What is Business?
According to google, a business is a person's regular occupation, profession or trade. It can also be reffered to as a commercial activity in terms of trading, buying and selling, marketing, merchandising and many more.
According to business dictionary, a business is also an organization or economic system where goods and services are exchanged for one another or for money. It can be privately owned or not for profit making that is government owned. It is important to note that whether your business in online or not, a business requires some form of investment and enough customers to whom its ouput can be sold to.
Types of Business
The different types of business we have are:
1) Sole Proprietorship, which is the most common type of business to establish.
2) Limited Liability Company
3) Cooperative
4) Corporation
5) Patnership
But for the sake of our topic, we won't be going into details of the different types of business we have as they don't imply when someone wants to start an Internet business.
I know that the Initial Capital needed to start a business is always a problem but in starting an online business, you might be limited to a strict budget when you want to start, but that doesn't mean you don't have any options as it is possible to start a business with very little or no money,if you have the right combination of skills, work ethic and marketing know-how.
In starting an online business, you will be need to do the following:
1. Find a need and fill it up:
The question here should be what does the market want or need and before this question can be answered you must first identify your market of choice which could be any one of these: men's baskeball league, Educational leaders, Football league, day to day activity, hobbies and so on. make a list of your potential markets based on what you are currently interested and participating in. If you have nothing, then make a list of things you’d like to try and go start trying a couple. This will slow things down for you, but ultimately it will help you understand the true needs of a given group.
2. Write copy that sells
Let's assume you are among those who don't have money to start an onlines business or the conventional type. One way to start a business with little or no startup capital is to sell your services, instead of a physical product. It's also useful to have a website to show examples of your work, list your experience and blog about your industry to draw visitors.
There is a proven sales copy formula that takes visitors through the selling process from the moment they arrive to the moment they make a purchase.
A. Arouse interest with a compelling headline.
B. Describe the problem your product solves.
C. Establish your credibility as a solver of this problem.
D. Add testimonials from people who have used your product.
E. Talk about the product and how it benefits the user.
F. Make an offer.
G. Make a strong guarantee.
H. Create urgency
I. Ask for the sale.
Throughout your copy, you need to focus on how your product or service is uniquely able solve people's problems or make their lives better. Think like a customer and ask "What's in it for me?"
3. Design and build an easy-to-use website.
Already mentioned in point 2. Get your self a website whether small or big. It does not matter. With the website on, it now shows your readiness for the business. Keep your website simple.
4. Use search engines to drive traffic to the site.
Every website built that does not have a traffic to it is as good as not existing.
5. Establish an expert reputation for your self
Create articles, videos, give away free expert content. Become an active expert in industry forums and social network sites where your target market hangs out and by so doing you will reach new readers. Every site that post your content will link back to yours.
6. Follow up with your customers and subscribe with email.
Build an opt-in list, follow up your customers with the power of email marketting as your customers would have given you permission to send them mail.
7. Increase your income through back end sales and upselling.
Note that while understanding your target market is essential and doing research is important and it is important to not overthink it. You must develop a winners mindset
No comments:
Post a Comment