These ten factors may not necessarily appear in the same order as listed below, but they are certainly vital to the problem at hand.
HERE ARE THE TEN QUESTIONS TO ASK:
1. What type of online business do I want to participate in?
2. What do I have on offer that is better than my competitors in my niche?
3. Do I need to prepare a business plan for my business?
4. How much will it cost to start my business?
5. Is my business online or BOTH online and offline?
6. Do I need a website dedicated to my business and how much will it cost?
7. How will I market my business online or offline?
8. What is the correct strategy to use to market my business?
9. Am I getting value for money by advertising my business?
10. Am I reaching the right audience with my advertising?
Having a positive answer to all of these questions can only lead you to the next stage of your quest to run an online business.
Get involved in researching the business you want to get involved in and give it a try. Take, for example, the mobile phone industry. Statistics show the total number of mobile phone users worldwide between 2013 and 2019. By 2017, the number of mobile phone users is forecast to reach 4.77 billion. Customers and potential customers use their mobile phones to browse the Internet for Products and Services rather than a laptop or desktop, so it makes sense for business owners to use this technology to market their products and services. This could suggest that there is an opportunity to leverage the mobile application industry to meet the needs of these companies that require mobile applications.
Millions of apps for just about anything you can think of are now in circulation, either for free download or for a fee. You might ask, why don’t I take a piece of the pie and start a mobile app business? The excitement starts, but one must have some kind of knowledge about the entire application design process. This will likely force you to dig deeper into your research on the entire mobile app development aspect. Having established this, my first question is answered; Through study and research, you have made an informed decision to participate in the design and development of mobile applications. But what will you offer that is better than your competitors? This is not an easy question to answer, but to say the least, strive to offer quality products and services to customers and simply make your Products and Services more affordable while maintaining quality.
Starting a business without some kind of business plan is like driving down a very long highway on 1/4 tank of fuel, hoping it will take you to the next service exit. The business plan will give you a breakdown of what you need for the business, although success is not guaranteed as there are a number of opposing factors getting in the way.
There are many companies with little or no initial cost, unlike other companies with a huge initial cost. It also depends on whether your business will be online or offline. You must decide if the business you want to do has a minimal upfront cost.
Setting up an online business doesn’t have to cost an arm and a leg if you take the time to do extensive research on the business you want to get into.
If your business is internet based, advertising it to the right audience can be a huge task. Finding the right sources to advertise your business can be quite challenging and risky, as this is where you can spend huge sums of money to advertise, but get little return on investment if your advertising strategy is wrong.
Advertising a company to a target audience involves a number of factors such as;
1. Google indexing
2. Search engine optimization (SEO)
3. Domain authority (DA)
4. Ranking of pages (PR)
5. Back links
6. Social networks
7. Join forums
8. Blogs
9. Google AdWords
10. Google Analytics
11. Keyword research
Doing all of these things can be demanding and boring, but if you need success in any business, you just have to get on with the task at hand.
Handing over this challenging task to an SEO expert can be quite expensive. If you put in the time and effort, do your research and use the SEO tools available in the market, believe me, you can bring your online business to life without “breaking the bank”.