How to create a successful online business

This post is based on content from guest author Aisha Singh - many thanks Aisha!

When you think about a successful online business, names like Amazon, eBay or Flipkart come to mind. While these companies have mushroomed from garage ventures into colossal corporations, there are also millions today who are making a living out of online properties which are capable of more or less running themselves - think of blogs, classified websites, tech help forums, and even YouTube channels. Case in point - Amit Agarwal, who after working with brands like Merrill Lynch quit his job to become India’s first professional blogger.

Running an online businesses is not only exciting but also many a times allows the owner more time to engage in leisurely activities rather than being stuck in a corporate job all day long. Creating a successful online business is of course no easy feat and you will have to work very hard in the first few months/years in order to reap the rewards later on. With this in mind, below you will find five great tips to get you started:

What does the public want?

If you happen to have a personal blog, take advantage of it and start asking your readers about their needs and what a great online business could offer them to satisfy these. Think of your blog readers as potential clients of your future online business. If you don't have a blog, another idea is to use Facebook and create a poll in which you ask your friends about their opinion. The third option is to check a free-classified website like sahipasand.com or a Q&A site like quora and take a look at what people are advertising the most, what are their needs? What are they looking for?




Accept and understand your fears

It is understandable that you will experience a whole host of different emotions when creating a business online. You are likely to doubt your abilities and worry for your future, so it is advisable to keep a more reliable job when starting out in this field. In doing so, you will have something to fall back on should your online business not be as successful as hoped.

1. Get yourself a mentor

It is incredibly useful to find a mentor who you respect and can draw inspiration from. This person will be able to advise you and steer you away from making any inconvenient errors.

2. Take action

Now it is true that meticulous planning is key, but you must also act and motivate yourself. Otherwise your online business will just be an intelligent idea on paper and will never become a reality. Follow the steps to start a business plan, fix yourself short-term and long-term goals and work at your best to meet all of them step by step.

3. Patience is a virtue

Yes, the old saying really is true. You cannot expect miracles immediately and therefore, you must be patient if you hope to succeed in this field. Decide on a working sector to open your online business that excites you, as even if you don't make a lot of money, you will still be enthusiastic about your job. Note that even if your business is bound to be a success it'll probably take at least 6 months and a lot of work to start making profit from it. Don't give up if you see it's not growing at the pace you'd wish! Remember that big things take time!

These useful tips will make sure that you get off to a positive start when creating your online business. And Positivity breeds, (yep you guessed it!), positivity. It is more likely that you will find others who share your business vision if you stay optimistic even in a rather drab economy.

Get organised and do your research to find out how you can use contemporary online viral tools such as YouTube, social networking sites and free classified websites to your advantage in order to market your company and in turn, create a successful online business.
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