I'm sure that if you've thought about starting your online business, there are more questions floating around in your head than certainties. Don't worry, it's normal. There is so much information on the web that it's not unusual to feel overwhelmed, but undecided, without knowing the steps to follow. So where do you start? Start by answering these 10 questions to define the foundations of your online business.
10 Questions You Should Answer Before Starting Your Online Business
What is my purpose in creating an online business?
Because every journey begins at the starting point, to create an online business you must first be very clear about your purpose. Why do I want to do it? What do I want to contribute or solve? Am I really passionate about what I want to do?
Creating a digital business is a very satisfying experience, but also exhausting. Behind every smiling face you see on the web sharing their knowledge there are many hours of work. Therefore, having a clear purpose and doing what you are passionate about will help you in those moments when work gets complicated.
But you don't just have to be clear about your purpose. You also have to define what your business is about, what your niche is. Will you offer products or services? If you are a multi-passionate person like me, it may be difficult for you to narrow down the nature of your business. But it is possible to do so if you are honest and decide on what you are most passionate about.
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Who is my business aimed at?
This question should help you define your buyer persona. The ideal client is the person you love working with, with whom you understand each other perfectly and who identifies with you.
And where do we get our ideal client from if we are just starting to create an online business? In principle, we invent it. The technique of creating an avatar of your ideal client works very well. It consists of creating in great detail the person with whom you want to work. Demographic data such as age, sex, geographic location, socioeconomic data, psychological traits and even hobbies can be included. If you know every detail of your ideal client, you will know how to achieve a genuine connection.
Also, consider the situation or problem that your service will solve. What is their pain point? What worries them the most? How can you and your product or service help them solve their problems? What can your ideal client expect from you?
Once you've answered all these questions and created your ideal client's avatar, keep them in mind in every email, social media post, and all the content you create. It's also necessary to work on your brand's identity and values, which must be coherent and aligned with your ideal client.
What technology tools do I need to create my online business?
Perhaps the most complicated part is the technological part, because it involves shaping your online business. In general, most of us are not experts in the use of these tools, which implies acquiring new knowledge or hiring, as in the case of website design, experts to help us.
It is also an aspect of our online business that requires a considerable investment of money and this can generate some resistance, especially if you start with just what you need.
Sounds difficult, right? Believe me, it is. But it's not impossible. My initial recommendation is to take stock of the resources you have, not just monetary, but also your skills and connections. This will help you when making your budget.
Collaborations or exchanging services is an excellent alternative when you start your online business and you don't have much money. On the one hand, you will gain experience and the testimony of a client who will surely be satisfied with your work and on the other, you will be able to create your business by investing only time and knowledge.
The important thing is to get the tools you need to create an online business. Research which ones are really necessary. Many of them have a free version that you can use when starting out. The basic kit of tools and technological platforms you need are:
Web page
Email marketing programmer
A payment platform
Calendar
Social media post schedulers
Design platforms
This is how you can design your plan to start a digital business
What service am I going to offer?
With this question you will define your monetization model, that is, what you will exchange for money. Because to be honest, no matter how high the ideals that drive us to create an online business are, at the end of the day, if it does not generate profit it will not be sustainable.
There are 3 most common ways to monetize.
Offer your products or services
Affiliations: Create your own affiliate program or work with affiliate marketing, recommending products or services from other brands.
Share your knowledge: create courses or training, consultancies or support programs.
The important thing is that from the beginning you define the product or service with which you will monetize and work hard on your sales funnel to achieve conversions.
How will they discover my business?
The Internet is huge and there are many businesses like yours. Is this a problem? No, if you work with strategy.
If you have already decided to create an online business, you have defined your ideal client and you know what products you are going to offer, it is time to design your visibility strategy. Those actions that will allow your digital business to be discovered.
Social media plays a fundamental role in giving visibility to your business, that is, as long as you have a good content marketing plan. Providing value makes the difference. Today, the trend is a little more banal, with dances and sketches that are entertaining, yes, but that do not always convert.
Don't get me wrong, if you like it you can do it, however, always make sure that all your content provides value to your ideal client.
In your content strategy I recommend including:
Content that showcases your expertise: This type of content is specific, focused on the topic you are an expert in and the knowledge you have in your field.
Content that ranks on Google: that answers the questions your ideal client is asking in the search engine.
Content that helps us build loyalty and create a community, aligned with the values of our brand, with which our audience identifies and helps us differentiate ourselves.
What will my lead magnet be?
When you start building your online overseas chinese database business, it is essential to have a free resource that you can offer to your clients as a hook. The lead magnet, as this resource is also called, is the first step on the value ladder and an indispensable part of your sales funnel.
This is a resource, product or service of great value, for which you could charge, but which you offer for free or rather, in exchange for a registration on your email list. The lead magnet must be
Attractive,
Provide an effective response to a specific problem
Adding value
The lead magnet is the gateway, the icebreaker between you and your client. The first step to establishing a relationship of trust, where you can show your knowledge and where the client can know what to expect from your work.
When am I going to launch my business?
Preparing to launch your business is a complex issue. It can be a lot of work, anxiety and stress if you are not clear about the steps you need to follow. Therefore, the key to having a successful launch is preparation.
Before setting a launch date, you should make sure you have each of the components necessary to create an online business ready.
Website with the basics: landing page, about, products or services, contact
Blog with at least 4 entries
Lead magnet and beta product
Social media campaign
Email marketing strategy
What goals do I want to achieve with my business?
It is impossible to get somewhere if you don't know you want to be there. If you want to create an online business you must clearly and consistently define the goals you want to achieve.
The SMART matrix is a good indicator to start defining objectives. According to this proposal, the objectives should be:
Specific
Measurable
Achievable
Relevant and
Storms
Think about your business purpose and your ideal customer when defining your digital business goals. Size? It doesn’t matter, your goals don’t have to be huge, they should fit your purpose and align with your customers’ needs.
What metrics am I going to measure in my business?
There are many parameters that we take into account when analyzing metrics, however, not all of them are useful for our online businesses. If you have already defined your objectives, you will know which metrics to take into account.
Typically, the metrics that get the most attention are those related to reach, however, these numbers do not always indicate that we are getting good results. In my case, I prefer to measure those items that are related to conversions.
If you are clear about your objectives, you will know which metrics to focus on to get results and make the necessary adjustments, because at the end of the day, the importance of metrics lies in their ability to determine what works and what doesn't in order to make the necessary corrections.
10 questions that will help you create an online business
What other skills do I need to learn to sustain my business?
Starting an online business is like a cross-country race. The terrain is rugged and to complete tasks and maintain your business you need to develop multiple skills. Continuous learning is the norm when you decide to start your own business.
Furthermore, the path of an entrepreneur is a lonely one. We are often multitaskers, we take on many tasks. And if that were not enough, the Internet is an ecosystem that evolves every second and in which it is impossible to survive without keeping up with the changes.
Learning about marketing, finance, design, creativity, administration, productivity is almost mandatory. Luckily, on the web we also find an endless number of platforms and media where we can acquire all the knowledge we need.
Don't take anything for granted or pretend you know everything. Arrogance often comes at a cost and it's better not to take that route. Include physical, mental and emotional self-care techniques in your ongoing learning. You'll also need to know how to take care of yourself to be successful.
