How to Start Your Online Business

In today’s modern interconnected world, we rely heavily on the internet for most of our day-to-day tasks. It’s now almost impossible for modern society to exist and get on with their day without the internet. With the internet, it's now easier to connect to family and friends and find anything that you’re looking for.

That being said, there are bourgeoning opportunities online. Making money through the internet with an online business has become easier than ever.

An online business is a kind of business activity that’s conducted on the internet. It can cover selling goods or providing services online.

By 2040, Nasdaq expects consumers to make 95% of their purchases online. This means that competition has moved from the traditional brick-and-mortar to the internet.

Before, conducting business on the internet used to be science fiction. Now, even brick and mortar stores need to have some sort of online presence to compete in the market. There are many reasons why running an online business is better compared to running a traditional business.

Here are some of the reasons why online has an edge:

• Cheap start-up cost. You don't need a big sum to start an online business. You can start lean with just your domain and website hosting⁠(opens in a new tab or window) first. You don't have to pay rent or hire staff to get your business started. Often, you can do everything yourself when you're still bootstrapped.
• Flexibility. Your business doesn't have to close shop. It can be open and accept orders 24/7. You can also be anywhere in the world and still be able to run your business as long as you have access to the internet. This means you can earn money even while you're sleeping.
• Global market. Access to an international market is easier with the internet. You are no longer limited to a certain geographical location. As long as you can ship your products across the globe or deliver your services online, you can serve as many people online as you can.
• Low marketing expense. Spending on traditional marketing is costly. With an online business, however, you can have a ton of low-cost marketing options ranging from social media to search engine ads. Keep your marketing costs to a minimum to get your brand out.
  

There are so many things you can do online! Often, because there are so many options and paths available for you to take, it can be challenging to make a firm decision. If you still want to explore, here are some ideas to stir you up and help you start your new online business:

• Sell your artwork online or offer custom art. Whether you’re a photographer or a painter, you can sell your masterpiece online as prints or canvasses. You can also accept commissions on custom art.
• Teach an online course. This is a great passive income if you’re an expert in a field or topic. Though it takes a ton of effort up front, once the videos are filmed and put up, you’re good to go.
• Offer your freelance consultancy or services to businesses. Use your skills to make money. Whether you’re a writer, developer, or designer, you can get clients by promoting your services through your website and helping businesses with their projects.
• Start a clothing brand. If you are into fashion and already have designs in mind, a clothing company might work for you. Alternatively, you can also use product-sourcing apps like Printful that connect your business to clothing printers that will handle fulfillment for you.
• Be an affiliate marketer. Recommending products and services while earning a commission is a great way to earn passively. You just need to find affiliate programs that suit your niche and start sharing.
• Try dropshipping. If you don’t want to maintain a warehouse of inventory, then dropshipping is a business for you! You can start this business lean by sourcing your items from suppliers that will handle the fulfillment for you.
• Flip your thrifted finds. For those into thrift store shopping, you can resell your finds for profit! Some customers like purchasing cool thrifted items but don’t want to do the hard work of digging through the store. This is where you come in and save the day!
• Sell your handmade work. Crafty people can make a business out of their hobby. Monetize your skill and sell your products online. You can create as many or as few items as you want, depending on your free time, and post them on your eCommerce site.
  

How to start an online business? Follow these six steps to take you from idea to execution.

To start any business, you need to know your niche first. It’s important to figure out what you are willing to provide or sell. Find a niche that fills a need. Does this business idea solve problems? Are people willing to pay for this product or service? Look for trending industries or niches on social media. What are people talking about? Another path that you can take is to find out which niche has longevity. Look into evergreen services or products that consumers will keep buying no matter what.

You can also play by your strengths or interests. Do you have any interests or hobbies you’d like to monetize? How about your talent in caricature or your passion for knitting? Do you have a knack for clothes or design? Figure out which of your many strengths and interest you want to use to make money.

Figure out what you will sell online. Are you selling services or offering physical products? List down your possible products and services within your niche.

With your products or services, you’re solving a problem or doing something better than others in the industry. What your offering should also give you a competitive advantage over others. Using a lean canvas⁠(opens in a new tab or window) can help clarify your niche and refine your offerings to ensure they align with market needs.

After making sure that your business idea is feasible, it’s time to choose a name and make a plan.

Your business name should be unique and relevant to your niche or product. Ensure that your business name is available in your industry, as a domain, and on social media to avoid confusion. More importantly, avoid names that infringe any trademarks. Create a unique logo using Canva’s logo templates⁠(opens in a new tab or window).

Develop a comprehensive business plan so you have a good base. This should identify your market, specify your objectives, figure out your competitors, and show your marketing strategies. A business plan should help you make sound business decisions in the future. This is your reference and the business bible as you go along the entrepreneurial journey.

This is where a lot of the work and magic happens. Your website is your most important tool. Whether you want to start an Etsy shop⁠(opens in a new tab or window) or make your own landing page for your personal brand, you’ll need to create content and build your website⁠(opens in a new tab or window). This is where you need to learn how to set up an online store.

Make sure you have your copy and content ready before you start putting together your eCommerce website. Turn website visitors into customers through effective copy. Make your content optimized for search engines, as well.

Creating your own website can be a tough job, especially if you’re doing it alone. If you’re in a clutch, Canva Websites⁠(opens in a new tab or window) is your go-to tool. Our intuitive platform and website builder lets you create a site without the hassle of coding.

Once your website is ready and you’ve finally figured out how to create an eCommerce website, focus on your pre-launch activities. Build the anticipation for your launch using different platforms.

Get the word out about your new business. Create social media accounts⁠(opens in a new tab or window) to connect to potential customers. Invite friends and family to like and share your new business. You might need to include doing offline marketing, like designing a business card that directs new contacts to your eCommerce website. Announce your business through online ads, social media platforms, email, product videos⁠(opens in a new tab or window), or even traditional ad spots. Use Canva to design these assets, whether these are social media photos⁠(opens in a new tab or window), ad images, email headers⁠(opens in a new tab or window), and others.

TIP: You can create a brand color palette on Canva to make your assets. This will make your brand’s collaterals cohesive and more put together.

After launching your business, you need to keep the ball rolling when it comes to your business’s marketing. Make sure you keep your social media accounts active to stay in touch with your market. Regularly send out email newsletters to customers for updates and new promotions. It’s important to strike a balance between maintaining a good relationship with your current customers while seeking out new business opportunities.

This is also where having an annual marketing plan comes in. Knowing what your business is going to do throughout the year will make this easier. It takes out the guesswork of what you need to do every month or quarter to hype up your business. The longevity and success of your business are also dependent on having a solid and continuous marketing plan in place that will take you from your jump-off point to where you want to go.

No matter what kind of business you’re running, it’s important to imbibe a mindset where you keep on evolving. Be open to feedback and keep an eye out for opportunities to grow and improve your business.

Managing a business is not an entirely passive activity. As the industry, market, and the world change, so should you keep up with the times. A useful way to stay ahead is by using a PESTEL Analysis⁠(opens in a new tab or window) to understand how external factors like politics, economy, and technology might affect your business. Be in tune with the latest in your niche, stay up to date with new marketing strategies to reach customers, and innovate your products and services to serve your clients better.

Though the hard part of starting an online business is over, you need to keep it active for the long haul. When there are roadblocks, keep going and adjust along the way.

From designing your logo to creating your post-launch marketing assets, Canva is your best friend in your entrepreneurial journey. We’re excited about what you will come up with for the world. Now, the question is: are you ready to start your online business?