Starting any business requires two primary subjects:
“technicality” and “logistics”. The general rule of thumb for launching any
business, states that there should be a five to six years financial prognosis
of what your business niche stands to achieve, this way it would be easier to
weigh the costs, opportunities and risks involved, to enable you understand how
to invest wisely. The same rule is also applicable to any online business idea
queued for execution.
|Photo Credit from Instagram, with Canva customization.|
The six (6) vital answers necessary for starting an online
business revolves around the two primary subjects highlighted above. But I urge
you to think of them as plans rather than just answers because with such
mindset, executing a proper structure for your online business becomes
simplified, and it encourages discipline in conducting the right research and analysis.
Here is a bonus tip before starting any online business, spend
enough time to determine what niche suites your purpose. This seems casual but,
it is the utmost foundation for executing any business idea or setting a goal.
Reflect and ask yourself why you want to start an online
business… Do you have a passion or talent that you wish to monetize using
various networks or online communities? Or are you simply considering an online
business because of the
hype that it
could make you rich within a month? If your goal is to showcase your passion, and
transforming it into an online career, then finding a niche is definitely a
no brainer! But for the latter (which
sadly, the majority belong to), following the hype is not a solid foundation for
launching a successful business career. Having too many expectations is often
matched by concrete reality, and if these expectations are not satisfied as
imagined, it becomes simple to get frustrated and give up at the early stage of
This is the first technical effort to establish in your online
career. Research is productive in comprehending the activities of other rich
online authorities specialized in your niche. You want to operate a bit
different from your competitors, and you want to think about the added value
that can fill up the lacuna in the content they provide, that way your online
business would possess uniqueness and ingenuity. We are generally used to
hearing about being unique in any line of business, but most times we do not
know about the factors that lead to achieving such status, or sometimes we
simply take it for guaranteed and just adopt the “crowd mentality”.
Following the crowd is sometimes commendable, especially when trying
to make a name at the opening stages of your career, but the common mistake most beginners
make is being too obvious that they are copying trends and contents from other
top sources, which is not very smart.
Sometimes obvious imitations can
negatively affect your service rankings and indexes on notable search engines,
Bing and it can also reduce organic engagement, because
people would notice that your contents or services are merely duplicates.
If at all you choose to imitate in the beginning process of
your online career or category, consider these few suggestions:
Imitate only the top online authorities in your
niche (don’t target average or mediocre).
· Try as much as possible to introduce your own
value and style to whatever online source you choose to imitate.
Imitate but don’t plagiarize, this is what I
term “stealth-imitation” (imitating, but not actually imitating).
Let us preview some essential guidelines for embarking on
competition analysis using an analogy. For instance, let’s assume you are
looking to establish a career in online advertising or online marketing:
- Find well-known personalities in these niches,
either on social media or their personal websites.
Review their posts pertaining to anything they
are trying to market or sell to their audiences, whether it is a webinar session,
or online course, anything that seems like marketing or advertising. Normally posts of high-end personalities (relating to marketing, advertising, etc.) often appear
flawless and enticing with advanced media effects, due to some manner of professionalism applied. Therefore, it would be difficult to point out a
- However, the goal is not to point out faults, it
is to see how you can adopt the same standards and add your own customizations
to make it appear unique.
- These customizations can often task you to put in
more effort in making your marketing video or pictures better.
- Here are some ideas: combining cultural pieces with a modern piece can become more appealing to audiences from your nativity, while simultaneously accomodating those who are non-natives. Another aspect of customization to also consider is adding a historical blend to a
contemporary trend; this way your content can have a nostalgic feeling that
could stir-up people’s emotion towards engaging with your piece, because
sometimes people enjoy reminiscing about past events in one way or the other,
either through stories or video content.
ingenuity relies heavily on your customization ability or creativity.
Another point to note is that, less imitation of top
authorities in your business niche can eventually enable you to identify a fault in their
campaigns, which you can fix or improve.
This may appear advanced, but carrying out basic analysis on
your competition before establishing your career does not require you to be an
expert in any analytical field, it just pushes you to become more technical, in
order to navigate your market easily and engage more with your target audience,
without being perceived as a duplicate.
Learn how to Invest
This is another technical aspect for starting an online
business. At the initial stages, keep in mind that you don’t want to throw
money where it is not needed or necessary, you can easily get scammed or your
business can be hijacked, because it is the internet, cybercrime is still
possible, so careful thinking is important.
The proper action to take is to learn how you can spend your
investment capital on trusted tools or online services that could grow your
business and maximize your
Objectively 75% of businesses fail because of careless
and extravagant investments procedures and this is often as a consequence of
inaccurate research analysis or data.
For the sake of clarity, I am not emphasizing on gathering
accurate research data on your online market or niche, which you should already
be including in your schedule, owing to my previous explanations. What I am
laying emphasis on is learning how business investments actually work in
relation to your career choice.
For example, if you
want to be an online fitness coach and instructor, conduct research, read
trusted articles or e-books about how much capital is needed to actually
start-up an online coaching session, and how much profit or
ROI should be expected
in the long run. To quickly recap, in the beginning, we mentioned a five to six
years financial prognosis every new business owner should consider, this
is a very vital approach, because it motivates you to have a vision of what is needed and useful to maintain your business potentiality and
Having a Standard
Computing System and Hardware Accessories
This is the first logistic factor to consider before
starting an online business. Appropriate execution of any online business
idea functions with a standard computing system. Mobile devices are not
effective in providing you a professional online experience, irrespective of the
specification or brand.
Let’s assume you already knew this, the question now would
be; what other accessories do you need to stand-out as an online business professional?
This would depend on your career niche or your online platform.
If you want to
start an online business in the
Self-improvement market through
YouTube channels, or through creating
Webinars, then you need to
invest in a camera, a tripod, and a microphone for audibility. If you cannot
afford a camera at the moment, then ensure your mobile device have a
high-quality pixel to capture images and record videos efficiently.
If you want to pursue an online career in
affiliate marketing or online advertising, then a good desktop is practically all you
need, it does not have to be high-end, but it should definitely have a good processor of about 2.3 GHz to 3.5 GHz for speed and its RAM should be between 4GB
to 8GB with 500GB to 1 TB hard-disk space, to maximize storage of information
and software tools needed for your work. These computing specifications are
quite basic, but as you advance in your business, there is always room to
upgrade your hardware logistics.
Know the Legal
Requirements of Each Online Business in Your Location
Employing good technical research about the legalities
concerning any online business is very important to ensure that your location
or state finds such business reputable or lawfully compliant.
If you are planning
to start your online career as a sole proprietor, or a corporation (with a
business team), then you can learn more about
what laws are applicable. Each law or legal requirement varies from one location
to the other, so this is fundamental to know what type of online business or
niche is suitable for your state, to avoid being constantly apprehended by
security agencies. These legal researches also include; tax laws, and licensing
(if you are an e-commerce vendor or seller).
Setting Up a Good
This is another significant
business technicality to
consider when starting an online business. If you plan on setting up your
online business from home then your homeowner’s insurance policy needs to be
updated to include any equipment or computing tools you would need for your
Property insurance can also help to safeguard your home and
business inventory in the event of any mishap.
The most important is also getting liability insurance to
avoid any unforeseen lawsuit in the future, this is very important when dealing
with people online.
Have Essential Online
Tools and Software
This is necessary for your business logistics, investing in
quality automated tools and software for your online business expands your
potential and increases your success. You might not be a computer expert or
tech genius, but you can always read articles and reviews on new and updated
business tools and services that can be useful in terms of, increasing your
organic traffic and engagements, maximizing sales and ROI with automated
sales funnel, creating a good auto-responder or e-mail newsletter so you can
provide your audience with updated information or services, etc.
Quick Disclaimer, do not invest in any untrusted automated
tool or system that is built to manipulate and abnormally increase your
targeted audience, or automated robots that perform your duties while you
sleep. Such tools are usually harmful and are contrary to the privacy policies
of notable social media platforms or online networks. It puts your business website or social media page at risk and it can be easily terminated once flagged.
If you want to know more about good and affordable tools
that can help your online business reach thousands of targeted audiences and
customers, you can see my review on
Audience Toolkit for Online Marketers