There is no meaning to retire late when you can retire TODAY and be your own BOSS.
Thanks to the Internet era where you can work from home, make money online and start an online business from anywhere in the world.
You just need to identify steps to start online business.
Do you know you can turn your existing skills into a potential business and be own BOSS?
If not, then this article is for you.
I’m going to share the easy, actionable step to start an online business and there is one BONUS inside a post.
I have used the same steps to start an online business and making money online within six months of starting an online business.
Here is the result.
This is the same, you can follow.
So let’s dive in right now to know what are the steps to start an online business.
3 Steps to Start Online Business
First thing that comes in the mind when starting your own business is MONEY.
Which leads to the search for “How to start an online business with no money?”
I am damn sure, you are with me on this.
Hey, that’s fine and why should not you search for starting a business with no money.
Money should not be the first step to start an online business, but an idea is.
Bonus : You can grab my FREE eBook to start business today. “10 Business Ideas to Start Side Hustle & Make More Money”
Hold on, my next post will be on the same topic “How to start an online business with no money?”
So here is how to start an online business step by step
Step 1. Identify Your Business Idea Using Skills
Jumping into entrepreneurship without knowing own capabilities is something like riding a boat without knowing the route.
- Think about it.
- Think of backup you need to have in case you are failed into entrepreneurship.
- Think of your skills, capabilities, and interest.
Everyone has something unique…
- Someone is good at writing.
- Someone is good at speaking.
- Someone is good at programming.
- Someone is good at drawing.
- Someone is good at finance.
- Someone is good at job skills.
- Someone is so creative.
- Someone is good at helping others.
- Someone is good at fine art.
- Someone has an in-depth knowledge of agriculture.
- Someone is even well at fitness, gym, and yoga.
- Even someone is good at finding a job and writing a catchy resume…
Wait, the list is endless.
Why I’m talking about this?
Because your skills are the side business opportunity for you.
Here are the few names who have turn skills\passion\hobby into a business opportunity.
1. Sumit Bansal who has started excel blog TrumpExcel.com making money blogging is a great example of this. His blog is now making $5000+ per month…
2. Karan Batra – a well know Charted Accountant(CA), turn blogger, from India. He turns CA knowledge into an online business opportunity and started one of the best finance blogs in India Charteredclub.com.
3. Manish Chauhan – is a popular Indian personal finance blogger turn his interest into a blog and running it as a business here at Jagoinvestor.com
This is how you can too build a business around your skills and replace a day job very easily.
…only if you take corrective action.
Don’t worry about other things like time, money, knowledge, idea, etc. You can overcome these obstacles to starting your own business.
First identify what good you are at, what skills you have that you can use to solve the problem, and build a business around it.
Pro Tips: Here are 2 quick methods to identify business idea\niche from your existing skills –
Method 1. Pen and Paper
- Take a pen & paper.
- List down all your skills\hobbies and area of interest which you are good at OR passion you have on a plain paper. It should be anything like writing, speaking, drawing, etc.
- Sort them out from expertise to less expertise\know how. Because no one is an expert at everything.
- Pick up the FIRST that comes on your list.
This is how you can grab a list of business ideas.
Method 2. Resume Scanning
A resume is the best place to identify your skills.
Believe me or not you can fetch a bunch of business ideas from your resume. Use this technique if you are not sure about all of your skills.
- Take a hard print out of your resume.
- Read it carefully.
- Mark the key skills\work which you have performed.
- Write down these skills into plain paper or excel sheet.
- Now jump and repeat 3rd step from above Method 1.
Boom, you have a more list of business ideas.
To help you with where you can find business ideas, you can refer to my this Quora answer Where can I find business ideas?
Now I’m damn sure, you are thinking that how it’s possible to start a business from these ideas.
Hold on, here is the next step to start an online business.
Step 2. Find Out the Problem
Don’t just pick up these ideas, do you remember what I have mentioned in the first step to start an online business?
You need to find the problem around the skills which you are comfortable at.
Let’s assume you are a master at ‘drawing’.
Here is how to validate the business idea, find a problem statement, and validate the demand.
A. Power of Quora
Quora.com is a very popular platform to identify the problem your audience is facing.
e.g Go to Quora.com and enter a keyword ‘drawing’.
It displays the list of all questions, pain points, problem areas for which your audience is looking solution.
Here is the snap of it,
If you find huge numbers of questions around your business idea that means there is a huge demand for it.
This is how you can validate the business idea and demand.
B. Power of Forums
Another great example to validate the business idea and demand is Forums. You can search for the problems people around the globe looking for.
Here is how to find relevant forums
- Go to Google and type in search box as forums “your skills\business idea” e.g. forums “drawing”
- Google will display the list of all forums.
- Now on Forum website, search about your business idea or niche in the search box. e.g drawing.
This is how you will get a huge list of the problems around your business idea for which peoples are looking solution.
C. Power of Groups
Facebook groups, LinkedIn groups are another way to validate a business idea and find relevant questions\problem your audience is asking.
You can even use this to create awareness about your business before launching.
Here is how Facebook is showing,
D. Power of Tools
You can use the tools to find demand and problems around your business ideas.
Here are the few examples of tools:
This is one of the popular tools to find all the Questions on any topic audience around the globe is asking on the Internet. You simply have to enter the search term and hit enter. It displays all the variation of the search terms in the form of What, Who, Where, Which, Can, When, Are like this.
Another great thing about AnswerThePublic is Language + Location-based results and High-res images feature.
It helps marketers, organization identifying demand, validate the idea by analyzing their audience search intent!
It does so by indicating useful information such as:
- Unlimited searches.
- High-res images.
- Unlimited team members.
- Hide unwanted sections.
- Hide individual suggestions.
You can utilize all this data to drill down the niche of the business you want to start.
You can try a free version of AnswerThePublic up to certain limit from here:
=>Try AnswerThePublic <=
Another well known, popular tool to check the latest trends and comparisons on any topic. It’s not helping to find a problem but helping to identify the demand for the solution against the problem.
You can search for trends across the county, time frame, niche category, search category, etc.
The best part of Google trends is to monitor and forecast the demand throughout the year.
Step 3. Provide the Solution & Monetize
Now you are done with 80% of the work. The next step to start an online business is to provide a solution i.e. Build the business around your identified business idea.
And a great way to provide a solution is through your own Website, Blog, Social Media, and YouTube Channel. Nowadays it’s very easy to build a Website\Blog from scratch even if you are non-technical.
If you are not sure how to start a website, then outsource work to freelancers via the world largest freelancing platform Fiverr (It’s FREE to join)
What’s Next Post Starting Business
Once you follow the above steps to start an online business, here are the next actionable steps to quit a job –
- Prioritize the things of running a new business.
- Promote and automate your business with the help of tools like PromoRepublic, ActiveCampaign respectively.
- Take the help of a tool like Plutio to run and manage your business from one app.
Never depend only on a single source of income even if you have a business OR job. Build multiple sources to mitigate risk.
Steps to Start Online Business: My Final Words
These days starting a business is very easy, but only if you take corrective actions and provide value to your audience.
It’s all about mindset, burning desire, and learning.
Plant your seeds today and enjoy the fruits of FREEDOM lifetime. Don’t think too much. Take an action, follow steps to start an online business, and escape the 9 to 5 Job.
By the way,
- What are your steps to start an online business?
- What are some other strategies you think should be mentioned here?
- Are you planning to start a business?
- Do you have a business idea but don’t know what to do next?
- Have you tried to build a business?
I would love to hear your thoughts in the comments below.
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