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The Internet has leveled the playing field for small business owners around the world. Online businesses are relatively easy to set up, without the start-up costs that a physical business requires. However, this relative ease doesn’t mean you can go ahead and hang up your business card. As with any business, you need to build a strong foundation for your online business. While the steps outlined below don’t necessarily have to be followed in order, they should provide you with a foundation strong enough to support the weight of future business growth and success.
Becoming an online entrepreneur has many benefits, but it’s important to remember that running an online business requires paying attention to important details that will determine success. Technology is an important factor and plays an important role in helping online entrepreneurs reach a large number of targeted customers. Fortunately, a little technology goes a long way for online businesses to operate at a low cost of ownership by replacing the need for a physical store for their customers.
Establish your market
- It is important to understand your target market. Knowing where to find your target audience online allows you to develop your marketing strategies to reach them quickly.
- Ultimately, understanding your core audience will help you find the right message and ways to offer the right products. Research your market to understand needs and preferences.
Register a domain name
- You can’t run an online business without registering a domain name. A domain name is your place/location/address on the Internet. There are many companies online that you can buy your domain from. Some commonly used are Google Domains or GoDaddy. Your domain name is one of the most important factors in branding your business online.
- Think carefully and choose one that represents your goals well. When doing this, be sure to work with a domain name verification tool to see what is available. It can be difficult to find an unregistered domain name, but most domain name websites have tools to offer suggestions and help you with your search.
Host your domain
It is not possible to run an online business without a host of some kind. A web hosting provider offers your business online space on servers. Sometimes registering a domain name and finding your host can be done with one company, which is much easier. The key features to consider when choosing a web host are:
- storage capacity
- The security aspect of the server.
- Domain-based email features
- Uptime Percentage
- Marketing tools available
- Ability to offer customer response forms.
- Blog hosting capacity
- Customer Service Accessibility
Create your website design
- Building your website can be fun, and if you find the right eCommerce platform, it’s a simple step. This is where your technology and your dream store come together. However, if you feel like you lack the web skills to create a professional-looking site, hiring a professional designer may be an easier alternative.
- While customizing your site yourself may seem complicated, if you’ve chosen a quality eCommerce platform, they likely have a team of designers who can help you customize your website and run your online store.
Set up payment options online
- The ability to receive payments online is vital to your online business. It ensures that customers can not only shop but also transact on your website. Common online payment platforms include PayPal, Stripe, etc. When you buy their eCommerce software, make sure they have a variety of payment gateways.
- Providing your buyers with the right payment options will have a significant impact on the success of your business in the early stages. Choose providers that offer different packages and allow upgrades so you can start at a lower cost and scale as your business grows.
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