Starting up a business from the comfort of your own home sounds too perfect to possibly be attainable. However, it is in fact perfectly possible to do so! Digital startups require relatively few overhead costs, no permits are needed, no premises need to be secured and as long as they have enough supply to meet demand they can start trading almost immediately. The thing about digital startups is that, technically, they operate in exactly the same way as any other startup. They need to keep a steady stream of business coming in, they need to find their niche and cater to it effectively, and they need to ensure excellence in everything they do to get a competitive edge over their competition. But just because it’s easier than ever to start your own business, doesn’t make every digital startup a slam dunk. If it were that easy, everyone would be running their own business from home and there’d be nobody to settle our legal matters, clean or windows or hand us drive through. Just as a delicious meal cannot be made without the right ingredients, entrepreneurs cannot expect success from their online businesses if they don’t have the key ingredients for excellence...
A Website That Wows
It’s all about the website when it comes to digital businesses, for obvious reasons. If your business exists solely in the digital realm, your website is your brand! Your website serves a number of functions in digital business, and for it to succeed it needs to be firing on all cylinders in fulfilling all of them.
For a start, it needs to be the face of your brand and it needs to be a face that’s both beautiful and memorable. It needs to be the Scarlett Johansson of websites! It needs to not only be easy in the eye but easy to navigate.
It needs to take steps to minimize bounce rates and keep users on the page, or at the very least keep them kicking around in your own little corner of cyberspace. There are many “in the box” solutions for setting up your own website. Wordpress is intuitive and fairly easy to customize and it works with a wealth of plugins for ecommerce and SEO. But while these are functional, they’re no substitute for hiring a drupal developer. A developer will be able to help build the perfect Content Management System to suit (and grow with) your needs. It can be built to create a completely unique look that defines your brand which can be hard to achieve using the kinds of customizable templates offered by the likes of WordPress. It can create a User Experience (UX) flow that is intuitive yet uncommon, making buying from you enjoyable and easy.
Your website also needs to serve as the mouthpiece for your business, which is why it needs to be updated regularly with a stream of quality content. If you don’t have time to compose your own blog posts, articles or videos this may be an area well worth outsourcing. Not only does it build your brand and cement your sense of identity, it gives you a nice SEO boost, too!
Running a business from home means that you generally want to make every aspect of it as simple as possible, not least the financial side of things. When starting out, however, this is easier said than done. It’s hard to determine which costs are essential and which can be cut down or eliminated altogether. While this does come with time and experience, new entrepreneurs can benefit from trying to calculate the fiscal multiplier of their spending. A fiscal multiplier is the amount of return an entrepreneur can expect an investment to generate. Every element of your business will have a fiscal multiplier. For example, if you sell a profit at a 30% profit, your fiscal multiplier is 0.33. If you invest in a software plugin which increases your productivity by 100%, the fiscal multiplier is 1. It can be tricky to work out what the fiscal multiplier is for every investment or purchase you make as some take longer to pay for themselves than others. Nonetheless, it’s a good starting point when it comes to addressing the economics of your enterprise.
Know Your Unique Selling Point
As with any business, you need to have some kind of a unique selling point which will ensure that you continue to stand out amidst a sea of competitors. If you find this hard to achieve, you might want to step back and look at the business as a whole. Ask yourself what you can offer that nobody else can or how your mission statement differs from that of your competitors.
Many businesses lose their way by losing track of what makes them unique.
sasha talks tech, Sasha Horne, Silicon Beach, LA Tech, Tech LA, LA Tech Scene, Los Angeles Life, Los Angeles socialite, ABC Whodunnit, Melina Alves, Brazil, Kam Perez, Cris Cross, Dana Davis Blake, Geno Smith, Don Tayback, Dontae Mosbey, Sherri Marsh, Reality TV Star, TV Host, Los Angeles TV Host, Reporter LA, Sasha Beaufort SC, Beaufort High School Notable Alumni, College of Charleston Notable Alumni, Georgetown University Notable Alumni, Team Southern Belles, Air Force Veteran, Black Girls Tech, Black Nerds, Blerds, Black girls rock, Black girls code, Social media superstar, black tech blogger, black tech la, Black Hollywood, Tech in Motion, Tech in Motion LA, CNN Master's Fellow, CNN Graduate Fellowship, Reality TV where are they now,