Coronapreneur: Guide on How to Start Your Online Business

Editor's Note: Take a look at our featured best practice, Five Stages of Business Growth (25-slide PowerPoint presentation). This presentation introduces a framework for entrepreneurs to use when building and navigating their business from a nascent, startup state to an enterprise with a global footprint. This framework, called the 5 Stages of Business Growth, is based on the fact that all businesses experience common [read more]

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If the global pandemic of the Coronavirus has taught us anything, it’s that the world can, to a large extent, function online. People have conducted business digitally for the better part of their most recent quarter with telecommunication and digital oversight. It also demonstrated how likely consumers are to shop online. With an ever-growing digital world, online business has become ubiquitous, and the pandemic has shown us that there is still plenty of room to grow in that business space.

If understanding the presence of an opportunity to start a business online has piqued your entrepreneurial interests, you’re likely wondering, what kind of online business would I even start? There are endless options to choose from and, as seen on 10 Profitable Online Business Ideas, they vary quite vastly. What all these ideas share in common is how any online business starts. Read on to find out how to make the best out of a bad situation and become a Coronapreneur.

Find the Right Idea

What any business, online or otherwise, needs to do is fill a need. Whether you want to sell a product or provide a service, you need to offer consumers something they need. This can be as niche or broad as you want; it just has to have a market. Consider what you’re passionate about, what you excel at, and what you have the drive for. Merge these ideas and you will have the perfect business idea.

Establish an LLC

Not all businesses will need you to form a Limited Liability Company (LLC), but in some cases, it can be wise. For example, if you plan to create a blog or YouTube channel, you don’t necessarily need an LLC. But, if you’re going to create an online store and sell certain products, it may be wise to establish an LLC. As the name suggests, LLCs limit your liability and can protect you in certain legal situations. They also offer some tax benefits. Research further or consult your accountant to learn more about how an LLC can benefit you.

Create A Well-Designed Website

Any online business, operating in any space, offering any service or product, needs a website that is easy to navigate, visually appealing, and fast loading. A well-designed website is critical for any business, but especially so for online businesses. Many platforms offer templates and ‘drag and drop’ website building features. These can be sufficient, but consider hiring a professional to create a superior website.

Create Good, Engaging Content

The content on your website needs to keep people coming back. Your website needs to have good, engaging content to attract traffic and keep those that visit your site coming back. Whether for a blog, a newsletter, or just informative pages on your website, your content needs to be up to par. Use visual aids and eye-catching graphics to go with your useful written content.

Market Your Online Business

After you’ve created your website and set up the infrastructure for your online business, you need to attract customers. The most difficult part of launching an online business is getting it noticed and driving traffic. Luckily, there are endless ways to market an online business. You can use Search Engine Optimization (SEO) to garner organic traffic from searches on google, create a network of backlinks that have users on other sites navigate to yours or use social media and powerful influencers to promote your products and services. Even consider Pay Per Click (PPC) campaigns which can be cost-efficient ways to increase your brand’s visibility and recognition.

Being your own boss has countless benefits, and the sense of achievement of creating a successful business is unparalleled. While it can be a little difficult at first, and at times underwhelming, if you persevere you are bound to succeed. Put as much effort as you can into creating a professional online platform and customers and clients will be sure to follow. Embrace your inner businessperson and go out and become the next big Coronapreneur.

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