After our unpleasant experience last week we want to once again turn our attention to providing you with practical and useable tips to help you run your your online business with much success. We are indeed happy that those who tried to bring down this blog have failed for I sincerely believe that someone must have tried some backhand tactics on this blog. Any way let’s put that behind us and move forward!
Have you noticed that many more people these days desire to be their own bosses? And do you know that many of these have found comfort in the internet?
That indeed is the fact.
Unfortunately, many of these are discovering that as much as the idea of starting a profitable business online looks attractive, the reality is far from what they dreamed of. The truth is there is so much you need to do to keep your online business afloat. Though this is contrary of course to the picture we were made to believe when we started!
In this article I want to reveal some insider tips that will help the aspiring internet business entrepreneur to, not only get their business off the ground, but also build an enduring business empire online.
Every business entrepreneur who has ventured into building a business in the real world will readily confirm that the two biggest factors that put many off starting their own businesses are money and the risk involved. Starting even a small business takes a fair amount of money. You need a space to run the business, you need to purchase stock and equipment and of course pay for other expenses like advertising. And all of these require money. Those who are lucky enough to get the capital to start face yet the big challenge of risk. This one is so big that it has stopped many from even starting. With business statistics showing that nearly 90% of all small businesses fail in the first year many are never ready to take the risk. Of course the risk does not stop there as you’ll need to put in years of labor both of time and invested money to build up the business. And this, most times, could be anywhere from 5-7 years before any significant profit is seen. Unfortunately not many of us will want to wait that long.
This is why the idea of starting and building a business online is such an attractive offer to many of us.
It must be noted however that, though building a business online involve little or no cost and less risk to you, you must understand that what you put in will determine the reward you receive. Besides, there are challenges involved. Unlike what you may have heard before you’ll have to work very hard to build up your online business. You must get it into your mind that there are no “sure-fire” ways to success online but there are some good tips that you can follow to make your success possible. The truth is it is down to you and how much you want to put in.
This being said, I want to offer the following online business success tips which have been proven to be effective no matter the business model you choose to pursue online.
Online Business Success Tips
1. Choose Something Familiar
The internet is replete with different business models and programs that promise you the moon. However, to get started you may want to choose something that you are familiar with. Choose the product or service you want to market online with care. Of course, this product or service may not be the hottest thing on the market right now, but the good point is that you will come off more confident and sincere with something you know and believe in. you must understand that choosing something familiar has a lot of advantages. For example, working with something familiar will give you some experience which will help you when creating your business site. You will be more able to bring in your personality and creativity when you’re treading on a familiar turf. Trying to create a business site around something you know little about will soon turn out to be a boring and tedious experience.
2. Identify the Demand
Of course, this is the golden rule of succeeding in every business. Not minding the point above about choosing what you’re familiar with, you must check out the demand of any product or service you want to market or sell online. If you desire to build an enduring and a long term business, you must stay away from trendy items. These may sell like mad one minute but you’ll be giving them away the next. You should build your business around something that you know people want and need. That way your long term sales objectives will be met.
3. Don’t Limit Yourself to Just One Product
This may sound a little out of place but the truth is that if you want to build a business online that will still be there years to come then you need to note this very well. It is a confirmed fact in business that those who purchased from you in the past are more open to buy from you again. Now if you’re offering just one product, how do you expect these ones to come back for that same product? Because of this and other reasons you should offer a variety of products. These may be your own products or affiliate products which you promote to earn a commission. What you should note however is that these products should be related and complement each other. This way, some could be offered as front ends and others as back ends.
4. Set Your Business Apart
One very important business success strategy that the savvy entrepreneur takes seriously is your unique selling position. This simply means what makes what you offer better or stand out from others. It’s about everything your business offer that sets you apart from the competition. This could be your product/service or your peculiar way of delivery it to the customer. Besides, in trying to present you unique selling position, you should always use tact when talking about your competition. Putting them down or being rude will only backfire on you. Talk up the advantages that you offer and leave it at that.
5. Ensure Fast and Efficient Service to Your Clients
The world of online business is a fast paced one indeed. The distance between you and your competition is a click away! Word of mouse travels fast and what you do to one customer could spread over the web in a matter of seconds – thanks to the social networking sites! Bearing this in mind you should aim for efficient and fast service when building a business online. However, there will come a time when there is a glitch. In times like this you need to keep your customers informed and aware of what is happening. Things happen that are beyond your control. Most customers are very forgiving if they are made aware of this. Keeping your customers in the dark could result in losing them for good. This is where adding a blog to your business website or offering a newsletter is necessary as you will be able to easily pass across urgent information of this type to your customers.
6. Keep Your Customers Happy
One cliché that has become very familiar in the business world is, the customer is king! And as the king you must be ready to serve him well! Make your customers happy and they will be more likely to come back. You can do this by offering them incentives such as savings on their next purchase. This may cost you more but only in the short term. Besides, keeping your customers happy will result in them referring you to others.
Conclusion: After years of being involved in marketing online, I have come to realize that building a successful business online is not about having a perfect product or service for there is really nothing like that. With much of the risk and cost of starting taken out of the way, what you simply need is to start with something you know and have an interest in. Build a site that is attractive to others and work on satisfying your customer. It is really up you for what you put in will determine what you get out of it.
Over to You: What are some of the challenges you’re facing presently in building your online business? Feel free also to add your own tips that could be of help to those who are just starting out.