Thinking about starting a business, then you must have a website.
Whether it is a bricks and mortar store or a business that runs through social media, a website helps build an online presence and reach more customers. The more customers you can reach, the better earnings for the business.
Nowadays, even traditional businesses are also establishing their online presence with a website to attract more customers. So, starting a website not only boosts your brand recognition but also brings more customers.
There are all kinds of information available on the internet to start a business on your own such as books, podcasts, YouTube videos, courses, etc. just to name a few. Use these resources to brush up your skills and apply them wisely to your business or website.
Not sure what the kind of business to start, then check out our article on Finding Your Niche Guide.
We have compiled five easy steps to start your own business.
Step 1 – Be Realistic
Before you start a business, the first thing you need is a business idea. Ideas are great, but sometimes they lack clarity and proper planning, so be as realistic as possible.
I've wanted to build a rocket and fly to the moon, but that's not going to happen any time soon, and that's not a realistic goal. So, don't go overboard with your goals like flying to the moon and set some achievable goals for your business like I want to start a business.
Being realistic not only helps you in achieving goals but also keeps you away from unnecessary risks.So how realistic is your business? If you want to have a realistic idea, then ask yourself the following questions.
1. BudgetFirst thing that comes to mind when starting a business is how much should I invest in it. Are you in a position to start a business without any financial assistance, or should you opt for a business loan? It depends on many parameters. For example, it is risky to invest your own money entirely in the business. A debt-equity ratio of 1:1.5 is recommended, i.e., for every 1 rupee you invest debt must be 1.5 rupees. Interest on the debt is tax-deductible.
2. TimeAre you hustling on the side, or can you devote your entire time for the business? If you are an employee, then side hustling might take time to establish a successful business. On the other hand, if you can work for your business on a full-time basis, then it is easier to reach your target. So, plan according to your available time and make sure to use it more efficiently.
3. Experience"Judgement comes from experience, and excellent judgement comes from bad experience" - Bob Packwood (American Politician) Starting a business without any experience is scary, and how do you run a business successfully? The answer is by failing miserably in the first business you start. Bad experiences are a chance to learn something new and profound to use it in our lives. Most of the start-ups failed within the first five years of starting their business. No one will succeed 100% in their first attempt at business. So, brace yourself for failure and make necessary preparations. But if you want to go against the odds, then bring in an experienced partner to the business.
4. What is Your USPUSP - Unique selling point. What differentiates your business from competitors is called USP. If you don't have it, then in this competitive world survival becomes your primary priority rather than growing the business. Give something unique to the customers that they can't refuse and can't find anywhere else in the market. Your USP can be good customer care, competitive price, or durability, etc. Prepare a solid business plan which includes what the strengths, weakness, opportunities and threats (SWOT Analysis) are. For Example, how to turn your weakness into strengths, minimizing threats and finding new opportunities for the business, how to withstand losses and still run the company, etc. this is not an exclusive list and may include detailed planning of every step in the business plan.
Step 2 – Create Your Business Website
Up until this point, you managed to come up with a realistic idea, a business plan, USP, etc. Now it’s time to create a website.
35% of the websites on the internet use WordPress as their content management system. It has a lot of tools and plugins to support your needs. So, WordPress is recommended for beginners as well as advanced users.
Here’s a list of things you need to start a WordPress website:
A Domain Name:A domain name is the name of your web address or website. For example, www.google.com is a domain name. The domain name should represent your business. Visitors must know what kind of business it is by looking at the domain. It is not mandatory, but it improves brand recognition, especially for a start-up. A domain ends with many extensions like .com, in, co, co.uk, etc. .com extension is preferable. If you are targeting customers in a country, then choose the related extension like .us or co.uk. You can buy domains from Google domains, Godaddy, NameCheap, etc. Godaddy and name cheap offer the best rates.
2. Hosting:All your website files need to be stored somewhere, and that's where hosting comes into the picture. WordPress recommends three hosting providers - Bluehost, Dreamhost and Siteground. Bluehost is a very popular and primary recommendation of WordPress. The prices and features may differ from one provider to the another, so make sure to choose the provider according to your hosting needs. There are other hosting providers other than the hostings mentioned above, like Hostinger, Hostgator, a2hosting, etc.
3. Website Design:The first thing a visitor observes is your homepage and loading speeds. Homepage needs to be very easy to navigate for the user. Show what your customer wants to see on the website. Visitors will go away if your website is not fast enough. Website speed is included in the Google algorithm for ranking and very crucial in turning leads into customers. Fast loading speeds is an indication of a good website. Remember to design your website with an easy to navigate homepage and menus as well as fast loading speeds. Another aspect of designing a website is its aesthetics. Hire a web designer to make it look like a professional website. It makes an impression on the visitor that the site is authentic and reliable.
3. Promote Your Business:Creating and designing a website is half part of the game, because how your customers will find your products or services without even knowing about them. So, you must promote the products or services through social media, email marketing and other available channels. Don't hesitate to promote, even if you are just a start-up. Promote on both online and offline channels to get more exposure. A few things you will need:
- A Website Logo: Logo is how people recognize your brand, so make sure it is vibrant, clearly visible and distinctive to pop out from competitors' logos.
- Social Media: There are many social media channels like Facebook, Instagram, Twitter, etc. But all the channels might not be a good fit for your business because of how they work. Create those social media accounts or pages that are easy to interact with and which match with your industry.
Step 4 – Register Your WordPress Business
Be smart, Protect Yourself and your business by registering with the respective authorities.
- Register your company name and trademark.
- Take insurance for the business to safeguard from any risks.
- Different companies need to comply with different rules and regulations, LLC, LTD. etc.
Step 5 – Manage your Finances
Financial requirements differ from country to country. Do the groundwork – Know the financial requirements for running a business. Talk to an expert to clear your financial doubts.
Here are a few things to consider:
- Hire an accountant to keep your records up to date and in compliance with local tax laws.
- No. of staff required to operate the business.
- How will you accept money from customers such as PayPal, Stripe, etc.?
- Do you want to open a business account?
Whatever the reason you decided to start a business, keep that thought in your mind when times get tough.
A good plan and a bit of help from family and friends can do wonders for you.
So, if you still hold the thought of starting a business, then this is the right time to do so.