HOW TO START AN ONLINE BUSINESS - Janesdiary
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4 Steps to An Online Business
4 Steps to An Online Business
3 Minute, 8 Second
HOW TO START AN ONLINE BUSINESS
I don’t blame you because it could be confusing when it comes to starting an online business. There are so many options, so much noise on the internet but for me, I’ll keep is simply fit you.
When it comes to starting an online business, you have two options, it is either you sell a service or you sell a product.
When you sell a service, you are selling your expertise and Skills, but when you sell a product: it could be a digital product like software, ebooks, online training or it could be physical product through a store.
Now when you come to starting a business,  there are three most important questions you need to ask yourself before you do anything.
 
1. Does it have high margins?
Why are high margins so critical? Think about this, if you sell a product for 10 dollars and it cost you 8 dollars to get or to create,  you have two dollars profit margin. That is going to be very challenging when it cones to skilling the business. Why? Because you only get 2 box for each unit to pay for people, traffic source and marketing.
On the other hand if you buy something for 2 box and you sell it for 10 dollars, your profit margin is a lot better, you see business is a game of margin, not volume.
Just because you are doing lots of transaction, does not mean you are making profit. The good concept of buy low and sell high, makes more sense.
That is the first question: Does it has a lot of profit?
 
2. Are my prospects actively looking for solution?
Are your potential prospect, client, and customers actively looking to buy what you have to offer?
Now how do you know, are they actually pro-actively looking to buy what you don’t have to sell? See below What you shouldn’t to do,
✓well I think people will love this:
✓my husband, wife likes it.
That I’ll not do you any good. What you need to ask your self is, are they searching for this type of product online?
If you check the key words; are people searching for this kinds of product: the needs, the solution online?

It is much easier to sell something that people are already looking for.

How to start an online Business
Try to create that demand because there are two type of demands: the existing demand and created demand
It is always easier to create something that has existing demand. You don’t need to convince or tell people why they need it.
They already know why they need it. They are just looking for the best option to buy.
3. Is it on trend
This is the most important question of all. Don’t start selling what trended in 1980, in 2022, it won’t sell. For example, we all know we are in a digital age, imagine you’re selling CD, may be a great CD at that. CD is what people use to listen to songs in this days. This days people listen to songs on YouTube and Mp3, Online.
We don’t buy CD anymore. It is not on trend. You want to sell something that is actually on trend that you know that a lot of people are searching for,  and also has good profit margin. They can buy low and sell high. One of the option you can use is to go to alibaba.com, or some online stores and you can see that there are billions of product that you can choose from

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About Post Author

Janesdiary

I am a highly sought-after personal and business branding coach, marriage and Relationship therapist, a blogger and an entrepreneur. I have been blessed with the opportunity to work with some of Africa's most successful entrepreneurs. My success is as a result of my unrelenting passion for excellence in all that I do. My mission is to help people attain their desired goals by teaching them how to be more confident, better communicators and better decision makers. [email protected]
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By Janesdiary

I am a highly sought-after personal and business branding coach, marriage and Relationship therapist, a blogger and an entrepreneur. I have been blessed with the opportunity to work with some of Africa's most successful entrepreneurs. My success is as a result of my unrelenting passion for excellence in all that I do. My mission is to help people attain their desired goals by teaching them how to be more confident, better communicators and better decision makers. [email protected]

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