and better than before they met you, yours will experience the same thing. It all draws back to helping people and not getting rich quick.

I will like to hear from you via the comment box…

    1. Oluseye July 14, 2017
      • Okon Joseph July 15, 2017

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