When you’re trying to decide on the best online business to start, there are many things to take into consideration. Your business should be something you will enjoy doing, that you’re good at doing, and that is in demand.
If you don’t have those three things, you may give up before you start making money because starting an online business isn’t guaranteed overnight money. It takes time, just like any other business startup.
Here are some questions to think about. Your answers will help you decide.
The best time to start your own internet business was probably about 5 years ago. The next best time is now. Online transactions on Cyber Monday, 26 November 2018, reached a record hit a record $7.8 billion, according to Adobe Insights. That’s just in one day and is more than a 18% increase from 2017.
But online spending isn’t just about one day. The estimated total for online retail sales in 2018 is expected to be around $2,489 trillion (yes trillion) and 2019 is looking to increase that figure.
This trend means that more and more people are looking to buy products and services online. So if you want to claim your slice of these internet business opportunities, how can you start if you don’t have any products to sell and have never run a business before? Let’s take a look at the 6 keys steps to start your own internet business in 2019.
Does Your Internet Based Business Have Loyal Customers?
You don’t need me to tell you that every internet based business needs customers to survive. No customers means no business. It’s not uncommon for new internet entrepreneurs to spend time and money learning how to start a business online and then expecting it to magically start making money. Knowing how to start a business online is important but you also need to how to ensure that your internet based business can not only find customers but also get them to buy from you again and again.
It costs 6 to 7 times more to get a new customer than keep an existing one. So how is business done online to convert short-term visitors and customers into loyal long-term clients and even brand advocates?