Pretty recently we have been seeing an upsurge in the online businesses. These days, I see people choosing the virtual world over the real one when it comes to start a small business. Well, starting up online has lot more benefits than starting up in the real world, like:
- Easy to set up
- Less investment
- Larger reach to clients
- Better networking
- Less risks
- Can work from anywhere
- Total control and many more..
Now, starting a business online is pretty easy to set up. I would not dwell on that part. But my post today is about Surviving it. Lot of people do start up their small businesses online but are not able to survive there for long.
Here, you will find the tips on how to survive and grow your start up online.
1. List out your resources
It is very important to list out from where are you going to get the stuff from. You can either partner with some suppliers and sell their product online via your page or website or you can have your own stock. Do not stick to one supplier only, always have minimum of five at your hand.
2. Chose reliable resources
Building Trust in your customer about your business is the most important thing. Always chose your resources / suppliers carefully after a research on them who you can rely on for the products and the quality because ultimately you will be facing the wrath of a customer if things are not of quality leading to a bad business name.
3. Give genuine and correct information
An online business usually thrives on product images and description. This is why usually people avoid buying products online. To stand out and be trustworthy, always give your customer what you show. Give out real time images of the product and every single detail of the product in the description that the customer needs to know. This builds a confidence in the buyer to go ahead for the product.
4. Have a strong network with clients as well as suppliers
Having a strong network means stay always connected with your clients and suppliers for the on going orders and the order status. Keep tracking your orders and give out correct information to the buyer about the delivery time. For this you need to have a strongly connected and communicative pack of suppliers.
5. Keep Records
Keep all the records of the orders like – completed, on going or pending along with client name, address, contact number, product ordered and rest of the misc. details to avoid confusion and missing out any of the orders.
6. Post Daily
Do not forget to post almost daily about your business, new products launched, upcoming products / services, events, contests, sale etc. on your page or website and share it with everyone. This keeps you in the market and people start recognising your business.
7. Invest a little in promotion (Optional)
If you have some little money spare that you can invest in promoting your business and you own a credit card, you might just go for the promotional deal that the social networking sites offer these days. This is absolutely optional but no harm to try once too.
8. Research your competition
You are never alone in a business. There is competition everywhere. To survive in the dynamic market, you need to be well aware about your competition too. Go through their websites, product descriptions, pages, reviews and do a detailed research on them to know what their strengths and weaknesses are and where do you have an edge over them. This will also help you in fixing the product prices according to market rates.
9. Always take feedback
Once you have delivered the product to the client, the task does not ends there. Always Re-connect with the client and take feedback about the product, his entire experience of shopping or ordering with your business and so on. This will help you understand your network of suppliers better and the shortcomings which need to be rectified and the plus points that can give you an upper hand over the competition.
10. Never be scared of a rude client.
You started up a cute business and you wish all the clients end up happy thanking and praising you for the product they got. It is a fairy tale dream. You will be connected to various kinds of people with different attitudes, attributes, manners and behaviours. And you can’t keep them all happy. So never be scared or afraid from a client who is or was never very happy or behaved very rude or gave you a bad review. They are everywhere. Deal with them.
11. Return Policy
Do not indulge into arguments, see what you can do to rectify the issue and if still not, a product return and entire money refund offer works wonders. Initially you will have to do such things too. Later on when you get established and have spent around 6 – 8 months in the business and start getting recognition, be clear with the return policy of your business.
These are a few tips on how to survive the little online business you wish to start or have started. I hope they help.
Happy Earning 😀