4 Ways to Successfully Build and Run an Online Business

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In 2018, online is everywhere. When you search for a restaurant you probably start by grabbing your phone and ask Google or Facebook.

In this digital era, the entrepreneur has to be online (LinkedIn, Youtube, Facebook, Twitter, Google and so on). You are no more restrain to be local with your start-up or established business, you can reach people globally.

Running an online business is amazing. But how, exactly, do you do it successfully? Let’s take a look at how to run an online business below:

1. Build the right team

The key to running a successful online business? The right team. Hiring the right people to work for your online business. This simple strategy can mean the difference between your business taking off or it crashing and burning. Every member of your team needs to have the same vision as you. If you hire or team-up with someone that just wants to earn money, he or she will not be fully involved in your business.

I did that mistake. In 2015 I wanted to put my business to the next level so I’ve decided to hire and select employees and team members. Less than 1 year later I was completely out of money, my employees didn’t care about my business (they only care about their salaries) and my network marketing team doesn’t produce enough (and some, doesn’t produce at all) despite all the energy I put.

Getting to understand your potential team is essential in all hiring situations, but even more so for virtual workers. You aren’t going to get to know them at the water cooler or on a lunch break, so that element of familiarity will be gone. This distance can lead to some difficulty in accurately assessing character.

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Not everyone thrives in an online environment, so it’s important to find people who can work independently, hit deadlines, and can be trusted to get things done without you looking over their shoulder.

If you want to make sure you’re hiring the right people, ask them to work with you on a project basis before you bring them on; that way, you can see what it’s like to work with them and if they can handle working 100% online before you put the time, energy, and resources into training them.

“Teamwork is the ability to work together toward a common vision. The ability to direct individual accomplishments toward organizational objectives. It is the fuel that allows common people to attain uncommon results.” – Andrew Carnegie

2. Outsource whenever possible

One of the major benefits of running an online business is you’re not limited to your local area. You can hire people 10 miles away or 10,000 miles away.

For example, with my blog and my social media, I don’t need to have a full-time graphic designer. I prefer to hire a freelancer that can do the job done in 24 to 48 hours on Fiverr, Freelancer or with my contacts on LinkedIn and Facebook. It cost much less money than hiring a full-time graphic designer as employees and it helps a freelance to have work and be known too.

It’s the reason why outsourcing is so popular with online business owners. By leveraging the differences in the global economy. You can hire top talent at a fraction of the cost of what you’d pay domestically (without having to sacrifice quality). You can operate from California and hire someone in India to get the job done.

Outsourcing is a great way to support your business if you have a small or solo team or if you want to keep your overall costs low. Some areas of your business that are a great fit for outsourcing include customer service, virtual assistants, scheduling, lead generation, and technology support.

3. Sell online

If your online business is in product creation, it’s important that you get up to speed on eCommerce – the process of buying and selling online.

20 to 15 years ago, when the internet just started to be global, people were skeptical to share their personal information and put their credit card number on the internet. Now, it’s a different time, a vast major part of internet user has already shop once on the internet. In fact, consumers are now shopping more online than they are in stores, which presents a huge opportunity for online business owners to cash in on the trend.

If you’re a product-based business, you’ll want to build an online store to sell your goods. Shopify, a popular eCommerce platform, is a great option – they make it easy to set up an online store, collect payment information, and ship your products. And the best part? Setting up a Shopify store requires minimal coding skills, which will save you time and money on backend development.

If you do decide to create a custom coded eCommerce shop, just make sure you place a heavy emphasis on security; a data breach could be catastrophic and lose you a large percentage of your customer base.

“Focus on having the maximum impact in every client interaction.”

4. Use technology to connect

Using the internet to grow and run your business doesn’t me you and your team must stay alone. Humans need contact. So how stay connected with all your team when you work with your laptop and your smartphone?

Use tools like Zoom to hold regular team meetings so everyone gets a chance to interact face-to-face. Schedule training over Skype so you can see who you’re working with and use their screen-sharing feature to share your slides or training materials. Use Slack to manage your workflow and make sure everyone on your team is communicating on a regular basis. Use Telegram or WhatsApp to send an important update. And, if like me, you are in a network marketing team, use Facebook or LinkedIn group to let your teammates ask a question and get a fast answer.

There’s a lot that goes into running an online business, but when you know how to build the right team of employees, you will know how to manage that team in a way that creates a communicative and vibrant online work environment. Running an online business is one of the fastest and most efficient ways to build a wildly successful empire.

Are you interested in running an online business? If so, let us know some of your concerns and how we can help you!