Starting an online business in 2020 has never been easier and harder at the same time. Anyone can start an online business and millions around the world are, and there lies the problem.
Since starting a business in 2020 can be done for free, ( Besides Legal Documents ) millions of people around the world are building websites and are trying to earn a living through building an online business.
The Problem is about 95% of them fail.
There are a few reasons for this, but overall the biggest and most contributing problem is simple, people do not persevere with their goals, and give up way to fast. People expect instant results with little effort and after even a month of effort people expect to be rolling in cash
So to start with the biggest tip I can give anyone is to persevere and learn from people who are excelling in your online business area.
Steps To Starting A Online Business
No matter what kind of online venture you are doing, training, and learning the correct steps is crucial. Let’s face reality…We cannot do, what we don’t know. You need to learn, then you need to do.
The typical timeline for many starting an online business looks a little like this…
Most will quit and give up after the first or second fail, The key to being good at anything in life is practice. Yes, there are plenty of success stories around, but just remember that these success stories are not without their fails and losses to become successful. Failing is learning.
I am willing to bet that all of these successful individuals have the traits of being persistent and self-motivated until they became successful.
Figuring out what kind of online work you want to do
Affiliate Marketing and Dropshipping are two of the most popular online businesses to start, There can be little to no start-up costs, and without getting too technical these can be set up relatively easily.
Questions you need to ask yourself before starting to work online may include…
- How fast do you need money? There is no get rich quick scheme and all require effort and persistence
- How much money do you need? If you are just wanting a little extra cash and something a little more instant but less rewarding, you can try paid surveys
- Are you wanting to build a business and overall a passive income? This is by far the best choice but can take a while to set up.
- How much time can you put in towards the business?
- How much money can you afford to invest? if any.
What is dropshipping?
This is actually where I started making my first good money online, Dropshipping is the process of starting an online website and finding high in-demand products to advertise on your store.
Products ( Descriptions and photos) can be imported from existing online stores like Aliexpress.com, Etsy, Amazon, etc, where you can find loads of great deals to sell for a higher price.
- I start an online store selling wooden boxes
- I find 20 amazing wooden boxes on Aliexpress for say $5 each
- I import these wooden boxes to my online website and advertise them for $15 each ( Import Photos and Descriptions )
- When someone buys a box from my store, I get the $15, I then buy the box for $5 from Aliexpress and ship it directly to the purchaser.
- This will leave me with a $10 profit.
This is a great business model and it does sound easy but trust me there is a lot to learn and there are some startup costs with starting a dropshipping business.
With a dropshipping business, you will have to answer customer questions and complaints, product returns, and refunds. These tasks can be outsourced to a freelancer but this will add to your outgoing cost.
Shopify is the best place to start a dropshipping business and their plans start from $29 per month with a 14 day free trial period.
What Is Affiliate Marketing
Affiliate Marketing is in my opinion the best, cheapest, and most viable way to start building a passive online income.
Affiliate marketing like dropshipping can be done from anywhere in the world and can actually be started for free.
Affiliate Marketing is simply a way of helping people find what it is that they are looking for online ( Product or Service ) and if we do so, and they make a purchase…We get paid a commission.
- I start a website about board games or any other nitch ( You can do this completely free at SiteRubix.com )
- I apply to become an affiliate for Amazon.com and get accepted
- I can now advertise any of Amazon.com’s products on my website
- I start advertising board games on my website and I will also add a link where people can buy the board game from ( Amazon ) If people go to Amazon through my link and buy the board game you will be paid a commission.
- Amazon takes care of all the packing and delivery
- If any of these people that have come through your link come back to Amazon and buy anything within the next 24 hours, you will also receive a commission on their purchases. This does happen more often than you think. Sell a board game and later they come back for a fridge or TV. More commissions for you.
Unlike dropshipping stores, we do not need to buy anything ourselves, and we do not need to handle ANY customer questions or complaints, no product returns, Not needing to do any of these tasks saves a lot of time, effort, and sometimes money.
Tips To Starting A Online Business
- Nail down exactly what it is you want to be doing online, Eg Affiliate Marketing
- Research where the best place is to set up and start your business
- Where are you going to learn, There are loads of scams and rip-off courses around, Be sure to do a little investigation.
- Patience. I cannot stress this enough. You are setting up a business and this will not happen overnight, Work at it constantly.
- Dedication. Make no mistake, any online business takes dedication and commitment
- Focus ( Finish One Course Until Succesful ) Don’t spread yourself too thin when learning about online business and marketing. There is an astonishing amount of information to learn and it will take time.
- Ask for help, There is no shame in asking for help, and if I didn’t, I would not be where I am today, Learn from people who are successful in your field of business.
- Don’t be sucked into the hype of an online business venture. If it seems too good to be true. It probably is too good to be true ( Scam Alert )
Starting an online business is not for everybody. It will take a lot of effort, patience, dedication, and focus, but I can assure you with the correct training and attitude you will be repaid with complete financial freedom and flexibility.
Getting there is the hard part, but it all starts with taking action.
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Whichever type of online work you are looking at doing, Stay focused and dedicated, If you can do this for long enough the results will come, The cash will come, The financial freedom and flexibility will come
Don’t give up…This can be a reality.
BIGGEST ADVICE IN SUCCEEDING WITH ANY ONLINE BUSINESS
- TAKE ACTION – The first biggest thing anyone can do when starting anything is….well…START!
- LISTEN & LEARN – Now that you have started, Listen and learn what from people that are successful,
- DEDICATION, FOCUS, AND COMMITMENT – This is why most people fail at succeeding online, They do not practice for long enough and give up way too fast. Working online is just like anything else, It takes practice, and success will not happen overnight.
3 thoughts on “Tips To Starting A Online Business In 2020”
Cant agree more, patience, patience, patience. Rome wasnt built in a day. Heaps of great advise here, cheers for tak8ng the time to write that bud
Hello there! this is an amazing review you have got here. I am sure this will be very helpful to those who come across this as it is helping me at the moment. Indeed patience is key when it comes to making real cash online which is one thing I have learnt from this review.
Thank you very much!
Not only perseverance, but there are millions of people trying to make it through with an online business and even though not every bussnes has the same niche, there’s still plenty of competition out there. People can visit your site and that makes it really exciting and fulfilling but that’s only on a personal development. Most of us are doing this for a living as a full time income and we need to understand and be aware that not everyone who visits your website will purchase something from it. That’s always my main tip for anyone and something that I have engraved throughout my journey.