Many people nowadays are not happy with their jobs and that’s a fact. Consequently, they start looking for alternative ways to earn money and that’s when the online business idea comes in. Even if you are satisfied with your job, there’s never too much money and having an additional source of income won’t hurt. Here’s an article that will tell you all about starting your online business to quit 9 to 5 job.
1. Decide the Type Of Your Business
First, you must think of what kind of thing you will be doing. If it’s not your own products, then you could get involved in affiliate marketing or drop shipping. Or alternatively, you could become a freelance. Another way is to start selling your handmade products on Etsy or another similar platform. If you are an artist, this could be a very good way to earn additional money. If you are a writer, you could sell your books on indie online publishing platforms like Smashwords. There’s also Amazon to consider, or you could start buying and selling domain names! However, one of the most popular choices is e-commerce, which can be quite profitable if done right and with good marketing.
2. Find Your Niche
Now you know that you want to start your own online business. But what will you sell? Your mind is probably wandering to all the possibilities open to you. But don’t get too caught up. One of the reasons why starting with a niche rather than a product is better, is because you can build your brand in that very specific category of products you choose. There are several niches that are more in-demand than others. They are:
- Healthy food and drinks
- Feminine products and cosmetics
- Pet food and accessories
- Fandom merchandise
Most of these are easy to find and resell, but there might be problems with fandom merchandise, so you might consider avoiding that choice. The thing is that the company that owns the rights for the brand might get angry with you. For example, Disney owns Star Wars, so they can easily sue you for selling Star Wars merchandise.
3. Scan the Market
Even though you just decided what you want to sell, you have to check again if your products will be bought. Do some research online and see how many competitors you have and how well they are doing. Don’t be scared if you see too much competition. This only means that you either choose a different niche or push on with what you set your mind on.
4. Identify Your Target Audience
This should go without saying that you must know your customers. Some products will be more suitable for a certain demographic, while others might be more widely used. This is why you have to understand who you will be marketing your products and your brand to.
5. Find Your Platform and Start Selling
Now that you’re finally set, you can find a platform you want to be selling on, whether it is Shopify, Amazon, Etsy, or anything else, and actually start selling. You might need to get in touch with the product-making companies, in case you won’t be selling your own stuff. Also, think about marketing beforehand. Congratulations on your new online business! This was an article on starting an online business for quit 9 to 5 job.
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