An online business is the modern day dream of many people because of the personal time freedom that it can offer.
In this article we will go over the basics steps of how to start your own online business:
1. Products To Sell – First of all you will need to decide what products you will be selling to your customers. Also you will want to decide whether to sell your own products or promote the products and services of others as an affiliate.
Either way works well, but if you are just starting out then the affiliate marketing route might make the best fit for you.
Also, with an internet based business it is an excellent idea to sell information products in the form of ebooks, video and audio courses. Digital items like this can be downloaded on the internet and sold an infinite number of numbers. Where as in a traditional offline business you are restricted by the amount of clients you can serve and the amount of physical stock that can be shipped through the mail.
2. Create A Business Website – The next step to making money with your own online business is to have a website from which to sell these products and services.
The main pages you are likely to need will include the sales presentation, a lead capture page, and perhaps a company blog.
The sales presentation works to convince your visitors to buy your product, and the lead capture page enables you to first capture the email address of your visitors before they see your sales page. This way you can follow-up via email to convince them to buy in the future.
The blog section is optional but is an excellent idea because it enables you to post value added content and share it with your subscribers in order to build trust and relationship. This will make people more likely to want to buy from you in the future.
3. Sales Funnel – When you start your own business in the internet marketing world, you will want to provide a range of different products and services to offer your clients.
Many people make the mistake of just selling one product, but you are leaving money on the table that way.
In order to maximize customer lifetime value it is a good idea to provide a range of more expensive products that the customer can purchase from you via your sales funnel. This process will usually consist of a low priced front end product to get people through the door, and a high ticket backend products (live seminars, personal coaching, done for you services etc work well for this) for those big commissions.
The majority of profits with internet marketing tend to come from the high ticket backend products and not the initial front end offering.