On this post, which is the first part in the series on how to start online business for beginners, I’m going to simplify the concept of building a business online so someone new to this venture will get a glimpse of it. It’s easy to feel like everyone already understands how to do business and make money online but, really, there are more people not-making money online than those that actually are. Having an online business that generates passive and active income monthly, I’ve learn a couple of things that is worth sharing.
As I’m writing this, I’m thinking of the ideal reader for this post as someone who has been wondering what online business is all about, how it works and how to get started. For the blogging and internet marketing Pros, this may come as basic to online business and internet marketing. However, my primary aim on this post is to help beginners understand the concept of building an income generating business online business, and help you get started right away. This is an action guide, so I hope you’d be ready to make a decision to start an online business or not.
How does online business work?
The concept of online business, though seems different from the conventional way of doing business offline, is similar to any other form of business. You need an idea(s), with thoughtful planning and consistent promotion strategies (there is no shortcut). Building a successful online business is a lot more about genuinely wanting to help people. The better part is that, you can start without an excellent business plan. You can start by testing, experimenting and discovering how best you can be of help to people (your potential clients); thanks to “blogging”. That doesn’t mean you should start haphazardly. It’s easier to get started with the possible end in mind and then freely innovate your ideas are you keep going. There are no rules to it though. I’ve heard some successful internet entrepreneurs say that they started without having a business plan in mind. They just started building an online presence, and along the way, an income generating business emerged. So if you are not sure how to do it, it’s not much of a problem. You can learn along the way. You just have to be willing to start your own thing.
The concepts of Online Business
The concept of online business is about developing an online presence, and promoting/marketing your product. Wondering, what product to promote? Let’s list some possible products you can promote online:
Your existing business (services or products)
If you have a business offline, you create a business platform online (website/blog) and promote your goods and service. That’s doing business online. You use your website/blog to attract potential clients, make them perceive you as the right person to solve their problem and convert them to loyal customers. Sound easy, right? Well, not that easy, and not that complex either.
Your skills and expertise
Is there something you can do that people will be willing to pay for? Like programming skills, designing, personal coaching, consulting, writing, proof-reading, editing, travel advice? Build an online business around your skill or expertise and attract potential clients to do freelance jobs for
Third-Party product (affiliate marketing)
If you have some knowledge about a particular field, you can build a platform to offer free information and advice (while learning more about the subject) and recommend related products from other persons or companies to your readers. When they buy under your recommendation you get paid a commission. That is basically what affiliate marketing is all about (selling other people’s product with a conscience).
Your online business platform as your product:
This is a great way to build a business and earn recurring passive income. Here you build an information or free service website or blog, promote your website (the hard part). As your online platform (website/blog) grows, you monetize it with direct advertising, affiliate or Pay per Click programs (the not so hard part). This involves a long-term business focus to (pre)sell your product (your free service) to the right audience. It involves a lot more marketing and promotion strategy because you need a large amount of traffic (visitors) to earn reasonable income, compared to other business models. It’s about building a brand around your online platform, website or blog, then monetizing your traffic (visitor rate). The interesting part is that you can incorporate other strategies (promoting your expertise, skills, and/or other company’s product) as you keep growing your audience.
Building an online business is a wide topic, that it cannot be covered in one blog post. In my next post, I’ll be discussing further on how to get started with the right business platform and how to maintain your online business. To keep in touch and get hold of my coming posts on how to build an online business Simplified for Beginners, subscribe to Our mailing list here
So far, do you have any questions you want answers to? Or do you have some other ways to simplify the concept of online business for beginners? Let’s talk on comment section below.