India has seen a dramatic rise of Entrepreneurship of late. Amidst this clamor, we all are blinded from one of the most powerful techniques to foster Entrepreneurship and make money – “Online Business”. In this article, we will have a brief introduction to Online Businesses along with why and how to have an Online Business. I want to keep this article short, so I will split this topic into different articles.
What is an Online Business?
Most of us often miss the subtle difference between online businesses and businesses who have platforms online like Amazon, Paytm, Flipkart, etc. The difference between the former and the latter is that the online platform is helping to make business for the latter, but their business domain is entirely different. For ex: Amazon uses an online platform to sell goods, but the main business it has is goods aggregation and logistics (broadly defined).
Online business is entirely on a different spectrum – they survive only on money made online. (How? we will discuss in a bit). It is such a great tool that suffice your Entrepreneurship zeal and can even make you a millionaire. One of the best things about an Online Business is its diversified nature – it can be just a simple blog to a very big firm of consultation. We will anyways be discussing a lot of online business stuff in StartupSutra, which in itself is an Online Business.
Before we dig deeper into Online Businesses, let us discuss StartupSutra as a case study. I’ll keep it brief since I’ve already written about it in another blog post.
StartupSutra – An Online Business
After failing so many times, even to startup, I’ve finally decided to do something new in Entrepreneurship. I learned about a podcast and after hearing to so many of them, I started reading about online business. With the growing adoption rate of the Internet in India, it made complete sense to experiment with Online Business Ventures. The more I read about it, the more fascinated I became.
The best thing I realized about starting StartupSutra is that I’m doing what I love to do, I’ll get paid for it, I’m learning a new dimension on a whole, and the best part is the diversification of Online Business, which is just out of the earth.
If you want to read more about StartupSutra – go check it here!
How to start an Online Business?
With all that said about Online Businesses, the best part of it is that it requires relatively negligible effort to set up and start. But, important thing is to have a proper plan about how you’re going to proceed. Let us now make an awesome online business for you!
Online business is a huge term to fit everything in an article, so we’re going to talk about setting up a website, essentially, why to set up a website and then how to start earning money doing what you really love and have talent in.
Best way to start an online business – Website
One of the best ways to start earning money through online business is by setting up a website. Again, it is not a web application which requires a lot of effort, skill and so many complicated things. A website is very simple to setup and earns you almost the same amount of money every month.
We will have a separate article all together on Website building and maintenance(geeky yet simple stuff). Subscribe to get notified about it instantly!
Website – Constituents:
Essentially the name of your website (like www.facebook.com). This name will be used to map to a number (or DNS address) which computer understands. You can get it for around Rs.100 – 500 on GoDaddy or from any other domain vendors.
You can think host as a CPU, except it is hosted somewhere and is online. Essentially, host allows you to store data inside it and to display the data to the outside world. Having only domain will not be enough to have your website. It requires a host where you can have your data stored which can be accessed through your domain name.
None of the above makes sense without having a website. One of the easiest ways to start your website is through WordPress. It provides you with everything you would require to start. Themes (paid/free) which would allow you to make a stunning website without having even the basic knowledge of HTML, CSS, JS, etc. There are so many readily available plugins almost for anything that you could think of – from SEO tools to Google Adsense integration, etc. There would be a separate article about WordPress and site making soon. So, Subscribe to get notified!
The importance of content can’t be emphasized enough. No matter how good your website is, how well you’ve marketed it, the content is what will get you the traction and will make your traction stay longer.
So, before starting a blog based website or in that case any website, decide thoroughly after brainstorming what you want your website to be. Read more about brainstorming and market research here!
After deciding the type of the website you’re going to have, start developing content consistently. There are hundreds of ways you can deliver content and make money through that. Actually, you can make millions out of it. We will discuss an Entrepreneur in one of my future articles, who inspired me the most and is one of the most successful Entrepreneurs of the online business domain.
Online businesses are one of the most sustainable options to make good enough money. Keep it in mind that it isn’t an overnight success, but with relatively less effort and difficulty, you can easily make an online business at least for your second source of income.
Online business – Blog based websites will make you money through multiple sources. Few sources of making money through websites:
- Google Adsense – Through Ads on your website.
- Affiliate Marketing – Marketing somebody else’s product and taking a share of it.
- Sponsored Content – Produce sponsored content after your website has good enough traffic.
- Sell online services – Sell online services like online courses to make money.
- Consultation – Start consultation in the domain of your expertise and make money.
We will wrap this article here and in the next article, we will be talking about how to start making money from the above sources. And, some description about one of the inspiring Entrepreneurs of Online Business – Pat Flynn.
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