I’ve been receiving a lot of questions regarding how to get started with an online business.
In this post, I want to help you clarify the questions you might have about getting started with your online business.
No matter if you are in the hamster wheel and planning your escape or just want to start a side-hustle for a few extra bucks.
There are some steps you have to take before you get started with your online business.
This post is an overview of the steps you should take before you start your online business.
TABLE OF CONTENT
- Target audience
- Your unique selling point
- Rough plan
- Your goals
- Product ideas
First off you have to know what you are passionate about.
You need sort of an idea of what you would love to do.
In case you are in the “figuring it out” phase and only know what you don’t want to do I’d like you to remember that it’s the first step.
The more you know what you don’t want – the closer you get to what truly sets your soul on fire!
Start with a list writing down everything you want and love in your life.
Getting in touch with your inner self through meditation can be very helpful as well.
If you want to learn more about meditation check out the post on meditation for beginners here.
Once you figured out your passion it’s time to know the purpose behind your business and to turn your passion into your business idea.
I’m passionate about personal development and online marketing.
One of the major driving forces for me personally is freedom.
The freedom to be able to choose when, where, how, and with whom I work together.
My goal is to help ambitious, purpose-driven creatives leave their soul-sucking 9 to 5 jobs and to create the life and business of their dreams.
2. TARGET AUDIENCE (WHO DO YOU WANT TO HELP)
Once you figured your purpose, passion, and your business idea the next step is to know who it is for.
Who do you want to help?
Is it a he or a she? How old is the person?
Where and how does he/she live? What are his/her values and dreams?
How can you help this person with your passion?
I touched on my example above but it can be anything.
You might be excellent in the kitchen and passionate about experimenting with easy, healthy recipes.
One of the bloggers I love to follow is Maria from Morerawfood.
She is on a raw vegan diet and turned her passion into her online business.
She sells healthy recipe books and an online course helping others change their diet and live a healthier life.
Once you nailed down your passion, purpose, business idea, and target audience the next step is benchmarking.
3. BENCHMARKING (IS THERE A MARKET FOR YOUR IDEA)
In this step, it’s time to find out if there is a market for your idea.
Your idea might be amazing but if there is no one interested in it you can’t turn it into a business.
Therefore it’s important to check out other people in your niche.
Who are your competitors/colleagues who are in the same niche?
What are they offering?
Who are they targeting?
Use google and start researching.
Make a list with all your potential competitors and write down who they are, what they do, what they are offering, and who they are targeting.
If you can’t find anyone in the same niche it might be a sign that there is no market for your idea.
It might work but probably will be very hard to monetize.
This would mean that you can go back to point 1 and start from the beginning with another idea.
4. YOUR UNIQUE SELLING POINT (WHAT CAN YOU OFFER DIFFERENTLY)
Let’s say you have your passion, purpose, business idea, target audience, and found some competitors online.
Now you can ask yourself what you can do differently to them.
What will your unique selling point be?
You don’t have to invent the wheel again.
It’s nothing wrong if you have an idea that thousands of other people had before you.
But you need to be a bit different from them.
You can’t just offer the same thing. It won’t work. You have to set yourself apart.
You have to pour in your personality and work out your unique selling point.
Why should your target audience listen to you?
How are you offering your help differently to your competitors?
Having a unique selling point not only separates you from your competitors but turn your competitors into potential partners.
Because you aren’t competing against them but sharing something similar in your unique way.
5. ROUGH PLAN (HOW MUCH TIME CAN YOU INVEST)
The next step is to make a rough, down-to-earth plan for your future online business.
How much time can you work on your online business per day and per week?
When would you love to put in the hours?
As an online business owner, you can work whenever and wherever you want to.
However, you need a plan and know when you are going to work and be consistent with your work otherwise it’ll be just a hobby.
6. YOUR GOALS (WHAT’S YOUR FIRST YEAR BUSINESS GOAL)
Besides the rough plan knowing when, where, and how much you are going to work on your online business it’s time to set goals for yourself.
It’s not so much different to set business goals as to set personal goals.
The key here is to have a future vision for your business.
Where do you see yourself and your business 1, 3, and 5 years from now?
What do you want to achieve with your online business?
If your answer is “earning money” – that’s too vague!
You need more specific goals than that.
As with any goal setting, you start with your big goals first and then break those down into tiny little action steps.
You set yourself a goal 1 year from now and start working backward.
Use the templates from the Go For Your Dreams Planner it’ll walk you through the entire goal-setting process step by step.
Your goal is to make 300$ / months from your online business 1 year from now and your current state is that you don’t even have an online business.
Which steps do you have to take to get from where you are to where you want to be 1 year from now?
Define milestones and break your goals into quarterly, monthly, weekly, and daily tasks.
Taking little action steps every day towards your goal is the key to success.
Do not underestimate the power of tiny steps each day!
7. IDEAS HOW YOU OFFER YOUR SERVICE
By now we nailed down most of the critical questions you need to ask yourself before you get started.
The next step is to think about the ways you are going to offer your service to your audience.
Are you planning to offer physical products or digital products?
What kind of products are you going to offer?
Courses, books, workbooks, coaching sessions, physical products, or something else.?
Brainstorm your ideas and jot down your thought.
8. WHICH PLATFORMS ARE YOU GOING TO USE
For me, it’s mainly Pinterest, while for Maria from MoreRawFood, it’s mainly YouTube.
You don’t have to be on all platforms at once.
In fact, it’s impossible to juggle all the platforms by yourself without a huge team.
Focus on 1 platform at a time, master it, and then move on to a second platform so you won’t have all your eggs in one basket.
Join the free Online Business Training and learn how to start your own business.