How to Launch Your Online Startup Right Now [2021]

Author

Stephanie

Category

Marketing

Posted

October 18, 2021

How to Launch Your Online Startup Right Now [2021]

Now that the internet is in its biggest boom period ever, and is only going to become an even greater presence in our lives going forward, the possibility of launching a startup is available to more people than ever before.

Years ago, you would have likely needed a physical premises, you would have needed to pay a lot for advertising in newspapers, on billboards and on television or radio, and all of that stuff cost a ton of money.

Now, you do still need a certain amount of capital to get yourself started, but most of that stuff we just mentioned is no longer a necessity for getting a business off the ground and finding a lot of success with it.

Starting your business online requires an awful lot less money, mainly because you don’t necessarily need an actual bricks and mortar store or office, and also because marketing a business online comes pretty cheap.

Does this mean that starting a business is going to be easy or that you can guarantee yourself success? No, but the world of online business is full of opportunities that didn’t exist before and that you can take advantage of. 

Let’s look at the steps you need to take in order to launch your online startup right now:

Gather Your Funds

Like we said, it’s not as expensive now to start a business but you are going to need some money before you can get anything done. There are a few things that you absolutely must have such as a computer and an internet connection, but I’m assuming you’ve got those already.

You would also benefit a lot from having access to a domain name and a website builder at the very beginning, but this shouldn’t be too expensive. You could probably get a serviceable domain name for less than $10/year.

So that’s the essential stuff and depending on the type of business you want to start, it might actually be all you need. If you are a freelance writer, web developer, video editor, affiliate marketer or some other such job that you can do entirely on your computer, you can realistically start a successful business with less than $100 capital on day one.

But that doesn’t cover every possible type of online startup. In the case of something like an eCommerce site where you are selling things, you need more money for equipment, materials and shipping costs.

You can probably expect a business like that with about $1-2,000. Your first step in terms of generating capital should be to map out your expenses and then draw up a budget so you can determine how much you actually need.

If you don’t have enough in your savings, it’s time to think about taking out a loan. It might be daunting, but if it helps your business get off the ground then it will soon feel like a drop in the bucket expense.

Decide on Your Specific Niche

This might be the most important part and one of the primary reasons why so many startups fail is because those behind them don’t understand the importance of offering something that no one else is offering.

One of the disadvantages that comes with the fact that it’s easier now to start a business online is that everyone is trying to do it. And so say for example you want to be a web developer and you are offering what you might call a general web developer service, there are already thousands of people doing the same thing.

So what you need to do here is a ton of market research to discover a niche for yourself. What you’re looking for is a specific problem that no one else working in the same industry appears to be able to solve in an effective way.

It is then down to you to figure out how exactly this problem can be solved, and become the one who solves it. Using the example of the web development business, maybe your research has led to the knowledge that there are a lot of people out there right now offering business coach services.

But such services aren’t being properly represented by the websites the coaches are hiring people to develop for them. You would then go ahead and figure out what kind of website will generate conversions for a business coach.

Through this, you can build a reputation in that niche and eventually people will actively come to you. 

Generate Your Online Presence

So having a niche is essential as we’ve said, but it’s not going to be worth anything unless you can make customers aware of it. And the only way to do that is to have a very substantial online presence.

Your website is going to be an important part of it, but it’s not the only thing to focus on. You won’t generate traffic for your site over other established ones right off the bat, so I would instead put more focus on a LinkedIn profile.

This is already a site that’s well in use and probably where people will first search when looking for a particular service. You can build up a network on LinkedIn as you get more jobs and it’s also a place for you to just open lines of communication.

Stay active on LinkedIn, update it with every new job you do and add people as contacts on there. You will start to notice work coming your way through the pipeline. For a lot of businesses, it’s also worth being on Twitter, Instagram and Facebook, but prioritise LinkedIn first. 

Build a Customer Base

Building and maintaining a customer base is the difficult part, but it’s something that you can take actionable steps towards and this will put you ahead of the curve because a lot of people don’t do that.

Some people just get a website built and then expect all the jobs to come to them straight away and that’s not how it works. Having your online presence, as discussed above, will help a lot especially after you’ve gotten a few jobs, but those first few are more likely to come through your own action.

You should be putting the word out to people that you have a product or service which they can benefit from. An email marketing funnel is a surefire way to get your name in people’s minds. This involves building a list of potential customers and sending cold emails their way.

If you send out 100, you’ll probably only get responses from less than 10 of them, but that’s enough, especially at the beginning. And you will be sending out more than 100 anyway, because it will be an automated system.

Eventually, you can just rely on word of mouth. People will know you as the expert in your niche, but this is how you get the ball rolling towards that. 

As you can see, launching a startup now requires a lot of work, a lot of thought and a lot of patience, but it is extremely accessible. With the right niche, and the right approach to sourcing customers, anyone can become a successful online business owner. 

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