For some, the idea of creating a business that functions online may seem daunting. But, for others, it may be just the opportunity of a lifetime. The reality is that creating an online business doesn’t have to be difficult – or pricey. With a little know-how and some digital marketing strategies, you can launch an online business that can provide for your family and allow you to travel the world. Below we’re going to walk you through the steps it takes to build an online business and provide some insight into how you can generate revenue and continue to grow your business.
Choose Your Niche
The first step to building an online business is identifying a niche. That is, creating a business that focuses on a particular area of expertise that you are passionate about. If you can become an expert in a specific field or industry, you can build a lucrative business that provides excellent opportunities for growth.
For example, if you’re passionate about health and fitness, you could create an online store that sells vitamins and supplements. Or if you’re an expert in real estate law, you could establish an online real estate law firm that takes on clients from all over the world.
The importance of choosing a niche is that it helps you identify your target audience and develop products that they are more likely to appreciate. If you can become an authority in your niche, you can gain credibility with your audience and encourage them to make purchases – potentially leading to greater revenue and a more sustainable business.
Grow Your Audience
Once you’ve chosen your niche, you can begin to grow your audience. You can do this through digital marketing, social media, or search engine optimization (SEO).
Let’s explore each of these in detail.
- Digital Marketing: Through digital marketing, you can target consumers that are interested in your niche. The world of digital marketing can be daunting, but you don’t need to be. With a little bit of knowledge, you can become an expert in digital marketing and implement effective strategies that will help you grow your audience.
- Social Media: If you’ve chosen a niche that appeals to a younger audience, you can build your social media platforms to connect with them and encourage them to purchase your products.
- SEO: With SEO, you can improve the ranking of your site in organic search results for relevant keywords. You could also use SEO to track the trending topics and popular searches that are related to your niche. This way, you can ensure that your content is easily discoverable and promotes the types of products your target audience is looking for.
Decide On Your Pricing
Next, you need to decide on your pricing. If you’re selling your own products, you can set your price anywhere you want. However, if you’re offering a service, you’ll need to decide how much you’re willing to charge for that service.
The most common types of businesses that exist entirely online are those that offer a service. For example, if you’re an expert copywriter, you could establish an online business that provides website content for businesses that want to gain a higher rank in organic search results. You’ll need to set a fair price for your services before you begin generating any revenues. After you start seeing positive results, you can increase your price.
Find Your Perfect Name
For the sake of this tutorial, let’s assume that you’ve chosen real estate law as your niche. Your business name should reflect your niche. If you’re unable to secure the domain name that represents your business, you can choose a “dot-com” or a “dot-org” extension instead. For example, if your business name is Sahah.com, then your website’s URL will be
If you run a service-based business, you can choose a “dot-com” extension, such as
. If you sell a product, you could opt for
Keep Your Promotions Simple
You don’t need to get fancy with your promotions. In general, you just want to keep them simple and consistent. Use a tool like Growthoid to help you create engaging content that will encourage website visitors to take the desired action – namely, purchasing your product or subscribing to your email list.
For example, let’s say that you’re an online real estate law firm that helps people buy and sell homes. You may choose to promote your services using this online tool, which offers home study courses as well as a platform that you can use to create and run a virtual store.
Deciding to create an online business that sells products is a risky venture. You’re going to be dealing with a lot of competition, and there are numerous challenges that you need to overcome. However, if you’re looking for international travel and a lucrative career, creating an online business that offers a service is the way to go.