Many of you must have visualized starting your own online business from home.
Isn’t it? Well, let us tell you that you are not alone. Whether it is wanting to be your own boss, starting a side hustle, or simply pursuing your dream, several driving factors make people start an online business and generate steady income.
That said, starting a business of any kind is no easy feat. Although the internet has created a level playing field for the business segment, in the end, it is just a medium connecting people and businesses. To start an online business from home, you need to figure out how to connect the right people with the right offering.
Several people have jumped into entrepreneurship. With ample sweat equity and the right ideas, you can do it, too. But you also need to identify a business model that will work best for you.
To help you out, we have assembled this step-by-step guide that will assist you with everything you need to launch your online business. So let us get started.
7 Simple Steps to Starting an Online Business
Here is a seven-step guide to starting your online business.
Step 1: Conduct an Online Market Research
Assuming that you already have a business plan and have decided on the products you wish to sell online, the next step involves conducting online market research. This stage involves gathering data about the market you want to enter.
This step is critical as it helps you uncover the demand for your products. You understand your target customers and their preferences. An excellent way to conduct market research involves analyzing Google SERPs for key search terms. Also, you must carefully evaluate your competitors and figure out their products/services, customers, pricing, and operations strategy.
Step 2: Define Your Target Audience
Your target audience is a group of people who match the same characteristics that your business aims to serve. Defining your target audience helps tailor your product offerings for potential customers. How to Start an Online Business from Home?
The best way to identify your target audience is to categorize them based on demographics. For instance, you need to find out your target segment’s age, gender, income, preferences, etc. Evaluating your competitors can also help you understand your target customers.
Step 3: Source Products to Sell Online
You need good products and a reliable sourcing strategy to start an online business. Essentially, there are three ways to source your products: DIY your products, work with a dropshipper, or collaborate with a wholesaler or manufacturer.
Drop-shipping involves partnering with a vendor who allows you to list his products on your online store. This way, you make a commission for every sale made through the online marketplace.
All three sourcing methods are very effective. You can choose the one that best suits your requirements.
After selecting a sourcing method, it is vital to figure out all shipping and inventory details. If you are dealing with a wholesale company, find out specifics like production and shipping costs, minimum order quantities, customer support, exchange policies, and other terms and conditions.
Step 4: Assess Product Viability
If you want a successful online business, you must sell products that stand out. The best online selling products are those that are unique and eye-catching. Ideally, the product should not be available anywhere else online for your business to create a unique value proposition.
Additionally, try to sell your product at competitive pricing to attract a large base of customers.
Step 5: Choose a Good eCommerce Platform
You can deem an eCommerce platform to sell your products and services online as the central hub. So ,How to Start an Online Business from Home? when picking one, make sure to consider the following things:
- The ability to sell an unlimited number of physical and digital products
- Built-in eCommerce features such as deals, discounts, CMS, analytics dashboard, etc.
- A website builder that is easy to use, mobile-friendly, and cost-effective
- Easy and secure payment processors
- SEO-friendly features such as customized domain name, SEO-optimized URL, meta tags and descriptions, etc.
While several options are available nowadays, we recommend using Aasaan.shop. It is an incredible DIY platform for entrepreneurs who want to start, sell, manage, and market their online store and create a robust online presence.
With an intuitive website builder, seamless shipping integration with Shiprocket and Pickrr, 0% transaction fee while using UPI, the Aasaan.shop app provides a great way to start an online business and create an impactful online presence.
Step 6: Determine Your Marketing Strategies
It is no secret that thousands of brands online are vying for attention. So, to make sure that your online business gets the traffic it needs, you need a strong marketing strategy. And while creating that strategy, think about your brand and what makes it unique.
To begin with, you can enhance brand awareness by setting up social media profiles on platforms like Instagram, Facebook, LinkedIn, Pinterest, etc. You can also consider inbound marketing strategies such as SEO, email marketing, blogging, influencer marketing, paid to advertise, and video marketing.
These approaches will help your online business build a community of people and engage with them to boost awareness and sales.
Step 7: Launch Your Online Store
Finally, the last step involves launching your online store. But remember, to ensure continued success after the launch, you should follow the below steps:
- Order fulfillment and managing returns, if any
- Following up with the customers to ensure they are satisfied
- Building customer loyalty through deals and discounts
- Measuring success through relevant KPIs
Focusing on growth through online marketing and email marketing strategies
Components of a Complete Online Store
There are certain things you need if you want to create an online store in India.
1. Website Builder
The first thing you need is a website builder. You can create your online store in India from scratch, but you will need a lot of time and coding knowledge for that. If you are short on time and lack the programming skills, using a website builder is the best bet. If you are looking for an affordable website builder that lets you create an online store in India and start selling today, Aasaan is the app you need.
2. Payment Gateway
Once you create an online store in India, you now need a way to get paid by customers. This is where a payment gateway comes in. With a payment gateway, you can receive payments from customers, quickly and securely. Your customers can also choose from multiple payment methods. With the Aasaan app, you can link your online store to Razorpay, one of the most popular payment gateways.
3. Shipping Platform
After your customers place their orders and pay you, you need to ship those orders to them. With a shipping platform, your orders are automatically dispatched to your customers. When you create an online store in India with the Aasaan app, you have the choice between two shipping platforms to link with your store: Pickrr and Shiprocket.
Are You Ready To Start An Online Business?
Starting an online business from home may not always be without challenges. However, it is one of the most worthwhile things you will ever do. So, if you have a great business idea and a passion for building something on your own, you must get started today.
By choosing an intuitive platform like Aasaan. shop, you can create your online store within minutes and get on the road to online business success.