In 2006 the global population had reached 5 billion. World statistics reveal that by 2015, there will be 7.1 billion people living on earth. By 2024 research evidence further suggests that the population growth will reach 10 billion mark.
An increase in world population goes hand in hand with the demand for goods/products/services. Every day, 7.1 billion people consume, food, need shelter, furniture, home tools, shoes, dresses, trousers, jackets, computer/TV games, school bags, stationery etc. The suppliers of these commodities are manufacturers, distributors & retailers. Therefore there will always be a need for business entity to supply consumer products to meet the global population demand.
Statistics and facts about online shopping
Online shopping is a form of E-commerce which allows consumers to directly buy goods or services over the Internet. It’s thriving market. E-commerce sales worldwide amounted to 1.08 trillion U.S. dollars in 2013, it’s expected to show growth of up to 2.48 trillion U.S. dollars by 2018.
According to a 2015 study regarding mobile shopping, 46 percent of internet users in the Asia and North America had purchased products via a mobile device, whether smartphone or tablet computer.These research findings reveal that there’re lucrative money making opportunities now & in future.
People need products & services to satisfy their needs, weight loss, health, children toys, games etc. The online shopping industry has become huge and growing everyday. Broadly speaking, the internet has provided opportunities to consumers (make goods available for consumption) and entrepreneurs ( life time business opportunities). Modern technology now provides your business with plenty of brilliant ways to market & connect with the public.
The Internet is an essential tool to promote any business. It offers a large variety of marketing options to suit every pocket. In addition, the Internet offers you the opportunity to reach a specific target market, to get customer feedback and interact with clients, to launch new products and to further build your brand.
Is online business viable business?
Most researchers agree that consumers will eventually buy more goods over the internet in some
years to come. Therefore opportunities to build business online are enormous. As long as a child is born every second, there is a need to cater for that child, manufacturing of goods, transportation and selling. That’s a fundamental reason for existence of a business. It’s indeed a viable and lucrative project, if done correctly & according to sound business methods.
There are genuine concerns that the internet business is saturated/not viable, and that there is no way one can generate money in it. I’m not sure, my experiences are that when you search for this topic in Google you come up with million claims of building online business, subsequently making huge profit. My opinion is that internet business is similar to the one operating offline. It’s a business like any other. Don’t get distracted in your goals, find genuine information of how this industry operates. You can simply ask financial/business experts offline. They will tell you, exactly what internet is all about.
Lets get started
How to Choose a Business (choosing a niche)
Two things you need to consider when YOU decide to choose a lifelong, successful business, i.e. your skills & interest. The purpose is to choose a niche. A niche is a small specialized market segment, e.g. computers, (large market), computer accessories (secondary market), HP computer accessories (niche). By deciding on a specific niche, you’re embarking on a journey to choose a business model
It has been proven time and again that the most successful businesses are those that the owner is personally interested in.
Firstly, you can’t start something you aren’t interested in. If you don’t like soccer, the possibilities of success are slim, since you have no interest in that hobby. Any single item you try to sell, buyers will not be interested. Put yourself in their shoes, if you don’t like something, another person doesn’t like it as well. It boils down to interest.
Therefore choose something you like most, something that triggers your interest. People online say, you must sell products with high affiliate commission. They forget one thing, you’re not promoting money, but you are promoting a business, business you choose based on interest.
Some people call this “choosing a niche”
Secondly, your skills – skill means capabilities, strengths. What are you good at?
- Computers programming,
- Software developer,
- Teaching, coaching,
- Creativity, design,
- Building things,
- Leading, coaching,
- Managing others etc.,
- Writing/communication skills (writing articles, posting online, commenting on other people stuff etc.)
- Forex trading (stock market shares)
You need to look at you list of skills, what you’re good at, and what you’re not, how to learn/improve on those you don’t have.
Basically, the combination of your interest & skills (what you like, what you’re good at), will go a long way in choosing a successful business. Below is a video of how to choose a niche using Amazon platform.
Now that you have chosen your business venture, you need to create a website.
This area can’t be overemphasized, your website is basically your location/online store.
Your business not only needs a website, it needs the right type of website. Remember that your site’s purpose is to generate sales.In order to begin selling/offering something to global audience, you need a location, where they can find you.
You need to plan the site structure before you build it, so that, it best meets five goals;
- Discoverability – easy to be found by customers
Your site must contain the following elements;
- Home page
- Landing pages
- About us
- Contact us
Why own your website?
There are myths circulating online that you can make $ 1 0000, 3 000 even more without a website. How can you generate such huge amount without buyers visiting your store and purchase goods?
Someone may argue that, affiliate marketers are selling merchant goods without sites. I need to warn you, I was an affiliate marketer myself. Take for example someone, going house to house giving Amazon pamphlets to people, telling them to buy Amazon products. Your pamphlets, recommendations will end up in trash can.
Advantages of creating your own website
The following are the advantages:
- You’ve full control of what appears on your site
- You can create 1,2,3,4,5 websites about different products
- No need for web design knowledge/skills, unless you want to design websites for people
- You can change site appearance the way you like
- You add/delete products
- You have one on one interaction with your buyers
- You ask buyers to leave comments about your site
- Google likes websites with daily activity to rank high on its search engine
- Amazon/Commission Junction or other affiliate networks require you to have website before approving your application to partner with them.
Your website is a must have, make no mistake about that. If you’re serious about building online business, create your own website. WordPress.com has made this part very easy. You can create a website using WordPress platform, it’s quick and easy, doesn’t cost you a dime, it’s free.
Below is a video of how to create a website quickly using WordPress.
How to Choose & Register a Domain Name
Choosing a domain name is an important decision, as your web address is a crucial part of your brand and might appear among billion sites. Even though Google indexes the entire content of millions of sites, the domain name of it is still the clearest guide to relevance. If users searches for “HP laptops” and the domain includes those words, there’s a strong possibility that it is relevant to that user, so Google will place it higher up.
The top – level – domain (TLD) is the final part of the web address, such as .co.uk, .com, .net or .org. if you’re aiming primarily at the United Kingdom market, it can make sense to choose .co.uk. For international audience, consider .com. Some web addresses are already taken, as you can see below http://www.makemoneyonline.com has been taken by someone else. It’s not available.
But the one below, during my search it was available
Please be careful, the web address I have choosing was just an example. You need to choose a web address that contains relevant keywords to your business you plan to build, e.g. www.hpcoreicomputers.com. During my search at Godaddy.com, it was available. The web address is specifically aimed at building business to sell hp computers with corei processors, because users believed that they have high speed processing function.
If a web address is available you can purchase it at either Godaddy.com or Namechip.com. Besides the two domain registration companies, there’re many other which you can do the same. You have a wider choice.
Where to host your website
Choosing a base for your business used to mean selecting a shop/office. An online business interacts with its customers via internet.
Web pages are made up of text, image and media files that are stored on a server and viewed through a browser. Your site is a document that the server opens, and it needs to be stored somewhere so that anyone can access.
You have a choice where these files are stored and served. Godaddy.com or Namecheap.com offer web hosting service. At Namecheap.com you can register any available domain in their platform as well as host it there. You can register a domain and host the same domain elsewhere, if you like.
Factors that affect what you can and can’t achieve with your website include speed and reliability of the server, types of content it supports.These companies have outstanding reputation in web hosting services. Again, you’re not confirmed to the two companies, there’re many other you can choose to host your site.
How to create content for your website
Content Management System
Content Management System (CMS) is a ready-made system that enables you to create and edit a website without a need to code it by hand. Once installed on your web server, it can be used to set up and edit the appearance, content and capabilities of your site.
Content management systems are:
- Quick to setup and run in few hours
- Extendable through plug – ins
- Reliable and continually updated
The three leading role players in content management are WordPress, Joomla, and Drupal. All three are open source, free and written in PHP, meaning they will work with most web hosts. If you’re looking for the most fully featured CMS with best support for multiple authors and detailed user management, choose between Joomla & Drupal.
WordPress is simpler to install. It has wide range of plugins available that extend its functionality (shopping carts), and there’re thousands of themes from various developers. They are free to change its look and feel.
When you start to create content, you need to undergo a bit of research, it’s like creating a layout of your store, positioning your goods properly. You should try to impress your customers about your store layout, where to find goods etc. Give yourself time, think about it. Creating content is not once off event, it’s a process.
Content creation is going to be your daily, weekly, monthly & yearly exercise. This is the most difficult moment in the life of an internet marketer. Your business is good as dead if you don’t give it this part of essential valuable effort. You’ll spend the rest of your time creating content online. The reason is simply, telling your customers about products/services you sell. Thus content creation or management is the lifeblood of a website
The do’s and don’t of financial success
We all want to be successful in one aspect of our lives or another., however, there are certain things that may prevent us from achieving that success and, at times, we may not even be aware of these pitfalls.
Don’t let fear control your life or stop you from doing the things you really want to do! Yes, fear is a very real emotion and we all feel it from time to time, but if you want to be successful, you need to embrace your fear The first step to conquering your fear is to face it head on and to define exactly what you’re afraid of.
Fear comes in many forms but, at the end of the day, it’s how you use your fear and what you do to overcome it that counts. Consider the following. Are you planning to start your own business?
Then perhaps you’re afraid of:
- Quitting your job and taking a chance;
- What your friends and family will think when they find out;
- Being turned down for funding;
- Being told your idea is not good enough;
- Spending time, money and effort only to watch your business fail.
All these fears come from the fear of failure. However, how will you know if you’re going to fail unless you actually try? By allowing your fear to prevent you from doing what your heart desires, you are allowing yourself to fail before you even start
Conquer your fear by replacing negative emotions and thoughts with positive ones. Don’t always expect the worst. Plan for the best. People who achieve success also feel fear, but they never allow it to stop them from doing what they want to do.
New experiences are always scary, but the more you face your fear and do what you want to do despite your fear, the more you’ll grow and achieve.
Too much planning
A stumbling block that hinders many people is planning. Now, that may sound surprising, but the key to anything is moderation. Of course, you should make some plans and you need to know where you’re going and what you want to achieve, but don’t overdo it! Too many people get bogged down, because they spend too much time planning and they never actually do anything. They are waiting for the perfect time to take action, or for the perfect person to get on board with their idea, however, what they fail fail to realize is that nothing is ever perfect and hardly anything ever goes according to plan.
Successful people don’t like to think and plan too much – they like to take action! So whatever you want to do or achieve, remember that planning is important, but it is just as important to make a start!
Don’t let rejection get you down
Just because one person says “no” doesn’t mean it’s the end of the road for you. In fact, every person on the planet will face rejection at some stage in their lives. It’s simply part of the process we call “life”. The trick is how you handle it. People who have made a success of their lives don’t allow rejection to ruin their hopes and dreams. They realize that just because one person doesn’t like what they have to offer, doesn’t mean that everyone is going to feel the same way.
Don’t give up
At times, life will get you down. People will tell you that your ideas aren’t good enough or that you
should try something else. Don’t listen to them! Don’t give up and don’t ever stop believing in yourself. If you know that you’re doing the right thing, if it makes you happy and if you know you can make a success of it then, by all means, keep going.
In most cases, success won’t appear overnight. However, this doesn’t mean that you won’t get there in time. The good news is that success is not reserved for the lucky few. It’s there for whoever wants it, you just have to reach out and grab it. If you believe in yourself, if you are determined and persistent, if you aren’t afraid to do what it takes and if you take decisive action now, then you will reap the rewards of success. It’s only a matter of time!