Advertising
Advertising

6 Foolproof Steps to Launching a Unique Online Business

6 Foolproof Steps to Launching a Unique Online Business

In a market that is saturated and filled with strong competitors, you need to come up with a practical but unique idea for a business. Trying to find a business model that fits your skills, doesn’t make you want to kill yourself at the end of the day, is profitable and has room for development isn’t an easy task.

However, there’s a pattern you may follow which can make things a whole lot easier for you. Starting your own business is a risky move and you’ll need to invest your time, money and yourself to ensure that it works out as planned. If you’re ready to go the distance, you should know it’s worth it.

1. Make Sure There Is Market Demand

Many brilliant minds of the past ages have been a center of mockery because the world wasn’t prepared for them. Let’s remember the most obvious example for this claim – people thought Earth was the center of the universe for very, very long time and to say otherwise was to be labeled as a heretic or madman.

My point is that even if you do have a revolutionary business model or an innovation of some kind in mind, you need to make sure that people are ready for it. Therefore, make sure that there’s a demand on the market that can enable you to develop your startup and work your way up from there.

Advertising

2. Budget Distribution

img1

    Even if you do have a great idea and you can wiggle into the world of business thanks to market demand, you can still end up bankrupt, if you don’t know how to handle your money. As a business leader, you need to be prepared for various outcomes and you need to think several steps ahead and count various different factors into your equation, so you’re practically able to predict the future of your business.

    Startups are all about prioritizing – there’s no room in the budget for nothing more than necessary. Other than covering paychecks, your budget also needs to be distributed to utilities, rent, inventory, and promotions.

    3. Get together a Professional Squad

    Team assembly might be the most troubling step here. If you’re starting out with an acquaintance or perhaps a friend, it might be easier for you because you’re already familiar with someone’s skills and abilities – you have more than just an unfamiliar resume and a stranger’s word backing it up.

    Advertising

    The fact you’re only just beginning with your business implies that you don’t have enough money to pay for experts to work for you. The chances are you’ll employ young people who lack experience but compensate that by being eager to work and earn money.

    Your best chance is to build a small team as soon as possible and transfer your work ethics to them – values you share with them will be the glue that holds you together through both the good things and the bad. On the other hand, a lack of those values will create anarchy, lack of authority and team spirit, which is one certain path to imminent bankruptcy.

    4. Create a Unique Proposition

    img2

      Experts claim how the most important thing to build your business around is differentiation. Let me draw you a little picture; when a person who is in need of a service they have never used before start browsing for a proposal, they won’t be able to tell you apart from your competitors. You need to give them a strong reason to remember you and find you unique.

      Advertising

      First of all, you need to strive towards profiling your ideal customer. Once you figure out their characteristics, the next step is to fashion your business around them. Applying this strategy to your business will enable it to grow in the right direction from the very beginning, which is quite efficient. If you create a functional version of your business in the beginning, it won’t be necessary for you to make big changes later.

      5. Take Your Online Presence Seriously

      Even if you already own a brick-and-mortar business, launching your business online is paramount – if you’re not present on the internet, you don’t exist. Your website is your business card and everyone who gets there by browsing online will make judgments based on what they see.

      When making a website, you need to stick to the current trends, but don’t try to implement all of them because that can only create a mess. The selection of design options you decide to go with need to be in accordance with what you do and be capable of showcasing your offer in the finest light.

      However, it’s not just what’s on the surface but also what’s beneath it. When trying to decide about your tech support, you need to do thorough research in order to select a good hosting option based on reviews and make sure it fits your budget. Be very confident that your visitors won’t waste their time trying to load a single page of your website if it takes too long, and be sure that they will turn to your competitor in a matter of seconds.

      Advertising

      6. Tweak according to Feedback

      img3

        Social networks are your most trustworthy partner when it comes to business development. Managing your profiles on these platforms is something that needs to be handled carefully; these accounts will be a way for your audience to reach out to you, leave their comments and share you with the rest of the world.

        The feedback you receive through these mediums should be most precious to you, whether it be a praise, suggestion or a simple complaint – you should look at reviews as if they were pointers for further changes. Even the finest tweak you plan on making should be based on profiling your ideal customer and trying to meet their needs and possibly predict them.

        Following these steps will enable you to transfer from a startup to a full-fledged small business quicker – each of them is a growth hacking method based on sound business logic. One last piece of advice; you should take risks only when necessary, but don’t hesitate from being brave enough to follow your gut when you’re most certain that’s the right thing to do.

        Featured photo credit: https://www.pexels.com/u/kaboompics/ via pexels.com

        More by this author

        Ivan Dimitrijevic

        Ivan is the CEO and founder of a digital marketing company. He has years of experiences in team management, entrepreneurship and productivity.

        40 Amazing Date Ideas for Valentine’s Day 50 New Year’s Resolution Ideas And How To Achieve Each Of Them 8 Fun and Unique Birthday Party Ideas for People in Their 20s 50 Cleaning Hacks for Your Home That Will Make Your Life Easier 9 Unexpected Benefits Of Foot Massage That Make You Want To Have One Now

        Trending in Entrepreneur

        1 15 Best Entrepreneurs Books to Start Reading Now to Be Successful 2 How to Start a Small Business with Little to No Money 3 The Lifehack Show: Staying On Top of Your Game as an Entrepreneur with Frank Fiume 4 10 Employee Engagement Ideas to Improve Teamwork 5 Effective Employee Onboarding (The Complete Guide)

        Read Next

        Advertising
        Advertising
        Advertising

        Published on January 28, 2020

        How to Ace an Interview: Nailing the 10 Most Tricky Questions

        How to Ace an Interview: Nailing the 10 Most Tricky Questions

        As someone who has been in recruiting for over 10 years I can tell you the interview is vitally important to getting that new job you really want. During the interview process, there will most likely be at least 2 interviews, a phone interview and an in person interview. Both are important.

        Companies can of course have different interviewing processes but in general, there is at least one phone interview, also known as a phone screen, and a live, in-person interview. The in-person interview can be with one person or it might be with a variety of people. While they are both important, the live interview is typically the one that will make or break you as a candidate for the position you are interviewing for.

        Many of the interview questions we will review here will more likely come up during the live interview. But it’s a good idea to be prepared for them on the phone interview as well.

        To illustrate how important the live interview is, I’ll tell you about my search that happened a year ago. I’d decided it was time to move on from the role I’d been in for a little over 6 years. As I started researching and looking for a new opportunity, I began down the path with 2 companies. With the one I landed with, I’d had 3 separate phone screens, each one an hour long. They must have thought they went well because I was asked to fly to the city where the corporate office is at and do an in-person interview. — with 8 people.

        Yeah, it was a long day. The good news is I rocked the interviews across the board. I flew home that evening and the following day, I received a call with the job offer. That was less than 24 hours after I’d had the in person interview. This is how important the live interview is.

        So how to ace an interview? We can dive right in to helping you nail the 10 most tricky interview questions:

        1. What’s Your Biggest Weakness?

        This is a personal favorite of mine. The primary reason for this question is not to actually find out what your biggest weakness is. Unless of course, you say something like “showing up to work on a regular basis,” then it’s probably going to get you kicked out of consideration for the role.

        The main reason for someone asking you this question is to see if you are self-aware. That is if you know your weaknesses and are smart enough to account for them.

        Advertising

        The smart play here is to answer in a modest way. You want to be able to show that your biggest weakness actually has an upside. For instance, I usually say that mine is impatience. Which is true, I like to get things done. But what I ensure what I point out is that even though I am impatient, it’s because I like to crank and get a lot of work done.

        2. Why Do You Want to Work Here?

        Interestingly enough, a lot of people don’t have an answer to this question. It’s designed to find out if you’ve actually done research on the company and if you are excited about this position.

        When I ask this question, many people have told me something like “because it looks like a good opportunity”. I mean, can you be any more generic?

        The key to answering this is to show you’ve done research on the company and that you are enthusiastic about the actual position. Companies want people that are excited to work there, not just someone that shows up for a paycheck.

        3. Where Do You See Yourself in 5 Years?

        Employers are asking you this question to see if you have somewhat of a plan for your career. It doesn’t have to be completely mapped out in a step by step manner but, a general overall plan is good to see. It means you are goal oriented and are working towards something.

        Don’t worry about answering in a way that states you are planning on sticking with the company until you retire. Rather, focus more on how it’s important to you to continue to learn and get better and better at what you do. Companies like to hire self-motivated people.

        4. Tell Me About a Time You Messed Up

        Or tell me about a time something didn’t work out the way you planned. Similar in concept. The key here is to show that you take accountability for your actions and how you react to things going wrong.

        Companies like to see that you are willing to accept responsibility for the things you oversee and own up when you are wrong. People that always find a way to blame their missteps on other people or circumstances typically don’t make good team mates.

        Advertising

        The other component here is things don’t always go as planned, how good are you at adapting and thinking on your feet.

        5. Why Are You Looking to Leave Your Current Job?

        This may seem like a place to launch into all the things you don’t like about your current job. Or to talk about what a terrible person your boss is. Don’t do it. That’s the path you do not want to go down. And that’s really what this question tends to prod out of many people.

        If I am interviewing you and ask this question and you tell me all the ways your boss doesn’t appreciate you and your company has terrible leadership, I’m thinking what you’re going to be saying about me in a year when you are interviewing somewhere else.

        Make sure you are framing your answer in a way that doesn’t shed bad light on your current or most recent employer. You want to focus on things like you’ve enjoyed working for the company but your growth options are limited there so you are exploring outside opportunities.

        6. How Would Your Current Manager Describe You?

        This question gives you the opportunity to show off your strengths and what your boss appreciates about what you bring to the table. You want to focus on the positive traits that your boss likes and how it helps you in your role.

        What you do not want to do is sprinkle in the things your boss doesn’t think as highly of. Don’t say something like my boss would describe me as a focused worker, at least on the days I make it into the office.

        7. Tell Me About a Time You Overcame an Obstacle

        Another one of my favorite questions. Interviewers ask this question to see if you are able to deal with roadblocks.

        Things don’t always go smoothly, so having people on the team who are able to solve problems has huge upside.

        Advertising

        Being able to overcome obstacles is a great trait to have. Make sure you have a few stories about how something didn’t go as planned that caused a challenge and how you were involved in solving the problem. It’s a way of turning a bad situation into a good one.

        8. Why Should We Hire You?

        If you are at the point of a live interview, you should be highly interested in the position.

        By this point, you should have a pretty clear picture of what the role is and how your skills and experience will help you succeed. The reason this question is being asked is to see if you are the right candidate for this role.

        This gives you a great opportunity to tell your interviewer how your expertise will positively impact the role. Right now, you are in the spotlight to clearly show that your experience is the perfect fit for the position and why. Shine on!

        9. What’s Your Greatest Achievement?

        Employers tend to ask this question to gain an understanding of what your big wins were. What are the really impactful things that have happened during your career and how you were the reason why they happened.

        This is another great opportunity for you to toot your own horn. What you want to be conscious of is how you tell the story about your biggest achievement. You want to make sure you say why it was such a big achievement.

        If possible, it’s always good to include your team as part of the big win. Employers love to hire people who can make things happen but, it’s also important they understand the importance of team work.

        10. Do You Have Any Questions for Me?

        You might be asking yourself why this is a tricky question. Honestly, it’s not a tricky question if you are prepared for it.

        Advertising

        What the interviewer is looking for here is how interested and excited you are for the position. You’d be surprised at how many people answer this question with a blank stare or have no questions prepared.

        Again, if you are at a live interview, you should be highly interested in a position and the company. You will convey how interested you are in the opportunity with some well thought out questions to ask.

        You don’t want to just ask one question like “How often is payday”? Have at least 4 to 5 questions prepared but don’t overwhelm your interviewer with dozens and dozens of questions. Show that you’ve given some serious thought to this position by coming prepared with solid questions to ask.

        The Bottom Line

        There you go, insight to nailing the 10 most tricky questions during the interview process. There are, of course, many other questions you might get asked during the interview process but, these tend to be the ones that trip most people up.

        Remember to take your time and thoroughly prepare for the interview. You don’t have to memorize your answers or anything but having a good idea of how you’d answer these questions will help you ace the next interview.

        Here’s to being career advancement ready!

        More Tips on Job Hunting

        Featured photo credit: Romain V via unsplash.com

        Read Next