Things to consider when starting an online business

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Things to consider when starting an online business

We now see so many online businesses springing up in Africa, so many start-ups making it online. With a good idea, a laptop, and an internet connectivity, individuals and groups now make money online.

However, when starting an online business, there are a lot of things to consider. You also need to remember that some of the things that are obtainable in a physically-located business are not obtainable in an online business.

And so, for those who would like to start their own online businesses, there are certain things to consider.

  1. Write a business plan: your business plan is essential. You need to understand certain aspects of your business and plan towards them and know what to change or adjust. With a business plan, you understand the profitability of your business, a business plan aids in getting investors for your business, it helps to plan well, it helps to identify risks, it can also help you track some milestones, and so on.
  2. Know your target personas: one of the key things in having a business and not just an online business is to know who your target personas are. Who are the people your products or services are targeted at?
  3. Don’t forget about customer service: customer service is very important, even though your business might be online, you still need to relate with your customers one way or the other. In addition, your customers need to have a good customer experience whenever they come in contact with your online business either through your website, your social media channels, etc.
  4. Don’t forget your digital marketing: your digital marketing has to be up to par as well. You need to take into consideration things like SEO, social media marketing, email marketing, content marketing, and so much more.
  5. Build a functional website: also, you need to build a functional website. Not only a functional website but also one that will be attractive and reader-friendly. Since you do your business online, you must make sure that your online platform is easy, functional, interactive, and attractive.
  6. Listen to your customers: with digital marketing, you have the advantage of listening to what your customers are saying or what they want easily. There are so many social media tools you can use for that.
  7. Take care of your legal aspect of your business: don’t forget to register your domain name and business name. In addition, you need to understand taxes and how you will be paying them as a business owner.
  8. A good marketing strategy: you also need to have a good marketing strategy for your online business. A good marketing strategy will include your marketing goals for your business, both short term, and long term ones.
  9. Take care of your payment online: your online payment system should be taken care of as well. You need to have a functional and secure online payment system for your customers.
  10. Give adequate and reliable information: information in your ‘about’ page, ‘management team’, ‘contact’, and so on need to be accurate. All these count in one way or the other for your business.
  11. Don’t forget about accounting: you also need to make sure your accounting is taken care of. It’s either you do it yourself or you hire someone to help you with that.
  12. Be social with your customers: one of the things to note about ‘online businesses’ is that you need to be social with your audience. If you are not social with them and all you talk about is business and business, they might get bored or disinterested. You need to engage with them online.
  13. Don’t ignore your statistics: track your online business growth and don’t ignore your statistics. Know what works and what doesn’t, and fine-tune to suit your online business purposes.

Do you know other things to consider when starting an online business? Please share with us in the comment box below. In addition, endeavor to like and share this post. Thank you!

 

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