There are countless ways to start an online business. Especially in 2021, there are now more opportunities than ever to get started.
The common misconception people have, is that starting an online business is difficult and time consuming. This is only heightened by the fact that most online businesses end up failing. If you follow a proven path and stay consistent, you stand a good chance of becoming a success. And best of all, it’s not as difficult as you think it might be.
In this post, we’re going to look at exactly how you can get started with an online business, the different business models and how you can ensure success so that you don’t need to answer to your boss ever again.
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Why is starting an online business so intimidating?
So many people start an online business with the promise that it’s easy. However, the majority of them find the whole process far more complicated than they initially expected.
You might have gone through all those webinars and expensive training from all these gurus telling you how super easy it is to build a business that earns you $2000 in 2 minutes.
A lot of the methods that gurus teach you are mostly tactics, not actual strategies. In other words, tactics that might work currently in the short term. If you want to build a thriving online business, you need a strategy that works long term!
That’s not to say that the idea is entirely impossible to execute, because there are many models out there that work and can help you generate seriously good money, but you need to be aware of the potential risks you may face.
Some of the business models that gurus preach by, which seems most tempting for many people, isn’t a viable business to actually run as a long term business.
Even though some are, it’s important to understand that the best business model is one that you can actually afford and will sustain you for the long haul.
A successful business doesn’t happen overnight. It can take months and even years for it to happen. This is another reason why starting an online business can be intimidating for people. They don’t have the patience to wait it out, and see the lack of progress as a complete failure.
Benefits of running your own online business
A lot of people start their own online businesses because they want more control over their own life.
It’s usually for one of these big 3 reasons; time freedom, financial freedom and location freedom. Time freedom in the sense that we want more time to do things we love like spending time with our family rather than work. Financial freedom would mean that we no longer need to worry about paying the bills and our loans anymore. Location freedom means the ability to work from anywhere in the world (you can even work on your business from the location below as long as you have internet and a laptop).
Maybe you have a vision for something you want to do in life and don’t want someone else to have that full control over you.
However, while it may start out OK, things don’t usually go that well, and before long, you might find yourself running out of money. This has happened to me on countless occasions, so I completely get it.
The truth is, you don’t need tons of money to run a business. You can start out really small, like $30 even!
You can then continue to grow from there, as long as you are consistent.
There are numerous different kinds of online businesses, and as we’ve touched on in previous articles, there are several different business models you can use to get started. We’ll be looking at a few of them in this post, and we’ll then look at why you need to pick the right one.
Downsides of managing your own business
Although many people start an online business, it’s not always easy.
In fact, most online businesses can be taxing to the person managing them.
In most cases, their lives are put on hold and the only time they have to check on things is in the evenings.
Furthermore, the additional responsibilities can make working on the business feel like work.
This is especially true when you don’t have the business acumen to run it the way it should be run.
Although starting a new business is exciting and helps to feel like a pioneer, it can also be stressful and draining, leaving you feeling useless and worthless.
However, with some effort and determination, this is something that is easily overcome.
Another downside to point out, is that a lot of beginners struggle with traffic. This is perhaps the singular biggest concern a lot of budding entrepreneurs really struggle with right now.
How to start your own online business
Here’s what you need to know to start your own online business.
As mentioned above, starting an online business isn’t as hard as people think. There are lots of options out there for people looking to start their own online business.
To start, the first step is to decide what type of business you want to start.
Do you want to sell digital products? Perhaps sell online courses? Maybe start a YouTube channel and build your own content empire or even just use the internet to help people become more active by marketing things they want to buy.
There are literally plenty of ways you can make money online. And this health pandemic has only increased the number of opportunities to make money online (since a lot of people are either working from home, or are currently unemployed).
The next step is to think about how you’re going to go about doing that.
If you’re going to sell digital products, you will need to get online to sell them. If you are considering selling digital products, Kartra is probably one of the best in the market right now (yes, to be transparent, I am affiliated to this product). Check out Kartra here. You can also check out my post related to Kartra’s features here. Or if you’re looking for a free alternative, then GrooveFunnels might be a better option. Sign up for GrooveFunnels with here.
One of the best ways to start an online business is by using a platform like Fiverr.com to offer freelancing services to people and build up a list of people you can potentially keep selling to, or by selling useful stuff on eBay.
Different business models to consider
As we mentioned earlier, there are more opportunities than ever to start your own online business.
You have plenty of options to choose from including:
- Selling physical products on an e-commerce site.
- Selling digital products (like online courses or eBooks).
- Live coaching (like fitness coaching or life coaching).
- Becoming an influencer and promoting affiliate products
How to start an online business
So, if you’re keen to become an entrepreneur, first things first, you need to create an online business plan.
This is essential so that you have a blueprint to follow for your online business.
It will help you decide on the features that you’ll need to make your online business profitable. There are two common types of business plans, written and verbal.
Successful strategies to try
There are a number of strategies you can try to get started with an online business.
These have helped millions of people get started, and many of them are outlined below.
Create Your Own Social Media Pages
While the way you make money from an online business will vary, the most profitable businesses that do exist have relied on their social media pages to make money for them. That’s why creating your own social media pages is one of the most popular ways to build an online business as you can get a stream of traffic which can eventually end up making you sales.
Create Professional Videos for Business Promotion
Another popular strategy is to create professional videos for other people’s businesses. There’s quite a demand for this space. The demand for video marketing is growing and businesses are willing to pay good money to have someone create videos for them as it saves businesses time.
Despite what some people might think, starting an online business doesn’t have to be difficult. You’ll need to make sure you stick to a solid plan and work day and night to ensure you are 100% satisfied.
Remember how I mentioned that it’s easier than you think. Well, the truth is, the beginning is probably the hardest. If you can get through that hurdle, it really does get easier and easier. You’ve got to be really stubborn and stick to your plan until you start to see the needle move.
After you start making serious bank, you can then get fancy and do things to automate and outsource so that you save yourself a lot of time and can travel the world, buy a new house or whatever it is that you want to do if you had heaps of money.
FREE EVENT: Perfect if you’re just starting out
If you’re completely new to all of this and just starting out, I would recommend that you first join the upcoming LIVE training sessions before doing anything. I’ve organised 7 of the world’s best marketers to share their top secrets, that you, as a beginner, can get started right away to make 2021 your best year yet. This will be the biggest marketing event of 2021.
Click here to join the LIVE event!
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