Finding the treasure in the online world may not be as easy as it sounds. There is the various business type with its own characteristic. Before discussing further, you need to know the definition of the online business itself. Online business is any kind of business activity that done through the internet. If there is a business owner that most or all of their business applied with internet then it can be called as an online business activity.
Online business is including selling and buying online, providing online service and others. Basically, you are possible to start selling your business idea or product through internet. It means that anyone can do business on the internet. In fact, traditional and modern business activity through the internet has the same concept. The differences are online business will need to provide an attractive website to gain success.
Online Business Type, Benefit,and Its Challenge
Basically, there are several basic types of business type on the internet. Those are a website, blog, online store, marketplace and social media account. Need more detailed information? Here are as follow:
Recommended online business:
- Pay per click publisher
Almost all online business person already follow this program because of its easiness and simplicity. PPC is a program where we will get paid if there is someone click the advertisement in our blog or website. The commision given is varied start from $0.01 up to $20 for each click. Some click is even offered more paid amount. There is an enormous PPC broker such as Google Adsense, AdBrite, AdEngage, AdToll, Adster, BidVertiser and etc.
- Creating your own product
If you are having great skill in a certain field then you better make your own product or offering service. You can start by selling it by packaging it in a digital product such as software, ebook,and video training. Having a personalized product or service will provide you more profit.
- Online store
If you have an offline business then you can start to sell it online. Create an online store and put a catalog with your product or service offer and the price of each unit.
- Online services
Do you have website creator skill? Drawing? Graphic design or other? This skill can be your valuable commodity. Any kind of skill can be sold through the internet. Even the skill to make a blog template is also possible to become a promising business.
- Paid to review
Paid to review is one of your sources to gain money from the internet through your blogging activity. You can review or write an articleabout a certain product from the advertiser. There is various PTR broker oninternets such as sports, linkworth, blogvertise, SponsoredReviews, and others.
- Dropship and reseller
If you do not want to spend any fund to gain money from the internet then you can start to become a reseller or drop shipper. You can use the discount offer toward customer to gain more profit.
- Affiliate marketing
Affiliate marketing is a kind of internet based business by selling other people product on the internet. Each of purchasing that happen will provide us some commission. Usually, the commission system will be around 30 % : 70% or 50% : 50%. Affiliate marketer with high skill and credibility is even possible to get bigger commissions rather than the advertiser. One famous affiliate is Clickbank.com.
Unrecommended online business:
Some business online is not recommended since it contains a high risk of losing or need high skill from most of the internet-based business owner. Here are several types of business online that is not recommended for the beginner.
- Online forex trading
Online forex trading considered a profitable business with a high risk. This type of online business needs a skilled person to avoid losing a lot of money. An unskilled beginner should not put their money in this field.
- Domain parking
Domain parking means you are buying several domains but let it empty to be a park or taking a benefit from the empty domain. The empty domain can be fulfilled with the advertisement. You can get profit from the advertisement.
- Membership system
If you have the specific skill then you can get some online course or paid forum. Any person that is willing to join will need to pain some monthly payment. Another kind of example is the paid line advertisement site. You will get paid if there is an advertiser who put an advertisement in your advertisement site. Providing advertisement space in your blog and offering it to the person who willing to put an advertisement in there is also may resulting profit.
The benefit of online business:
- Save the cost to rent the place and hire an employee
- Flexibility and an enormous amount of product type
- Easy access to the internet, whenever, wherever.
- Challenge of online business:
- The need for technical skill of website and internet
- Cost expense for the gadget, computer,and supporting software
- Online cheat risk
Before starting to build your own online business, you need to understand the internet technology itself. At least, you need to know well about computer and supporting software usage. Having an online business, you will get cheaper start-up funding. The Internet-based business also easy to access from any place at any time. Simple but possible to reach the wide market is the next advantage of having an online business.
It is not an impossible thing since you can reach a customer around the world. Seems not enough, internet-basedon business will save the time and cost. You are even possible to save thebudget for promoting your product or service without limitation of time. Online payment is also provided more profit for your business.
Finding treasure in online world, the first step to do
1.Stay focused in a single category
If you want to start selling a product then you need to decide what kind of product that is perfect to sell. To make a decision, do some simple research about a popular product. Choose a single product that you want to develop. Find deeper potential of the targeted market. Once you decided, put the whole product in your catalog. Focusing on a single product category will be easily put your maximum effort. Besides that, the customer is also easily found out what they are looking for and needed.
2.Choose supplier carefully
Once you have found the product that you want then you can start to choose the supplier either by choosing a reseller or drop shipper system.
3.Providing clear information contact
It is important to provide clear information for the potential customer because it is the only way of connecting you with them. There is various contact detail that can be put in such as online chatting, social media, instant messenger or specific application. Once you have put your contact then you better provide maximum respond. Do not forget to also insert the sending and payment method to gain customer trust in the transaction process.
4.Start the promotion campaign
Using social media is an effectiveway to promote your online business. You may use Facebook, Instagram or another marketplace. Create branding to gain maximum trust.
5.Do creative innovation
Set website with the professional look and good domain to build customer trust. Place important feature to make an easy access.
Finding treasure in online world, the reason of failure
- The wrong mindset in mind
Your mindset is a basic element of your success and failure. The wrong mindset will only lead you to failure. The example of the wrong mindset is the point of view that online business will make you’re rich instantly, need no money at all to start the business or thinking that it is as easy as turn your hand palm at once. This series of the wrong mindset will make you difficult to develop
- Less knowledge of online business
Successful online business is not simply doing trial and error process. Even if you want to do some trial and error, you still need to have the basic knowledge to do it. At least, you need to know about how to make email, creating website or blog, make social media account, marketplace and other. You need to learn about online business continuously with practically applied to find the best technique and strategy.
- Less focused
Choosing one or two kinds of business is the best option for a beginner. Choose the one that perfectly matched with your skill and ability.
- Less seriously to do the business
Offline and online business needs a serious mind. Do not ever feel satisfied quickly without learning to face failure and creating more profit.
- Less willing to increase online business skill
Online business is a dynamic world. That is why you better always increasing your skill and knowledge. Try to learn the newest marketing strategy, learn to maintain great communication with customer and etc.
- Less innovative
Without innovation, you will be left behind by a new player in the online business. You can try to make innovation in your website technology, marketing strategy or communication.
- Underestimating the power of social media
- Social media is proven its huge impact on customer interest.
- Do continuous evaluation
- Use the data that you have collected and then make a huge evaluation.
- Miss understanding of the traffic
Do not use spamming as your main way to get a visitor. Clique, share link website or other spamming technique will not make the visitor stay longer.
Being aware of common failure aspect will make you easily finding the treasure in the online world.