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8 Life Hacks for Millennials Who Want to Achieve Success

8 Life Hacks for Millennials Who Want to Achieve Success

We live in a time in which anyone with a good idea and the drive to bring it to life can find success. However, it’s not as easy as putting your idea out there and waiting for the money to start rolling in. There’s a lot of tough work involved, especially when starting your own business. While it can be intimidating getting your business off the ground, keeping the following maxims in mind can help get your entrepreneurial excursion off on the right foot.

1. Wade in, don’t dive.

This is not to say you shouldn’t put your all into your business venture, but you definitely do not want to overwhelm yourself to the point of giving up before you even get moving. Learn as much as you can, but do so systematically. There’s a lot to know about running your own business, but you should gain a strong foundational knowledge of entrepreneurship before you tackle the more advanced techniques and ideas. Set intentional daily, weekly, and monthly goals for your education, and keep track of what you’ve learned on a daily basis.

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2. Be frugal.

We’ve all heard the saying “You gotta spend money to make money,” but that shouldn’t persuade you to go broke chasing your dream. You definitely need to invest in your business venture to get it off the ground, but don’t assume you will be an automatic success and spend all your extra cash on frivolous items. A year or two living in a studio apartment might be rough while getting going, but it will make for a good start to your biography when you’re 40 and own a home in the Hamptons.

3. Invest in yourself.

Like I said, you are definitely going to have to shell out some cash to get moving toward success. But spend that money wisely. Spend it on your education and your future. You don’t even necessarily need to have a four-year degree to gain the knowledge to be a successful businessman. Check out online courses and workshops. Many are available for free, or at the fraction of the cost of tuition at a large university. Even though you might start out your career in the red, you shouldn’t put a price on your education.

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4. Meditate.

Many successful businessmen have discussed the benefits of meditation at length. Meditating calms the mind, body, and spirit, and allows you to spend time in deep reflection. Use this time to clear your head of all the nagging issues which plagued you throughout the day. After you have spent time calming your nerves and mind, come back to the pressing issues that were causing you trouble before with a fresh head and new perspective. It’s a much better strategy than plodding through and burning yourself out.

5. Stay healthy.

Speaking of avoiding burnout, you can’t be productive if you’re bedridden. It’s good to be ambitious, but it’s not good to neglect your body’s needs in favor of your business. Take time to do some exercise on a daily basis. Don’t skip out on meals, no matter how much work you have to do. And get enough sleep. Your body will thank you for going to bed at a normal hour by waking you up earlier than you expected. Listen to what your body tells you, and don’t put it off. You could end up doing much more damage to your venture than will be done if you just call it quits early for a day.

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6. Network.

You definitely can’t go it alone in today’s business world. You have to make connections in order to help your business, and your own self, grow. Of course, it’s incredibly easy to hop on LinkedIn or Twitter and connect with hundreds, if not thousands, of other likeminded individuals. But the most worthwhile connections you’ll make will be the ones you’ve made in person. These are the people you can really learn something from, and who will take your business venture seriously. Put yourself out there and find people who you can truly connect with.

7. Be innovative.

If you don’t want to create another middle-of-the-road company whose mantra is “reach the status quo,” you’re going to need to be an innovative thinker. Analyze common problems faced by people of all walks of life, and attack the issue from a variety of perspectives. Try to come up with new, inventive solutions that use resources differently and more effectively. Accept that entrepreneurship involves a series of trials and errors, and it will take time and effort for you to make your first breakthrough. When you do get there, it will certainly be worth it.

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8. Keep pushing.

Like I said, it’s highly unlikely your first major breakthrough as an entrepreneur will come immediately. But that doesn’t mean you should stop trying. Use the information you gleaned through your failed experiments and trials to make more informed decisions during subsequent attempts. As long as your knowledge and understanding continue to grow, your failures aren’t truly failures at all. It’s when you stop trying altogether that you’ve truly wasted your talents.

Featured photo credit: Steven Depolo via Flickr via farm7.staticflickr.com

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Matt Duczeminski

A passionate writer who shares lifestlye tips on Lifehack

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Last Updated on September 29, 2020

How to Start an Online Business That Will Grow and Succeed

How to Start an Online Business That Will Grow and Succeed

Unsurprisingly enough, all businesses are online today. Considering the advances in the smartphone industry as well as the increasingly accessible internet facility, it was only a matter of time before businesses took advantage of the online environment.

This increasing popularity makes for a promising future for a lot of young entrepreneurs. And knowing how to start an online business will open up a world of possibilities for you that was not possible 10 years ago.

So, keeping the potential for exponential growth in mind, let’s dive into the article below, and explore the steps of starting an online business that will bring you success.

1. Becoming the Master of ‘ONE’ Trade

Most successful online businesses are the master of one trade. And that’s why beginning with a niche is always a good idea.

A niche market is a focused segment within a larger market. Imagine a men’s shoes market and then, imagine handcrafted brown Italian leather shoes for men. While the previous one is a bigger market, the latter one is simply a more focused segment within that market.

Knowing the niche helps a lot to start an online business and if you are feeling a bit lost, here are some self-queries that will act as a perfect guide:

What Speaks to Your Heart?

This first way of discovering the niche is perfect for those who want to do what they love. Working in a market that you love will ensure that constant excitement and drive to do better, eventually leading to ultimate prosperity.

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Decisions Based on Knowledge

The second way is perfect for those who have a lot of untapped knowledge about a specific industry. Utilizing the insights on a specific industry is a great way to find a niche. This way, you’ll already know all the ins and outs of the industry and can easily get ahead of all the competitors.

Undiscovered Potential

Lastly, conducting research into various industries and finding an untapped segment is another amazing way of finding the right niche. This practice will require you to come up with a new and unique solution for uncatered audiences.

2. When Is Your Idea Valid?

All the great ideas for starting an online business needs to be valid. And once you have found the niche, this validation process is what comes next.

Proving the soundness of the idea is not at all hard. A detailed industry examination is all you need initially to understand the value of the concept and recalibrate it to turn into a great online business.

Market research is a systematic unraveling of the target market. This research will include all the information on the product/service you are about to sell, the target audience, and how the competitors are operating in this crowded market.

This in-depth research will give you the initial idea of how the products can make an impact in the outside world. And once the small online business ideas are validated, it will be time to move on and craft a plan and start working on establishing the business.

3. Crafting the Map to Success

Having a proper plan for an online business is like having a map when you travel to an unknown city. This is a document that includes all the factual information on the business and crucial business data.

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To help you out, here’s a list of all the information online business plans must include:

  • An idea of objective – The best online business plans always have a clear outline of the business goals and intentions. Having this clear outline will increase the efficiency of business functions later on. The target demographic, business model—all kinds of information needs to be a part of this document.
  • Taking stock of available resources – A startup needs to utilize all the resources it has, and that’s why the plan needs to have an in-depth outline of the financial resources in use as well as the employees and their expertise. With a better idea of all the resources in hand, starting an online business will be an easier process.

4. The Virtual Storefront: A Process of Development

The steps of how to start an online business are incomplete without the website creation process. With the right website approach, you can easily succeed in increasing business revenue.

What does that perfect business website look like? Let’s follow these steps to create an effective business website.

Choose Your Approach

There are numerous ways of making a website and for a positive outcome, you need to choose the perfect approach. Depending on the business model, initial finances, and end goals, there are two kinds of approaches for the online storefront:

  • Third-party approach – Third-party platforms will connect you with the customers out there. For small online business ideas, Creating an account or site with these platforms will be beneficial because these platforms come with a large array of services as well as a big enough existing consumer base ready to utilize.
  • Creating a new website –  A business-specific website will help you eliminate the third party go-between and connect directly with the buyers. With this approach, you get more control over the business and how it is presented to the consumers out there and the revenue you make. Any of the above-mentioned approaches can be beneficial for easy online business startups. However, to achieve some specific business goals, having a customized website will be more beneficial for you.

Design Can Bring You Maximum Success!

For those who have decided to create their own site, the design is of paramount importance. With a great design, you will be able to engage and interact with the visitors better and encourage them to make a purchase.

The design, however, is not just a matter of aesthetics. A website’s design encompasses all aspects of it, from the visual effects to the content that’s used on the site.

To create a truly amazing design that reflects new online business concepts here are a few matters to consider:

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  • Keep it responsive – Many markets are simply skipping over the desktop phase and launching the business for mobile users around the world.[1] Considering this popularity of the mobile internet market, the business website has to be responsive. This approach will help you to reach a bigger audience and conduct business on a larger scale.
  • Users want a fast experience – Using high-quality images on the site does improve the visuals, but make sure all those images are compressed. Having a faster website will enhance the user experience on the site. Besides compressing all the media content on the site, you can also utilize an asynchronous loading technique that loads all the contents simultaneously, reducing friction. With a faster site, it will become easier to implement the online business startup ideas into reality.
  • Define the brand – The design stage determines a lot of things for the business website and one of those things is the business image. To make an impact on the world with the business, you have to create a perfect image and for that, a brand guide is necessary. The brand guide is a document that includes all the information and guidelines on various visual elements on the site that makes up the business personality. Based on the kind of image you want to create, all the elements will be outlined in this documentation.

Where the Website Becomes Reality

Since we know how website design helps to launch a successful online business, it is time to move onto development. Online business development is where the idea becomes a reality. And to make this reality perfect, you need to make sure that the development and deployment process goes well.

A high performing site always includes all the right features that enhance the user experience as well as helps you to convert more traffic. And for the best results, ensure the use of only the latest tech stack during development.

Here are some development issues you have to pay attention to while building the business website:

  • The right partner makes all the difference – For small startups who are wondering how to start an online business, finding the right development partner is going to make all the difference. However, before making a decision, there are a few things you should contemplate. The team that you are about to hire should have experience in catering to your industry, as well as an extensive portfolio and good reviews. Additionally, it will be perfect if the agency or freelancer also provides a 360-degree service, from development to maintenance.
  • How to assure the quality of the site? – Testing the site is an integral part of the answer to the question of “how to start an online business?”. An experienced partner will be able to help you the most with this. From security testing to split testing, this stage in development will help in understanding how well the site functions and what needs to change. And once the changes are made and the test results come clean, it will be time to launch the website.

5. Some Tricks to Increase Online Sales

Selling online is not easy, but not hard either. In a physical store, you can use campaigns, go door to door with pamphlets, and such. However, successful online businesses have their own style of campaigns that helps them to sell more without any problems.

So, what are these tricks?

Utilize the Magic of SEO

With an increase in quality traffic, the sales ratio will go up too. And to drive quality traffic on the website, you need to utilize the SEO tricks, and probably hire an SEO expert.

When starting an online business site, ensure all the content on the site is optimized to rank for the right queries by target consumers. With a higher rank on the SERP, the traffic will increase on the site.

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With the increase in quality traffic, it will become easier for you to convert visitors. The visitor data will help you to adjust the site performance. In brief, utilizing SEO will open the doors to a lot of possibilities for your small online business ideas.[2]

Entice With Free Value

Consumers today have lots of options to choose from. And keeping all that in mind, it will be wise to create a business plan for an online startup that provides free value to the users before asking them to buy something.

Consumers want to buy from someone who knows what they are doing, especially in the case of a curated service or goods provider. And that’s why to turn the profitable online business ideas even more effective, you need to start offering free value on the site, with free products and content.

Having a blog is also another way of displaying your expertise. With specialized content on the industry, you can easily grab the attention of the audience. And once assured of your knowledge on the matter, consumers will feel a lot safer about making a purchase.

A Killer Customer Service Is Everything

Your small online business idea needs a better service option. Using AI-based interactive features to implement better support for the global consumer base will prove to be extremely beneficial. With a 24/7 automated support channel, customers will be satisfied with your business and come back more often.

It’s an Easy Process: All You Have to Do Is to Start

And there it is, the simple five-step process of starting an online business that is bound to succeed. If you look closely, you’ll notice that there are not a lot of differences between creating a physical business and an online one. The main differences are only in the consumer and competitive landscape.

While a physical store faces and caters to local competitors and consumers, the online business has to deal with the same on a global basis. So, focusing well on the global market landscape while crafting the plan will help you succeed.

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Featured photo credit: Austin Distel via unsplash.com

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