How to Start an Online Business: The Ultimate Guide (2021)

Chapter 1: Choose a Business Idea

Finding an idea for your online business is easier than it might seem.

When thinking of a business idea, we tend to think about creating the next multi-billion dollar tech startup like Facebook or Google.

But let's take a different approach. Think of every successful business you know. They all have one trait in common:

They solve a problem by providing their solution.

Let that sink in.

Find Your Talents/Skills

To start a business, you need to be dedicated to what you do.

You'll spend countless hours growing your brand so you need to choose something you are truly passionate about.

Write down all of your best skills. Think of problems you can solve with them.

For example, if you are a great graphic designer, you can sell images, logos, and templates online.

Choose an Industry

Now that you've brainstormed your best skills, you need to choose an industry.

Some common industries are:

• Health
• Fitness
• Technology
• Pets
• Self-Improvement
• Finance
• Business
• Gaming
• Travel
• Entertainment

In the next chapter, we will dive deeper into finding a profitable niche.

But for now, figure out which industry aligns with your knowledge and skills.

Look For Problems to Solve

Businesses are made to solve problems by providing their solution. See if your skills can solve a problem.

At Gamesics, we know some new entrepreneurs want to start an online business but don't know how to. So our solution is to create resources that help them create, grow, and monetize their brand.

Let's look at some more businesses.

• Amazon made shopping online easier, affordable, and has fast delivery.
• Google made it easier to search for anything.
• Netflix made on-demand streaming widely available.
• Uber made on-demand transportation more accessible.

So don't just start a business, solve an actual problem.

Many people fall into the trap where they create a business that doesn't really solve anything. As a result, they end up getting low traffic and conversions.

You need to make your solution a no-brainer to your ideal audience.

Business Idea Examples

There are endless opportunities when it comes to creating an online business.

After reading Will it Fly? by Pat Flynn, you will learn how to test your next business ideas so you don't waste your time and money.

Figure out which business ideas align with your:

1. Passions
2. Skills
3. Experience

Then choose the business idea with the highest monetization potential.

Many businesses fail because they treat their business like a hobby rather than a business.

Some online business ideas are:

• Blogging
• YouTuber
• Freelancing
• Podcasting
• Affiliate Marketing
• Consulting
• Web Developer
• App Developer
• E-Commerce
• Dropshipping

Fizzle talks about 50 business ideas people are making money from.

Now you need to define your goals for your business.

What problems do you plan to solve? How large will your audience be? What impact will your business have?

As we continue to the next chapter, keep your industry of choice in mind. You will use it to find a profitable niche.

If you want to be successful, start by writing down your goals and your plans to achieve them. - Zino Etakibuebu

Chapter 2: Find a Profitable Niche

Now that you have a business idea, it's time to find a profitable niche.

A niche is a part of a larger market that focuses on a certain topic.

Without a niche, you'll have a hard time building authority. Niches provide a sense of direction for your business.

Find Your Target Audience

Most new businesses make the mistake of not having a target audience.

Your target audience is a certain group of people that align with your business idea. They're the people that will find your content the most valuable.

By having a target audience, you can optimize for people that meet the criteria instead of everyone. You will improve your conversion rate dramatically.

At Gamesics, our target audience is new entrepreneurs that want to start an online business. They need actionable advice on how to create, grow, and monetize their business.

Analyze the Industry

Now it's time to study different niches and see if they're viable.

I prefer to use the free tool Ubersuggest for keyword research.

Use the industries you chose from Chapter 1 to guide your keyword searches.

These 4 search metrics show:

• Search Volume
• SEO Difficulty
• Paid Difficulty
• Cost Per Click (CPC)

Search Volume - the number of people searching for a term each month. A higher search volume means more traffic potential, but there will be more competition - which is a good thing.

SEO Difficulty - the difficulty to rank for keywords organically. SEO means Search Engine Optimization. It's how you optimize your content to rank on google organically. We will talk about it more in Chapter 4.

Paid Difficulty - the difficulty to rank ads on Google. A higher Paid Difficulty means the search term is more valuable to advertisers. This means there are more products to promote.

Cost Per Click (CPC) - the money advertisers pay for each ad click. High CPCs usually means more ad revenue for publishers.

Now we will focus on niching down. Search for a more specific term related to the keyword you chose.

You can see the search volume went down. But the CPC and paid difficulty skyrocketed.

Here are some examples of niching down:

• Health → Dieting Tips
• Finance → Investing
• Fashion → Watches
• Lifestyle → Productivity
• Business → Digital Marketing
• Coding → Web Development

Look For Potential Keywords to Target

Since you have some niche ideas, it's time to brainstorm what content you will make.

Write a list of 20 content ideas. If you cannot, broaden your niche. You need enough ideas to sustain your business for years.

Plug your ideas into your keyword research tool to get more keyword ideas.

Are There Profitable Products?

If many products are being promoted and bought in your niche, your audience is more likely to have money ready to buy your products.

A great way to check if a niche has profitable products is to check Amazon and search for items in your niche.

Advertisers prefer to target people with buying power because they are more likely to convert.

That's why businesses in the insurance, health, business, finance, etc. niches usually have much higher CPM and CPC rates than the entertainment and gaming niches.

Do You Like the Niche?

This is the most important question to ask yourself before starting your journey.

You really have to be passionate about what you do to have the motivation to work hard and smart every day to build your business.

In the next chapter, we will create your platform and turn your planning into reality.

Taking action is the most important step in transitioning from a dreamer to an achiever. - Zino Etakibuebu

Chapter 3: Create Your Platform

Now it's time to put all your research into work and take action.

In this chapter, you will create your platform and your brand's identity.

Name Your Business

Think of a memorable name that suits your business. Your ideal name should be:

• Concise
• Easy to remember
• Unique
• Related to your business

Use business name generators like Namelix to give you ideas.

Make a list of at least 5 potential business names. Say them out loud and choose the name that sounds the most fitting.

Look up the name with Google and check if it's in use. Also, check if your name is taken on different social media platforms.

Now use Start.Biz to see if the business name is already registered.

At the bottom of the page, you'll find the Domain Name Search Results tab. Make sure the .com domain is available. We will use this soon.

Have a Branding Theme

You need to have a branding theme in mind as you create your business.

What type of feeling will your audience experience as they enter your website? What type of design are you going for?

When starting out, you should create a color palette to plan your website's color theme.

Down the road, you should invest in a company logo. It doesn't have to be complex. Gamesics just uses 4 right triangles as a logo.

You can get professional freelancers to design your logo and make many other things with Fiverr.

Buy a Domain Name

Once you decide on your business name, buy a domain name for your website.

I always use Google Domains to buy domain names because they are very transparent with pricing.

Most domains are around $12/year. But look out for data protection fees that add up.

If you're using WordPress for your site, then consider buying a domain and hosting your site with Bluehost.

Start Creating Your Website

This is where you'll put all your business ideas into action.

If you want to code your entire site, I recommend hosting it with DigitalOcean. It starts at $5/month and you will get 2 months free with my link.

But you don't need to know how to code to make a website.

I even recommend using a CMS (Content Management System) like WordPress or Wix to create your site.

According to Kinsta, 38% of websites on the internet use WordPress.

You can install WordPress through Bluehost's 1-Click Install.

As you design your site, utilize your color palette. Have a simple and clean theme.

Focus on providing your solution to a problem. Think of content marketing ideas like:

• Blog posts that drive traffic from Google and social media.
• Being a social media influencer to form a community.
• Designing cool images to get backlinks and shares.
• Creating YouTube videos and linking to your content.

Focus on User Experience

The UX (User Experience) is the full experience your audience will feel while they use your solution. Your target audience will want an easy and satisfying experience.

So don't overwhelm your users with too many options or steps to take before they finally get the solution.

If you want to build a long-lasting community of superfans, you have to be authentic and transparent with your audience.

Never take shortcuts to get more traffic or conversions. There is never a replacement for smart work and experience.

However, use all the valuable information you find to improve your business in the long run.

Pat Flynn provides so much valuable information about building your community in his book, Superfans.

The goal is not to look like you have a successful business, it's to actually build a successful business.

Chapter 4: Market Your Brand

This chapter will teach you how to increase traffic to your platform, build an email list, and keep your community engaged.

Create an Email List

When I first started Gamesics, I thought building an email list was too complicated and pointless.

But later I discovered that an email list is important because:

• You own your email list.
• Promote new content (free advertising).
• Ask questions and take surveys.
• Emails can be personalized.

I use ConvertKit as my email marketing tool. It's free and easy to use. This tutorial will show you how to use ConvertKit and its features.

The most effective way to build your email list is to offer something in return for an email.

Offer something valuable like a quick checklist, guide, or assets pack and send it to the user's email.

Remember that everything you get in return depends on how much value you provide.

Optimize For SEO

Search engine optimization is how you rank your website on Google.

I recommend reading this SEO guide from Backlinko. We'll cover the 5 most effective ways to boost your rank in search engines.

• Search Intent
• Quality Content
• User Experience
• Page Speed
• Click-Through Rate (CTR)

Search Intent

Search Intent is the main purpose of an online search. Common types of search intent include informational, commercial, navigational, and transactional.

Let's say you want to choose a web hosting service for your new website.

So you look up "best web hosting services" on Google.

You just made a search with commercial intent because you are planning to buy something in the future but need more information on it.

People that search for "best web hosting services" don't want to see content about how web hosting works.

They want a list of the best web hosting services and each of their benefits and drawbacks.

So understand the reason for someone to make that search and provide the solution they need.

Quality Content

To create quality content, make sure your content provides the solution to a problem in the best way possible.

Don't create basic or useless content because it will hurt your brand's E-A-T (Expertise, Authoritativeness, and Trustworthiness).

Everyone else makes creating quality content seem so complicated.

But you just need to create the best solution to a certain problem.

People can smell if a business doesn't provide any value from a mile away. And they will avoid you at all costs.

So be authentic, and show that you know what you're talking about.

User Experience

We talked about UX in Chapter 3.

The UX is the full experience your audience will feel while they use your solution. Your target audience will want an easy and satisfying experience.

The most successful businesses like Amazon have made their custom experience incredible.

You'll have a good chance of success if you focus on:

• Customer Experience
• Selection
• Ease of Use
• Low Prices
• More Information
• Great Customer Service

Page Speed

You can test your page speed with Google PageSpeed Insights and GTmetrix.

The quickest way to improve your page speed is to compress images. They usually take up most of a page's size.

Use a Content Delivery Network (CDN) to serve your website's content across the globe quickly. We use Cloudflare.

Click-Through Rate (CTR)

Your CTR is the rate that someone clicks on your content in the search results.

The best way to improve your CTR is to optimize your title tag.

Use this free headline analyzer to improve your headline dramatically.

Engage Your Community

When new members join your community, you'll want to keep them engaged in your community.

Ask Questions

Ask them questions about what challenges they are facing. Then create the solution for them.

Personalize Your Brand

Always personalize your brand. People will feel more connected to your content when they know the face behind it.

Create Quick Wins

The most effective way to keep your community engaged is to create quick wins.

Find a page on your website that gets a lot of traffic.

Think of a valuable resource that would help your audience. It needs to align with the page's content. Some ideas are:

• PDF blog post
• Cheat Sheet
• Checklist
• Assets Pack
• Video
• Quick Start Guide
• Printable
• Case Study
• Bonus Content

Now offer it for their email. This will increase your conversion rate dramatically.

You'll get a quick win while your audience also gets a quick win.

Create a Challenge

Think of activities related to your business that will bring people together. Figure out:

• How long the challenge should be
• When you will host the challenge
• How frequent will the challenge occur

Then brainstorm a challenge idea.

Transformation challenges are very common. For example, a digital marketing business could host a 30-day challenge to see who grows their email list the most.

Chapter 5: Monetize Your Website

Now that you've made your online business, it's time to learn the different ways to monetize your business.

Display Advertising

When people think of making money from a website, the most popular option is displaying ads.

You have to get approved by an ad network. Some of the best ad networks are:

1. Mediavine
2. Google Adsense
3. Media.net
4. Infolinks
5. PropellerAds

If your website traffic is very low (under 1,000 pageviews/month), then having ads is not worth it.

The main mistake I see new businesses doing is cluttering their pages with ads hoping it will increase their revenue.

You will get rewarded based on the value you provide. If your audience trusts you, they will be more likely to trust the ads they see.

Affiliate Marketing

This is the most profitable way for a small business to make money. But only if you chose a profitable niche.

Affiliate marketing is when you find a product you like, promote it to others, and earn part of the profit for each sale you make.

For example: If you have a business in the health and fitness niche, you can make a product review on the best treadmills.

Sign up for affiliate programs like Amazon Associates and Commission Junction.

I don't support using ClickBank because most of their products are awful and would hurt your brand's reputation.

Before promoting a product, make sure:

• You have used or have experience with it.
• The product will benefit your audience.
• It will build your brand's reputation.

Throughout your content, link to the product with your custom affiliate link. Remember that you can link to many different products.

If you have a YouTube channel, you can also link to different products that you use to create your videos like:

• Camera equipment
• Computer gear
• Video editing software

Affiliate marketing is definitely the most scalable monetization method. Just make sure you promote great products that will bring value.

Digital Products

When creating digital products, you will put a lot of work upfront.

You have to create products that your audience will find valuable enough to buy.

Some digital product ideas are:

• Ebooks
• Templates
• Sound Packs
• Video Animations
• Tutorials
• Online Courses
• Image Packs
• Fonts
• Logo Designs
• Photoshop Presets
• Apps
• Games
• Plugins and Themes

Remember that your product needs to provide value to your community.

If you just sell a low-quality product and expect it to prosper, then you've made the same mistake that makes over 90% of online businesses fail within the first four months.

Memberships

Membership sites offer exclusive content for a monthly or yearly fee. Think of Amazon Prime and Netflix.

This business model is harder to pull off because once you get a member, you have to keep that member.

So you have to constantly update and improve the service to keep them.

When advertising your membership service, be very transparent on the pricing.

Don't have hidden fees or anything that could lower your brand's trust.

Consulting

Consulting is when you give expert advice in a certain field.

This method of making money is not very scalable but can generate a lot of money if done correctly.

Consultants make money by helping people overcome their challenges. To start a consulting business, master these 4 things:

1. Have a compelling value proposition
2. Target a specific niche
3. Build a proven sales funnel
4. Improve and learn from mistakes

This guide will show you how to start a consulting business.

Merchandise

Selling merch is often overlooked but it's a great way to make money online.

You can start a print-on-demand service for free with Teespring, Redbubble, or Merch By Amazon.

Creating merchandise is very profitable when you've built a large audience of superfans. Just ask YouTubers.