Running a small business definitely has its appeal, but it also comes with its own set of challenges. The truth is, starting a business of any kind is hard work. While some may think of the internet as a get-rich-quick scheme, basic business principles still apply. In this guide we’ll give you step-by-step guide on how to start a small business online.

In reality, “online” is just a channel that connects businesses to people. It’s a powerful tool that lets you reach anyone from anywhere in the world. But creating a business with it is still about connecting the right customers with the right offering.

Countless people have already made the leap into entrepreneurship. And with the right online business ideas and plenty of sweat equity, you can too.

This isn’t about one simple life-changing trick. Starting an online business doesn’t work that way. Instead, to help you start a small business online, we’ve put together a collection of simple steps to start a business without quitting your day job.

1. Validate your idea with research

It might sound harsh, but it’s true: just because you think you have a great idea, that doesn’t mean there’s a market for it. Before investing your time and energy into starting your business, research how feasible it is and whether there’s any potential buyer interest. You can hire an agency to conduct market research for you, but if you’re on a shoestring budget, you can also take the DIY approach:

After conducting market research, write a business plan to clarify your ideas. Having a business plan will help you stay organized and focused as you go through the ups and downs of starting a new business. If you don’t want to start a business from scratch, you can always buy an existing business with validated ideas. 

2. Develop your product or service

You’ve validated your idea, now it’s time to turn it into a reality. Whether you’re selling a product or service, you need to create it. Find a manufacturer to bring your product to life, create packages of your service offerings, or write your book and identify a self-publishing option to bring it to fruition.

If you go the dropshipping route, the product has already been developed for you. It’s up to you to choose the products you’re passionate about or that you’ve identified a hot market for. To help you, we’ve put together a guide to finding the best products to dropship.

3. Set up your business finances

“How do I open a business bank account?” is a common question for many new entrepreneurs. After you’ve officially registered your business with your local government, you should have the tax identification numbers and other information required to open a business bank account.

As you grow, you might need funding for future endeavors, be it a new product launch or marketing and advertising spend. Having business bank accounts makes it easier for you to manage that capital, as well as track your revenue and expenses.

Having a bank account is also helpful when it comes to tax preparation, since your business-related transactions will be in a single place. As your business finances get more complicated, hiring a professional accountant or tax professional could be a viable option.

4. Find vendors and suppliers

Product-based online businesses in particular may require lots of business relationships. For example: a manufacturer, a dropshipper, or a third-party logistics coordinator. When identifying which partnerships you want to move forward with, it’s best to shop around and compare your options to make sure you’re getting the best solution for your needs.

Other online business ideas may require different relationships or contractors. If you’re writing a book, for example, you may want to hire a professional editor and book designer.

5. Build your business website

If you want to start an online business, you need to have a website. And to make money online, you’ll need to incorporate payment processing functionality. 

First, find a business name. You can use a business name generator to help come up with one if you’re stuck. You’ll need one to start building your website.

Then choose a domain name and verify that it’s available. You can purchase a domain name for less than $20 a year in some cases. From there, you can build your own store on a platform like Shopify and start accepting payments from customers right away.

6. Market your new small business

Getting your first paying customer is a huge milestone for a new small business owner. Now that you’ve got your store set up, you’ll want to start getting your business out there. But finding new customers and creating convincing promotions takes time and energy.

There are so many channels to choose from—email marketing, Messenger marketing, mobile marketing, etc.—it’s hard to know the best way to grow your online business. It’s easy to get caught up in the wrong tactics and invest your time and money in the wrong places.

Start your online business today!

If you’ve been thinking about starting an online business, it’s time to get out there and create your new startup in your spare time. You don’t have to go all in. Start small with a part-time side hustle and scale from there. Or, keep things small. The beauty of learning how to start a business online is that it’s completely up to you. 

Wrapping up

We at ShopShipShake have been working with businesses like yours with fulfilling experiences.

If you would like to know more details about us, please contact us:  www.shopshipshake.co.za

If you are interested in cooperating with us. Please register on: https://bit.ly/3ks0m1M