The set up costs of starting an online business are considerably lower than starting a conventional business. You don’t need to pay rent for a physical building, wages for staffing and buy expensive inventory and equipment. But is it all plain sailing?
Here are 5 important facts you should know about starting an online business:
1. You Will Need To Sell Something
It might sound obvious, but when you are starting an online business you will need something to sell. It can be a physical product that is actually delivered to somebody’s front door or a digital product that the buyer downloads to their computer and can use as soon as they have purchased it.
You can create your own product or you can sell somebody else’s product and earn a commission on what you sell.
2. You Need To Be Enthusiastic About Your Business
Whatever it is that you sell you need to be passionate about it. The business that you choose to be in should be something that you know you’ll be interested in for a long time and be willing to accept that not everything will always go according to plan.
If you’re willing to quickly give it all up at the first hurdle your online business ideas will never become profitable.
3. You Must Resolve A Problem Or Make Something Easier
You must have a clear focus on your target market and how your product or service will benefit them, resolve a problem for them or make their life easier. Before you commit time, resources or money in a product or service make sure that someone wants it!
4. You Will Have To Automate Some Tasks
Your online business can operate 24/7 but this does not mean that you have to sit in front of your computer all the time. There are many different software programs that will do tasks for you.
The first to consider is an email autoresponder. It allows you to instantly respond to enquires at any time of the day or night, attract new customers, keep and build relationships with existing ones and up-sell or cross-sell your products and services, even while you are asleep!
5. You Will Need To Build A List Of Customers
If you ask any successful online entrepreneur what is the most important element of online business, he or she will always mention the task of building a list of customers.
The reason is that when somebody visits your website or sales pages it is doubtful that they will buy from you there and then. Therefore, by obtaining their email address, often in exchange for something of value for free (like and eBook, report or video), you can remain in contact with them via email. Statistically, a prospect has to see your messages 7 times before they will commit to buying.
Regardless of your age, education or technical skills there are no specific requirements for being a successful online entrepreneur.
Article Source: http://EzineArticles.com/?expert=Jon_Allo
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