We all have crazy late-night business ideas all the time. We all have some talents that we think can create something that has not been created by anybody else yet, or which we think is unique enough to make a difference. I remember spending all the data from my Cox internet deals, searching for a success formula to start my own business.
The digital marketplace has expanded like crazy since then. One of the reasons for the success of e-commerce businesses is the availability of such a huge platform (the whole world!) within your reach. There’s no shortcut when it comes to establishing something new, but there sure are lots of ways to adopt which would help you put your feet on firmer grounds.
You just have to be a little smart. Here are a few tips that won’t you a millionaire overnight, but will surely help you in preparing a clear roadmap for your journey.
- Know Your Competitors
- Plan in Advance!
- Own an Online Space
- Know Your Target Community
- Take Advantage of Social Media
- Focus on Product Quality
- Work on Customer Service
Let’s dive in
Know Your Competitors
Even though it feels good to think that your business idea is the most unique thing anyone could ever come across, you should be realistic enough to understand that it isn’t. Do your online research and see what similar products are already being offered in the market. That way, it would be easier for you to set a target audience for your product. Remember, you have an online friend named Google, and it would hide nobody’s business from you (literally!).
Also, remember that competition is not a bad thing, and you can use it as a parameter to measure the quality and sale feasibility of your product. If others can sell such a product, so can you!
Plan for the Worst
Robbins Research International surveyed 524 business owners and entrepreneurs from the Tony Robbins Business Mastery alumni group and found out some eye-opening information. The Business Mindset Report shows that most business owners (77%) believe they will be able to grow their business through the next recession, even though they are less sure about how they will do so.
Plan in Advance!
You’d be surprised by how helpful this would be! And I’d be very surprised if anybody tells me that they have a million-dollar business idea, but no attached plan to execute. Very much like erecting a building, you have to set a foundation for your business too. Without it, your business will have no direction to follow. Your product can suffer from a lack of planning in the long run, even if you manage a good start for it.
Also, in the worst-case scenario, you will have a map to stick to.
Own an Online Space
Q: what is the best place to hide a dead body?
A: The second page of Google Search!
Got it? You need to get it to succeed. To mark a good place in the online community, your business needs to appear on the first page in Google search. Otherwise, it is too risky to stay. Your online presence means too much in the starting period. This involves developing a website and creating quality content to increase traffic.
Know Your Target Community
No, that doesn’t mean you have to be a part of every local event. This is the beauty of running an online business. All your events and people who are your potential buyers can be reached from your home. You need to know the category in which your product falls. Admit it, your product is not for everybody. It is wise to know which people to target, and be a part of that community. This can be achieved by using social media effectively.
Take Advantage of Social Media
Remember one thing, when it comes to online businesses, social media is your best friend. You should know how to take advantage and make the best possible use of the available resources like Twitter, Facebook, and Instagram, etc. See which platform best fulfills your needs and tailor your content to target potential customers effectively. That is your best possible shot to become a part of the community where you want to sell your product.
You can hire social media influencers to do the job for you. There is also helpful SEO software available which can help you a great deal.
Focus on Product Quality
Your marketing strategies, social media campaigns, research, all can go down the drain if they are not backed up by quality product manufacturing. When you are done with all the necessary steps mentioned above, only then you can focus on your products. It is very important to maintain a standard and match your product quality with the one you advertised.
Work on Customer Service
So, you are done with the marketing, and the product too, but how to know about the feedback of your target or potential customers? There is only one way. You have to build a sound customer service for your customers to reach out to you. Their feedback and queries will lead you to the betterment of your product quality, resulting in the improvement in your business revenue growth.
Whenever I have a query related to my internet data usage or I’m looking for new packages to subscribe to, I simply search for ‘Cox near me’, and usually, I get all the help I need. This is how good customer care services should work.