If you want to be an entrepreneur but don't necessarily have the funds to rent a storefront and pay employees to man your store, there is a good chance that you are going to consider starting an online store. Although online stores tend to have lower overhead, they come with their own challenges as well. Here are some tips that you should follow for starting your online business in order to increase the chances that it will be successful.
1. Focus on Trends, Not Traffic
When you launch your online business, you might be tempted to follow the traffic analytics of your site religiously. You might be constantly checking the number of hits that you get per hour, desperately hoping that they will go up. You might spend nights trying to figure out something crazy that you could do to increase traffic to your site. Do your best to forget all of that. Traffic on its own, especially looked at on a day-to-day basis is virtually meaningless. If you start giving away your product for free, you will get a lot of traffic to your site but it will disappear once your promotion ends.
What you should be looking at and trying to improve are long-term trends. Check to see if your get more traffic on average from one month to another. If you're not, think of ways that you could increase word-of-mouth appeal. Get bloggers to use and talk about your product. Sponsor an event to get your name on the volunteer t-shirts. You want to play the long game with trends because they will leave you more successful in the long run.
2. Get People Excited About Your Product Before You Launch It
You want to make sure that the first day that a product hits is huge because an amazing first day will generate positive news and blog articles about your product and how popular it is. You can't make your product popular from day one unless people are excited about it beforehand. Build suspense about your product by posting cryptic ads about it, going on Reddit and hosting an Ask Me Anything talk about it, having members of the blogging community try your product and talk about it ahead of time, and simply pushing your advertising forwards.
For more information, talk to a company that specializes in new online business opportunities. They will be able to help you find investors for your project.