There are seven key pillars that will guarantee success when starting an online business from scratch: These seven pillars provide a foundation for any successful online business.
Your product or service is also crucial to your success. You need to make sure that it’s high quality and that it meets the needs of your target market. If your product or service is inferior and doesn’t stand out, it will be difficult to succeed.
These seven pillars include:
- A great idea
- A well-designed website
- A clear marketing strategy
- Robust financial plan
- A strong social media presence
- A commitment to customer service
- and a dedication to continuous improvement.
By focusing on these key areas, you can give your business the best chance for success. Without all seven of these elements in place, it will be difficult to build a sustainable, profitable business.
If you’re just starting out, you may not have all of these elements fully developed yet. That’s okay! The important thing is to focus on the areas that are most important to your business now, and start from there.
As you grow and evolve, you can always implement the other key areas. Any business, whether online or offline, is built on the same foundation: offering something of value to potential customers or clients to achieve their desired results.
Let’s take a closer look at the seven key components that make up this foundation.
Picking a great idea
When starting an online business from scratch, having a great idea is essential for success. Your idea should be something that solves a problem or fills a need that people have.
It should be unique and innovative, and something that you are passionate about. Once you have a great idea, you need to put in the hard work to make it a reality.
Research your idea, build a strong business plan, and get ready to hustle. If you do all of this, your online business will have a much better chance of success.
Some great ideas for online business startups include:
#1 Create a niche online marketplace:
A niche online marketplace can be a great way to build a business. You’ll be able to tap into a specific market and cater to the needs of that market. If you’re looking to start a business, a niche online marketplace can be a great way to do it.
You’ll be able to tap into a specific market and cater to the needs of that market, which can be a great way to build a loyal customer base. Plus, with a niche marketplace, you’ll be able to stand out from the competition more easily.
To create a niche online marketplace, you’ll need to identify a group of consumers who have a shared need or interest. Then, you’ll need to create a platform that meets their needs. This can be done by creating a website or an app that provides a unique and convenient way for them to connect with one another and find the products or services they’re looking for.
Once you’ve built your marketplace, you’ll need to promote it to your target market. But how?
Here are some ideas:
- Create a landing page- A landing page is a single page on your website that is designed to capture a visitor’s attention and persuade them to take a specific action, such as signing up for your email list or buying a product.
- Start a blog- A blog is a great way to share your thoughts and expertise with the world. Not only will it help you attract new customers, but it will also help you build credibility and trust. Blogging is a great way to attract new visitors to your website and build a relationship with your target market.
- Run ads- Ads can be a great way to reach a large number of people in your target market. Just be sure to test different ad campaigns to find out what works best for your business and be prepared to adjust your budget as needed.
- Get listed in directories- There are many online and offline directories that list businesses in specific industries. Getting listed in these directories can help you reach new customers who are looking for businesses like yours.
- Participate in forums & Trade events- Forums and trade fair events are a great way to connect with potential customers and build relationships. By participating in relevant forums, you can show your expertise, in the aspect of marketplace solutions and build trust with potential customers.
- Offer a free trial to your marketplace platform to attract new vendors. This will give them a chance to see how easy and beneficial it is to use your platform, and hopefully convince them to sign up for a paid subscription. Plus, it’s a great way to get new vendors on board and get them started selling their products or services.
#2 Start an online coaching or consulting business:
Starting online coaching or consulting business can be a great way to make money while helping others achieve their goals. But where do you start?
Many years ago, when I was just starting out in the online business space, my sole aim was to share my experience, mistakes, and all the lessons I had learned. I wanted to help others avoid the same pitfalls I had encountered.
I soon realized, however, that there was a much bigger opportunity here. Not only could I help others avoid making the same mistakes I had made, but I could also show them how to build a successful online business from scratch. And that’s what I set out to do.
If you’re thinking of starting online coaching or consulting business, here are a few tips to get you started.
1. What are your strengths?
Figure out what you’re good at and what you can offer others that they can’t find elsewhere. You have a unique set of skills, experiences, and talents that make you who you are. Use these to your advantage to stand out from the crowd and offer something that nobody else can. for example, by writing about a topic you’re passionate about or sharing your valuable insights on a particular subject.
2. What are your unique selling points? Why should people work with you?
Some unique selling points that you have to offer could be your ability to be very organized and your attention to detail. Perhaps you have a lot of experience with customer service and really enjoy helping people? Whatever your unique selling points are, highlight them and let potential clients know why they should work with you!
3. Be clear about what you want to achieve. What are your goals?
If you don’t know what your goals are, how can you expect to achieve anything? Be clear about what you want to achieve, both for yourself and for your clients. Only then can you begin to work towards achieving those goals.
4. Think about what you can realistically achieve in the short and long term
Consider your goals and what you need to do to achieve them. Make a plan and work towards your goals little by little. Don’t try to do too much at once or you may become overwhelmed and give up. Take things one step at a time and you’ll eventually reach your set target.
6. Set some achievable goals and targets.
For example, aim to help your set customer segment to achieve a small goal by breaking the focus specifically on this goal. By doing this, you can not only improve customer satisfaction but also increase brand loyalty and sales.
7. Plan your content and activities in advance.
This will help you determine what topics you need to cover and what activities you need to do in order to complete your project. What are your goals for each activity? How will you engage your students in the content?
What topics can you cover effortlessly? This is where customer research comes in, what problems do your customer segments want to be solved? With customer questioners, keyword research etc you would gain a deep insight into your customers’ pain points and how you can provide solutions for them.
8. What resources will you need in order to complete this task?
Do you have everything you need? If not, what do you need to acquire? Assuming you have a computer and internet connection, you will need to find a reliable source for information on your topic.
You will also need to take time to read and understand the material you find. In order to write a paper, blog post or premium courses that are both informative and well-received, you will need to choose a format and gather any necessary citations. If you are planning to sell products or services online, you will also need to acquire a specialized CMS platform like WordPress, and plugins like FluentCRM and woo-commerce for managing leads, sales and membership on your website.
9. What format will your content take?
Will it be a blog post, video, infographic, a downloadable PDF format or something else? There are many choices when it comes to content format, and the best one for you depends on your goals and objectives. If you want to generate leads, for example, a downloadable PDF might be the best option. If you want to build brand awareness, a video might be the better choice. The important thing is to choose a format that will allow you to achieve your objectives.
10. Who is your target audience?
This is an important question to consider when creating any type of content. Whether you’re writing an article, designing a website, or creating a marketing campaign, it’s important to know who your target audience is. This will help you to create content that appeals to them and that they will actually want to consume.
So, who is your target audience? Take some time to think about this and consider who you want to reach with your content. Once you know who your target audience is, you can start creating content that is tailored to them.
#3 Develop an innovative new app:
Developing an innovative new app is an exciting and challenging process. It requires a lot of creative thinking and hard work to come up with a new idea that people will actually want to use.
But it can be done! If you have a great idea for an app, don’t be afraid to put in the work to make it a reality.
#4 Start a software-as-a-service business (SAAS)
Starting a Saas business can be a great way to get your business online and in front of customers quickly. However, there are a few things to keep in mind when starting a Saas business.
First, you will need to create a platform or website for your business. This will be the foundation for everything else you do with your business. Once you have a platform, you will need to create and launch your product.
There are many pros and cons to starting a Saas business as a beginner. On the positive side, Saas businesses have low startup costs and can be run entirely online. They are also relatively easy to scale up and can be very profitable.
On the downside, Saas businesses can be very complex and require a lot of marketing to be successful. They can also be difficult to break into if you don’t have a strong technical background.
#5 Become an Affiliate marketer/brand influencer
There are many ways to become an affiliate marketer or brand influencer.
You can start your own affiliate marketing business by finding a niche market and then finding products or services to promote. You can also join an affiliate marketing network such as Commission Junction or ShareASale.
Another way to become an affiliate marketer is to work with a brand that has an affiliate program. Brand influencers are usually social media influencers who promote products or services on behalf of a brand. Either way, you’ll help promote products and services that you believe in.
As an affiliate marketer, you can earn a commission on sales that you generate, and as a brand influencer, you can help to shape the way that products and services are marketed. Both roles can be extremely rewarding, so find the one that best suits your skills and interests.
Whatever you choose to do, be sure to put your own unique spin on it and really stand out from the crowd. With so many businesses competing for attention online, you’ll need to make sure your offering is truly special.
Develop a clear marketing strategy
A clear marketing strategy is essential for any business that wants to succeed. Without a plan, it can be difficult to know what steps to take to reach your target audience and achieve your desired results.
However, developing a marketing strategy doesn’t have to be complicated or time-consuming. By following a few simple steps, you can create a plan that will help you achieve your marketing goals.
Here are a few tips to get you started:
1. Define your goals. Before you can create a marketing strategy, you need to know what you’re trying to achieve. What are your business goals? What do you want to accomplish with your marketing efforts? By clearly defining your goals, you can create a marketing strategy that will help you achieve them. Without goals, your marketing efforts will be aimless and are unlikely to be successful.
2. Define your target market. A target market is a defined group of people that an organization can influence and whose needs can be met. The needs of these defined groups must be satisfied in order for an organization to succeed.
3. Identify your unique selling proposition – Unique selling proposition (USP) is your personal mission statement, your elevator pitch and your elevator speech all rolled into one. It tells your prospects who you are, what you do and why you are better than your competitors.
4. Develop your marketing mix- This includes the combination of the four primary marketing elements. They are :
- Product– This is the actual physical product/service being offered by the company in exchange for revenue.
- Pricing– Price of the product or service. This usually varies according to the current market demand for your offering type.
- Place– This is where the product is sold. In your case, this will usually be via online; leveraging of an e-commerce sales funnel.
- Promotion– This is the combination of marketing techniques used by the company to appeal to the customers with your product offer until they make a purchase. By using a promotion, businesses can target their advertising and marketing efforts to a specific group of people, which can result in increased sales and profits.
Create a well-planned out website
There are some unique aspects to an online business that you need to be aware of. For one, you need to have a strong online presence in order to attract customers. This means having a well-designed website and active social media accounts.
Your website is your shop window to the world, so make sure it is professional, user-friendly and easy on the eye. Include clear calls to action, engaging visuals and easy navigation. Clear and concise content: Make sure your contact information is clearly displayed, so visitors can contact you easily.
Ideally, your website’s about page should give a clear and concise overview of what your business is all about. It should tell visitors what you do, what you offer, and what makes you unique. Your website’s About Page is the perfect place to share information about your business. It’s also a great place to share your story, and connect with your audience on a personal level.
An awful website will not encourage a user to explore your service or product. Your website should be informative and user-friendly. It should provide information about your company, products, promotions, offers, etc.
Ultimately, your goal is to give visitors a snapshot of who you are and what you do, so they can decide if they want to do business with you.
Build A Strong Brand
A strong brand is essential for any business, especially for businesses that are looking to scale and grow. A strong brand can help you attract new customers and keep existing customers loyal.
It can also help you charge premium prices for your products or services. So if you’re looking to take your business to the next level, investing in a strong brand is a wise move.
How to build a strong brand
There’s no one-size-fits-all answer to this question, as the steps you’ll need to take to build a strong brand from scratch will vary depending on your niche, target audience, and overall business goals.
However, there are some basic principles you can follow to help ensure your brand is strong and successful:
#1. Research your competition.
What are they doing well? What could you do better?
It is important to spend time researching your industry (your competition and target market inclusive). This will help you to understand the landscape and what it takes to be successful.
#2. Define your brand.
What are your core values and messaging? What makes your brand unique?
Once you have a good understanding of the landscape, you can start to develop a clear brand identity.
#3. Create a comprehensive marketing strategy.
How will you reach your target audience? What channels will you use?
#4. Execute flawlessly.
Make sure every touchpoint with your brand is executed flawlessly. This means paying attention to detail and making sure that every customer interaction is positive and in line with your brand identity.
Be consistent with your branding (This should include a strong name, logo, and tagline) and messaging across all channels. Evaluate your results and make adjustments as needed.
#6. Get social
Social media is a great way to connect with potential customers and build up your brand. Create accounts on Twitter, Facebook and LinkedIn, and start sharing your content. You can also join relevant online communities and forums to get involved in the conversation and connect with potential customers.
Provide excellent customer service
Customer service is one of the most important aspects of owning an online business. Without happy customers, you won’t have a successful business for long.
Here are a few tips for providing excellent customer service, starting from scratch:
- Respond to customer inquiries promptly. If a customer contacts you with a question or complaint, respond as soon as possible. The sooner you can address the issue, the better.
- Be professional and courteous. Always maintain a professional attitude when dealing with customers, even if they are angry or upset. Show them that you are willing to help and resolve the issue.
- Take responsibility for your actions. If you make a mistake, own up to it and apologize. Customers will appreciate your honesty and will be more likely to forgive a mistake if you are upfront about it.
- Be patient. Dealing with customers can be challenging, but it is important to remain calm and patient. If a customer is angry or upset, try to understand their perspective and see if there is anything you can do to help.
Don’t take it personally, and remember that most people are just trying to get through their day. With a little patience and understanding, you can usually diffuse any situation.
Dedication to continuous improvement
This is what separates successful online businesses from also-rans. It’s not enough to simply have a great idea – you need to be constantly looking for ways to improve your online presence and make your business more efficient and effective.
Here are some tips :
#1. Take a step back and assess what’s working and what’s not. This is crucial for any business, but it’s especially important in the fast-paced world of online business. Make sure you’re constantly evaluating your performance and looking for areas where you can improve.
#2. Set specific goals for improvement and track your progress over time. This will help you to see the areas where you’re making progress and the areas where you need to continue to work.
#3. Stay flexible and be willing to change your approach if something isn’t working. In the online world, things are constantly changing and you need to be able to adapt to stay ahead of the competition.
#4. Keep your finger on the pulse of the latest news, trends, and happenings in your industry to ensure that your business is always ahead of the curve. This way, you can make sure that your products or services are always in demand and that you are always ahead of your competition.
#5. Lastly, don’t forget to keep your customers happy. This is the most important thing to remember in business. If your customers are happy, they will keep coming back to you and they will tell their friends about you.
I believe you should now have a better understanding of how to approach your online business towards success. These 7 pillars are important to focus on if you want to create a successful online business.
However, remember that there is no one-size-fits-all solution and what works for one may not work for another. Take the time to tailor your approach to your specific business and goals to maximize your chances for success.
With that said, I wish you the best of luck in your online business ventures! Stay creative, be flexible and most importantly, don’t give up!