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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.

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2. Budget Distribution

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    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.

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    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

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      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.

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      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.

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      6. Tweak according to Feedback

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        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

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        Ivan Dimitrijevic

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

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        Last Updated on November 19, 2019

        Work Smarter, Not Harder: 12 Ways to Work Smart

        Work Smarter, Not Harder: 12 Ways to Work Smart

        I imagine that like me, you say that you never have enough time and that you just cannot cope with 60 dozen things all at once.

        How on earth do you get out of that spiral?

        Many people never sit down and look at how to work smarter, rather than harder and even longer hours. But not you, you’re smart enough to try to learn effective ways to work.

        So how to work smarter not harder? Here are 12 smart ways you should be following:

        1. Improve Your Time Management Skills

        Easier said than done? Well, no actually, because there are a few simple rules that can really help you to manage time better.

        For example, when setting up a top priority task, you need to switch off the phone and ignore your email first. Then you need to abandon any ideas of multitasking as that will slow you down and ruin your focus.

        Finally, set a reasonable deadline and do everything in your power to meet it.

        “When you’re born, you’re born with 30,000 days. That’s it. The best strategic planning I can give to you is to think about that.” — Sir Ray Avery

        2. Speed up Your Typing and Use Shortcuts

        These days we’re all keyboard slaves. So why not speed up your typing and try to get rid of the two finger syndrome. In fact, when you save 21 days per year just by typing fast!

        This is exactly what I am doing now, so I cannot honestly say I am practicing what I preach!

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        But help is at hand. Try some of these apps and games to help you type fast: 8 Most Effective Games and Apps to Learn to Type Fast

        Using shortcuts on the keyboard is another time saver and can speed up your work.

        For example, press F2 to rename a selected file, while CTRL + I will put selected text in italics.

        There are so many of these. If you make the effort to learn them, they really can be helpful.

        3. Learn How to Use Productivity Tools

        It is well worth downloading all the useful tools and apps that can highly boost your productivity. Take a look at these 18 Best Time Management Apps and Tools and install whatever fits your needs.

        Now that is really a great way of working smarter, not harder.

        4. Use Your Phone Wisely

        Instead of writing emails, sometimes it’s better to pick up the phone and talk to the person responsible. It saves time, especially for important or urgent discussions.

        If that colleague works in the same office, it is even better to go and talk to him or her. It gives you a break, you get some exercise and you actually make human contact which is becoming quite rare in this electronic world.

        5. Keep a Tab on Your Tabs

        If you are like me, you might well find that you have a ton of tabs open at the top of your browser.

        In order to find the one you want, you have to search for them as they are off screen. Having all these tabs open slows down your browser too.

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        One solution is to use OneTab which can keep a neat list on the screen of all these tabs when you want to quickly get to one of them or you want to remind yourself which ones you have open.

        6. Use a “To Don’t” List

        We all know about to do lists and I find that they are generally great. They give me a great sense of achievement as I cross off the tasks done.

        But often, I find that we are doing non-essential tasks or ones that can easily be postponed. That is why many people recommend the to don’t list.[1]

        Some people prefer to savagely prune the to do list while others prefer to have two separate lists, to do and to don’t. You just have to work out what works best for you when you are trying to save precious time to become more productive.

        7. Expect Failure and Fight Paranoia

        When failure rears its ugly head, some people get a bit paranoid and fear that this may become a trend.

        Projects will go wrong and failure should be expected rather than feared. Learning lessons from failure and analyzing what went wrong is the best way forward.

        “Do not be embarrassed by your failures, learn from them and start again.” — Richard Branson

        And here you can find 10 Great Lessons Highly Successful People Have Learned From Failure.

        8. Be Concise

        Rambling on at meetings, in emails and even when introducing yourself to new clients can waste a lot of people’s time.

        One way is to practice and sharpen your “elevator speech,”[2] which tells people in 30 seconds or less why they need your skills and how they can benefit from doing business with you.

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        Just think of the many situations where this could be useful:

        • Making new contacts
        • Talking about yourself at a job interview
        • Meeting people at conferences or parties
        • Phone calls to new clients

        9. Ask the Right Questions

        “You can tell whether a man is clever by his answers. You can tell whether a man is wise by his questions.” — Naguib Mahfouz

        How do you get feedback? The secret is to ask the right questions at the right time.

        When you do this, you are gathering the information you need to help in decision making. This will save you time and you will be able to cut meetings to a minimum.

        Forbes magazine reports on research that they carried out on asking the right questions.[3] When that happens, the positive effects are increased by 400%. There are also other benefits in staff motivation and a positive impact on the company’s bottom line.

        Lifehack’s CEO Leon has shared about how to ask for feedback to learn faster: How to Learn Quickly And Master Any Skill You Want

        10. Learn as Much as You Can

        You should always be on a steep learning curve. Look at your skills profile and determine where you need to fill a gap. Talk to important connections and network in your niche.

        Keep up to date on trends and developments. It is a fact-changing world. When an opportunity arises, you will be the best equipped to seize it because you have never stopped learning. Just another way of working smarter.

        “Live as if you were to die tomorrow. Learn as if you were to live forever.” — Mahatma Gandhi

        11. Look After Your Greatest Resource

        No, your greatest resource is not time. It is YOU.

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        If you do not get enough sleep, exercise and relaxation, you find that you become less and less productive. You begin to work longer and longer hours, which is the exact opposite of what you want.

        What you should be doing is making sure you are in the best shape. It is useful to remember that you need a break of 15 minutes after every one and a half hours of work.[4]

        Taking breaks and getting fresh air and exercise is one of the best ways of working smarter, not harder.

        12. Don’t Fall into the Trap of Working Smarter and Harder

        As a society, we are obsessed with doing everything smarter so we are more efficient and we save time all around.[5]

        But the most important thing to remember is to accept when we are ready to switch off that computer and not fill up the time with even more work!

        The Bottom Line

        The key to greater productivity is to work smarter, not harder. Working smarter saves precious time and energy for the things that really matter — your life goals, your personal growth, your health and your relationships.

        Stop working for more hours and start working smarter!

        More About Working Smart

        Featured photo credit: Unsplash via unsplash.com

        Reference

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