The Ultimate Guide To Start Online Business From Home

This guide is a proven way to start an online business and make it successful.

If you are an upcoming E-commerce store owner, planning to build an online store, or want to revamp your existing store, this guide is a step-wise tutorial for you.

Our guide helps in successfully setting up an online store keeping in mind the latest trends in the market, best SEO and marketing practices, and more.

You can trust our words, as we are an e-commerce solution provider for Magento and Shopify for years. We have seen brands build exceptionally using these best practices that we have shared here. It is our way of giving back to the community.

And we’re sure it will help you too! So, let’s get into it and learn how to start an online store. 🚀

How To Start Online Business in 2023

1. Decide the type of business and niche
2. Gauge your idea
3. Choose a brand name and logo
4. Select the correct platform to build your website
5. Choose the hosting company
6. Develop a functional store with a simple yet attractive design
7. Add a personal touch
8. Make it easier for potential customers to contact you
9. Work on your Email list
10. Design your SEO strategy
11. Plan a content marketing strategy
12. Explore the potential of social media
13. Work on the website’s performance
14. Multichannel Sales
15. Social Proof to Win the Customers
16. Show your expertise
17. Integrate Accounting Software

1. Decide the type of your business and the niche

The first and foremost step is to decide the type of business to start.

With modern technology and tools, it is possible to grow your online business, be it E-commerce, Saas, online news, blogs, online service, or even online coaching! There are no boundaries to offer what you are an expert at and monetize your talent.

The one thing you need to do is fix your niche. Find your business niche, an idea that can be set up online to profit from the same. As such, there is no scale or study that can measure the success beforehand but you ought to take a risk in the business.

If you are thinking about starting a dropshipping business, you may love to read this article on 100+ best dropshipping products to sell online.

However, a calculative risk can bring money. Decide a niche by keeping in mind your expertise, market demand as well as your passion!

You can also take your existing brick-and-mortar business online. You are already an expert in the field and know your product in and out. All you have to do is take it online to global customers!

2. Gauge your idea

Is your idea any good for an online setup? Is it worth it to start running the business online and be capable of returning a fortune?

Do not just jump right into setting up the online store. It is important to evaluate your idea. Doing so will give you a direction and a general idea of prevailing online trends in your niche. And for that, you can:

• • Perform a Google search
  • Look into exact and wider keywords that are popular
  • Checkout competitors in that niche
  • Study the social media platforms like Facebook, Twitter, Youtube, etc
  • Check the renowned marketplaces selling similar products
  • Do an Amazon search

3. Choose a brand name and logo

Now comes the most exciting part of setting up the online store. You have to decide on the brand name and the logo.

Get this step right and you are on people’s talk every now and then. You can take time out with your team and ponder over the emotional association you want with your brand. Be it power, funny, etc. At this point, you can note down the gist of the discussion to frame the brand guidelines in the future.

Concluding with the brand name can make it clear for you to design the mascot and the logo. Also, register your domain once the brand name is decided. You can consider these points while deciding on the brand name:

•  It must be readable
• It must be catchy, short, and easy to remember
• Keyword-included names can be helpful (but it’s optional)

Create a logo that can reflect the brand motto or the niche. However, there is no rule as such for designing the logo. One can also make use of an advanced logo maker will be helpful in designing a captivating emblem for your business without making efforts from scratch.

Remember, your brand name or logo is only the first step in building a strong, memorable brand. There’s still a long way to go.

4. Select the correct platform to build your website

Magento, Shopify, Woocommerce, OpenCart, and more the list is long in choosing the perfect e-commerce store.

It can be confusing to choose from so many options and that too the one which is best suitable for your business. If you are new to CMS platforms, you can go through comparison guides like Magento vs Shopify, Shopify vs Woocommerce, and much more available out there.

Definitely a tough task but not if you check the pros and cons of each and then take a calculative decision. At Meetanshi, the experts and developers in the field of E-commerce recommend Magento 2 and there are reasons for the same. However, you also need to consider factors like your budget, the size of the website that you plan to build, the complexity level that you can handle, the developers hiring availability, sample business plan, etc.

5. Choose the hosting company

Every online store requires hosting. And if you are just starting the venture, it is too costly for you to host your own website, and hence you need an external host which will provide the server to store your data for the visitors to access all the time.

Depending on the requirements and budget, you can choose a shared or dedicated server. There are certain points to keep in mind while deciding on your hosting partners such as security, performance, server location, cost, and reviews.

Worldwide, there are over 330,000 web hosting providers as per Hostingtribunal. It can be a tough task to decide but a calculative decision can help in the long run.

You can read this related post that discusses the factors to keep in mind while choosing the hosting and some of the best Magento hosting providers.

6. Develop a functional store with a simple yet attractive design

Now is the time to start the real action.

If you are a developer, start the development of the features that will ease customers’ shopping process or hire a developer to develop them for you.

Make sure of the small details. Check every button, link, banner, cart function, product, category, and everything continuously. Test each functionality. It must not be the case that a visitor will abandon your store due to some technical glitch.

Moreover, pay attention to the design of the store. Design it as per the niche but do not overcomplicate the layout that may confuse the visitors and frustrate them to the level that they abandon your store.

A simple design with all the functionalities in place is a kickstart to your store development process.

7. Add a personal touch

Add your face. People will trust a person more than a company.

A human face helps create a connection with the potential customer that will help in customer engagement and boost conversion. Moreover, people can easily remember you, trust you, and even interact with you.

Doing so sets you apart from the competitor. You can also share an authentic story in this phase that can add emotion and attract customers. But, its effectiveness depends on your niche.

8. Make it easier for potential customers to contact you

Make sure to update the social media profiles and link them to your website. People will want to find out about you and what others are talking about you from your network. They would want to check your brand’s social media profiles.

Also, update the email IDs and the contact page appropriately and make them display clearly on your site for people to find your contact details easily.

Such details help in establishing your brand as trustworthy, the one that is ready to give answers, acknowledge users’ issues, and address them with their products or services.

9. Work on your Email list from day 1

Grow your email list. You might be wondering that in the age of social media marketing, are Emails effective? Here are the statistics from HubSpot that will solve your doubts:

• 93% of B2B marketers use email to distribute content.
• 73% of millennials prefer communications from businesses to come via email.
• 99% of consumers check their email every day.
• 80% of business professionals believe that email marketing software increases customer retention.

There is no exaggeration to say that emails have been and are an effective sales channel. Focus on it and get people to sign up for your newsletters.

You can try the exit popups, offer free ebooks in email, or simply a subscribe button at the appropriate place. The choice is yours!

10. Design your SEO strategy

Work for organic traffic from search engines. Check if your on-page SEO is in place. If you are a Magento 2 store owner, this guide might help you.

Also, take time out for off-page SEO and technical SEO. If your SEO strategy is in the right direction, the search engines will reward those efforts with better SERPs. It will make it easier for people to find your store on relative keywords.

11. Plan a content marketing strategy

Content is king! 97% of marketers believe that content marketing is an essential part of their marketing strategy

A few things go hand in hand while building an E-commerce store. And the content strategy is one of them. It is a part of your marketing strategy. Be ready with your content outline, what type of content is going to be your cornerstone content or pillar content, how you are going to invest in a blog, in what form of content are you going to focus on in order to get the most out of as per your niche.

For example, which content works best for you, is it blog posts, videos, or simply your product description is written carefully to convince the shoppers that they need your product.

Make sure your business does not lag behind. Do all that is needed for your content writing and marketing efforts to be in place right from the initial stage of a website.

12. Explore the potential of social media

In 2021, an estimated 4.26 billion people were using social media worldwide, a number projected to increase to almost 6 billion in 2027 as per Statista.

This is an INDICATOR!

Social media with such a huge audience can make an impact on your brand. Find a suitable social media platform for your niche and start working on it. For example, if your target audience is women, make sure you keep your Pinterest profile up to date, if your target audience is people between 19-25 age group, do not miss out on Snapchat, and for B2B businesses, LinkedIn is gold.

Build your brand, increase traffic, and boost customer engagement as well as conversion through social media activity.

13. Multichannel Sales

It is crucial to market and offer your products on various platforms for any E-commerce business, as it helps to attract a large number of potential clients. Not limiting to just your online store for business but exploring all the channels for marketing and selling is called omnichannel marketing and multichannel approach to sales.

Omnichannel marketing refers to a multichannel approach to sales that helps in improving traffic and conversion rates whether they are shopping online via your site or some other platform. It is an essential solution for people who want to reach a broader audience.

With roughly 2.96 billion monthly active users as of the first quarter of 2022, Facebook is the biggest social network worldwide as per Statista. With such a huge audience, Facebook has the best potential to reach the potential audience and if you are a Magento 2 store owner, things become easy with Magento 2 Facebook Shop Integration extension.

Other platforms that you can explore for your online businesses are Pinterest if your target audience is women, Snapchat for teenagers target audience, Instagram, and niche-specific marketplaces.

You can explore these platforms based on the type of your business and offer your products there also in addition to setting up your online store.

14. Work on the website’s performance

Speed is now a landing page factor for Google Search and Ads – Addy & Ilya from Google. Pinterest increased search engine traffic and sign-ups by 15% when they reduced perceived wait times by 40%. – Pinterest Engineering Blog.

Speed is a crucial factor for conversion rate and search engine optimizations. So do not ignore it because even if you have a beautiful, functional website with the best quality products and support, your potential customers are not going to wait for you.

If you are a Magento 2 store owner, here is a guide for you: 9 easy steps to speed up your Magento 2 store.

15. Social Proof to Win the Customers

You can use social proof to increase the conversion rate in the online store. Wikipedia defines social proof as,

“A psychological and social phenomenon wherein people copy the actions of others in an attempt to undertake behaviour in a given situation.” You can leverage this tactic by making it easy for customers to convert who are worried about their purchase decision.

During a 2020 survey of U.S. online customers, 94% of respondents agreed that positive reviews made them more likely to use a business. – Statista

So, work on this aspect by asking customers to leave a review, collaborating with an influencer, acquiring a valued certificate, etc.

16. Show your expertise

Participate in online communities in your niche. Be active on platforms like Reddit, Quora, and other forums to answer niche queries. Doing so will benefit you in multiple ways.

When you’ll repeatedly solve various niche issues, you can establish yourself as an expert in that niche. People would want to do business with an expert like you. The additional benefit is branding.

Such small efforts can give a boost to your brand which is much needed in the initial phase.

17. Integrate Accounting Software

Accounting is very crucial for recording financial transactions in any business. It is quite useful for preparing financial statements. You can make use of various accounting software for managing tasks more easily and quickly. It helps you to track income and expenditures, create a budget, and to carry out future projections.

Almost all businesses have started to switch to accounting automation systems. The key benefit of using such software is that it allows business owners to track financial transactions and get financial reports ready in no time.

If you are a Magento 2 user and are willing to improve the accounts and finance of the Magento 2 store then, Meetanshi’s Magento 2 Quickbooks Online Integration extension helps by integrating one of the leading accounting software, QuickBooks Online with Magento 2. This extension is quite useful for the vendors that help to automatically sync all data from Magento to Quickbooks.

Integrating this software improves productivity and even helps to gain visibility about a company’s financial health, so as to make decisions appropriately.

Additionally, with Quickbooks Online accounting software, you can use Magento 2 QuickBooks Payments extension to capture secure online payments in Magento 2 store by integrating the Quickbooks payment gateway.

Conclusion

That’s all for starting an online business. 

We hope this guide helps you to build your brand new online store, and we encourage you to use the link and tips for starting an online business that we have shared in the guide. It will help to make the process much smoother for you.

If you are thinking to start an online eCommerce, you may find this article helpful – Top 9 Ways for Successful E-commerce Returns Management [2023].

We will keep updating this list with the latest trends and technology that will help an upcoming store owner. For now, you can follow this list for guaranteed success.

Also, if you have any questions or suggestions regarding online store setup when it comes to SEO or marketing, do mention them in the comments section below. We’d be happy to guide you.

Good luck in starting your online business!

Also Read: Shopify Vs Sqaurespace: Which one to use in 2024?

Frequently Asked Questions

1. What is the best type of online business to start?
Ans: It completely depends on your personal preference and expertise. You can either go for service-based (offering freelancing services) or product-based (selling your products online).

2. Can you start an online business with no money?
Ans: You can start an online business with minimum capital. You might have to incur some costs while purchasing your domain, or opting for a website builder.