You did it. You just had your 'ah-ha' moment; your first online business idea. Even better, it's a completely online - work from home - type of business idea!Let your feelings about this new idea soak in and bask in the excitement and obsession of your desire and the possibilities ahead.
Take a moment to ask yourself what you are feeling: excitement and pleasure, fear, certainty, uncertainty, curiosity, determination? If passion is at the forefront of these feelings, then you've found the fuel to fire up and grow your business idea.
You're bursting at the seams with passion and you have a cutting edge idea. Now what? How do you transform a thought into a tangible and profitable online business? If you are like many new entrepreneurs out there, you may be thinking "holy moly I don't even know where to start". Well lucky you for, this is where my 5 steps to launching an online business come into play!
If you are excited to launch your own online business but don't know where to start, use these steps for guidance:
1: SMP Brainstorming Session
(What are you olving, who is yourtarget Market, what will be your). This is a HUGE first step and is quite essential when it comes to creating your own online business. Let's use this example: You've been creating glorious dishes in your kitchen lately that almost look like pieces of art. Your friends come over for a dinner party and gush with enthusiasm how delectable your plates look and how wonderful the presentation is. That gives you an idea: a food blog dedicated to creating dishes that look like art. Sweet! Now, take a day (or even weeks) to do some major SMP brainstorming.
What will you be solving? In my example, maybe there is a need for a food blog dedicated to creating dishes that resemble masterpieces. Maybe there are many people out there who have an absolute love for cooking and want to be inspired by dishes that are visually appealing. Think about what you will be solving with your business idea.
Who is your target market? When starting a business, this is a crucial first step. You need to know who your audience is or who you will be essentially selling to. Once you finalize this - this can dictate everything moving forward with your business, from the branding, the color scheme, and the copy of your content.
How will you profit? From my example, it may take quite a while to start building a profit from a food blog. Even so, you can still make a pretty penny. Think about HOW you will create a profit from your online business. It could be selling ad space, sponsored posts, recipe development, and even online products.
2: Finance
Before you go forward with any sort of action or strategy for your business. You need to sort out your finances. Write down a list of capital or business needs and estimate your cost, or investment. Lucky for online business owners, you don't have to worry about rent (yet) or any high risk investing. Some financial decisions to take into consideration when creating an online business can be: your domain name, your web hosting, your web designer, a virtual assistant (down the road of course -you need to hustle first, girl!), and even online advertising.
3: Digital Ownership
Now that you've done the brainstorming and the financial plan, it's time to take digital ownership. This means: securing your domain name and similar domain names. Snatching up the perfect social media handle (if it can be the same across all boards, the better), and searching the trademark directory.
4: Lead Magnets
This is KEY to building a list and client base when you are ready to start selling a product or a service. You need to start thinking of lead magnets, or "freebies" that you can offer on your new website ASAP.
5: Strategy
Now that you've got your basics covered, it's time to create a strategy and TAKE ACTION! When I create my own strategy, I get out my calendar and make timelines for myself. I set my timeline for my end goal, and then create smaller goals leading up to my end goal with deadlines attached. I then create a strategy for my development plan, marketing plan, and more.
Once you've got your strategy in place, it's time to TAKE ACTION.Thirty minutes a day to launch your online business idea is all it takes to get started!
What online business are you starting? Share in the comments so we can come check it out and support you!
About the Author
Sarah Baker is the founder of BalancedBabe.com and the BeHealthful Retreat series. She is a certified plant-based nutrition and health coach specializing in helping busy women on the go find balance within all arenas of their lives. You can find her on regular morning TV shows, magazines and media outlets educating viewers how to live the ultimate Balanced Babe lifestyle.