Thanks to the internet, businesses can pop up out of nowhere with hardly any resources. And, they have the potential to be very successful. Pretty much every social media business started as an online company and grew into a billion dollar establishment. No one is saying you will be that prosperous, but it isn’t impossible. However, to get to that point you need tackle the obstacles that lie in your path. If you don’t, you will end up like the majority of businesses that go out of business in the first year. Here’s what you need to be to survive and thrive.
Cut Costs
Unlike a conventional company, you don’t have many costs to contend with because you don’t have as many resources. Still, that doesn’t mean that there aren’t costs that you can’t cut. There are always expenses that drag a firm down. And, it is your job to find and eradicate them. Overheads, for example, cost an online business a lot of money. If possible, try and cut them down to a minimum. You can cut the electricity bill by turning the power off at the source. It is only a small thing, but it will make all the difference.
A Killer Website
Your site is the only thing that you can use to try and expand your customer base. After all, you don’t have a store on the high street or any money to advertise. What you do have, however, is a chance to propel your site into the stratosphere. To begin with, you have to consider the aesthetics. Any decent website needs to use web design principles that please the browser. Otherwise, they will bounce to another site. And, the layout and navigation need to be simple yet effective. There is nothing worse than a slow or complex website. It goes without saying that you site needs to use ecommerce tactics, too. Finally, think about promoting it with SEO tips. A couple of keywords and links could double your daily traffic.
Stellar Image
The company’s reputation is going to affect your success. Unfortunately, some people don’t like dealing with small firms. They see them as too unimportant and untrustworthy. And, it is easy to spot a small firm from a mile away. With that in mind, try and make it look as if you are a professional outfit. Just because you work from your bedroom doesn’t mean you have to give that impression. Firstly, create work email accounts. Also, get a dedicated phone number that isn’t a landline or a mobile. Also, think about hiring a PO Box. The PO Box gives you a work address that you can use in any correspondence. Plus, it is a safe and secure tactic.
Strong Work Ethic
You are starting from the bottom, so you will need to work extra hard. Your competitors already have a bigger budget and a foothold in the industry. To compete with them, you will need to find an area that levels the playing field. Hard work is that area because it is possible to work harder than another firm and be more successful. Anyone that works for you needs to work as hard as you also.
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Beatrice McGraw
Aarif Habeeb
Kristel Kinne
Regina Deemer