How to Start an Online Business in 2020

Sharing buttons:

- If you're watching this video,

it's probably because you're thinking about

starting your own business,

or maybe you're not thinking about it,

maybe you know you wanna start your own business

and you're just not sure exactly what you need to do.

So, in today's video, I'm gonna walk you through

the eight steps that you need to follow

in order to start your own business this year.

Now before we even get to the first step,

here's what I want you to know.

It's better for you to start your business

even if you're not 100% confident

that it's the best idea

or that's it's going to work out.

It's better start for a few reasons.

First of all, the experience you get

from starting your own business

is going to be invaluable.

Whether the business succeeds or even if the business fails,

you're going to learn so much.

And then second, because if you don't start it,

you're always going to be asking yourself what if.

What if you have started that business?

What sort of opportunities would it have opened up for you?

What will the experience have been like?

So, don't have any regrets,

start your own business this year

by following these eight easy steps.

In order to start your own business,

the very first thing you need to do

is just decide what business you're going to start.

Now, maybe you've already done this,

in which case you can skip ahead to the next step.

But if you haven't done it,

then you might be in one of two different situations.

Maybe you're just having trouble deciding

between a few ideas that you have.

You're not sure which one would really be the best.

If that's the case, then check out this video right here

for some advice on how to decide what business to start.

On the other hand, if your problem is that

you don't have a good idea,

then check out this video right here for some inspiration.

As you're trying to decide what business to start,

the main thing that you need to keep in mind

is that it's better to get started

even if you don't choose the perfect idea.

A few months from now,

you will be a few months into the process

of building your business.

And you'll be able to much better determine

whether or not it is the right idea.

At that point, you can always decide to

stop building that business

and pursue a different idea instead,

or you might have found the perfect business idea

and be well on your way to turning it into a success.

But either way, by getting started sooner,

you'll start making a lot of more progress

than if you wait until you maybe some day

find the perfect idea.

Once you've decided what type of business you wanna start,

then the next thing you need to do

is create a business plan.

Many people start businesses

without any sort of plan whatsoever,

but your business is much more likely to succeed

if you start with a plan.

Writing your plan doesn't have to take a whole lot of time,

but will have a big impact.

If you're not quite sure what your business plan should say

or should include, then here are a couple tips.

First of all, there are loads of free templates online

that can get you started.

Also, every single month,

I host a free profit planning challenge

that guides you step by step through the process

of creating a profit plan for your business,

and a profit plan is just a specific type of business plan

that is focused around how your business makes money

and can really guide you in the process

of building the business to increase your profits.

However you decide to go through the process

of writing your business plan,

just remember that it doesn't need to be war and peace.

Your business plan can be short and sweet.

Any plan is better than no plan at all,

and you're actually going to be much more likely

to finish your business plan

and follow it if it's not too long.

Step number three is market research.

So I know this might sound a little bit complex,

but it's really simple.

You just need to find some perspective customers

and talk to them about the product

that you're considering creating

or the service that you're considering offering.

Now I also know that this might seem a little bit

overwhelming, difficult, uncomfortable,

and so you might think you'll just skip this step.

But please don't do that,

because you need to find people to buy your product,

whether you find them now

or you find them after you create the product

and start the business.

But if you find them now,

then you'll be able to start your business

with a lot more confidence,

and it'll be much more likely

that your business will succeed.

If you can't find people that will buy your product,

then your business isn't going to make any money.

So you need to find this people at some point.

And if you do it now,

then you'll be able to talk to them ahead of time

and learn what they like about your product,

what they don't like about it

so that you can make it as good as possible,

and your business can be as successful as possible later on.

Once you've done your market research

and you've gotten some clear feedback

from your perspective customers,

then you can proceed to actually develop your product.

Now depending on what type of product you're creating,

this process will look very different.

Because on the one had, you might be creating

some sort of physical product.

And in that case, you need to design the product,

and then you'll need to have a prototype created,

and then probably a series of subsequent prototypes

before you finally have the finished product

and you have it produced in mass.

On the other hand, if you're creating a digital product,

like an online course,

then you would need to plan out the course

and then film the lessons for the course,

write materials, create worksheets, and so on.

And finally, if you are starting a service-based business

where you're going to be providing

a service to your customers,

then you need to plan how your service is going to work.

You need to develop service packages,

and figure out how you're actually going to

provide this service to your customers.

Step number five is to create a website for your business.

Now, I'm not going to say a whole lot about this,

because I'm sure you've seen

plenty of Squarespace commercials at this point.

And while I'm not sponsored by Squarespace,

it really is as easy as they claim.

Squarespace is a great option,

and there are options you can consider as well,

such as Wix or Weebly.

Most of them make the entire process

of setting up your website really easy.

You also could consider building your website

with WordPress, which can create great results,

but just be prepared to invest

a lot more time into the process,

and especially into the process

of learning how WordPress works

if you wanna go that route.

Once your website is up and running,

it's time to start marketing your product,

because you are ready to start making sales.

Now marketing is an

absolutely essential part of the process,

because unlike it's commonly said,

if you build a better mousetrap,

the world will not beat a path to your door.

You have to get out there,

you have to tell people about your business

and about your product,

or else they won't know it exists.

And if they don't know it exists, they can't buy it.

So, how do you market your business?

Well, if you have plenty of time,

but not very much money,

then you might consider using networking

or some type of content marketing.

Content marketing is just where you

make videos or write articles.

They're helpful to your customer

to attract the people

who will be interested in your product.

On the other hand, if you have a budget,

but you're short on time,

then instead you'll want to look into paid advertising

or maybe consider outsourcing

the marketing of your business.

Once your marketing starts really working,

then you'll start making sales

and you'll have customers that you need to serve.

This is the seventh part of the process

of building your business,

and this is where things really start running.

You have to move into the role of your business

that is the CEO of the business,

where you're running the company.

You're not just building a company

from the ground up anymore.

You have to show up for those customers week after week,

and deliver to them that product or service

that they've purchased.

Depending on what your business sells,

this is gonna look pretty different.

For example, if you are selling a physical product,

then you're going to need to

continue to manufacture that product,

you're going to need to ship the product

out to your customers,

and you might have to do some tech work

to fix problems with the product.

On the other hand, if you're selling a digital product

like a course like I mentioned before,

then your work of serving your customers

might all build down to just answering their questions

about the product that you're selling to them.

And finally, if you start a service business,

then you're going to have to

show up for your customers week after week

and provide that service to them.

So, this is a very important thing to consider

when right now you are the very beginning stages

of starting your business,

because I'm assuming you haven't been

following along with these steps

as you've been watching the video,

and you're probably still at that very beginning phase

of deciding what business to start

and just getting it off the ground.

So, right now you can think about

what kind of work you want to do later on.

Do you want to be working with customers

day after day after day,

or do you wanna be able to sit behind your computer

and answer their questions

and help them out in that way,

or do you want to be shipping products every single week?

That's something you need to think about now,

because in the future,

that's what running your business

is really going to look like.

At this point in the process,

your business will be up and running,

and the final piece of the puzzle

is really growing your team

so that you can scale your company.

In order to serve more customers,

you're going to need more help.

So, you're going to need to hire some people

to serve those customers

and to run your business for you.

Maybe you'll hire customer service specialists,

maybe you'll hire more people

to actually create the product for you,

or maybe you'll hire people

to run other administrative parts of your business,

or to market your business for you, to get more customers.

Of course you might choose to not hire anyone at all.

You might wanna keep things simple,

keep your company small,

and remain a solopreneur forever,

and that's totally fine.

It's a decision you'll have to make at some point though.

All right, that's pretty much all there is to it.

Follow those eight simple steps

and you'll be well on your way

to building a successful profitable business.

Now of course it goes without saying

that even though these steps are pretty simple,

they all do require a fair amount of work.

You can expect to invest at least several weeks

if not several months into the process

of getting your business up and running and making money.

So, my biggest piece of advice for you

as you're getting this new venture off the ground

is to commit to being in it for the long haul

from the very beginning.

If you are impatient and you don't

properly anticipate how long

this whole process is going to take,

then you're probably going to give up

before you make your first dollar.

You need to understand that this process takes time,

it takes work, and you need to prepare yourself

mentally, and emotionally, and even physically

from the very beginning.

If you aren't ready,

then all of the different things that you need to do

and the different things that hits you along the way

are really gonna throw you off track

and your business might fail

before it even gets off the ground,

but I know you can do it.

If you really wanna start your own business,

then just know it's not all that complicated.

Anyone can do it if they put their mind to it,

and they're willing to do the work.

If you're really serious about starting your own business,

then I'd love to tell you

a little bit about Startup Society.

Startup Society is an online community and learning platform

that I developed to help entrepreneurs just like you

learn the basics of starting their own business

and turning it into a success.

You can join Startup Society for a low monthly cost.

And with your membership,

you'll get access to all of the resources

that Startup Society provides

entrepreneurs just like you.

We have training courses that teach you

exactly what you need to do to start your business.

We also give you step-by-step action items

to keep you on track

and make sure that you're never overwhelmed by the process.

We also got an amazing community

of online entrepreneurs who are all working together,

supporting each other, and cheering each other on,

so that they can stay motivated and stay on track.

There's a link down below that you can click

to learn more about Startup Society

and sign up to become a member.

I'd love to work with you

to turn your online business idea into a success.

All right, well, that's all for this video.

Thanks so much for joining me today.

I'm honestly so excited

for you to be starting your own business,

because starting my own business

was one of the best decisions that I've ever made.

It completely changed my life in so many ways

and all for the better.

So I can't wait to see how starting your business

changes your life as well.

If you wanna see more videos like this in the future

and learn more about how to start your own business,

then make sure you click that Subscribe button down below,

and also ring the bell to get notified

when I make my next video.

We make videos here every single week

on Tuesdays at 8:00 a.m.,

and I'd love to have you join me for the next one.

Thanks so much for watching.

That's all for now.

I'll see you next time.