🚀 Why 2022 is the Best Year to Start an Online Business: 5 Steps to Make 100k
Are you tired of the 9-5 grind and looking for a way to make money on your own terms? Starting an online business may be the answer you've been searching for. With the rise of e-commerce and the increasing number of people shopping online, there has never been a better time to start an online business. In this article, we'll go over the five steps you need to take to make 100k with your online business this year.
Step 1: Find a Product to Sell
The first step in starting an online business is finding a product to sell. This can be the most challenging step for many people, but it doesn't have to be. Look for a product that is in high demand, solves a problem, and is of good quality. You can find these types of products on Amazon, Etsy, and TikTok.
One way to find products on Amazon is by going to the new releases section and seeing what types of products have a lot of reviews. If a product has a hundred or even 50 reviews over the past couple of weeks or months, that's a good sign that it's getting consistent sales. You can also find cool products on TikTok by looking up AliExpress haul videos or product review videos. Pay attention to the comment section to see how much engagement they're getting and if people are asking how they can get the product or if it's a good idea.
Step 2: Find a Supplier
Once you've found a product to sell, the next step is to find a supplier. You want to sell the product for around two and a half to three times what you can get it from the supplier. This way, you can have a profit margin of at least fifteen dollars for every sale you make. You can get a general idea of what you're going to be paying for cost of goods by going on AliExpress or Alibaba and looking up your product keywords.
Step 3: Choose a Platform to Sell On
There are many platforms to choose from when it comes to selling your products online. You have places like Amazon, Etsy, Shopify, and even eBay where there are huge marketplaces of people that are already there for you to get customers. Shopify is a platform that you can build your entire business around. You have free control, and you can sell basically any type of product. Amazon is also a great platform to use because you don't have to worry about finding your customers since they're already there.
Step 4: Advertise Your Product
You can have the best product in the world, but if you don't know how to advertise or market it, then it doesn't matter. There are two ways to advertise your product: the paid route or the organic route. If you take the free route, you just have to create a compelling listing with good pictures and a good description. Make sure you have good keywords in your title so your listing can stand out. If you want to create a Shopify store around your product, you need to figure out how to advertise. You can do this by using YouTube shorts, Pinterest, TikTok, and Instagram reels. Short-form content is completely free nowadays, and there are so many different accounts and people doing this and making seven figures.
Step 5: Take Action
The most important step in starting an online business is taking action. You need to get in the trenches and actually do the work. So many people do all the previous steps but are too afraid to start. You have to understand that regardless of how many course videos you watch or how many YouTube videos you watch, you will not figure out how to successfully create a business until you start and have experience.
Pros and Cons
Pros:
- Flexibility to work on your own terms
- Unlimited earning potential
- Low startup costs compared to brick and mortar businesses
- Access to a global market
Cons:
- Requires a lot of hard work and dedication
- Can take time to see profits
- Can be challenging to find the right product to sell
Highlights
- 2022 is the best year to start an online business
- Find a product that is in high demand, solves a problem, and is of good quality
- Sell the product for around two and a half to three times what you can get it from the supplier
- Choose a platform to sell on, such as Amazon, Etsy, or Shopify
- Advertise your product using the paid or organic route
- Take action and don't be afraid to fail
FAQ
Q: How much money do I need to start an online business?
A: The amount of money you need to start an online business varies depending on the type of business you want to start. However, compared to brick and mortar businesses, online businesses have lower startup costs.
Q: How long does it take to see profits from an online business?
A: It can take time to see profits from an online business. It depends on the type of business you have and how much effort you put into it.
Q: Do I need to have a website to start an online business?
A: No, you don't need to have a website to start an online business. You can sell your products on platforms like Amazon, Etsy, or Shopify.
Resources:
- Amazon: https://www.amazon.com/
- Etsy: https://www.etsy.com/
- TikTok: https://www.tiktok.com/
- AliExpress: https://www.aliexpress.com/
- Alibaba: https://www.alibaba.com/
- Shopify: https://www.shopify.com/
- ClickBank: https://www.clickbank.com/
- AI Chatbot: https://www.voc.ai/product/ai-chatbot
