How to Start an Online Business With These 10 Tips

There are many different ways to follow your entrepreneurship goals, explore, and learn about new business opportunities. Creating an online business or online boutique is one of them. It may feel a little scary and overwhelming at times, but you’re not alone.

Check out this blog from PixieLane for tips and tricks to creating an online business.

Pick a Business You’re Passionate About

Building a business takes time and energy, so you want to make sure you’ll stay motivated and engaged, even on the challenging days. When you pick a business you’re passionate about, it’s easier to follow through and find new ways to build and grow.

You’ll enjoy doing research and come up with creative projects and ideas, so it’s always a good idea to pick an internet business that you’re passionate about.

Make Sure There’s a Market Need

Before you begin building your online business or launching your online boutique, you want to make sure that there’s a market need. That means finding out if there’s an audience, what kind of competitors are already on the market, and how you can stand out from existing companies.

When you know this information early on, it will help you to grow and succeed in the future. Look for a unique niche that makes your inventory stand out.

Write Your Business Plan

A business plan serves many purposes. Not only will it help to give you legitimacy as you make potential connections and meet with future team members, but a business structure will also give you a guide for growing your company, so you don’t have to make it up as you go along.

A business plan will include features like objectives, market research, an operations plan, and a competitive analysis. Business plans will vary depending on your type of business.

In terms of planning your eCommerce business, make sure to get your legal ducks in a row. Think of a memorable business name (one that can translate to a good domain name). Find out what kind of licenses or permits you will need. These can differ depending on what your business is (partnership, sole proprietorship, or LLC). 

Plot Out Your First Year’s Expenses

Businesses cost money, especially when you’re just getting started. It may be a little overwhelming, but the more you know about startup costs and expenses, the easier it will be to plan out your needs and make adjustments.

Consider the costs of products, advertising, software, any employees you might be bringing on, and anything else that might contribute to your first year’s expenses. It’s better to overshoot your costs and have money left over than the other way around.

Build a Network

You actually want to begin building your network before you even launch your business. When you surround yourself with like-minded professional individuals in similar positions, you’ll be able to learn and share resources on online business ideas.

You’ll also be able to coach one another and keep each other motivated and engaged. This will help you continue following your dreams even on the most challenging workdays.

Determine Your Target Audience

There are many reasons it’s important to learn about your audience, even before you begin launching your business. Determining your target audience will allow you to decide if you have a viable business idea before you begin, so you can make any necessary adjustments before you launch.

It’s also important to learn about your target audience because it will help you to market to them and connect with them at events. This will ensure your resources are being used effectively and that you can continue to grow your business.

Pick Your eCommerce Platform Wisely

There are a lot of different options when it comes to your eCommerce platform. It’s going to be the core foundation of your business, so you want to make sure that you’re picking the best option for your selling needs.

You want an eCommerce platform that is secure and easy to navigate, with a comfortable UX (user experience) and good options for SEO and searchability. It’s also important for your eCommerce platform to have good mobile access, so your fans and customers can purchase your goods and content on the go.

Harness the Power of Social Media Accounts

Social media is a really important tool when building your business, especially if you have limited financial resources in the beginning. It’s a great way to meet customers, build a community, and share new and upcoming products that might be available in your online boutique.

You can do this by building an online VIP group, growing your Instagram account with professional photographers and personal interactions. Connect with similar businesses to promote and share with each other. 

Regularly updating your Facebook, YouTube Channel, and friendly email marketing goes a long way for small business owners.

Understand Search Engine Optimization

Search engine optimization, also known as SEO, is a way to boost the visibility of your website through commonly searched terms and phrases. Essentially, it optimizes keywords to bring more traffic and clicks to your site so that you can share your products and content with new and returning customers.

Websites with higher rankings will have a stronger online presence. The more you understand about SEO and SEO marketing, the easier it will be to take advantage of this tool and continue growing your business.

Create Repeat Customers

For a successful online business, it’s always important to be bringing in new customers. However, don’t forget about the ones that you already have. When you forge strong relationships with current customers and create an open dialogue, they’ll continue coming back to purchase new products and content in the future.

It’s also about how you make your customers feel when you interact with them. When customers have a good experience with your business, they’ll want to return again and again to both support you and get that same great feeling buying products they love.

Be an Online Entrepreneur

There are many exciting and wonderful things about starting a business, and with a little resourcefulness, creativity, and an internet connection, you can see success on your terms.

PixieLane can help. We share the products we love and the tools new business owners need to get started and take the next step to perfect their side hustle. Explore our consultant program today and be your own boss tomorrow. 

 

Sources:

Write Your Business Plan | U.S. Small Business Administration

How to Define Your Target Market | Inc.

Apply for licenses and permits | U.S. Small Business Administration

The Secret to Getting Repeat Customers | Entrepreneur