In this all-digital era, there are many promising digital business opportunities for young people. For those of you who are interested, do you understand how to start an online business from scratch?
Before building a business, you must first know how to start and the principles to minimize risks that may occur.
The main step in how to start an online business for beginners is to determine the type of business and market needs.
So after that, what to do? To find out, see how to start an online business for beginners below:
9 Ways to Start an Online Business
Building a business cannot be done carelessly because this can have an impact on business success later.
So, you need to know how and the stages that must be passed to start a business from scratch. Well, here are some ways to start an online business for beginners:
1. Determine the Type of Business
First of all, you have to determine the type of business you are going to do. You can adjust this question to your skills or preferences.
For example, if you like to explore food, you can open a business in the culinary field. If you like fashion, you can start an online business in this field.
At the same time, don’t forget to look for problems faced by the market so that you can create products according to your needs.
That way, your products have value and can compete in the market. If not, then the chances of failure will be high.
Furthermore, you also have to be good at finding business opportunities. You can do this by observing various types of businesses.
2. Riset Market
The next way to start a home online business for beginners is to do market research because this is important.
Market research needs to be done to help you find more specific business ideas. How?
Regarding this, you can see market trends on social media, use Google Trends tools, or do surveys.
This method will make it easier for you to find business opportunities and know market needs.
3. Competitor Research
When starting a business, not only the product is important, but you also need to know the competitors.
Who are the direct, indirect, and shadow competitors? Direct competitors are those who have the same business and target customers as your business.
While indirect competitors are those who offer different products, but can target the same target market.
On the other hand, shadow competitors are those who have different products and goals, but the target market is the same.
Once you know all the competitors, you need to study them. For example, what are their advantages? What is the promotion strategy? What are their shortcomings?
To answer all these questions, you can analyze them using the Strength, Weakness, Opportunities, and Threats (SWOT) method.
4. Determine the Target Market
After getting data from market research and competitors, the next way to start an online business from scratch is to determine the target market.
The target market here refers to a group of people who have the potential to buy your product.
You can target by grouping potential consumers based on age, occupation, gender, income, lifestyle, or others.
More simply, you can question whether your product is for kids? Pregnant and breastfeeding women? Or, for teenage girls?
That way, you can make products according to their needs. This method can also help you to focus more on determining the marketing strategy to be used.
5. Choose a Business Model
Choosing a business model is the next way to start an online business. For example, you can stock up on several products to then sell to consumers.
But, how to start an online business without capital? Well, if you are limited with capital, you can use the dropshipper business model.
The model doesn’t require you to stock the product because you can ask the supplier to send the item to the customer on your behalf.
However, what if you want an online business that doesn’t involve physical products? It’s easy, you can choose an affiliate business model.
6. Build a Business Website
Then, how to start an online business for beginners is to create a website that is used as a ‘store’ or storefront for your products.
It is known that most people trust businesses that have a website. So, don’t forget to open a website for your business!
Actually, in addition to increasing trust, a website can also be a platform for you to sell products.
There, customers can get information related to your product as well as check out the item they are looking for. So, the process is easier and structured.
7. Market Products
After doing all the ways to start an online business above, now is the time for you to do marketing.
In this case, you can take advantage of all your social media, be it Instagram, Twitter, or TikTok.
Furthermore, you can also implement SEO strategies so that your products are easy to find on the first page of Google searches.
8. Maintain Customer Loyalty
To develop a business, of course you need to target new consumers. But, don’t forget to maintain loyal customer loyalty.
For this, you can offer big promos for loyal customers or use other strategies.
That way, consumers will feel satisfied and moved to continue buying products or using the services you offer.
9. Conduct Regular Evaluations
What is no less important in how to start an online business for beginners is to always do regular evaluations.
This is aimed at finding out what parts you need to improve? What needs to be improved, and so on. That way, the business will continue to grow.