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Want to Earn Extra Income? Here’s How to Start an Online Business With Minimal Capital!

In this pandemic period, many people are starting to look for additional income amid the economic uncertainty that is happening. One of them is by starting new businesses in various fields, ranging from food and beverages, health, masks, beauty, and others, which are done online. Online business opportunities are still wide open, but you really have to determine exactly the product you want to sell and the target market. How to start an online business is actually quite easy to do in this sophisticated and online era.

Have the right business mindset

An entrepreneur must be able to regulate his mindset or mindset as a businessman. The initial mindset that you must have is positive thinking to build self-confidence and build motivation so that you can develop more. The second is being responsible for the decisions taken on all aspects related to his business, the welfare of his business and his team. The third is to think about starting from now because nothing is instant, without a process. Fourth is to be ready and dare to fail. Everyone who has been successful must have experienced failure. The way to minimize failure is to be willing to learn from mistakes and criticism from outsiders, never repeat the same mistake a second time. The last is to have a strong commitment and determination to focus on one goal to be achieved.

Define business goals and strategies

Just like other types of business, in building an online business there are several things that we must pay attention to, such as:

  • Capital
  • Products to be sold
  • Target market
  • Marketing strategy
  • Business continuity and business trends

Some tips for finding product ideas in an online business:

  • Look for what is needed by society, look for what is needed by the people around us.
  • We are problem solvers, we are intermediaries for solutions to people’s problems.
  • Exchange the benefits that we can provide, into a form of mutually beneficial transactions.
  • Most people misstep at this stage.

Try to focus on the product first, not on the needs of the people, that many even fall out before reaching the first sale. So you should do product research, and choose products that sell quickly and have a fast turnover, which means there are many who need or have a market.

For the type of product, it can be in the form of physical products, services, or digital.

  • Examples of physical goods, herbal soaps, herbal medicines, watches, smartphones, motorcycles, cars, food, knick-knacks, accessories, houses and buildings, and others.
  • Examples of digital products, can be in the form of credit, ebook, information products, online courses, software.
  • Examples of services, can be by providing website creation services, online marketing services, car rentals, tour & travel agents, air and train ticket payment services, and other services.

Create a website or online shop

After deciding what product to use to start an online business, the next step is to create a website or product catalog. The goal is as a medium to communicate what is offered to potential customers. One of the benefits of running a business via the internet is that you don’t have to use a physical place, such as a shop building, shophouse building, or a large building.
Places to market and place products can be in the form of websites, online stores, social media, or marketplace sites. The cost of making this online store is much lower than creating a physical or conventional store, where you can allocate the budget for promotional or other needs.

Online promotion

The next way to start an online business is to create an online promotion. You can start by using unlucky media, such as Instagram, Facebook, Twitter, and other social media sites. This is one of the fastest ways to spread business and sales information.

Build a business system

One of the keys to success that must be honed to start a business for the first time, is to hone your selling skills. But there is one other thing that should not be forgotten, that in building a business also means building a system. This is an absolute requirement so that the business you build can become an asset. There are a series of processes that ensure the sustainability and sustainability of a business. This process is carried out by the system, so that when you as the owner want to take time off or decide you don’t want to be active anymore in the business that you have started, the business can still run and still bring in passive income.

Until now, there are still many online business ideas and online business opportunities that you can try. The main way to start an online business is to make up your mind and intention. The determining factor for the success of a business, 95% is determined by the quality of the human person. These are things that are non-technical in nature, and the rest are things of a technical nature.

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