How do I start making money online in 2020?
This is the one of the most searched queries on the search engine.
A question always arises in my mind when I see my friend or any person who is making money online that-
“How can I do the same?”
I know you feel the same, you also want to start your own online business and make money.
Well it’s not the big deal in starting the business online, you just need to take the right steps.
If you’re serious about making money online this year, to live the lifestyle we all always dreamt, you need to follow the steps and jumpstart your online business
Believe it or not the time is changing, if you will not start now, you will regret in future.
What kind of online business can you start?
An online store or website where you sell products or services over the Internet.
Suppose you have a clothing store and you want to take it online, so you can build your own ecommerce website or start an online store on Shopify dropshipping.
Online shops or marketplaces:
Start selling on Amazon, eBay, these are some of the best global Internet platforms where you can sell anything your product to the audience directly and these platforms charge on the commission basis.
Just like me!
As a blogger, you need to create your own content and provide value to your readers.
You can monetize your blogs with affiliate links or by selling your own digital product or physical product.
You can sell your products directly to your readers.
Social media accounts:
One of the most trending and appealing ways to sell your product is by using your social media accounts.
Instagram or Facebook have more than 1 billion active users monthly.
These platforms provide free use to the people in exchange for seeing ads, you can run paid ads for your product and service through these and make money while surfing social media.
Now, you know the kind to online businesses you can start.
Here are the steps to follow to start an online business:
1. What an Idea
Every successful business starts from a simple idea and that simple idea will turn into a great business when you start putting efforts on the idea.
- What business are you going to start?
- Who are your customers?
- What is your target market?
Don’t just ask it, write it on paper and brainstorm on the ideas.
Write the resources you need to turn that idea into a business.
Depending on the type of business idea you decide to start, you have different ways to monetize your business and make money.
If you not have any idea about what to start, read here: https://btlgeeks.com/best-online-business-ideas-in-2020/
2. What’s your Niche
Now you have decided an idea for your online business.
Next step is to ask yourself “What’s my niche?”
In other words,“What your business is about?” you have to think about this.
For example, you have decided to start an ecommerce store but what will you sell on your online store like- clothing store, home decor store.
No one can tell you whether your idea is good or not and no one can guarantee that your online business will fail or succeed.
But the next step will give you some relief about your niche and make you feel confident in your idea.
3. Why this niche
You have to do research on your business niche and evaluate your niche.
Evaluating a niche means finding out if this particular niche has potential that can turn an online business into a profit generating source.
How can you evaluate the niche?
I will tell you the ways that I used to evaluate the niche.
First, search on Google, type your niche and you will get lots of search results.
You will get many websites which are already selling what you want to sell.
Find out what they are providing to the customers and what price.
Read their reviews, the issues their customers are facing.
As you see I have searched for home decor and this website is shown on the top, by analysing these websites I can evaluate my niche.
But doing this you will get the idea about the potential of your niche.
Search on facebook, pinterest and on other social media platforms to get the better knowledge on your niche.
Now if your niche has potential then you’re ready to move on to the next step.
4. Who are my competitors
Your niche is decided!
Now move on to the next step which is find the competitors in your niche.
You have to list out the businesses who are already selling similar products you want to sell and analyze their website and products.
Knowing about your competitors is the most important aspect of a business.
You have to understand the types of products they are selling and how their website is working.
You will get to know about the trending products which have more demand in the market from their social media channels.
After analyzing the competitors you have to find your King.
5. Who is your customer
Identify the person who is interested in buying the stuff you are selling.
- What kind of people will search for your business?
- Who will visit on your website or online store?
You have to find the answer to these questions, if you don’t have an idea to whom you are selling, then your business will not work.
You have started an online women fashion store, then which age group women you will target, where do they live, can they afford the price of your product.
So you have to target your audience according to that.
At a later stage when you get start with your business website and start getting traffic, it will be easier for you to reach the target audience by using keywords related to your targeted customers.
The more clear you will be with your target customer the more specific traffic you get on your website.
And, that specified traffic will give you more conversion rate or we can say more sales.
6. Where to sell
Suppose you want to start an online clothing store, then where you will sell, which platform you will choose to sell.
The platform you would use should be easy to use and user friendly.
If your website or platform is not user friendly then you will lose sales.
The research says, 89% of consumers shop from a competitor after a bad user experience.
So you have to be very wise in choosing the platform.
I personally recommend you to use Shopify, they provide you the best service to build your own online store.
Now you come to the end in order to start an online business.
7. How to get sales
Getting a sale is not a cake walk.
You have to be persistent with work and keep patience in getting a sale.
Starting a store is simple but getting a sale is the real magic.
But you can also learn this magic and this magic trick will lead you to your pot of gold.
You have to create the marketing plan and start doing digital marketing for your online store.
First create your facebook and instagram page for your business and start running paid ads on these platforms, it will not give you instant sales but it will create the awareness for your business and later you will get sales too.
You can use Google Adsense for online marketing.
There are lots of free ways also, which you can do for getting sales.
I have already covered the free ways to do marketing: https://btlgeeks.com/best-ways-to-do-free-online-marketing-for-small-businesses/
We are done with the steps to start an online business.
If you follow these steps and make sure you note down the steps or bookmark this article, because it’s not a one go process, it takes time to follow every step.
You have to visit this blog again after executing each step to follow the next step properly.
And, now the most important thing.
How much do you need to start an online business?
This is also the one of the most asked questions on public forums and Google.
So the answer to this totally depends on your business idea and type of business you are starting.
If you want to start building your own website or an online store on shopify then you need to invest $100 to $300 per annum for getting a domain or hosting and for building an online store from shopify.
Or you can start from $0 if you think about blogging.
Yes, that’s right,you can start for free.
But I don’t recommend you to use free platforms for your online business, they will not provide the features to your business and their interface is also not good for your audience.
The chances of getting failed are much higher in those free platforms.
Invest in the good platform or in building your own ecommerce website and sales funnel from the WordPress.
The small investment can unlock your gold.
If you want me to create your ecommerce website or set up your own online store on Shopify for free.
We are ready.
But, are you ready to start?