Do you know what Google Trends is?
It’s a free tool Google offers that shows you what’s popular and trending right now.
Well, one of the terms that was recently trending had to do with “how to start an online business.”
So I thought I’d save you scrolling through dozens of websites and give you the real-deal facts right now…
These are foundational aspects you likely won’t find on page 1 of Google… but they’re absolutely critical to set yourself up for success right away.
5 Tips to Start an Online Business
Tip #1: Find a mentor (or mentorS).
It helps to find someone who has been where you want to go… so you can soak up all their wisdom and insights. And potentially avoid the stumbling blocks they’ve encountered along the way too.
So of course, the easiest way to do that is by coming to my free On the Edge Summit – which is taking place online on Thursday, July 14th.
Not only will you hear from 8 incredible entrepreneurs who are killing it in the online space right now… who are sharing the winning strategies that work in their businesses…
You'll also be able to ask questions LIVE. And you’ll also get a free gift from each and every one of them.
So you can build valuable relationships IRL… and take a deeper dive into various online business methodologies that appeal to you.
Tip #2: Find a marketable, in-demand idea (if you don’t have one already).
Obviously your biz idea is clutch – and you want to make sure people want it.
So HOW do you do that?
Well, first, you need to determine something you’re passionate about – and that helps SOLVE either a problem or a desire for other people.
Things YOU find easy are often big time struggles for others. And this may just be a good business idea for you.
But here’s the thing… not all ideas are great biz ideas.
So make sure there’s a demand… outside of yourself. LOL
To get started coming up with your biz idea, grab a pen and paper and make a list of:
- Things you’re good at.
- What people ask you about all the time – or marvel that you know how to do.
- Personal hobbies or interests you’re super passionate about..
Maybe you’re great at computer stuff. Or art. Or tricking your kids into eating healthy foods. LOL
Maybe you’re passionate about yoga…
Or you’re mega into Pinterest and love creating DIY products like candles or decorations or soaps.
This is your starting point… your PASSION.
Way too often I see people focus on the money and lifestyle they desire… instead of what they’re really into.
And here’s my hot take… this is an underlying reason why 90% of new businesses fail.
Yes of course, there are lots of things that play into this statistic, like:
- Underestimating costs.
- Poor business skills.
- And not really doing the homework on market demand…
But these are all learnable aspects of doing business.
But if you’re not PASSIONATE about what you’re doing – you don’t truly BELIEVE in what you have to offer…
When times get tough (and yes, they will)... you’re gonna become disillusioned and want to throw in the towel at the first bumps in the road.
Tip #3: Search out your competitors online and see what they’re doing.
So let’s talk about this whole competition and market demand thing.
If you haven’t dont competitive research, it’s a great thing to do before you start your own biz. This will help you confirm there’s a demand for what you want to offer… and shows you what’s already out there.
You can even visit competitors’ physical locations for inspo.
Let’s say you’re super passionate about holistic wellness – and super into yoga.
There are TONS of yoga teachers and studios – both in person and online – that you could check out.
Think about who you want to help with yoga.
Like, are you passionate about helping kids deal with mental health through yoga?
Do you want to help seniors maintain their mobility and independence – and you know yoga is a great tool for that?
Do you want to bring a hot trend to your local area… like goat yoga? (Yes, this is a real thing!)
Don’t just google “yoga” – get specific. Find a niche you’re passionate about serving. And then see what’s already out there.
Evaluate what they’re doing that you love… and what you’d change if it was your own biz.
Tip #4: Write out 3 things you solve or help someone resolve with your biz idea.
Many people seek out solutions based upon problems they’re experiencing… so knowing what these are in your biz is crucial.
These are the “pain points” you’ll build your business around. You’ll also use these terms when you write marketing copy.
You should also flip to the positive point of view – AKA: come up with a list of desired outcomes.
For example, let’s say you’re interested in helping busy moms be healthier.
What are some pain points/problems they’re likely experiencing now that you can help with? Maybe things like:
- Weight loss.
- Low energy.
- Lack of confidence.
- Low self esteem.
- Specific diseases or health issues.
And what are some desired outcomes slash positive results this kind of busy mom would like to have? Maybe:
- More energy.
- Fitting back in the jean size she was wearing a few years ago.
- Greater confidence in how she looks.
- No more disease or a marked improvement in how she feels inside her body.
- Better connections with her family because she’s in a positive frame of mind and able to show up the way she wants to day in and day out.
It’s important to think about the EMOTIONAL aspects that drive people.
Because people don’t buy features.
They buy benefits. They buy emotion. They buy solutions.
So you gotta get to the heart of what your ideal customer or client is looking for – at an emotional level.
I’m not saying skip past what they THINK they want because those are often what people search for.
Here’s a silly example:
Hardly anyone is gonna google “feel confident in my body” – they’re gonna be googling “weight loss.”
So you gotta meet them where they are in their mind… as WELL as in their heart.
This is why the combo of pain points AND desired outcomes is so potent.
Because you can hook ‘em with the pain point… and bring in the desired outcome so they feel seen. Understood. And connected.
And they choose YOU as the partner to help them get what they want.
Maybe you’re like, “Ok Hayley, my biz idea isn’t that deep. I literally just want to make and sell candles. LOL”
Well, first of all, I LOVE candles.
And secondly, you can still address these pain points and desired outcomes in a more nuanced way.
Tip #5: Approach your biz with your ideal customer or client in mind.
So for your candle-making biz, think of who your perfect purchaser would be.
What’s her vibe? What’s she into?
Is she a sassy soccer mom from the suburbs who is obsessed with The Bachelor and sneaks booze at the beach?
Or is she an upscale mom who shops at Neimans, sits front row at Fashion Week, and lives in a NYC penthouse?
Both those moms probably like candles… but which candles they’d buy are probably different right?
It’s like the difference between $12 Yankee Candles from Bed Bath and Beyond and a $355 Diptyque from a super trendy downtown boutique. (And yes, people actually pay $355 for a candle. Nuts, I know.)
To get the right people to buy your candles, you gotta get to WHY someone would want your product.
How do they want to feel? Is there a status component involved? What expectations will they have of the candle?
For example, what’s actually IN it? Who makes it? What vibe does the scent bring? What vibe does your BRAND and business have?
These are all emotion-based things to think about. It’s way more than “it makes the air smell good.”
The logistics of starting an online business are relatively straight forward. Those are the sorts of things you can find on Google really easily. Like:
- Creating a website.
- Finding an ecommerce solution.
- Setting up social media.
- Writing emails, etc.
Those are the obvious things people THINK they need to start with when creating an online biz.
When the truth is… you gotta start with the mindset… and the foundations and WHY of your biz if you want to be successful long term.
All the tactical bits? Totally basic. Totally learnable. Totally NOT what makes or breaks you in the online biz world.
Where you’ll get TONS of ideas for your own online biz, whether you have one now already and are looking to take your success to the next level, or you’re just starting out.
Maybe thinking about starting an online biz or monetizing a hobby you have.
Or just bringing in a few extra hundred bucks a month. Whether that’s fun money or to help you achieve a specific goal you have in mind. Like pay off your debt, or save for your kids’ college fund.
You’ll find loads of incredible hacks, ideas, inspo, and legit turnkey biz opportunities you can step into right away inside the On the Edge Summit.
I really can’t wait to hear what this year’s lineup has to share so make sure you get your free ticket before ya forget.
I’ll see ya online.
XO,
Hayley