10 Steps: for Starting an Online Business Checklist

E-commerce is supposed to increase by 20% by the end of 2023. This increase means that over 75% of small business owners will see a substantial profit. Starting an online business is a great opportunity, but entrepreneurs must have a plan.

Starting an Online Business Checklist

Since there are many different items to consider, we have simplified this plan into a checklist for starting an online business. However, entrepreneurs should remember that before starting their endeavors, their website, domain, and everything else should be ready.

1) Take Stock of the Business Resources

Before leaping into an exciting new business venture, individuals should ensure they have enough financial resources to last about a year. They should also take stock of the monthly bills, from WIFI and phone bills to domain fees to business lunches and fuel for the car.

While it is true that online businesses, especially those run from home, come with less overhead, there are usually small and large expenses that the individual forgets. Also, even if the business’s projections look favorable, it takes time for a company to establish itself. Entrepreneurs will still need to pay their employees, themselves, and their bills during those leaner months. Therefore, making sure that they have money on hand is essential. Once the business makes a profit, the entrepreneur can reconsider their spending plan and create a new financial checklist.

Much of the stress we see during the opening phase of an online business—or any business for that matter—originates from financial concerns. Therefore, ensuring the company has a portion of revenue saved for dealing with adversity is vital.

2) Go Back Over the Viability of the Business Idea

Sometimes entrepreneurs lose perspective on their fundamental idea while focusing on raising capital, speaking with investors, and designing a website. It can be helpful for entrepreneurs to ask themselves questions, such as: have they learned anything new since they began working with this idea? Are there any tweaks they can make to update the concept and make it more viable fully? If the entrepreneur was the consumer, would they buy the product currently being sold online? Lastly, who do they see as the main customers for the products?

Next, individuals should speak with family and friends and see if they can get opinions from outside the friend circle. Unbiased views of the business can reveal hidden problems or include helpful suggestions.

3) Recognize Secondary Domain Names

Entrepreneurs must be familiar with secondary domain names. They are crucial for customers searching out the business and are used when promoting the brand and getting buyers to stay on the website longer. Secondary domain names include landing pages, blog pages, and other websites that work with the business and bring people to the site. If a buyer lands on a secondary page and then is rerouted to the company’s main page, there is a better chance of purchasing something.

Before starting an online business, entrepreneurs should examine the chosen domain names. List them out, and see how they work together. How were they selected? Were they based on being remembered easily and having an eye-catching yet straightforward web address? Are they all still relevant to the product sold now that it has reached its final stage? Do any of them need to be altered? Now is the time to have all of the web pages in an arrangement that is easy to navigate.

4) Pretend to be a Customer and Visit the Business Website

The business’s website and performance are the keys to the profit margin. So, before launching the site, entrepreneurs should complete a test run. First, navigate to the website and ensure the process is smooth. Try using pages that redirect customers, visit different landing pages, and use the embedded links on social media and elsewhere. Then, browse the site, thinking like a customer. View pictures, read reviews, and place items in the cart. Is everything working like it should, and are the speeds acceptable? If not, now is the time to debug things and fix broken links.

Fixing these issues will prevent problems later and individuals from shutting the site down—and losing business—to solve problems under pressure. Also, if no one in the industry is a web designer and the entrepreneur didn’t use an easy-build platform, call a professional to review the website one more time. A functional, high-speed professional website is paramount to success.

5) Set Up Socials

At this point, an entrepreneur must be able to harness the power of social media. Using social platforms to not only spread the word about the brand but also to connect with new and past customers is essential. But what best way to use this unique power without becoming overwhelmed?

Entrepreneurs should choose 2-4 social media platforms they are most comfortable with, for example, Twitter, Instagram, and LinkedIn. Next, they should establish professional accounts for each forum to ensure that their brand and logo are consistent. Next, they should network with friends and family and grow their followers.

At this point, entrepreneurs should have some high-quality pictures of the product, so feature these in creative ways. For example, if the company sells high-quality sunblock, include photos and videos of the products, beach scenes, sunsets, and happy sunbathers. This will create an aesthetic for the brand, a style that people will relate to. Lastly, the most intelligent and web-savvy brands interact with their customers online, and entrepreneurs should start doing this immediately. Encourage hashtags, and when customers or would-be customers post about the brand, repost their photos and captions. This sort of dialogue will create a buzz, and the more buzz, the more sales.

6) Continue to Plan the Advertising Campaign

In addition to creating entertaining and inviting posts, entrepreneurs can run ads on platforms such as Facebook and Instagram and choose how much to spend. Even the most affordable options will place the ad in front of the right demographic and drum up more business. But what else can entrepreneurs do besides sharing links and picking up “likes”?

While it is true that technology has transformed how brands advertise, traditional channels are still relevant. For example, if the new company targets local customers, why not print some flyers and post them? Or, place an ad in a local newspaper or magazine to get some eyes on the goods or services. Many new companies find that even if their primary workplace exists on the web, combining traditional advertising and new techniques can create the perfect mix of publicity.

7) Check on the Website Ordering System

Confirming that the ordering process works well, and testing the site with various volumes, is key to a company’s initial success. Many entrepreneurs initially ship out their products from home, so this should be simple enough. Make sure everything is in line, from when an order goes through to fulfillment time, and that the scheduling and timing work. No detail is too small, so entrepreneurs should figure out the best route to the post office and the hours it is open.

If the business uses a third party to help fulfill orders, entrepreneurs should place an order to ensure everything is working well. If they are pleased with the system and the efficient acquisition of goods, the customers will be in good hands.

Another aspect to check on is the accounting system. Entrepreneurs should run a test on this to ensure that the management of both receivables and payables works flawlessly. Individuals can also try out a few fictional entries to test the system, but they should also remember to delete them.

8) Upgrade the Hosting Plan

At this point, entrepreneurs should have already spent time researching various hosting companies and choosing the best platform for the company’s size and overall needs.

Web pages should load in approximately 2-4 seconds to maintain customer attention. No company wants a new site visitor to be turned away by poor bandwidth and long load times. Connections should also be rapid and smooth so that new customers can focus on the brand’s exciting offerings. When interested prospective buyers visit the site, entrepreneurs want to spread good press via word of mouth. In the world of online business, not all press is indeed good press. Make the company’s buzz positive.

Entrepreneurs may need to upgrade their plans for more bandwidth, and businesses should go beyond what they think they might need. If entrepreneurs overestimate by about 20-25%, they will probably not encounter any problems. This way, they can monitor the site and check its performance. On the other hand, if they hit approximately 80% capacity at any time, they might want to upgrade again. Customers who experience a buggy, slow website the first time tend not to return.

9) The Perfect Mix of Old and New Messaging

Advertising is crucial for a new business. However, entrepreneurs often forget how powerful word-of-mouth marketing can be, even when posted online. Traditional methods still exist for a reason, and the publicity that results from sharing opinions on sites such as Instagram, Pinterest, Facebook, and even TikTok can make or break a business.

Email, social media, and even text messaging make brand information easy to spread. From business cards to reviews on Yelp, entrepreneurs should combine all the different advertising avenues to promote the business. A consistent, well-planned approach that offers varying ways to learn about the new company is optimal.

10) Entrepreneurs Should Trust Themselves

Lastly, entrepreneurs should have faith in themselves and learn to trust their instincts. They should be confident that they can accomplish all these tasks and more in the weeks leading up to their new business’s launch. They should also not worry too much if they make mistakes or forget something. Instead, entrepreneurs should always continue to look forward, work hard, and trust in the inspiration that brought them here in the first place.

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10 Steps: for Starting an Online Business Checklist

Starting an Online Business Checklist

1) Take Stock of the Business Resources

2) Go Back Over the Viability of the Business Idea

3) Recognize Secondary Domain Names

4) Pretend to be a Customer and Visit the Business Website

5) Set Up Socials

6) Continue to Plan the Advertising Campaign

7) Check on the Website Ordering System

8) Upgrade the Hosting Plan

9) The Perfect Mix of Old and New Messaging

10) Entrepreneurs Should Trust Themselves

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