Starting Your Dream Business Online 101Starting Your Dream Business Online 101
written byJOHN LIN
12 Essential Frameworks To Structure Your Dream Business Online
This article is about online entrepreneurship—
It is a thinking map for new entrepreneurs who want to start an online business from the get-go successfully.
You know that the world has changed over the last few years if you're an entrepreneur. Today, businesses have to adapt and evolve with the times to succeed. It can be incredibly challenging, but it's also advantageous if you know what to do. I've put together this guide to help you start your own business online and make money through affiliate marketing, a personal business hub, and thrive on deals utilizing the DFY Marketing systems... Because as an entrepreneur, like many of us, you'll need all the help you can get!
No matter what niche you are passionate about. For a new startup to succeed, specific steps need to be thought through before you invest any money. You'll need to tackle every one of them to get an optimum result and bring value to the marketplace. IF your main focus is to serve people in the niche market you are passionate about; you are on the right path.
These 12 essential steps are all equally important, but the starting order can vary for everyone.
#1 Choosing your niche
what topic are you passionate about the most that are monetizable?
Selecting your niche is one of the most important first steps in creating your startup. You’re going to be spending all your time in that niche, so it’s important you love it.
The challenge here is that you can’t just go with what sounds easiest – instead, you have to consider what will be best for your long-term success and happiness.
There are plenty of examples out there of successful startups who know what they want to focus on from day 1:
*Gary Vaynerchuk started Wine Library TV after discovering he could influence customers into buying wine;
*Tiffany, The Budgetnista Aliche, got her start by writing an advice column about saving money;
*Matthew, Mr. Money Mustache, focused on fixing his family’s finances, and then he started talking about it.
How did these people find their focus?
They asked themselves questions like • Who is my ideal customer? • What problems do they struggle with? • What content am I compelled to create or read?
#2 Business idea
As a digital entrepreneur, a business idea is about- what do you know that people want in your passionate topic? Or, what can you do to help others solve a common problem in that topic/niche?
You don't have to invent a product/service yourself. Remember, You focus on finding solutions to a common problem, and there is just about anything you want (products/services) you can find on the internet.
Many successful online entrepreneurs start businesses this way; By introducing great products and services to the market and profiting from their affiliate program.
The more people you help, the more value you bring into the market, and that determines your market value = your income.
Write down 10-20 problems/needs you have in your niche. If others have these problems, chances are an opportunity for a solution. Look up some of your competitors and see what they offer. What's missing? Does anything stand out?
Use Google Trends or SEMrush (spy on your competition) to research if there is any interest in ideas related to yours.
You can even go on Amazon, search for your product idea, and surf through other related products.
If there's enough demand for something like yours, it can be worth building upon!
Also, use Reddit's r/Entrepreneur subreddit for more ideas! There are also many subreddits about specific problems that users post about. For example, How could I get over ____ problem?
Often, entrepreneurs who have just started a business will post on Reddit for feedback, help, and advice from current users who may face similar issues or not understand how their products work.
#3 Funding preparation
As funding for startups is not always available, it is better to prepare early rather than late. If your business is growing fast, you will need it.
Getting startup funding approval from commercial banks is never easy for us- solo digital entrepreneurs. 96% of chance, you're probably not going to get it. To apply for bank funding, you'll need a solid business plan. Also, you'll need collateral for the bank. If those are in place, applying for startup funding may be an option; banks aren't likely to fund you if they're not.
If you have a good credit score (650 and above), private funding experts can help you get startup funding from private lenders, credit card companies, and other private funding sources. You may apply for lines of credit from various funding institutes; these revolving lines give your startup business more capacity and flexibility to do more.
If your credit score is lower than the minimum requirement, a credit-fixing program can help you fix that. It doesn't cost much money, but it will take 2-3 months to see significant improvement.
As entrepreneurs, we must prepare early if funding support is needed because you'll have it covered when businesses grow fast and scale up quickly.
Don't worry if you have a lower credit score now, but it would help if you fixed your credit score before pre-approve any funding application. Prepare early, don't wait until you need money, then you to this matter.
(((Please check out the Startup Funding page if you need any funding support.)))
#4 Gather resources
We need all kinds of help when startups; there are resources and free software trials we can tap into for a test run.
We can have access to thousands of tools, most of which allow you to sign up and try them out risk-free before we decide if it's something that would be useful in our business operation or personal life.
A platform like Harvest can make invoicing clients much more uncomplicated if you're looking for an easier way to track time spent on specific tasks.
Another handy tool for businesses is project management software, like Trello or Asana—both are free to use during limited trial periods (before they require payment).
My co-founder and I used Wistia—the industry leader in video hosting—to build our sites to host videos without paying big bucks.
There are plenty of great options: take advantage of these free trials and see what works best for you!
And remember: if you're not sure about something, ask around! Maybe one of your friends has tried it already? Don't reinvent the wheel unless necessary.
There's more than enough startup wisdom to go around. Learn as much as possible from others' mistakes and successes... that's why we're here right now!
#5 Keywords research
Keywords are essential for SEO Optimization, and Keywords are words people search for on Google and other search engines.
Keywords or Keyword phrases (longtail keywords) are essential for SEO Optimization. This means; it is a "must" step for your audiences who need your product or service to connect with you; your website will appear when someone searches the right keyword or longtail keyword on Google. So Keywords research is one of the essential steps to starting up a new business hub online.
You can use many free keyword tools, such as Google Keyword Planner, Moz Keyword Search Tool, SEMrush Keyword Magic Tool, Rank Tracker, Google Trends, etc. And, there is a hand full of high-ticket SEO Optimization tools and services that are very accurate and sophisticated. But as a startup, I don't suggest spending too much money until you grow the business and the business needs it.
#6 Mentor & online course
Investing in your brain and having someone show you how to pass through the obstacle can shorten the learning curve. A qualified mentor can change your game 180 degrees.
Assuming you are a newbie to the idea of online entrepreneurship, thinking of setting up an online business can overwhelm you. Plus, so many Fake money-making programs online can make it difficult to know where to start.
That's why it is crucial to have a qualified mentor who can point the right direction for us or even guild us through the process step-by-step from start to build to how to convert.
Being an online entrepreneur means we will have a ton of ups and downs on our journey; having someone guide us through challenges will allow us to break through obstacles in record time, no matter what they are.
Remember – If something doesn't work, it's not necessarily something that needs to be thrown out altogether; perhaps reworked or refined is what needs to be done.
Entrepreneurship is all about adaptation, pivoting, and then moving forward– if you can recognize changes when they come around and adjust accordingly, your company will surely succeed.
#7 Business Hub/Brand Site Creation
What is a business hub/brand site?
A business hub/brand site is a domain where you showcase your ideas, products, or services while collaborating with other businesses.
A business hub/brand site is where you can recommend good deals, earn affiliate commissions, Blogging, V-logging, or even start a community with like-minded people.
You will want your business hub at @yourdomain.com; it will be your island on the internet. You can have complete control over it, not like a fan page on Facebook or a blog that dwells on another platform. Because depending on any platform or social media you have no control over is not a smart business move.
If your social media account gets locked or temporarily disabled, your business stops, and so as your business revenue.
It would be best to have your business activity under one domain; therefore, google's AI will learn more about your business and your audiences and rank your site. That is the key for your business to grow and scale up in the future.
*Domain registration- Choosing a domain name is not an easy task but one you need to be very strategic about. You will want something short, catchy, and related to your niche.
*Website building- There are many different types of website builders in the market, each with pros and cons. You can start with just a website, or you can even have a complete e-commerce solution on it.
If you already have a hosting account, you can use WordPress, Wix, Weebly, Squarespace, or other similar platforms to build your site.
You can use e-stage to build your business hub/brand site if you don't have a hosting account. You only need to register a domain name to link your business hub, and it will help you save some cash for other essential things such as marketing & advertising, etc.
#8 Essential business tools and services
Some good online business tools can help make our tasks more manageable save time and money. But, what are the essential tools/services for our online business? Why do we need them?
We can use a variety of tools with a range of benefits. For example, we use one tool for email marketing, another for lead generation, and so on. Choosing tools accordingly to your needs is good, but it’s also important not to overload yourself with too many choices.
Doing that can distract you from focusing on your core tasks and consequently make a severe mistake in managing your time wisely, resulting in losing efficiency; time is money, as they say!
Here are some must-have business tools and services that are monetizable depending on what you want to build.
As for any business to go online, the following services fit in the must-have category.
Domain Registration, Webhosting, Website builder, Email Auto Responder, Webinar hosting, Video content hosting, video editing software or service, logo & art design, Accounting software, SEO optimization solution, CRM solution, funding solution, credit fix... etc.
These are the tools and services that every online business needs and wants to keep the daily operation smooth and stable.
These expenses are inevitable for any business, but we can minimize them by getting discounts or cost-saving offers from these service providers with proper planning.
Better yet, check out their affiliate program to see the income potential of using their product/service and recommend it to your circle of influence.
#9 Create your irresistible offer
What is an irresistible offer, you may ask, especially for people who are new to this whole idea of online entrepreneurship?
An irresistible offer can be a product, a service, a gift, an insight, a special discount, or maybe a 30 mins zoom call with you that solves a problem.
An irresistible offer could be an invitation to join your inner circle, access to a mastermind group, or one-on-one technical consultation. You can be as creative as possible.
Offer something that will make them go... Wow! I don't want to miss out, or WOW! its message has viral potential. Of course, it doesn't cost you a lot, but It has to give excellent value and benefit your audience.
You can create an offer such as promoting an affiliate product that solves a specific problem for your customers, generating income, and simply providing your expertise on how to be successful with that affiliate product. Or, maybe you've got a product/service you created and can offer a free trial.
No matter what you do, make sure that whatever you're offering will be of great value to them.
#10 Content creation strategy 2022 - AI
Content creation is a nonstop, ongoing task for all successful online businesses, and it is the most time-consuming work for any digital entrepreneur.
Content is the most valuable digital asset for a successful online business, whether a website or a blog.
The good news is that now we are in the year 2022, AI writer works like magic, and we can deploy an AI copywriter to do the heavy lifting for us as long as the original idea comes from ourselves. A good AI copywriter can help us get more writing ideas or different tonelegy words.
Many people struggle with writing, and so am I. we use AI technology as a tool rather than trying to compete with it. By leveraging AI technology, we can focus on creating content based on keywords and longtail keyword phrases that will drive correct audience traffic to your site.
#11 Driving traffic to your Business Hub (website)
Once you’ve set up your Business Hub/Brand site, it’s time to drive traffic. There are many ways to drive traffic to your business hub; you can do it through SEO optimization, paid Ads, Social Media Advertising (SMA), youtube, and much more.
Suppose you want to know more about it, especially if you are ready to promote your business hub.
In that case, you should look for a course like Internet Traffic Academy, which teaches you how to get traffic fast, get traffic from all sorts of channels you can tap into, and then siphon the audiences that resonate with your business idea.
Internet Traffic Academy is a fantastic online course that teaches you to drive traffic, generate leads, convert visitors into customers, and make profits.
The most evergreen and effective way to drive traffic to your business hub is to create content about the common obstacle of the niche and the solutions for solving the issue.
The content can be blog posts, a youtube video, a Q&A in relevant forums... etc. When people search for an answer that happens explained by your content, you now start building a very high targeted niche-driven email list.
#12 Build your list
The gold mine is in the relevant audiences
There are various ways to build your list.
You can use an opt-in form on your website, sign up for free services that provide opt-in forms or write a compelling ebook or tool you give away.
Always aim to add value to whatever you're doing and be creative with how you reward subscribers. For example, if you're writing a book (or other types of content), give them access to exclusive bonus content when they sign up.
You can make the landing page unique and exciting because it gives readers access to exclusive material not available anywhere else; trust me, people will sign up because they are so intrigued by it!
When we talk about building an email list, we can not avoid talking about email responders. For newbies, you should first use free services such as Aweber, Autoresponder, or Mailchimp.
But I suggest you build a "niche-specific email marketing platform," aka the "squizz page," for yourself. Why? In other words, if you want to focus on Dogs, then it's better to collect emails from people interested in dogs than those interested in pets. The latter will make your work harder when trying to connect with them with any affiliate product, which may get frustrating!
Monetization strategies (More conversions)
When you have a business hub brand site in your domain, You can collaborate with many other companies with great products or services.
Do you know that 80% of successful companies offer an affiliate program online?
No doubt, affiliate marketing is an excellent way to generate leads and sales for companies in exchange for a percentage of sales.
If you Google monetization strategies for a website, there are many suggestions to consider. The following idea stands out from the rest, and I would like to share it with you, which may provide a better outcome in your efforts as we advance.
The best monetization strategy in 2022 and beyond is to create a community where people can exchange experiences and insights on the topic/niche they care about. And this community gets the latest news from your business hub/brand site.
When people trust there is value in the group, good recommendations are going on, and sales will happen automatically.
When you truly put the people's best interest like your own in this community. You will discover a better solution (products/services) to help solve a common problem; You will come out with irresistible offers; You will thrive on deals because you provide value, solve problems, and be an entrepreneur.