Thank you for 1,303 of my supporters. I have been busy building my business and working my full time 9 to 5. So I thank you for your ongoing support. As I said, you all feel like a family now.
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Let’s talk about being a business owner and online businesses today. Brick and Mortar days have passed. Businesses in 2021 are about graphic designers, web development,affiliate marketing and content marketing. Not to say that if you started a cleaning service or a food truck it wouldn’t work. However, it’s all about your branding, target audience, and customer base.
As you know from this blog, MEDITATION AND MANIFESTATION FOR 2021, I am on my journey to elevating my life in one way or the other by the end of the year. That means, I want to see a change in my life in terms of personal growth, career growth, and financial growth. Many of you sent feedback and shared your own opinion about not to have a resolution in the beginning of the year as it is just another year which will fade away but, I was determined to stay true to what I wrote in MEDITATION AND MANIFESTATION FOR 2021 blog. I have been working on my goals daily and mentoring myself by listening to various podcast.
I decided to share a high-level version of my research and guide to how you can start an online store through any ecommerce platform such as Shopify. I want to share this because, maybe I needed a simple step by step guide to motivate me when I was first starting out. Nowadays we have a good problem, too much information. This can get a person overwhelmed to the point they just give up on starting their project.
You can start here with me!
If you have always wanted to start a small business then take these steps as a guide to begin,
Go to Ownr.co and register your businesses. Don’t get stuck on the idea of picking a good name! Just pick a name and brand it later.
Second step, find a product or service that you will be selling. Many people want to open a business but, they do not know where their passion lies. It happened to me too. Trust me when I say, I can relate if not all of you.
Some of you on the other hand, have such big dreams that you cannot narrow your ideas down. I have been always keen towards trends and consumer behavior and hence, I follow a lot of new businesses to gage what will work as product and as business solutions. If you are lost deciding on a product or service, I would suggest spending a bit of time on Pinterest and TikTok to see what ideas speak to you the most.
People research and give up. It’s hard for them to carry forward with overwhelming load of information. That the reason why I want you to add these steps down as smaller chunks of goals. Complete your goals one step at time. A slow start is still a start.
Let’s say you are still lost about what to sell and are going through information paralysis. Then I would put the product or service on the side. Yes, stop on finding what to sell and just concentrate on starting the business.
Finding a product or a service I love was my main challenge. I really wanted to start my own businesses but, I didn’t know what I wanted to sell or provide as a service. The number one thing that helped me at that point was budgeting. I created a spreadsheet listing my earnings vs. my expenses. It gave me a clear picture of what I would have left by the end of the month.
Why did this help? This helps you to see what you can afford for your business. How much you can spend on inventory is a great way to pick up on cheap products but, that’s not the only cost. You would have to think in terms of over all profit and conduct a cost analysis. Let’s assume, you buy 5 items from a supplier for $2 dollars and the shipping is $70 in total. You sell the same items for $25 dollars and add the shipping cost on top of that. You will have to subtract $80 dollars (which the cost of making the product) from $125 you made selling the product plus, the Shopify cost, shipping cost, tax, advertisement, etc. Do this math before starting any small business.
I am on this journey with you! Let me know how far you reach on your small business goals. Feel free to connect with me for all your marketing and business solutions.