Starting an online business is no walk in the park. It takes guts and a lot of skill. Almost all of those who have tried (and succeeded) can attest to this. Just like with any entrepreneurial venture, it is vital that you have done your wide-scope research on the business you intend to dip your toes in.
This research will help you identify which skills you need to start an online business & be successful. And today we’ll be talking about exactly that! Stay tuned to discover which skills are essential and how you can own them.
5 Skills You Need To Start An Online Business
1. Digital marketing and sales
The first skills you need to start an online business is Digital marketing and sales. There is a market out there for everything. If you have an unusually out-of-the-box idea, I can guarantee you there is a huge demand for it. But, this is all dependent on how well you market yourself.
You have to let your target market know you exist and (more importantly) you need to keep their attention. Without a road map, there will be no way for your target customers to find you and subsequently, nobody will buy your product or service.
There are numerous marketing strategies that you can employ. You should take your time to thoroughly grasp the concept of each one. Some of the branches you should focus on include: Inbound marketing, Affiliate marketing, Native advertising, Email and online PR SEO.
Let’s focus on SEO, which stands for Search Engine Optimization. This is the process of getting your content as high up on Google (or any search engine) as you possibly can. By doing this, you are increasing the possibility for your product to be discovered by customers. You will also be increasing the amount of traffic drawn to your business’ website.
We won’t be going into the technicalities of SEO because it is quite intricate. We will, however, remind you that SEO is your best friend. Everyone who uses the internet, navigates the web mainly through search engines. This is why it is vital that you tweak your content in a way which aligns with what customers will search online.
As said above, there are many strategies you can adopt and you might be feeling a little overwhelmed with all this information. But fear not! There are many online courses that will equip you with the skills you need to start an online business.
2. Time management
In the business world, time is money. Each second is a precious commodity that shouldn’t go to waste. With an online business, especially when you’re in your early stages of development, you have to allocate sufficient time and energy to kick off your business.
Draft a daily to-do list. If you’re a procrastinator like me, a great hack that I found is writing your to-do list the night before and setting up your desk with all the things you’ll need the next day to complete the list. When you wake up in the morning, you won’t be wasting valuable time figuring out what you need to do and where your pens and papers are; you can get straight to work.
If you’re really struggling with time management, there are online courses you can enroll into. Not only will you learn tips on how to manage your time, you’ll also be able to delve deep into yourself to figure out the root cause of these time management issues.
3. Leadership and delegation skills
With great power comes great responsibility. All my Spider-Man fanatics know that one! If you’re starting your business, it’s safe to assume that you want it to grow and expand. You’ll have a lot of power with your successful business, but you’ll also be responsible for a lot of things.
This could range from coming up with new business ideas all the way to coding your new and improved website. There’s only so much one person can do! This is where two important business skills come in: leadership and delegation. You’ll need to hire extra arms to help you with your successful business and as their leader, you will have to delegate tasks.
Personality matters as well because being personable is a big part of being a leader. You want to be surrounded by people who feel valued and important by you so that they can happily do whatever tasks you’ve skilfully delegated to them.
4. Handling money
My tip would be to keep a business journal where you write down all the financial needs of your business. Do this monthly. This is another area where you can find a surplus of free online courses to join. I would suggest completing these courses before running your business so that you have some knowledge of accounting before you officially start.
5. Customer service
There are so many products and services I love and I keep going back to again and again because I feel like nothing else would compare to them. But, there have ppl a few times where I’ve, quite heartbrokenly, had to let that product go because of terrible customer service.
As humans, we are emotional beings and when we are left with a bad taste in our mouth because of a horrible experience, try as we might, we can’t let go of those emotions. This is why you need to have top standard customer service. No matter how fantastic your product is, you can lose all those customers at the drop of a hat if you treat them badly.
Respond quickly to your customer’s queries. Be polite and patient. When faced with a rude or unhappy customer, stay cool as a cucumber and cleverly direct them towards a better emotion. Answer their questions with an even tone and maybe even throw in some jokes to lighten the mood (I personally love knock-knock jokes. You can never go wrong with them.)
A little kindness can go a long way, and you’ll be shocked that those upset customers who you so charmingly helped, will be the first to sing praises about your product.
Being in the business industry is a competition. If you are solely starting an online business for money, then I’m sorry to burst your bubble but you won’t last long. In order to fight through the competition and come out a winner, you need passion, confidence and interest in your craft.
If you are selling a service online, yes you need to know the business aspect of how to sell yourself or how to advertise online, but you also need to actually know the service. Find your passion first, become an expert in it, and then start the business.
With these 5 key skills you need to start an online business, you will have a good success rate in the long run. If you liked this article and you would love to read more, kindly subscribe to Waptutors below. Thanks for reading.