How To Start An Online Business?

How To Start An Online Business?

How To Start An Online Business?

How To Start An Online Business - Wage Earnings Are Limited
Wage Earnings Are Limited

Are you ready to be a boss? Do you want to start your own online business that leads to your road to wealth?

I know I was. For years, I was working long hours that led to the success of many businesses. But they were not my businesses. They were other people’s businesses. My efforts helped others make hundreds of thousands of dollars, and some even millions of dollars!

At some point, back in 2014, I decided enough was enough. These companies were making so much money. Why shouldn’t that be me?

Why should I be getting a fixed wage that has a predetermined salary ceiling?

With my own business, no one is going to tell me I can only earn so much a month. It is up to me to work hard, and make as much as possible. Those hundreds of thousands of dollars, even millions of dollars that those companies were making. That could be mine.

Fyi, this blog post is part of a series titled – How to Start and Grow Your Successful Online Business. Check it out.


Out Here On My Own

How To Start An Online Business - High Expenses
High Expenses

So, I decided to start my own business.

But there was a huge obstacle – the capital to start a business.

Rental of an office is expensive in Singapore. And so are salaries of staff. What if I started a business that incurred all these high costs, and the sales and revenue were not enough to cover it? After all, we do business to make money right?

It is known that most businesses take a few years before they finally see profits. I did not have enough capital to tide over a few years.

Then I realized that my forte is in the digital landscape. It dawned upon me that the best option for me is to start an online business.


My Own Online Business

How To Start An Online Business
How To Start An Online Business

When your store is online, costs are lower. And an online business can reach millions of customers from all over the world. These were just a couple of advantages of an online business. The problem was – while I had years of digital marketing experience, I had no experience in starting an online business.

Undeterred, I started to do research. I spent months and found a few duds. Tried some programs that claim they could help me start an online business easily. Some even claimed they have the get rich formula. Tried them all and ended with nothing.

But I never gave up. I was sure that there must be a legitimate program out there. A program that would work and would help me start my own online business as well as help me succeed. And I found it! It was Wealthy Affiliate.

I followed the training, and here is what I learned:


1. Choose a Niche

The first thing needed to be done is to Choose a Niche that your business will be in. Before choosing a Niche, it is important to know What Is A Niche? Basically, it is a group of people with similar interest. It is a topic that they are passionate about. Seems simple right? But I found it not to be so. There is a lot to consider.

Wealthy Affiliate provides a very good training on What Is A Niche and How To Choose One. Link to the Free Training below.


===> Get The Free Training On What Is A Niche and How To Choose One
(includes a Training Video) Now. <===


2. Products

How To Start An Online Business - Products
Products

A business, of course, will have a product (or service) offering. But when I came to this step, what I did not like was the high costs to store and ship products. And if they are your original products, then there is the cost of manufacturing. Plus, the cost of packaging.

There is too much costs for a small and new business. And all that is before you even start running the business and making money from sales!

There is a couple of options that can remove or reduce these costs. It involves selling other people’s products. And the choices are drop shipping and affiliate marketing. I will discuss the latter a little further down this article.


3. Register the Business

Even though your business is online, it is a good idea to register it as a legal business. Every county and city have their unique laws and requirements about registering a business. I suggest you find out from the legal governing body what are the requirements and what needs to be done to register your business and make it official.

Some of you may choose to register later. Again, this all depends on what are the legal requirements in your individual country or city. Do find out.


4. Buy a Domain Name

How To Start An Online Business - Domain Name
Domain Name

What is a Domain Name? It is the web address that people will be able to go to in order to visit your business website. The physical world’s equivalent is the actual business address. The domain name is the online address.

If you have a brand name, that can be your domain name. The same for a business name that can be the domain name. If you do not have either, and are thinking of a domain name, do go for something short and catchy. A name that is easy for people to remember.

You can buy a domain name direct from the registry or from a hosting company.

Wealthy Affiliate also has a very thorough training (with training video) about Choosing a Domain Name. Link to the Free Training below.


==> You Can Get the Choosing a Domain Name Training for Free when you Click Here <==


5. Get Web Hosting Service

How To Start An Online Business - Web Hosting
Web Hosting

Remember that the Domain Name is only the web address. Just like a physical business address, it is only an address. You will need a piece of land and a building on that land with that address in order for people to find your business and learn more about you.

The piece of land in the physical world is like the web hosting service. Just as you build a business building on that land, you build a website on the hosting service. Together, you have an online property that people can visit and engage in business with you.

There are many web hosting service providers. Some are free. But if you are serious about running an online business for the long term, I would highly encourage you to consider paying for one. Choose a web hosting service that provides all the tools and services you need to run a website. You will be less likely to run into any problems in the future.

Did you know that Wealthy Affiliate also offers web hosting service? It is one of the most reliable service I know of and has really powerful tools to make your website safe and always running. Find out more Here.


6. Create a Business Website

Online Businesses have websites
Online Businesses have websites

As mentioned above, the domain name and web hosting service set the stage for your website. Your business website is the all-important factor in your online business. With this, you can inform visitors about who you are, what is your business about, what you are offering, how to contact you, and most vital of all – how to buy your products.

Creating a website includes a lot of steps. Too many to include in this blog post or it will go into thousands of words. I will write another blog post all about How To Create a Business Website. Do subscribe to my newsletter to be updated when this post is published.


7. Get Sales

How To Start An Online Business - Sales Increase
Sales Increase

This is the ultimate purpose of a business isn’t it? I know it is for me. As mentioned from the start, the reason I am doing online businesses is so that I can make the hundreds of thousands or even millions of dollars.

To get sales, you will need to promote your products. Nowadays, most of the marketing activities are also online. There are various digital marketing strategies such as SEO (Search Engine Optimization), SEM (Search Engine Marketing), Email Marketing, Social Media Marketing, Video Marketing, Content Marketing, and more.

The goal of all these strategies is to drive traffic to your website. When you get a lot of traffic, you have the opportunity to convert visitors to customers. And that is when you get profits from sales.


Affiliate Marketing

I wrote an article about What Is Affiliate Marketing? For more details, you can Click Here.

Here, I will give you a summary of what it is. Instead of creating your own products and incurring all the high costs, you can choose to sell other people’s products. And you do not need to buy their products, store them in a warehouse until they are sold.

You simply promote the products on your website.

You are given a unique affiliate ID. And when visitors buy the products through an affiliate link that contains your ID, you earn a commission.

Again, if you like to get more details about what Affiliate Marketing is all about – Click Here.


Click Here to Learn To Build A Highly Successful Online Business at Wealthy Affiliate University

Conclusion

The above is a simple explanation on How To Start An Online Business. As you can see, it can be quite simple, especially when you learn from a powerful training platform like Wealthy Affiliate. To be honest, I would not have started my online businesses if not for Wealthy Affiliate.

Even with my years of digital marketing experience, I found it helpful. Another thing I learned is to not hesitate or procrastinate. The earlier you start your business, the earlier you start to earn. And the earlier you are on your road to success and wealth.


===> Ready to Learn the Steps on How To Start an Online Business? Start Learning Now with a Free Starter Package! <===


If you have ANY questions about this article or Wealthy Affiliate, ANY at all, please submit your questions as comments below. I will be happy to help you out.

Also, if you are a current or former member, and would like to leave your own review or feedback below, I would love to hear from you, too.

Thank you for reading this.

Best wishes!

Timotheus

What Is An Online Business?

What Is An Online Business - Header

What Is An Online Business?

What Is An Online Business?
What Is An Online Business?

Before Internet, all businesses were done in the physical world. Today, with the arrival of the Internet, businesses can be done online.

What does this mean? What are the types of online businesses? Are you thinking of starting an online business? How can you do it? What are the courses or training available that can teach you how to do it successfully?

All this I will discuss with you in this article titled – What Is An Online Business?

* Note – This blog post is part of a series titled – How to Start and Grow Your Successful Online Business. Click the link to check it out.


What Does An Online Business Mean?

An online business is also known as e-business. Simply put, it is any kind of business activity that happens on the Internet.

Online Businesses have websites
Online Businesses have websites

A business owner can choose to do it in the physical world (also known as offline), in the world wide web (also known as online), or both offline and online. When a business owner does any or all of their business on the Internet, he or she is doing business online. We can also say that it is an online business.

An online business can include buying or selling a product or service on the Internet. These days, most businesses are found online. And they are from a wide variety of industries.

Today, anyone can start a business on the World Wide Web. You simply start a website and sell a product, service or idea on that website.


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An Online Business Is Similar To A Traditional Brick and Mortar Business

Address of the Business

To help you understand more about online businesses, let us see it from a perspective of a traditional brick and mortar business. Let us start with the business address.

In a traditional brick and mortar business, the address would be the physical address where the business is located. On the Internet, there is something similar. It is the URL – the uniform resource locator. It is also known as the web address.

Just like the brick and mortar business’ physical address is how people locate the business in the physical world, the web address is used to locate the online business on the Internet. For example, the URL or web address of Passive Online Revenue is passiveonlinerevenue.com. When you type this in a browser, you will be able to find this website.

Appearance of the Business

What Is An Online Business? - Office Building
Office Building

When you go to the physical address of a traditional brick and mortar business, you should find the physical structure where the business is running. It can be a building or an office.

In that structure, you will see physical aspects that represent the business; e.g. logos. You will also see physical elements such as doors, decorations, tables, chairs, staff working there, etc. All these in the physical world communicate to you about this business – what they sell, who they are, what is the brand, what is their value proposition, etc.

In the online world, it is about the same, except everything is online. When you reach the website, you will see the ‘front’ of the business, which is the homepage.

Usually, there will be an About page to show and tell you about the business and who are the people representing it. The products and services offered will all be displayed on the website just like how products are displayed in a showroom in the physical world.

And just like in the physical world, the website will have Contact information for you to reach the respective party in the business. Nowadays, with e-commerce, you can even make purchases online. Just like you make purchases at a physical store.


Types of Online Businesses

Websites

All online businesses have a website. What type of website it is relates to what type of online business it is. And vice versa.

For example, if the online business is to share a particular topic that the owner is an expert at, then it can be a Blog. If the online business is to sell or buy products and services, then it becomes an Ecommerce website.

Some websites are also strictly just a business front. What this means is that they simply provide information about the business. Any transaction will then be conducted offline, in the physical world.

An example can be a manufacturing plant’s website. The website will feature all the experience and expertise at manufacturing a particular physical product; such as integrated circuit wafers.

Blog

A blog is a website that provides information on a particular topic. For example, a travel blog like Asia Travel Gems contains useful information about cities in Asia, and where are the places to see, what are the good local food to try and where to find them as well as which are the good hotels to stay so that a traveler can get a good night’s sleep.

The information is helpful, and visitors drop by the website to consume it. Over time, as the number of visitors grow, the owner of the blog monetizes the site through various methods; such as selling advertising space, Google Adsense, and the best passive income way is Affiliate Marketing.

Ecommerce

One of the Online Businesses - An Ecommerce Store
One of the Online Businesses – An Ecommerce Store

These days, unless you are living under a rock, you would have come across an Ecommerce online store. These are businesses that sell products, and even services, online. An easy example would be Amazon. It is also called an online marketplace, where you can find many products to buy.

An example of a business selling a service online can be Wealthy Affiliate where you can purchase membership to gain access to the valuable courses there that can teach you how to start on online business and be your own boss.

Social Media

Today, anyone can go on social media and become An Influencer. As an Influencer, the person can get paid by companies to promote their products and services. For example, an Influencer on Instagram with thousands of followers can get paid a nice sum of money simply by promoting a product or service for a brand.

In this sense, the Influencer has an online business. He or she is providing a service; that is digital marketing, for a client. Some Influencers even have websites to promote their talents further.


Advantages and Disadvantages of Online Business

There is a lot to consider before starting your own online business. Here are some pros and cons to help you decide which is the best direction and option for you.

Advantages

Advantages of Online Business

  • Cost Saving – rent, furniture, salary for staff
  • Greater flexibility and efficiency in product and service delivery
  • Accessible to consumers all over the world
  • 24/7 availability to consumers

 

Disadvantages

Disadvantages of Online Business

  • Requires technical knowledge
  • Requires knowledge about the Internet
  • Software and hardware expenses
  • Risks of encountering online scams

 


Need Help To Start An Online Business?

As you can see, there can a lot to consider, especially if you are not a computer or Internet expert. Or if you have not started a business before, whether offline or online.

There is a solution to this. It is my #1 Recommended Online Training for anyone who is starting an online business. And it is Wealthy Affiliate. You can read my review of this superb online training platform.

I highly recommend Wealthy Affiliate because I too have learned a lot from this awesome platform. I have had 26 years of digital marketing experience, and I find I still have much to learn from Wealthy Affiliate.

With the training provided, I have created a few online businesses. In addition, I also do Digital Marketing projects for clients; such as Facebook Advertising, Designing & Developing Websites, Email Marketing, Video Marketing, and more. And what I learned at Wealthy Affiliate has helped me helped all my clients.


==> Ready to Learn How To Build Your Own Website, and Become Your Own Boss? Click Here <==


If you have ANY questions about this article – What Is An Online Business, ANY at all, please submit your questions as comments below. I will be happy to help you out.

Also, if you are a current or former member, and would like to leave your own review or feedback below, I would love to hear from you, too.

Thank you for reading this.

Best wishes!

Timotheus

About

ABOUT PASSIVE ONLINE REVENUE & ME

Hi, and welcome to Passive Online Revenue.  In this article, you will learn About Passive Online Revenue and Me. For a start, this is a site for Passive Income Seekers, where you can find Legitimate Online Passive Income Opportunities.

I Am A Passive Income Seeker, Just Like You

I am no stranger to the World Wide Web and Digital Marketing. In the 80s, when Internet was still in its infancy, I was already creating websites for businesses. As a lifelong learner, and I continued to gain skills and experience in Email Marketing, Social Media, Content Marketing, SEO, Video Marketing, and more.

Over the past decades, I created websites for businesses and applied digital marketing strategies to help them make tons of money. Since 2000s, the thought and realization came to me – why not I do my own businesses and make tons of money for me?
About Digital Marketing Consultant in Singapore - Timotheus

So while working full time, I searched for ways to make money online. The plan was to do online businesses on a part time basis. And when they generate enough revenue, I will quit full time working for people. Then I will focus full time on my businesses as an entrepreneur.

Great plan right?

Problem was – there were many scams.

Lots of promises from get rich schemes or multi level marketing or money games. Needless to say, all of these ended with very poor or even no results.

Over time, I learned how to discern which Online Passive Income Opportunities are scams and which are legit. I learned about how to assess them, and how to decide if it is a program that is honest and has potential to make lots of money.

And I created this website to help you, passive income seeker, to learn how to build your own website, and become your own boss.


My Number 1 Recommendation for Starting Your Own Business


Why I Want To Help People?

From what I shared above, you now know what I have gone through. And that is just in a nutshell. I won’t bore you with the details of so many failed attempts and disappointments caused by scams.

And having experienced what you have gone through, I can empathize. During the years, I have often wished there is a website that can help me cut through all the deception, and tell me what really works? What are the real deals out there?

So I decided to create this website to offer that information, to help people find Legitimate Online Passive Income Opportunities. To help save you valuable time spent researching for the real deal. To help you save time from getting involved in scams and end up with nothing.

Most importantly, to help you save money by not spending it on scams but spending it on Legitimate Passive Online Income Opportunities that really work, that are the real deal, and bring you continually increasing passive income.


THE GOAL OF PASSIVE ONLINE REVENUE

It took me years to find a really good Affiliate Marketing program. One that really works. One that gives me great support to help me reach my goals – owning successful online businesses and receiving passive income continuously.

As mentioned above, the goal of Passive Online Revenue is to introduce you online business opportunities that are real and legitimate. The ones that will bring you increasing passive income. Just like they have for me.

Explore this website to discover these opportunities.

If you ever need a hand or have any questions, about digital marketing, starting your own online business, etc, ANy at all, feel free to leave them below and I will be more than happy to help you out.

Best Wishes to All!

Timotheus

passiveonlinerevenue.com