Since everybody is staying at home due to the quarantine extension, this is an excellent time for aspiring entrepreneurs to launch an online company. After all, the Internet's power provides tremendous opportunities for those seeking to start their own business.
To create a successful and profitable online business, here are the most important steps.
Choose a profitable product or service
All kinds of businesses start from one thing: an idea, hobby, or passion that turned into an opportunity. The first step to creating a business is knowing what to offer by researching and identifying the pros and cons of the product or service. See to it that the product or service has an existing audience, thereby proving its potential in the marketplace. An important reminder: do not jump on trends, fads, and bandwagons that are deemed fleeting.
Build the core strengths of an online business
With an online business, the non-negotiables are a website, an email list, and a good social media following. A clean and simple website should make the business’ credibility available for all to see online. An email list, on the other hand, comes in handy for marketing needs. Lastly, a strong social media presence is essential to further widen the brand’s reach thereby converting followers into customers. Identify the top platforms used by the target audience and prioritize building a great following in those same platforms.
Keep the audience engaged
A strong social media presence is the result of a great following and engaging content. Keep in mind that an aesthetically-pleasing Instagram feed can have a lot of followers and likes, but the goal is to keep the followers coming, retain them, keep them entertained, and most importantly, entice and convert them to becoming customers. Focus on posting engaging content about the business that they will not only like, but also share and comment on.
Establish a wide network.
A vast network is crucial when it comes to starting a business. Start building a relationship with entrepreneurs, suppliers, and even couriers by joining groups, events, expos, and online caravans to know the in’s and out’s of the digital landscape. In these trying times, collaboration, not competition, is key to the survival of a business.
Get the right connection.
The right connection matters -- literally, in the case of online businesses. What good is an online business without a reliable and stable Internet connection? This is where PLDT Home Biz comes in. Get a strong Internet connection with affordable PLDT Home Biz Plan, plus access to a wider network through readily available ecommerce solutions that come with each subscription and virtual trade expos that PLDT Home Biz provides in partnership with the Department of Trade and Industry (DTI).
With many people starting their businesses online, the need to stand out and get the attention and loyalty of an audience seems difficult, to say the least. But with the right tools and a solid foundation, any startup online business has the potential, not only to survive, but more so, thrive.
With PLDT Home Biz, anyone has the power to create a successful home-based online business. Find out more at www.pldthome.com/biz.
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