How to Build an Online Business from the Ground Up
If you’ve been looking for a sign that it's time to be your own boss, this is it. Despite the rocky road that has been the U.S. economy in the time of COVID, a report at CO indicates that now is actually the best time to start your own online business. This is primarily due to the surge of online shopping, as well as the release of stimulus package over the course of the last 18 months or so.
What's more, a recent survey from human resources platform Gusto showed that 49% of all businesses opened in 2020 were led by women. So, if you’re an industrious and entrepreneurial woman who's been dreaming of opening your own online business, it's time to strike while the iron's hot!
Here's how you can go about it:
1. Find something you’re passionate about
A great many failed businesses collapse due to a lack of passion. All the entrepreneurial sense in the world can only take you so far if you don't love what you're doing. So before anything else, determine what you want to offer, and what sort of project you'll be truly passionate about. Are you an avid vintage shopper? Are you interested in making polymer jewelry? Maybe you have a special touch with decorative crafts. Whatever the chance, launching your own online business is first and foremost a chance to share your passion with purpose. When you’re selling something you believe in, you're also putting your heart and soul into it. This sets you apart from online businesses that are just in it for the money, and that tends to make a meaningful difference over time.
2. Social selling or eCommerce? Find your platform
You may think it’s best to have multiple sales channels. But unless you’ve got a dedicated team with you, that’s likely biting off more than you can chew in the early going. Instead, find a platform that you’re comfortable on that complements your product or service. If you’re savvier on social media, and you think your products will perform well there, then join the world of social selling! These days, platforms like Facebook and Instagram among a few others support countless successful businesses that operate mostly or entirely through social channels. Otherwise, if you’d prefer to have a little more assistance in terms of setting up your account and managing customer interactions, then you might opt for an eCommerce platform. On this front you have a few distinct options as well, as the guides on AskMoney suggest Shopify is perhaps the top option. It's a tried-and-tested eCommerce site with low startup rates, an accessible interface, and customizable store templates. If you’re not confident with your tech skills, an option like this is more sustainable and secure for you.
3. Take time to network—social network, that is
Regardless of what platform you choose to sell on, you must have a social media presence. In the age of likes, shares, and influencers, having a social media account for your business is an inexpensive yet effective way to gain credibility and engagement. This account will be where you connect directly with your market. And remember, this is your chance to start a genuine community — so make it count! As we previously shared in a post on ‘3 Easy Steps’ to improving your social media presence, the best way to do this is by becoming a source of relevant and positive information. Even when the content you share doesn't explicitly have to do with your business, go ahead and put it out there (within reason). Your followers will appreciate the humanity and transparency, not to mention the sense of personality your activity lends your business. Then, the next time you do post about your brand, they’re more likely to be attentive and supportive.
4. Keep the customer journey sweet and simple
Who here has felt personally victimized by over-complicated checkouts? Okay, so that's a bit much, but we’ve all been there. And often enough, that kind of sentiment results in a canceled transaction and a mental note to not buy from the store at hand again. To that point, the news and business publication Forbes wrote this year that 87% of "cart abandonment" is due to complicated online shopping processes — especially at checkouts. To avoid running into this problem from the business side of the equation, be sure to create a customer journey that you would like. Pertinent details (price, fees, description, etc.) should be readily visible, and the checkout process should concern only information that is strictly necessary. The fewer pages and clicks your customer has to go through to complete a transaction, and the less clutter he or she has to read through, the better. Less is more in the online customer journey.
Starting an online business is not easy. But nothing good ever is! With a little elbow grease, some creativity, and a lot of perseverance, your efforts will pay off beautifully. And again, now's the time to give it a try. We hope this post will help you get off on the right foot, and please feel free to visit us at Babe Crafted again in the future for more information on how to be a boss babe!
