Happy Independence Day 2014 from the design wizards at Inside Design Orlando. We are all proud to have been born in America and appreciate the freedom we enjoy in this beautiful country. We hope all of you will enjoy a holiday filled with joy and loved ones close by.
Starting an online business venture:
This is also a great day to start a new business you may have been thinking of so let’s discuss ideas for a great new beginning.
When deciding on what business to choose, it is good to remember that most online buyers purchase a product or service based upon only a “brand name”….this is because that brand has spent time developing their brand, online and in other marketing areas. Customers feel comfortable purchasing from this well-known entity as it is something they have come to know. This is why marketing your brand early, through ads, social media and any other avenues available to you will pay off big later. There are many online resources, and magazines offering free advice for new entrepreneurs, such as “Entrepreneur Magazine.” Make use of all online educational material as you begin your journey. Tap into your own social network such as LinkedIn or Facebook to get free feedback. Ask for other opinions.
If you are not familiar with marketing strategies, you can do some online research. This will put you on a good path. Before proceeding, be sure to research the requirements for your product or service based upon your location and what licenses may be required in your area. Stay clear of choosing a complicated or highly regulated business model, like food or medical supplies, and stay away from anything illegal. It is not worth your valuable time and exposes you to high risk. Pay your taxes required and be professional at all times.
Follow your passion:
Choose a business based upon what you know and love. Most new business owners depend upon their passion or interests as they begin a new venture. If you choose a business based upon your own talents and passions you can’t lose. You have two options for new business: First, you could sell services online or you could develop an E-Commerce site and sell products online. Will you market only from home, country or globally? Selling on-line requires an e-commerce site which requires a virtual private server, a payment portal and if you make credit card transactions on our own server you’ll also need a secure server certificate (SSL Certificate). These items will require a few hundred dollars per month which will increase the cost of your new online business. Offering a service online however is less complicated and normally less expensive to start.
The first year in business is always the most difficult and new business owners should not expect revenue to be generated the first year. They should spend this time marketing the new product or service and learn the ins and outs of being a new entrepreneur. Determine your brand difference or simply stated, “what sets you apart from your competition?” Understanding this will mean that you have to spend time on competitor’s sites to learn their methods and marketing ploys. This will give you the edge to develop something different, something unexpected and this will serve as your “brand difference.”
Above and beyond lower pricing or great customer services, you need a real reason for customers to choose you rather than your competitors. Sometimes it is simply noticing what they are doing wrong that could spark an idea. Finding a need and filling that need will elevate your brand above the rest. Saving your customer time or offering a benefit (not normally being offered) will keep them coming back. Testimonials from other clients who have used a particular brand is a highly efficient tool to stand apart. But coming up with a unique offering is the key and this will be developed over time.
How to find the target group you’ll be selling to
It is important to determine your target audience’s demographic (where do they live) and what are their purchasing patterns. If you’re considering an online store, it is good to know how many people live nearby that would be interested in your products. Your local area will determine this pattern. Getting a handle on understanding how to locate your customers can help you establish your marketing strategy. If you are able to afford hiring a marketing consultant, this can be a huge win for your business. The money you spend up front for this service could make the difference in success or failure. Be smart, be patient and most of all enjoy the journey to new entrepreneurship.
Happy Independence day to all of our visitors.
By Jean HollandRose
Chief Creative Officer and SEO Professional
Inside Design Orlando