There has never been a better time to start an online business.
More people are shopping online than ever before. And I am not just talking about products. Online shopping has become the norm for a variety of goods, services, and even educational content.
Combine this with the fact that you can run your online business from anywhere in the world, and it seems like a no brainer.
However, before you go ahead and quit your day job, it is important to note that running an online business is not all rays of sunshine and rainbows.
It can be much harder than you think.
So, without further ado — 5 things to know when you consider doing online business.
- There Is A Lot of Work Involved
- It Builds Slowly
- There is a Learning Curve
- Email is Still Key
- Perfect is the Death of Good
1. There Is A Lot of Work Involved
Because so many people see online entrepreneurs living it up on Instagram, they have a skewed perspective of what it means to run an online business. They think that it involves a small amount of work, combined with a lot of cocktails by the pool.
But nothing could be further from the truth.
While having an online business will let you work whenever you want, and from wherever you want, your success is predicated on your work ethic.
In short, the more you work, the greater your success.
If you have dreams of making six figures while working 2-3 hours per day, then you might want to look elsewhere.
2. It Builds Slowly
When it comes to making it online, it takes time.
Like, a lot of time.
To be successful, you need to build a good reputation as a quality business. Within this, you need to grow your customer base into something large enough to provide a sustainable source of income.
As I am sure you can imagine, this takes a heap of effort and an absurd amount of dedication.
As a result, for the first 6-12 months of running your business, you might find yourself working around the clock to pay the bills. In all honesty, expecting a decent income within this timeframe is simply unrealistic.
It is for this reason that so many people choose to buy an online business rather than start one from scratch.
3. There is a Learning Curve
There is a lot more to running an online business than simply creating a website and waiting for people to buy your products.
It would help if you came up with a business plan. You need to identify your place in the market and your ideal customer base. Then it would help if you learned how to use digital marketing to your advantage.
And you are not done yet.
After comes a social media presence and the creation of high-quality content — all of which require you to learn.
With this in mind, some skills feed into a successful online business, and they all have a steep learning curve associated. So if you don’t have any interest in learning about the above, then maybe look elsewhere.
4. Email is Still Key
Throughout a couple of years, social media marketing has taken the main stage. It has become the most common method of advertising your business.
However, it is far from the most effective.
One older method still reigns supreme — being email marketing. Email marketing allows you to send messages directly to your customers that meet their wants and preferences. It provides a means to alert people of new products, sales, or competitions.
It is without a doubt the most powerful marketing tool in your toolbox — so be sure to use it.
5. Perfect is the Death of Good
Finally, the last thing I want to touch on is the issue of perfection.
When you are working for yourself and creating a brand, you want it to be perfect. Every little detail needs to be spot on. The font needs to be right, every word needs to roll off your tongue like silver, and every image needs to scream ‘aesthetic.’
Until it doesn’t.
By trying to get every little thing to a state of perfection, you will delay doing any real work. You fall into this state where nothing is quite ready, and as a result, you don’t do anything of great importance.
And the kicker? Most of the stuff you are worried about does not matter. There is a very good chance that you are only the person who will notice it.
So, instead of wasting time trying to get every little thing perfect, be happy with good, and then move onto the next thing.
This is the key to true productivity and a successful online business.
Running an online business is not as easy as advertised. It takes a lot of time, a whole lot of work, and won’t come with many rewards in the early stages.
But, if you do manage to get a successful online business up and running (or buy an already established online business), then you can live a life of freedom and fun — be prepared to do the work first.