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Top 5 Advantages of Starting Your Business Online

Starting a business is risky. It’s the reason why everyone doesn’t have one. It can require thousands of dollars of investment just to get off the ground. 9 out of 10 of all new businesses fail in the first year. Before any profit is made, things like product inventory, incorporation, advertising, employees, accounting, insurance, licenses, commercial space etc. have to be paid for.

Enter the internet..

The digital world has taken away a lot of the risk of starting the business of your dreams. There are still start-up expenses involved in the beginning but they are not nearly as high as starting a brick and mortar business. License and incorporation fees are going to have to be paid online or offline but most of the other expenses can be avoided in the early stages by starting with your online presence.

If it can be sold in a store it can be bought online and shipped to the customer’s home. At the very least it will add an additional revenue stream for the business. There are plenty of advantages to starting a business online but here are my top five.

1. There is no immediate need for full-time in-house employees.

What makes online business so powerful is its scalability; meaning you do a little bit of work for a greater result. With automation tools you can have a lot of your tedious data entry tasks done without you even thinking about it. With PayPal you can accept payments online through your website without you even knowing a credit card was entered.

If you are selling digital products that are to be downloaded then there is no need for pre-ordered inventory or commercial space, thus eliminating the cost of rent.

For when you actually need the assistance of a real human, sites like oDesk.com and Elance.com make it possible for you to outsource work to people on a for hire, monthly or even a full-time basis.

Things like insurance and security are needed for online as well as online but securing intellectual property stored online in the cloud is a lot less expensive than doing the same for merchandise in a store that is susceptible to theft or fire

2. You have the freedom to travel.

There is no need for a physical location in most cases so there is no need to stay in one place. If you need to pack up and move your company to another state where there is more opportunity, it can be as simple as packing up your laptop and accessories and leaving. With a physical ‘brick and mortar’ business, it would be a little more difficult to relocate. You will most likely be constrained to whatever lease agreement you may have in place.

As you know, business and tax laws vary from state to state. Having your operation online gives you the freedom to choose where you want your business to be incorporated. You would have to have some sort of address established in the state but it doesn’t have to an actual store. There are a few states who’s laws work best for the traveling internet entrepreneur. *I am not an accountant or a business lawyer so please consult one before getting started.*

3. The whole world has access to what you’ve got to offer.

You aren’t limited to your immediate geographical area anymore. You aren’t limited to ANY geographical area for that matter. Offering your products and services online opens your business offering up to the edges of the world. The internet doesn’t sleep and there are billions of people online looking for solutions to their problems, while YOU are sleeping.

4. You are at the fingertips of a growing online market.

The internet definitely isn’t going anywhere anytime soon as more and more people are gaining access to an internet connection or a smart phone every second. E-commerce is following the same trend as more and more people are becoming comfortable making purchases online and from their mobile devices. From a consumer’s standpoint, making purchases from the comfort of your own home can save you a lot of time, and for certain products, shame or embarrassment.

5. You can inexpensively test your market.

Not every brilliant idea translates into a consumable product or service. And as you know, the failure rate of new businesses is very high. Another advantage of starting a business online is the ability to gauge interest without actually having the product readily available for sale. One example of this that I’ve seen a lot is a preview or ‘beta’ page with a prototype of a product where people can sign up to ‘be the first to know’ when the product is made available. This can be done with a food product, a clothing line, an app, pretty much anything. It’s a great way to gauge interest before you go all in with a final product.

You don’t need $10,000 to start a business anymore..

There are hundreds of ways to make money online and frankly, who can afford NOT to open up shop to the billions of people on the internet. There are still a lot of traditional brick and mortar businesses that are not providing their products and services online, constraining themselves by business hours and management of on premise staff.

All you need is a website, a product or service and consistent potential-buyer traffic to that website. No permits, no city council meetings, no weather constraints and depending on where you live, no off duty police officer.

Recommended reads: ‘The Four Hour Work Week’ & ‘The $100 Startup’

Absolute Must Know First Basic Steps to Start Small Business Online and Be Successful

Starting a small business online can be a great way to go into business for yourself. An online business can be started on a shoestring budget. You can start a small online business and earn a full- or part-time income from home or anywhere in the world. Operating your business exclusively online enables you to complete all transactions, provide customer service, and manage the entire business, all from your computer. There are several steps you can follow when you are starting a small business online. Anyone, from beginner to seasoned online marketer, can benefit tremendously from learning and applying the following steps.

Find a need and fill it

The first thing you need to do is to look for a profitable market. Most beginners look for a product first, and then try to find a market. That is a big mistake and will often lead to failure. To increase your chances of success, you need to start with a market. You need to identify a group of people who are desperately searching for a solution to a problem. There are many Internet resources that make it easy to do this kind of market research.

Start by visiting online forums to find out what people want. Spend some time on various popular forums, and read the posts. Pay attention to what questions people keep asking and what problems they are trying to solve.

Another way to find out what people want to buy is to perform keyword research. There are many online tools that help to do this research. The trick is to find keywords have a huge number of searches but low competing websites.

Once you have found out what people are searching for, you can sell a product that provides solution to their problem. So look for a market that already exists, and then cater to their needs.

Set Up Your Website

You need a website to sell products or services online. Once you have found your market and product, and you have nailed down your selling process, it’s time to set up a website your business. Some people build their own website by using website creation software or readymade templates. There are also web design services, and these services can help you set up a website that is designed to run a successful business online.

Drive Targeted Traffic To Your Small Business Online Website

To make sales, you need to get buyers to your website. Potential customers will not know about your product if they can’t find your website. There are several ways to get your website in front of people who are looking for the product you are selling.

Pay-per-click advertising is the quickest and easiest way to drive targeted traffic to a website. When you use this method, you can start generating immediate traffic. You can also use search engine optimization to rank your website high in the organic search results.

Other methods of generating website traffic include article writing, banner ads, email marketing, and online classified ads. Video marketing is also a great way to distribute information about your website and product. You can also promote your website by participating in social networking sites and forums where your target audience hangs out.

Take Action

Thousands of people have started their one successful businesses by following these steps. Many have amassed great fortunes in their own businesses. And there’s no reason why you cannot do the same. Use these steps to start and grow your own small business online.

Marketing a Business Online Through YouTube

You might want to consider using social media marketing tools in the form of YouTube in marketing a business online. The reason for that is because of the huge transition that has happened over the last couple of years in communicating and interacting. It is an accepted fact that as of now there is a huge transition in how people communicate with each other.

You would have noticed that letters, postcards and the like are on the wane. What is the change then? Communicating through social media tools is a simple way, not only to interact between friends and family, but also to advertise your business. So, what can you do using YouTube?

Well, it allows you to upload clippings, small videos and music videos. As of now a mind boggling 2 billion videos a day are being viewed on a daily basis here. That itself is more than proof that YouTube is the most happening thing in the online marketing community. It must be mentioned here that this article only provides in detail about how marketing a business online is effective through YouTube or social media tools.

You can find information on other online marketing methods on the internet. The second part of the article contains information on other online marketing methods. Though it is given very briefly, you will definitely find it useful. It is also worth mentioning that YouTube has not only become the one and only video content sharing website worldwide, but is the most effective advertising tool in the online business community.

No matter the company size, one and all have the ability to share unique videos that are informative. YouTube can help your company target a wide range of international audience. Online marketing is all about reaching to far ends where traditional marketing methods can’t excel.

So, when you use YouTube as your advertising campaign tool, it can benefit marketing a business online immensely.

However, an effective video campaign on YouTube needs some key ingredients:

Keywords: There is no doubt that keywords play an important role for viewers to find your video or clippings. YouTube users search videos using keywords depending on their area of interest. It also depends on the products or services that they are on the look out for.

So, you must make sure that your video clipping has proper keywords. If it doesn’t then it will most likely not be displayed during search results. Having the right keywords tagged along with the clipping is an important factor while marketing a business online. You obviously want your video to be accessed easily by viewers.

Quality of your video: It is another story when you are uploading a video for fun. But, when you are uploading a video on your business, you must display a certain amount of professionalism. You must have the business sense to ensure that your video displays to others that your company is a professional one. Before you load your video, take some time to observe the lighting, sound quality, and the words that are used.

Video with some humor: You would have noticed that videos that have good humor tend to make it big on the internet. Sure, your audience expects the video clipping to have informative stuff, but at the same time they like to also be entertained. It can be a very boring experience merely watching a video about a company.

You can easily recollect videos that are unique in their humor and have good stuff. Similarly, when your video clipping has some quality humor, your audience would keep coming back to view it and refer it to others too. So, when your video is humorous and worth remembering, then you can be rest assured that the clipping could become a hit on the internet.

The best part about marketing a business online is that, the mentioned above methods are extremely useful in helping your website get the ranking that it wants. It is not that one particular method only can help your website increase its website rankings. The mentioned above steps can definitely help you market your business online.

You will find the given below tips useful on marketing a business online, especially if you have started a new business and don’t have much knowledge on online marketing methods.

Many ways to market your small business: Like we have seen above, the most powerful method to gain popularity on the internet is YouTube or through social media tools. But you also have other method of marketing a business online in the form of search engine optimization, search engine marketing, article marketing, email marketing, and the list goes on.

Can compete with large companies: As you have started out recently and are a small firm your immediate goal would be to attract customers of bigger firms. You have to fight it out there using internet marketing methods that are mentioned above. You must have excellent online marketing strategies that can get you the results.

You will have to work on your brand awareness. This is a key point for any small business.

Finally, remember to have some patience. This is not an overnight procedure. Sure, marketing a business online using social media tools and the like will make a huge difference, but you must realize that it is slow but steady process. You would want to stay out of advertisers who claim to give you immediate results.

It is not really possible and in some cases it may even take a year to notice good results. So, have fun while learning marketing a business online.