The 11 Step Guide to Starting an Online Biz for Solos and Boomers
Introduction
1. Why Do I Need to Start An Online Business in the First Place?
2. What Online Business Model is Best for Me?
3. How Do I Create a Minimum Viable Product?
4. What Should I Include on My Website?
5. How Do I Market My Online Business?
6: What's the Best Way to Market My Online Business?
7: How Do I Handle the Legalities and Accounting?
8: How Can I Improve and Expand My Online Business Over Time?
9: Why Should I Outsource and Automate Tasks?
10: What Habits Help You Succeed Working From Home? 10)
11: Why is Consistency So Important for Online Business Success?
Let's Sum it up!
A simple, conversational 11 step guide to an online business tailored for baby boomer and solopreneurs just starting out.
Introduction:
Hey there ProductKingCarib6 here! If you're a baby boomer or solopreneur looking to start your own online business, you've come to the right place. I know that getting started with your own online biz can seem daunting. But it doesn't have to be!
In this post, I'll walk you through the 11 key steps you need to take to get your online business up and running. I'll share this in a simple, conversational way so you can easily follow along.
My goal is to make starting your online business as straightforward as possible.
I've helped many of baby boomers and solopreneurs just like you successfully launch their own profitable online ventures. So you can trust that this guide reflects the best practices that actually work.
Let's get started!
Here are the 11 steps to take to setup your own online business:
Step 1: Choose a Profitable Niche
The very first thing you need to do is identify a profitable, in-demand niche for your business. This will be the specific market you sell to.
To find a good niche, brainstorm topics and problems related to your interests, skills, and experience. Look for growing niche markets with a need that you can uniquely fill.
For instance, as a boomer you may choose a niche like assisting other boomers with getting tech-savvy. Or if you have accounting experience, you could specialize in providing bookkeeping services for online entrepreneurs.
Make sure to validate your niche by using Google's keyword planner to size up the demand. Aim for niches with at least 1,000+ monthly searches but low competition. This ensures there is demand without too much saturation.
Once you've selected your niche, create a one-sentence description of who you serve and their top problem you'll solve. This will drive your business mission.
So, How did I selected my niche? I choose my passion and career for over 30 plus professional years and expanded it online which to sum it up is Technology & Software. I added a little touch explaining starting with the right mindset and self-awareness builds energy for positive growth.
Step 2: Choose Your Online Business Model
The next step is deciding your online business model. This determines how you'll generate income.
Some of the most popular online business models for boomers and solopreneurs include:
Consulting: Offering specialized expertise and coaching. This can include advising clients 1-on-1 or in group coaching programs.
Information Products: Creating digital info products like online courses, ebooks, video training, etc. that you sell 24/7.
Services: Providing done-for-you services like bookkeeping, web design, social media management, and more.
Affiliate Marketing: Earning commissions promoting other company's products.
Shopify Store: Selling physical products by dropshipping inventory or handmaking crafts.
YouTube Channel: Building an audience and earning ad revenue from your videos.
Assess your skills, resources, and interests to select 1-2 models that align with your strengths. For beginners, services and affiliate marketing are often the easiest online businesses to start.
Whatever you choose, your business model must solve your niche's problems in an in-demand way. This creates a winning combo!
Step 3: Develop Your MVP
Once your niche and business model are set, it's time to develop your minimum viable product (MVP). This is the core offer you'll lead with.
Your MVP should be the first super simple, low-cost iteration of your product or service. The purpose is to validate your idea's viability without over-investing upfront.
For a service business, your MVP could be offering a limited version of your done-for-you service to your first few clients. For an info product business, create a low-cost but high-value lead magnet like a checklist or guide.
When crafting your MVP, focus on solving one pressing problem or need for your niche. Offer an irresistible solution that you can deliver quickly and cost-effectively.
Make sure to get your MVP into the hands of real customers ASAP. Gather their feedback so you can improve your offering. Adapting to meet the market's needs will ensure you create a product people want.
Starting lean with an MVP minimizes risk so you can test and tweak before investing more in your online business. It helps you build something customers genuinely want.
Step 4: Set Up Your Website
Now it's go time - you're ready to start setting up your actual online business!
One of the first things you need is a professional website to establish your brand and attract customers.
Your domain name should include your primary keyword for SEO. Choose an easy-to-remember, catchy dot com address.
I recommend using WordPress along with a beginner-friendly page builder like Elementor to create your site without coding. Most hosts like Bluehost offer 1-click WordPress installation.
Keep your site design simple, clean, and mobile-friendly. Make sure visitors immediately understand your business purpose and offerings through clear messaging.
Include polished pages for your homepage, about, services/products, blog, and contact at minimum. You can add more pages later.
Populate your site with useful content like blog posts and guides. This builds authority and improves SEO. Just stay laser-focused on your niche.
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Finally, include clear calls-to-action across your site directing visitors to your MVP. This kickstarts converting traffic into customers.
Launching a professional website provides the digital homebase for your online business. So take the time to create one that captures your brand essence and attracts your ideal audience.
Step 5: Set Up Your Sales System
Now that you have a website, it's time to establish your sales infrastructure to start making money online.
First, you need a way to accept payments. For small ecommerce sites, PayPal or Stripe are easy options to quickly accept credit cards on your site.
Next, setup your order management and delivery systems. For digital info products, systems like SendOwl or SendFox allow you to instantly fulfill downloads. For physical/service sales, streamline your order fulfillment process.
Make sure to have an email list in place, like through ConvertKit or Mailchimp. This allows you to market to customers and automate email sequences like order confirmations.
To appear more established, utilize systems that offer instant credibility like providing customer service through HelpScout and taking bookings/appointments through Calendly.
Testing small initial sales with friends/family is a good idea to work out any kinks in your sales process and tech stack before officially launching.
Having these sales systems in place means your online business can efficiently handle orders, payments, fulfillment, and marketing 24/7. So you can focus on product creation and serving customers.
Step 6: Master Your Marketing Strategy
Driving traffic and sales is crucial for online business success. That makes honing your marketing strategy a top priority.
Start by creating lead magnets to attract your niche like free courses, guides, or tools. Offer these in exchange for your visitors' emails.
Leverage social media by identifying 1-2 ideal platforms like Facebook Groups or LinkedIn for your niche. Provide value and build community through thoughtful content and engagement.
Email marketing is also key. Send targeted broadcasts touting your newest offerings, promotions, and business updates. Make sure all emails provide readers value.
To build authority and traffic over time, consistently create search-optimized blog posts, videos, and podcasts that rank well with SEO.
Paid ads through Google, Facebook, Instagram, etc. allow you to find highly targeted customers.
Allocate a small budget to test various ad types and fine-tune profitable campaigns.
Guest posting on authority sites related to your niche helps expand your reach and credibility. Pitch relevant blogs and be generous providing value through your guest posts.
Referral programs, social sharing incentives, and partnerships further boost word-of-mouth marketing. Satisfied customers can become your best brand advocates!
With a thoughtful marketing strategy combining several of these tactics, you'll attract a steady stream of quality leads and customers.
Step 7: Handle Legalities and Accounting
While not the most glamorous tasks, handling the legal and accounting aspects of your online business is crucial.
First, make sure to register your business name and establish a proper business structure. Options like LLCs and S corps limit liability and allow tax flexibility. Use a service like Incfile or LegalZoom to smooth the process.
Next, obtain the necessary licenses and permits required in your state/city for your type of business. Stay compliant to avoid any issues.
Look into tax requirements to see if you need to collect sales tax on products or services. You'll also need to manage quarterly estimated income tax payments, payroll taxes, and annual tax filings. Software like QuickBooks helps automate these processes.
For accounting, use separate business and personal bank accounts/credit cards to improve tracking. Bookkeeping software also lets you categorize income and expenses, generate financial reports, and send client invoices.
Make sure you understand your tax deductions - you can write off many valid online business expenses like web hosting, advertising, software, home office costs, and more.
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While handling the legal and financial aspects of your business takes some time upfront, doing so protects you down the road. Don't let the details derail your progress!
Step 8: Improve and Expand
Over time, successful online businesses continually improve and thoughtfully expand their offerings.
Spend time every month reviewing your website traffic, lead magnet opt-ins, sales, email metrics, reviews, refunds, and other analytics. Identify what's working as well as areas needing improvement.
Use feedback from customers and contacts to objectively assess your brand messaging, product/service quality, and overall business operations.
Based on this data and feedback, rework any aspects of your online business that aren't delivering results. Experiment with new approaches, outreach channels, and marketing tactics.
Expanding your offerings is also key to sustain growth. For example, an online course creator could add higher-priced 1-on-1 coaching or a private mastermind community.
A bookkeeping services provider can widen their offerings to include tax preparation. An ecommerce site owner can branch into their own info products like video courses.
The goal is to continuously get better while expanding the value you provide. This evolves your business and keeps customers engaged long-term.
Step 9: Outsource and Automate
Trying to tackle every aspect of your online business on your own is not sustainable. The solution? Outsourcing tasks and automating processes.
Skilled freelancers can help manage time-intensive tasks like web design, content creation, graphic design, bookkeeping, marketing, and more that aren't the best use of your time. Sites like Fiverr and Upwork provide access to affordable talent.
Virtual assistants can also handle admin tasks like appointment booking, data entry, customer communication, and research to lighten your workload.
Software and apps that integrate with your website and sales systems enable you to automate repetitive tasks too. This includes email marketing, order fulfillment, analytics, chatbots, royalty payments, and so much more.
For example, you can use Zapier to instantly send data between programs and take actions like auto-adding sales to accounting software. Calendly lets visitors easily book appointments with you 24/7.
Outsourcing and automating ensures your online business can run efficiently in the background. This frees you up to focus on your strengths: creating new offerings and nurturing your customers.
Step 10: Develop Healthy Routines and Habits
Running an online business from home offers great flexibility. But having the self-discipline to work productively does take effort. That's why nurturing healthy routines and habits is so important.
Carve out a dedicated home office space, even if just a corner. This psychological separation between work and home life helps maximize productivity.
Each morning, write down your top 3 priority tasks to maintain focus rather than getting caught up replying to emails and messages.
Set regular office hours and stick to them. But also schedule regular breaks to recharge.
Creating set work blocks prevents burnout.
Minimize distractions like social media and news websites which can suck away hours of time. Use site blockers to limit access during work hours.
Establish end-of-workday habits like shutting down your computer and creating a to-do list for tomorrow. This provides closure and lets you mentally recharge.
Eating healthily, exercising, getting outdoors, pursuing hobbies, and connecting with others are all crucial too for ensuring you have the energy and motivation to sustain running your online business.
Also remember to celebrate small business wins - reaching a new sales milestone, getting a great customer review, or completing a new product. This fosters a sense of fulfillment.
Putting thought into developing habits and routines that support your efficiency, health, and mindset makes all the difference in effectively working for yourself long-term.
Step 11: Stay Consistent with the Compounding Effect
Last but definitely not least - staying consistent with your online business is critical, especially as a beginner. Consistency compounds to create momentum.
Understand that overnight success is extremely rare in business. Be patient with the process and focus on small wins.
Building authority, traffic, leads, and revenue takes time and sustained effort. But incremental progress consistently made does add up.
For instance, getting just 1-2 new email subscribers each day will grow your list substantially over months. Consistently publishing helpful content over time can move you up in search rankings as Google comes to trust you as an authority.
Small amounts of traffic from various sources like social media, organic search, and paid ads will compound to grow overall visibility.
A few sales a week steadily starts adding up to real money.
The key is perseverance - making sure you take those small, consistent actions that spur this compounding effect week after week.
Remind yourself that every piece of content created, every positive customer interaction, and every process streamlined builds towards your ultimate business goals.
Trust this progress over perfection approach. Stay patient and persistent even during plateaus or slow periods. Your consistency will pay off!
So there you have it - the 11 key steps to setting up your own successful online business as a baby boomer or solopreneur! I know you can do this. Build your email list today free!
What is the easiest online business to start?
Here are a few perspectives on the easiest online business to start:
Affiliate Marketing - Promoting other companies' products and getting a commission for each sale. Very low barrier to entry and you don't have to create your own products.
Blogging - Creating written content about topics you're knowledgeable and passionate about. Low startup costs and flexible time commitment. Monetize through ads, affiliate links, digital products.
Selling Stock Photos - Building a library of photos and graphics that sites like Shutterstock then pay you to license. Just need a camera, creativity, and good keywords.
Consulting/Freelancing - Offering your expertise as a consultant in your field. Easy to get started via platforms like LinkedIn, Fiverr, Upwork. Leverage skills you already have.
Dropshipping - Selling products shipped directly from the manufacturer. Requires just setting up a simple ecommerce storefront. Low overhead and inventory costs.
YouTube Channel - Creating videos in a niche you enjoy and monetizing through ads, sponsorships, etc. User-friendly startup and unlimited topic potential.
The "easiest" biz depends on your unique interests, skills, and resources. But many online businesses can be launched fairly simply, affordably, and on your own time.
The key is picking a model that fits your strengths and goals. With some hustle and consistency, you can absolutely succeed!
What is the cheapest most profitable business to start?
Here are some perspectives on cheap, profitable online businesses to start:
Affiliate Marketing - Can get started for less than $100. Profit potential from commissions on other companies' products. Low overhead.
Freelancing - Leverage skills you already have. Cost is just a computer and time. Charge hourly or per project. Income scales up quickly.
Blogging - Startup costs around $100 annually. Adsense, affiliates, products, and sponsorships offer multiple income streams.
Selling Online Courses - Low platform fees, maximize profit margins. Recurring passive income potential. Build authority and scale over time.
Dropshipping - Under $500 to start. Keep profit margins high since no inventory costs. Can scale and automate quickly.
Flipping/Reselling - Negligible startup costs. Source inventory cheaply, resell higher. Minimal oversight once running.
Lead Gen/Niche Sites - Low initial investment, monetize through ads, affiliate offers. Lots of automation potential.
The "cheapest" depends on your goals and willingness to bootstrap and grind early on. But all these options can be started affordably and scaled up to be highly profitable if you put in the work.
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No business succeeds without effort, but the online world offers many money-making models accessible on a budget. Do your research to match the best low-cost option to your skills and interests!
How can a beginner make money?
Here are some great ways for a total beginner to start making money online:
Freelancing - Offer skills like programming, writing, design, virtual assistance on sites like Fiverr and Upwork. Leverage what you already know.
Affiliate Marketing - Earn commissions promoting other companies' products you use and like anyway. Very simple startup.
Online Surveys - Small amounts but easy passive income. Sign up on sites like SurveyJunkie, Swagbucks, InboxDollars.
Sell Used Items - Declutter for cash. List unused electronics, apparel, furniture, books on OfferUp, Facebook Marketplace, Craigslist.
Participate in Research Studies - Get paid for your opinions. Look for opportunities on sites like Respondent and Prolific. Flexible and interesting.
Microjobs - Simple online tasks like data entry, transcription, web research. Do small gigs on Amazon MTurk, Clickworker, TaskRabbit.
Sign Up Bonuses - Get free money just for signing up for apps and services like banking, insurance, investment platforms. Look for referral bonuses too.
Online Tutoring - Help students with what you know best. Companies like Chegg, Varsity Tutors connect you to learners.
The key for beginners is to start small, leverage existing skills, and be consistent. Turn free time into side income with these accessible ways to make money from home and build up your experience.
Key researched stats to give you a guideline of the target audience
Starting an online business allows baby boomers and solopreneurs to be their own boss and have flexible work arrangements. Studies show:
72% of baby boomers are planning to work past retirement age. An online business allows them to transition smoothly.
53% of American workers are now freelancing. Online businesses let solopreneurs control their work.
The low startup costs and ability to leverage technology makes starting an online business very accessible. Consider:
Startup costs for an online business can be under $500 compared to $10,000+ for physical businesses.
Basic website builders and ecommerce platforms empower anyone to get started quickly.
Running an online business unlocks new income streams and opportunities. For example:
U.S. ecommerce sales hit over $870 billion in 2021, growing steadily each year.
The global information products industry is worth over $200 billion.
An online business can be started and run from anywhere with an internet connection. For instance:
42% of U.S. baby boomers are interested in retiree-friendly locations. An online business allows living anywhere.
Solopreneurs appreciate the ability to work remotely and run their online business from home or while traveling.
Starting an online business later in life is more feasible than ever before thanks to resources and technology designed for non-tech-savvy users. Specifically:
Website builders like Wix and Squarespace allow anyone to create a site with no coding skills needed.
Business software like QuickBooks streamlines taxes and accounting for small online businesses.
Educational platforms like Skillshare have abundant courses to learn digital skills.
Today's consumers are highly receptive to purchasing products and services online. In fact:
Ecommerce penetration is over 19% globally, and much higher in many countries like China.
63% of baby boomers already feel comfortable buying online. That number continues to rise.
With niche specialization, baby boomers and solopreneurs can leverage their unique expertise. For example:
Boomers can consult others on retirement planning, senior fitness, grandparenting, and more.
Solopreneurs can capitalize on previous career knowledge like human resources, engineering, teaching, and so on.
FAQs that could help beginners get on the right track
1. I'm a baby boomer with very little tech skills. Can I really start my own online business?
Yes! With today's user-friendly tools and resources tailored to beginners, you don't need advanced tech skills to launch an online business that leverages your knowledge and passions. There are also many online courses for learning the basics.
2. What are some examples of online businesses well-suited for baby boomers?
Some popular options include consulting, selling online courses, running a blog, service businesses like bookkeeping or social media management, and selling handmade crafts through an ecommerce store. Choose something that utilizes your unique experience and expertise.
3. As a solopreneur, how much money can I realistically make starting my own online business?
It depends on your business model and effort, but anywhere from a few hundred to several thousand dollars per month is very possible. With consistency over time, six and even seven figure online businesses are achievable. Building up gradually is key.
4. I'm not very sales-oriented. Can I still succeed with my own online business?
Absolutely! With the right help setting up your website, marketing materials, and sales systems, your online business can run almost automatically. You simply need to consistently create value for people and the sales will come.
5.What are the most affordable and beginner-friendly online business models?
Blogging, affiliate marketing, online services, and selling digital products tend to have the lowest start-up costs. You can get started for little more than a domain name and web hosting account. Making money from a YouTube channel is another very low-cost model.
6. How long does it take to start generating income from a new online business?
With persistence and consistency, it’s realistic to start seeing some income within 3-6 months. But allow at least 12 months to fully build momentum. View it as a long-term, sustainable endeavor rather than a get-rich quick scheme.
7. Can I run my online business part-time while working or retired?
Absolutely! One of the biggest appeals is that an online business can be run part-time without needing to immediately replace your full-time income. You can start small and grow it steadily over time on the side.
Conclusion: Let's Sum it up!
What I hoped you got from our article. We aimed to provide a clear plan of what goes into a true online business. Get in touch!
Starting and running your own online business as a baby boomer or solopreneur is an incredibly rewarding endeavor.
Yes, it takes dedication, perseverance, and a willingness to learn new skills. But it opens up so many possibilities!
You get to spend your time and effort on something you genuinely care about. You can impact and help others in a meaningful way by sharing your knowledge and talents. And you get to take control of your income, schedule, and lifestyle.
I hope this beginner-friendly guide has shown you that while starting an online business takes work, it is absolutely possible, even if you're not tech-savvy or have never run a business before.
Millions of boomers and solopreneurs just like you are thriving by taking the leap. With passion and consistency, you can build an online business that unlocks new life opportunities.
Trust the process, celebrate small victories, learn something new every day, and stay committed. You've got this! I wish you the very best as you start this exciting next chapter doing meaningful work you love. Build your email list today free!
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