Business 101: How To Become An Internet Entrepreneur
Imagine full control over your business and schedule and direct access to a global customer base. Envision endless channels for marketing and expansion, with minimal expenses.
This defines the work environment of the internet entrepreneur.
But how do you use these factors to your advantage?
Continue reading and you’ll discover how to become an internet entrepreneur with a few simple steps.
1. Research and Preparation
Before you get started, you must specify in detail what your business will be. Do some market research to find out which businesses are doing well.
Browse comment sections and forums to see what people want and how they spend their money.
Use Google Trends to find out what’s popular right now, and see if you can find unexploited frontiers.
Find Your Niche
Forget about the oversaturated Internet bazaar of generic retailers. Make your business stand out!
Think about what makes your business unique, memorable, and worthwhile. What makes it a better choice than potential competitors?
The more unique your service or product, the less competition you’ll face, and the less you have to worry about price wars.
Success as an entrepreneur boils down to satisfying a need or desire that people have.
It means delivering value, something that makes their lives better. That’s how to become an internet entrepreneur.
Copying a “successful formula” just for a quick buck won’t get you far. At best, you’ll see temporary gains before you have to start over from scratch.
Besides, wouldn’t you rather do something you care about?
2. Business Plan
Make a plan and work toward it. Forget the “get rich now” hype. You’re in this for the long haul, working toward sustainable, reliable long-term growth.
How can you reach your goal if you don’t have one? Define your goal, business structure, and marketing strategy.
Stay focused and prepared. A solid plan helps you remember how to become an internet entrepreneur.
Determine how much time you can set aside, and how much money you’re willing to spend on your business. Set a minimum and always meet this requirement without excuses.
See if you can create more time for it by sacrificing other activities. Entrepreneurship is all about dedication.
Plan for Expenses and Revenue
Let’s talk business and money. This is where you need to focus your planning efforts.
Figure out how much it will cost to run your business, including web hosting, raw materials, attending seminars on how to become an internet entrepreneur and more.
Consider anything you will need to keep the business alive. Don’t forget about taxes.
Next, decide how much you’re willing to spend on top of this. Make a budget for each extra cost you think you’ll pay.
Examples would be advertising, web design, copywriting and coding. Budget for any extra services and resources you’ll want to buy to help your business.
Now for the end goal: Income! It’s time to decide how much money you will get for each sale.
Don’t be timid and undervalue your business. Ask for as much as you think you can reasonably get.
Research similar products and ask people what they think is a fair price. Why settle for less than customers are willing to pay?
Make your business worthwhile and lucrative.
Focus on Value
Remember this is not just another job. You’re not throwing something together just to be “good enough” to earn your salary.
Focus on quality and function first and foremost, it’s all about what you deliver and how you do it. Focus on why people should pay you. Take your business seriously and be the best choice.
Choose Your Platform
Before you get to work you must decide on a platform for your business, and marketing platforms. The easiest way is of course to research what works for others.
One thing is certain though: a blog will greatly boost your business.
Depending on what service or product you’re selling, you can start small. Use an established platform. (e.g. selling on Etsy or eBay, offering services on Craigslist) to boost your legitimacy and audience reach.
This way, you can see if there’s a demand for your business, without making risky startup investments.
For affiliate marketing and digital products, however, you’ll want to go straight to running your own website.
3. Getting Traffic
Once your business is up and running, make it your top priority to get traffic. More exposure means more visitors to your site, which means more potential sales.
Getting plenty of traffic is a crucial part of how to be an internet entrepreneur.
Make Your Site Attractive
Come up with a good domain name, as this will help people find your business. It should be relevant and catchy enough to grab people’s attention and stick in their minds.
Make sure your page is user-friendly and looks good. Lead the customer to the purchase with efficient design.
You won’t be taken seriously with a buggy, unprofessional looking website. This will scare potential customers away.
Stay up-to-date with a mobile-friendly site. It’s no longer optional if you want solid sales and rankings.
Reel Them In
You must develop SEO (search engine optimization) skills when you’re learning how to become an internet entrepreneur.
I’ll teach you how and why you should optimize your website for the best SEO results.
You’ll also want to expand your reach by creating a social media presence. This creates more inbound links that help customers find you and keep them coming back.
So you’ve got your business up and running, and it’s becoming profitable, but you’re ready to kick it up a notch. Here’s how.
Adapt to the Market
Learn from your customers! Look through comments sections and forums. Pay attention to what people think of your products and what they wish for.
Go over your services and products. Focus on those that make the most money, and weed out ones that don’t sell.
Revise your original plan once or twice a year and improve on it. Stay up-to-date, and never stop learning and growing as an entrepreneur.
Want More Tips on How to Become an Internet Entrepreneur?
You have now learned the basics of how to become an internet entrepreneur. Stay tuned for more, and check out my blog for much more information on related topics.
If you’d like to talk about how to boost your online business, or if there’s something I haven’t covered that you think is important, contact me!