Have you even asked yourself “what is online business?” Do you have plans to start an online Business? Do you know the rules to stay safe to online business? All these questions and more will be answered in the guide.
- Definition of Online Business
- What is a good Online Business?
- What do I need to know to start an online business?
- Final Take on What is online business and what you need to know to start.
In addition, you will know what a good online business is; the truth about safe online business, this will help you have an edge in a long run. You also get to earn money from your online business.
Definition of Online Business
There may be various explanations of online business;
A good online business is a business that is operated through the internet and brings returns via the internet as well employing safe means. When it comes to online business, your website or blog is your office and showroom;
It is where you show case your commodities, skills and persuade online users seeking products and services that you offer excellence.
What are The Types of Online Business?
There are the two types of online businesses;
This is the kind of business where you are completely involving in all aspect of it. You give out specific services base on your skill, and what you render.
In this kind of business your profit or income is proportional to the amount of service you offer and render. Moreover, this is over a period of time of committed activeness.
For example, a freelance writer, who writes assignment for clients earns income base on the number of assignment performed over a period of time. If the freelancer chooses not to write, then he or she would not earn income.
Other examples of online business services are like Ghostwriting, Graphics design, SEO consultant, Programming, Virtual assistance, Data entry, etc.
A Passive Online Business
This is the kind of business that brings returns or income regularly even when you are not actively involved. This type of business requires you to do some things like; investing lots of time, effort and even money right from the start.
Passive online business will be passive, if you have perfectly built the business, then you can sit back and earn passively.
It requires hard work and commitment. When this type of business begins to generate returns, there is no limit to the income you can make from it.
This will earn you income on a regularly basic, even while you sleep, this is why it is called Passive.
Affiliate marketing, Information marketing are examples of passive online business. Note that both of these businesses require hard work.
Let no one trick you to believe that you can make thousands of dollar overnight via online business: Try not to fall for such trap.
Reminder; Sports betting, investing in HYIP schemes, and being paid to read emails or Completing surveys are ways by which people are making money online but these kind of business are not real online businesses.
What is a good Online Business?
This is the kind of business you own, run and you are in charge of all the earnings it brings. So, at this juncture you might want to as…,
What do I need to start an online business?
I will be teaching what you need to start a real and good business that has stable profit returns.
Now that you have understand what business is, the types and what is a good online business is;
Now, let us look at the requirements needed for a good online business.
Quick Note; You do not have to be a certified programmer or a graduate in online marketing or a writer to get started.
Also, you do not need to have a huge amount of money to get started. What you must need are;
- A PC (laptop, desktop,)
- Dependable internet connection
- Fundamental computer skills (browsing the internet, typing, executing simple computer operations such as uploading images)
- Minimal writing skills. (Basic skill to convey yourself plainly)
- Domain name ($10 per year to register) and hosting fee (this is dependant the hosting service Company). If you are not going for a free hosting platform.
- Also, a strong determination to learn and take action, and the passion to succeed.
Now, that you have seen the requirements needed to start an online business, it is very vital that I tell you the tough sides of online business, as this will help you to prepare your mind for the challenges ahead.
Let us start;
What do I need to know to start an online business?
“How I make my living from website and domain flipping.”
“Revealed: How I’m making at least $500 daily from Fiverr.”
“Here’s how I’m making 4-figures monthly from my blog.
I’ve quit my day job, and I’m now my own boss.”
“How I made thousands of dollars within one month selling Information products.”
“Here are my secrets: How I’m making $10,000 monthly through affiliate marketing.”
I am certain that you have run into more than enough inviting headlines like these and I am in no doubt, that each time you read such success stories, your passion jacks up to kick-start your own online business.
Furthermore, you have learned – from hundreds of stories – that the internet is a wealth-packed space. You can also live the kind of standard-of-living of your dreams by starting an online business.
My friend, this is very true but there is more to online business…
There are many hard truths about online business that most successful people do not want to share (for reasons I just do not understand).
And in this section, I be will sharing some of them here after reading this part of this guide, you either conclude;
“Wow! Nobody ever told me all these truth, I Cannot go through all these. I’m no longer interested.”
“No problem. I know success doesn’t come easy. I’m ready to face the challenge.”
If you go with the first thought, you will quit early, saving you future frustration and harsh realities.
But with the second thought, you keep going – even when the business encounters challenges, It gears you on to the point of success. So, both thoughts have its advantages.
10 Hard Truths You Need to Know About Every Good Online Business
1. Site Traffic is Online Business’s Live Wire
One factor that helps online business succeed is traffic. It is a most important task every online entrepreneur face. When you are able to earn huge traffic, then you can make decent profit from your business.
The truth: Your blog is of no use, if you only get unit count visits daily, maybe from your siblings and friends.
For you to make real money from online business, you need huge traffic. Let us say thousands to millions traffics per month. The more traffic you attract; the more income you will make.
No business can attain success without customers, and every online business is not an exception. Attracting traffic is like attracting customers.
Learn more on how to drive traffic to your online business.
2. Purpose and hard work is very key
As I write this post, millions of websites and blogs exist on the internet and people like you create blog every day and If you have created one, here is a guide to help you start a blog or build a business website.
And about 100,000+ new blogs are created every day and these data means that online business is a contest. It is only the strong-willed and fearless individual can climb to the top.
No matter what aspect of online business you aspire to run, the truth is, quite a lot of persons are already into it and only those who pass the Darwinian test will succeed in online business.
3. Online business is not rosy, especially at the beginning
If you are thinking of creating a website, publish some articles, scatter your sidebar with ads and affiliate links, and you are also thinking of sitting back to watch your income surge.
My friend, you are planning a great downfall!
Online business is not that palatable from the onset. You will need to set up a website or blog that looks very professional and attractive.
Also, you will need to write and publish several articles.
Learn how to create quality SEO content both for search engines and your audiences.
Take note, not just articles; It should be unique, valuable, and at least 93% error-free that will connect your audience and position you as an expert in your chosen niche.
In short, you will need to spend lots of time, energy, and money. This is the fact!
4. If Google is not Indexing your business, it is not online
The truth is, if your online business is not indexed by Google it is definitely NOT online. The most well liked search engine on the internet is Google.
It is the most reliable source of traffic for high-ranking sites and the dream of online entrepreneurs is to see their websites in the top spots in Google’s rankings.
Moreover, they are all striving hard to realize this dream. If you are fervent about your online business, this should be your goal.
To get your desired online visibility, you must always play by Google’s rules and any attempt to play games with almighty Google, will leave you badly burnt in the end.
5. Streamlining your focus is the shortcut to online business success
Starting an online business (blogging) with broad niche like general health and wellness, is a big NO, I will advise you to drop that idea.
Do you know why? Because this blog niche is very vast and already dominated by some monster sites
(like WebMD, Mayo Clinic, Medline, etc.)
That you can never overcome them in the rankings for most keywords, no matter how hard you try.
Instead, streamline your niche by blogging on a smaller or micro niche like health guides for pregnant women, weight loss guides for busy and obsessed people, etc.
This way, you will quickly achieve success due to the specificity of the niche. Therefore, it is either you narrow your focus, or you fizzle out!
6. Making Money Online Overnight Is Unrealistic
Adverts like, “start making thousands of dollars within 24 hours”, or “fill up your bank account at the click of a button” has undeniably littered the space of the internet.
I am sure you have come across them and the truth is they are deliberate lies and scams?
The fact is, you cannot make money overnight from online business.
Darren Rowse (ProBlogger), John Chow, Seth Godin, Neil Patel, and many others who are earning 4-5 figures monthly from their online businesses never succeeded at once.
It took years of dedication and hard work for most of them to succeed. Now, I am not saying you cannot start making money within a shorter time-frame.
In fact, you can start making money 7-8 months after starting your online business, on the other hand, sooner but that depends on the type of business.
However, have it in mind that you will not start making money at once. Leave the idea of earning income right from the start. Rather, focus on building a large audience, building trust, and presenting yourself as an expert in your chosen business niche.
At the time you have achieved all these, you will easily talk into people to take whatever action you want from them. That is when your profit will start flowing in without a break.
However, you cannot achieve all these overnight. No, you cannot.
Learn how to make money blogging.
7. You Must Be Consistent with Your Content Creation
Google ranks websites based on content and backlinks. The more articles you write (around your target keywords) and publish, and the more frequently you publish new quality and SEO-friendly contents, the higher Google ranks your blog.
That’s one thing you should keep in mind.
Another thing is that, in order to attract and convince your audience to stay glued to your blog, you must publish high quality, unique articles that readers will find valuable.
Truth is, for each topic that you can think of writing about, thousands of articles have already been published about that same topic. So, to really capture your readers, you must present your content from a fresh perspective that will engage them.
If you publish crappy articles, you’ll only raise their bullshit detectors and repel you.
So, to succeed in online business, you must be ready to write high quality content. Better still, hire a professional writer (like me) to do the job for you.
8. Shortcuts are dangerous
A lot of people think they can implement a number of dubious techniques and get away with them. Remember, on the web, Google is not careless; it’s a harsh cop. So, if you play any funny games, you’ll get smashed!
Avoid publishing content stolen from other websites. If you do, Google will penalize your website or blog for duplicate content. Of course, Google has a way of finding out the original owner of a post (perhaps, by the date of publication).
And websites featuring stolen content are either demoted or delisted from the rankings.
Likewise, shun building spam backlinks. There are numerous programs online promising to create thousands of backlinks to your website or blog within hours. Avoid these like a pandemic. If you use them, you’ll get burnt in the end.
In short, avoid any tactic that seems to be a shortcut. Of course, you may get good results from such, but your joy would be short-lived,
I’m telling you.
9. Get Up-to-date on SEO and Traffic Tips
This is another bitter truth. As of present, I still see many digital marketers wasting their precious time on search engine optimization and traffic generation strategies that have long go down on their effectiveness.
The point is, most SEO techniques that worked wonderfully few years back are no longer effective. Similarly, the effective techniques of present may lose all their impact in the coming months or years because Google get to update their algorithm often times within a year.
So, you must keep up-to-date with most recent developments in SEO and traffic generation. No tactic is sure to hold its usefulness forever – except for publishing quality content.
10. Tactics that worked magically for others may not work for you
That’s just it! If I should expose how I’ve been making a living from freelance writing for the past two years, and you were to take on all my strategies without a glitch, you still may end up not making any money.
So, no same approach promises success in online business. (I think that’s where some bits of good fortune come in.)
In the same way, if Darren Rowse were to give details in full on how he built a blog that now earns him 5-figures once-a-month, and you were to photo copy his steps, you may end up making much less – even though you did everything he did. But it’s a two-sided thing. You may also end up making more than he did. That’s possible, too.
Does that mean you shouldn’t gain knowledge from the experts? No. Follow their steps, but keep in mind the fact that there’s no assurance you’ll succeed with the same strategies as much as they did.
So, don’t cry terribly once you’ve paid for a coaching course and the tactics you learned don’t seem to work. It happens.
11. Online business involves lots of trial-and-error
Yes, you’ll need to perform a lot of experiments if you plan to be successful in online business. From time to time, you may have to risk losing money, just to find out what will bring results and what will not.
As I stated earlier, not all proven techniques will work for you. So, you need to keep trying different ones to know which works. If you’re the type that hates experimenting, I’m sorry, online business isn’t for you.
Final Take on What is online business and what you need to know to start.
You’d come to an understanding with me that these truths aren’t encouraging. But I have to expose them for the reason that nobody else is doing the same.
I’m certain one of the two thoughts I listed earlier is haunting in your mind right now. I mean, right now you’re either considering of dumping your online business idea or considering taking the bull by the horns.
If you’re certainly in for online business, now don’t let anything stop you. Ride on…
Let’s know what your thought about starting an online business this time via the comment box. You can share this guide with friends and family if it helped you.