Working online has been pegged as the solution to all your money problems. You read stories of people who became millionaires online, often with nothing more than an internet connection. Maybe they developed an app, or sold a million pixels at a dollar each. They might have traded currencies, invested in cryptocurrency, or ‘done online marketing.’
The one thing these stories don’t tell is the ‘how’. Without a step by step guide, it’s easy to think anyone can do it. In a way, they can. But if you don’t consider the pitfalls, you’re likely to stop halfway in. Start by deciding on the kind of business you’re going to start. There are two broad categories – either you’re making something yourself or selling someone’s stuff.
Makers and sellers
‘Making something’ could include taking photos, painting, carving, programming, writing, or any activity that involves a physical (or virtual) product. In a sense, making something also includes ideas. If you’re a coach or consultant, then you make some kind of training package that you then share with others, because the skill you’re teaching is a product too.
On the other hand, ‘selling’ is about marketing someone else’s product. This could include tech support or customer care, because you’re pushing someone else’s product or service. It can also include reselling, where you buy something and re-sell it for profit. You might also market someone else’s brand and earn a commission.
Get a virtual office
Think of your online business just like a regular ‘offline’ business. You need the same resources, you just apply them differently. For example, instead of a physical office space (even if it’s a garage), you need a virtual office. That’s the main function of your website. It’s a ‘premises’ where your visitors can come for ‘meetings’. Start with a domain. That’s you ‘www’ and it can cost anything from $1 to $1,000.
Pick a name (e.g. www.business.com) then go to any domain search to see if that web url is available. If not, see what’s similar, or pick a different name. Buy your domain and pay for a hosting package. That’s like the rent on your office, and is due monthly or annually. Now you can hire a web designer or use free tools like WordPress to build your website. Alternatively, go to sites like Wix.com or Squarespace.com. They’ll do everything for you – domain names, hosting, and web design for a fixed monthly price.
Hire a digital team
Now you need a team of staff – preferably the kind that won’t cost you money. Your social media accounts are your customer care staff. Don’t forget to integrate them to your website, making it easy to share content between platforms. Get a merchant processor like PayPal – that’s your cashier. They receive customer payments.
For marketing, engage in SEO (Search Engine Optimisation). It gives you visibility with potential customers and pushes you closer to the top of Google and other Search engine rankings. So now you have an office, marketers, cashiers, and tech support. Get to work on your products. And remember, it takes time, so don’t give up!