Starting a Successful Online Business in 2017

August 31, 2017 | Author: | Posted in Small Business

There are literally millions of websites out there, many of them with the aim of selling things. Everyday, thousands more are added in an attempt to obtain just a small portion of the huge marketplace that is online shopping. In 2017, with this overwhelming amount of competition, how can you possibly set yourself apart? We have done the research and come up with a few key strategies that may help guide you on the path to success.

  1. Niche Websites.

There is an old adage in business that you can’t please everybody. And in the online marketplace that is especially true. You are extremely unlikely to become the next Amazon overnight (well, let’s face it. Ever.) However, you may have a chance at being the best online seller of goldfish themed handbags. Obscure, yes. However, if your website is dedicated to just goldfish themed handbags, you are likely the be the only website doing just that. And in Google’s eyes, that makes you the expert on Goldfish themed handbags! If you rank no.1, every single person who searches for goldfish themed handbags will find you first. And you will corner the market. But I can’t make enough money off goldfish themed handbags! you exclaim. But if just 200 people are looking for that item a month (in the world!) you may have created yourself a nice little pipeline.

  1. Err… what’s a pipeline?

That brings me to my second point. It is very difficult to start an online store in 2017 and expect to make a living off it. Instead, you want to build pipelines. Even if your goldfish handbag store only brings in $500 a month. What if you had 10 different niche websites? Suddenly that brings in $5000 a month! Think about it this way, instead of having one big online store with 1000 products, in 2017 it is much more effective to have 10 niche stores with 100 products each. You will be fulfilling the same number of orders, but you’ll be maintaining 10 separate websites. This may sound daunting, but maintaining an online store in 2017 is much easier than even 5 years ag0. We’ll get to that in a future article.

  1. Coming up with ideas.

So you have to come up with 10 different business ideas?! Impossible you say! But it’s quite easy. Think of an area you are already interested in, then narrow it down. Our most recent online store is a Dragon Ball Z Hoodies store. It’s niche, but the fans are die-hard. And competition in relatively low. I love many different anime, but I didn’t want a store selling all types of anime clothing and merchandise – there’s already way too much competition. In a future article I will discuss researching your idea, and keyword analysis. But for now, that’s it! Your job is to think of 10 niche ideas, write them down, and get excited! The next article will discuss how you can quantify the viability of your ideas. See you soon!

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