Today, I want to share three tips for starting a small business online. Since the Internet’s growing popularity, more and more people are taking their offline business online or are starting a new online business. I have been making money online myself for several years now, and I want to share three helpful tips for starting a small business online.
1- Pick a Topic or Business You Understand
One of the best pieces of advice I can give you is to pick a business you understand. There are hundreds of business models online. Some of the most popular online business models include blogging, affiliate marketing, network marketing, information marketing, paid surveys, coaching, online stores, and more.
While most people gravitate to making money online or network marketing niches, I suggest you pick a hobby or something you are passionate about and turn that into an online business. You will probably have less competition and have a better chance of finishing what you start since you are already interested in the topic.
For example, if you are passionate about German Shepherd dogs, find a way to turn that into a profitable online business. Create a blog or website about German Shepherds and then create eBooks, courses, or products to sell on your website.
2- Stick With It
There are so many “shiny objects” online. People will jump from opportunity to opportunity every few months. They don’t stick with anything long enough to succeed. If you want to build a successful business online, you should make a minimum five-year commitment to it. That means that you pick a business model, you get started, and you don’t quit for a minimum of five years.
It takes time to develop new skills. It takes time to build momentum. You can change your route along the way, but don’t change your destination. As you learn, adapt, and make changes, but stick with it!
Building an online business is a lot like dating. When you start, you are excited. But at some point, the initial excitement wears off. That usually takes 90 to 120 days. Once that happens, you have a choice to make. You can keep moving forward, or you can jump ship! My best advice to you is to keep moving forward.
3- Have Realistic Expectations
Let me start by telling you that there is no magic pill to success. If you’ve worked in a job your whole life and are currently making $50k per year, don’t think you can start an online business and make that much money your first year. You see, there is no magic pill when it comes to making money online.
So many people have unrealistic expectations about making money online. They think making money online will be easy and fast. Things seldom work that way. That’s why I recommend you keep your day job as long as possible. Keep your steady income while you build your part-time business income on the side.
In summary, these are my 3 best tips for starting a small business online. Please keep in mind that online companies aren’t much different than a traditional business. They take time and money to build. You will have competitors. You will have challenges and setbacks. And it won’t be easy. But if you stick with it, learn as you go, and make changes as needed, you can build a successful online business within 2-3 years.