As its name indicates, an online business can be considered as any business (exchange of services/products for an economic amount) that is carried out through a website on the Internet.
Sounds simple doesn’t it? And it is.
In theory, anyone with access to the Internet, a business idea that works through this medium of communication, and a computer can start their own online business.
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What is the difference with respect to traditional offline businesses?
Online businesses have many key differences from traditional businesses. Some obvious and others not so much. But in order not to spend our lives on it, we are going to highlight three that are key:
- They don’t need as much start-up capital – Any online business, in any field, is generally going to be cheaper to start than its physical equivalent. Why? Because you don’t need a place or store, or staff, or a thousand other things that go hand in hand with opening a local or traditional store.
- It can work without a warehouse – One of the great advantages of online businesses is that they benefit from a whole logistics structure that allows them to operate without having a warehouse.
- They can operate 24/7 – An online business, an ecommerce, has the advantage that it can operate and sell products 24 hours a day, 365 days a year. This is because many of its processes can be automated and even some of them do not need anything, but that the client himself completes them.
Why are online businesses so successful today?
To begin with, we first have to consider the world in which we live, and in which the last generations have been growing up for the last decades.
Think about these determining factors:
“ The entire world is interconnected, in which everyone communicates with each other over long distances with the help of this great tool called the Internet”
And it’s not just a matter of chatting or making calls over long distances, it’s much more. It is the ability to share content and even unique experiences over the Internet.
Let’s see some of the most important factors that currently determine the success of online business :
✅ Current situation
Let’s start with the first factor that determines the current success of online business, and that is the current situation.
Since the beginning of 2020 – due to the Covid crisis – our lifestyle has been quite compromised, not to mention that it has taken a quite unexpected turn.
The appearance of the pandemic in the vast majority of countries in the world has made us adapt to a slightly more isolated life and without leaving home as much.
“This has made many people need to look for new income and new ways to get what they needed, without having to leave home”
For this reason, the rise of online business and Internet purchases was not long in coming, and more and more adventurers chose to start a new Internet business.
And the same for those who had to adapt to doing what they used to do in person, through the Internet.
This also led to a considerable increase in the acquisition of digital services , opening up many markets that were previously not as prosperous on the Internet.
✅ It is much more comfortable to buy from home
Even before the pandemic, online stores, which are one of the many online business that you can start, had a growing trend among Spaniards .
It is much easier to buy from home and have the order delivered to your door without having to leave your room.
In addition to the fact that buying over the Internet puts a variety at your disposal within a few clicks, which does not happen when you go out to buy directly.
It is even easier to find offers from home through the Internet than to go store by store looking for the best prices.
It doesn’t matter if it’s food, clothes or any type of product…
✅ Other more personal reasons
There are many other factors why buying through online business has become one of the best methods for many:
- Elimination of opening and closing hours
- That you do not have the need to interact directly with a seller who may not serve you in the most appropriate way…
- The simple fact of saving time searching for the best prices
An online business today is much more likely to be successful than a physical business, or at least much more profitable .
Even when it comes to doing business with other companies, <strong> nowadays it is enough to make a simple video call and you can agree a contract with another company on the other side of the world.
All without the need to invest in an expensive trip that could take or be more complicated than necessary.
4 elements necessary for a successful online business
Now that you know why you should consider creating an online business, it’s time to give you the keys to start your own business on the Internet.
Keep in mind that, depending on your business, you may need more or fewer requirements than what I present in this list.
→ A website
The first thing you need, in order to start an online business, is precisely to be on the Internet.
And for that, you clearly need a platform or website.
At this point it is important that you remember that there are web platforms, marketplaces and own developments.
And what is the difference? Very easy: platforms are pre-built software solutions that generally require little or no code to have a functional e-commerce.
, but are Marketplaces do not belong to stores the equivalent of department stores in the online world: products from different brands and different suppliers are sold in the same place.
Own developments are when you are looking for a programmer to create an ecommerce tailored to your needs. And they are often the most expensive and slowest solution to implement.
→ Start with an idea that you are really passionate about
To be successful with your digital business, you have to dedicate yourself to it, and it’s not just about spending time or money, but really focusing on your project to make it work.
The best way to achieve this is by working on something that you are truly passionate about. For example, how about turning your hobby into a business.
→ Find a niche
An excellent idea for entrepreneurs who want to start in the online business is to look for a product niche .
Specific products, those that have a very well defined consumer base and where competition is low, are usually ideal for a novice entrepreneur.
In addition, ecommerce allows you to give an amount of added value to niche products that is great for them, because they are products with very active and solid consumer communities.
This type of added value can be easily implemented online with content such as reviews on your e-commerce, tutorials on your social networks, a blog with specialized content about that product or ideas on how to use it, or even with social selling campaigns led by important influencers for that community.
→ Study and find out whenever you can
If you have just started in online business, chances are that your knowledge is not as extensive as you probably need.
With this said, you can always study and learn thanks to the many tools you find on the Internet and especially on the Shopify blog.
You know what to do, so get to work!
Best of all, you won’t have to worry about complex issues like web programming. Shopify puts at your disposal all the tools you need to create a quality ecommerce without having the technical knowledge of it.
The best day to start is today.