Business Success Factors To Consider When Starting An Online Business

Posted By Carlos Batista on Jan 22, 2017 in Business Topics, Online Business, Uncategorized | 0 comments

Starting a new business online is easy and anyone can do it thanks to the technology of today but, being successful requires that certain factors are in place.

This is by no means the only list but is a list of the most important factors you require for a chance at online success:

1. Passion. Find out what you are passionate about and relate that to your business. When you are passionate about something you put everything into ensuring it succeeds. Passions breeds action.

2. Sacrifice. Be willing to make sacrifices in the beginning. It could be financial; it could be material and it could be your spare time. In the beginning, you may have to invest a lot of time in getting your venture off the ground but once it is up and running you will once again have spare time and if done correctly, even have more spare time then when you started.

3. Don’t quit your day job. In a lot of cases entrepreneurs start new online ventures to eventually replace their current income from a job they do not enjoy. It is rare that this happens within the first few months so keep your day job and work on your online business around that. This way you are not stressed about making enough money to pay the bills. Eventually you will be able to quit but by then your financial situation is such that your life style does not change. Well, not for the worst anyway.

4. Get support. Be sure to get emotional support from your partner, family member or close friend. Starting a new online business and being entrepreneurial is challenging so having that emotional support in times when your energy is low, will help you to keep moving forward.

5. Research your niche. Be sure to do as much research on your niche as you can. Find out about your competitors, prospective customers, what are people talking about and what are others in that niche doing. Read discussions in social media about the niche you are considering. This will give you an idea of what people are talking about and can even highlight their pain points which, you can use for your marketing campaigns.

6. Joint ventures. Be sure to align yourself with those who know more than you and can possible pass this knowledge and skill set on to you. If you want to succeed online, find out what successful online entrepreneurs are doing and follow that.

7. Reduce running costs. If you can run your business from home, then this is a bonus as you will not have the worry of office costs which can drain your resources when you first start out. With today’s technology, you literally need a laptop and an Internet connection to have a fully automated end to end online business.

8. Be unique. Find something that makes you unique from others. What differentiates you from your competition? It could be your process, your product, your life story or even your support system. Differentiation can be a big prospect winner.

9. Business pages. Do not neglect your “About Us” or “Contact Us” pages. You would be surprised at how many of your prospective customers will view these pages to find out more about who they would like to do business with. At times these pages could be the decision between your prospect buying or searching further.

10. Easy navigation. Make it easy for your website visitors to firstly find your website navigation menu and secondly, to navigate around your website without searching for links up and down your pages.

11. Security. When offering card payment facilities on your website, make sure you choose a secure payment processor then display these security features to your prospective clients so they are assured their information is safe when used on your website.

12. Contact information. Make sure you display all your contact information to prospective customers so they have different ways of contacting you when the need arises. Not all website visitors want to contact you using email. They may want to make sure there is a real person behind this business.

13. Reviews. If you have customer reviews or comments that you can display on your website, then place them in a prominent position on your website. This is another tactic for improving your credibility if they are genuine. Never generate reviews for the sake of having them on your website. Credibility and integrity should always be intact when doing business online.

14. Be social. Be sure to post and interact on social media channel every day. This not only helps build your brand but can also start discussions that can lead to leads and ultimately sales.

15. Easy checkout. Make sure your website’s checkout process is quick and easy. The more information and pages your website visitors have to complete to make a purchase, the more prospects will exit before completing the sales process.

Make sure you carefully consider these business success factors when deciding to start an online business. It is not easy but when you have these in place, your chance at success increases dramatically.

For more tools and resources on starting, running and growing an online business click here!

The fastest way to learn is by mentoring successful online entrepreneurs who do this every day.

Find out more about the mentors I used for my online success here! 

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