Based on statistics from the office for national statistics, 77% of adults in the UK used online platforms to purchase goods or services in 2017; a rise from 58% in 2008. If you are determined to earn a living through online business keep in mind that it takes effort to build a business. Focus on the outlook of your website, grow the business in your terms, follow the law and the set regulations and take time to gather all the information you need to convert an idea into a successful enterprise.
Do Comprehensive Research.
It is imperative to find out everything about the online business before getting into it. Research your market; find out the existing gaps, assess whether you can fill it and whether it will generate enough revenue to turn your startup into a success. Doing in-depth keyword research and evaluating trending products will help you assess the viability of your startup.
Having a market for your product is essential. It can be the distinction between building success or unsuccessful business. Take time to find out if people will be willing to buy your product, the money they’d be willing to pay and also analyse your competition. Determine what you can improve from what your biggest competitors offer. This will help you brand your product or service better.
Build An Efficient Online Store.
Once you have the product or service, the finances and the market, the next step is to establish your website. Although you have the option of using third-party platforms such as Oberlo to conduct your business, building your site allows you to exercise control, customise your site to your liking and you get to sell your products and services without an intermediary. Using a marketplace is, but you will need to pay for the service.
When designing your site, make sure it remains simple, easy to navigate and attractive. Ensure that buyers can purchases products easily. No more than two clicks between a potential customer and checkout is ideal
A customer friendly website is appealing. Listen and implement the opinions of your regular customers on how to make their experience more satisfying, provide in-depth information about your products to help customers make the right decisions and make the site mobile friendly. List your contacts in your website to help your customers reach you effortlessly and use tools like Google’s page speed insights and Pingdom to speed up your site.
Learn Online Business Law And Regulations.
Before opening up your online business make sure that you follow all the necessary rules and regulations. Following the law protects you from facing legal problems, fines or the collapse of your business. Different countries vary when it comes to taxes. For instance, in Britain, VAT ta applies to all non-essential goods. Seek the services of a tax professional; they will walk you through everything you need to know about tax regulations.
Start your business on the right foot by researching the appropriate trademark, copyright and patents. You are not strictly required to apply for them, but it will be safe to find out if you will need to apply for them depending on what you intend to sell. It ensures that you do not infringe on the rights of other businesses and also protects you from legal issues.
Apply for your licenses and permits early enough to avoid delays that will prompt you to postpone your opening day. Different countries have different laws when it comes to licences; therefore, talk to your local licensing department to find out the licenses you are required to obtain. Various products and services also have varying licenses and permits requirements. For example, you need a personal license and a premise license to sell alcohol online in the UK.
Start Small And Build Up.
Success does not happen overnight; it takes hard work, dedication, commitment and sometimes failure to build a successful online business. Take the risk but start small. This will allow you to take controlled risks, learn from your mistakes, make the necessary changes and identify the plan that will work for your business.
As you build your business take time to learn from already established entrepreneurs. Listen to their opinions and learn from their mistakes. Their input will save you a lot of money and time you might have otherwise wasted on trial and error. Build your reputation by interacting with like-minded people, being active in industry forums and social networking sites. You can also provide useful information for free to other sites but include a link to your website.
Getting started can be challenging but taking the first step take courage. With the right strategy, time and the willingness to adapt to the changing technology, building a successful online brand is possible.