3 Tips for Young Entrepreneurs – Start and grow your online business rapidly

One of the easiest ways to become an entrepreneur is to start an online business. It might be obviously simple, but there are a lot of mistakes that can prevent from succeeding or making money online. I will list and explain three (3) of the most important measures or things to know before starting your online adventure.

  1. Determine your target audience

In order to grow your online business fast and satisfy existing needs, you must determine your target audience. It is important to study the audience and choose an appropriate niche. No good results can be achieved when one creates a website that covers a lot of subjects or offers a variety of products. A Young Entrepreneur’s budget is limited. Therefore, it is impossible to compete with the giant competitors (Amazon, Google, Facebook, Alibaba, etc.). The first step is to identify your target audience.

  1. Be ready to get dirty and learn through trial and error

As already mentioned above, young entrepreneurs have a limited budget. As a matter of fact, most people don’t start their business journey due to financial reasons. It is too risky for friends, parents or investors to lend money to young entrepreneurs with no experience. So they just stay away. But you can succeed if you think you can.

Once you have a clear idea on what to sell or offer online, the next step is to browse the internet and gather information on past experiences of similar businesses and the challenges. Next, you need to start learning how to set up a website with CMS (WordPress, Joomla, etc.) which is easy. There are thousands of tutorial videos on Youtube that can help. In case you can’t quickly learn creating your first website with CMS, another option is to hire a Web Developer on Elance, Odesk or Freelancer.com. However it is crucial that you are able to fix your website technical issues and don’t hire frequently a freelancer, otherwise you will go out of business in a short period of time because of the expenses.

  1. Choose a reliable hosting provider for your website

As an Online Business Owner, you must keep your website up and running every time. You can’t control when the search engines will send your next customer, but you can make sure you choose a reliable hosting provider. When I started my business journey, it wasn’t easy to understand the hosting plans and decide which hosting provider is the best. I simply did some research with my partner in business (my brother) and made a decision based on the reviews. It is recommended to go with a basic plan and upgrade progressively as needed. The most important aspect to consider is the reliability. Never go with a hosting provider who is constantly performing server upgrades or experiencing technical issues. Your website will be down on a regular basis and all your customers and visitors will fade away.

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