5 Key Steps to Starting a Home-Based Online Business

Waiting for the right time to start an online business from home? Now would be a perfect time, with everyone at home, logged onto their social media accounts every single day. 

Aspiring entrepreneurs have a lot of possibilities thanks to the Internet's influence. Here are the most critical steps to building a competitive and profitable online company.

1. Choose a profitable product or service

Any type of business begins with one thing: an idea, a hobby, or an interest that became a business opportunity. The first phase in starting a business is deciding whether to sell by doing analysis and determining the benefits and drawbacks of the product or service. Check to see if the good or service still has a following, demonstrating its commercial appeal. A vital reminder: don't get caught up with passing patterns, fads, or bandwagons.

2. Build the core strengths of an online business

A website, a mailing list, and a good social media presence are non-negotiables for an online business. A clean and clear website should show the company's reputation for everyone to see. A mailing list, on the other hand, is useful for marketing purposes. Finally, a good social media presence is essential to expand the brand's scope and turn fans into consumers. Identify the top channels that your target demographic uses and make it a priority to create a strong following on those platforms.

3. Keep the audience engaged

A strong social media presence is the result of a great following and engaging content. Keep in mind that an aesthetically-pleasing Instagram feed can have a lot of followers and likes, but the goal is to keep the followers coming, retain them, keep them entertained, and most importantly, entice and convert them to becoming customers. Focus on posting engaging content about the business that they will not only like, but also share and comment on.

4. Establish a wide network

A vast network is crucial when it comes to starting a business. Start building a relationship with entrepreneurs, suppliers, and even couriers by joining groups, events, expos, and online caravans to know the in’s and out’s of the digital landscape. In these trying times, collaboration, not competition, is key to the survival of a business.

5. Get the right connection

The right connection matters -- literally, in the case of online businesses. What good is an online business without a reliable and stable Internet connection? This is where PLDT Home Biz comes in. Get a strong Internet connection with an affordable PLDT Home Biz Plan, plus access to a wider network through readily available eCommerce solutions that come with each subscription and virtual trade expos that PLDT Home Biz provides in partnership with the Department of Trade and Industry (DTI).

With many people starting their businesses online, the need to stand out and get the attention and loyalty of an audience seems difficult, to say the least. But with the right tools and a solid foundation, any startup online business has the potential, not only to survive but more so, to thrive.

With PLDT Home Biz, anyone has the power to create a successful home-based online business. Find out more at www.pldthome.com/biz.

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