Starting an online business - it's easier than you may think

It seems like hardly a week goes by without picking up a newspaper and reading about another successful online business.  Think Organic Bubs, a range of organic baby food that is now sold worldwide, Shoes of Prey, an online store that sells the perfect shoe by giving consumers complete control over the shape, colour and height of their shoes, and KeepCup, a business that has sold more than 3 million reusable coffee cups online, reducing the landfill disaster that is represented by billions of disposable cups.

What do Organic Bubs, Shoes of Prey and KeepCup all have in common? They started a new business with an idea that was born from necessity or frustration. Ordinary people just like you and me who found something they were passionate about and turned it into something that the world wants.

Starting a new business doesn’t mean you have to be a retailer – there are plenty of service-based online businesses who have successfully turned their knowledge into cash. From HR advice to social media consulting and blogging, if you’ve got some skills, you can open your virtual doors and start attracting customers pretty quickly.

No matter what your idea, it’s not that difficult to get yourself online, so once you know what it is you want to do, here’s what you need to do to get started:

1. Decide on your business name. This is going to be your brand, so don’t take it lightly. You’ll also need to check that the business name you choose is available, by searching ASIC’s business names register. 

2. Register your business. You’ll need to apply for an ABN first, and then create an ASIC Connect account to complete your registration. 

3. Get yourself a logo. It might seem like a small thing, but your logo is a big part of your brand, so make sure it looks great and reinforces your brand. There are plenty of online sites like Freelogoservices and Canva where you can design your own logo using stock images and designs, or talk to your local graphic designer. 

4. Get yourself a website.  This is not as difficult or expensive as you might think. If you’re a little computer-savvy (and you have the time), you can knock out a pretty impressive looking website yourself in a day or two using templates from DIY web stores like Squarespace or Wix.  Fees vary, but expect to pay around $200 - $300 a year for a standard site, and around $400 for an ecommerce site that let’s you sell unlimited products.  You’ll also need a domain name, which you can arrange through both Wix and Squarespace. 

5. Get out there.  OK, you’ve got your website and you’re ready to go, so it’s time to get out there. But - there are more than a billion websites out in the web universe, and if you’re not coming up on the first (or maybe second) page of Google when someone is searching for a business like yours, then you’re not going to do much business.  For some really great tips, check out How to rank your brand new website on Google: 23 easy tactics to know and 4 things you can do today to boost your website’s Google ranking.  It’s also worth checking out Google Adwords – even spending as little as $5 or $10 a day can get you some great leads if you’re smart about it.

While setting up your own online presence may seem a little daunting, it’s actually not that difficult. But if you’re not that comfortable with creating your own website and taking the time to improve your search rankings, there are plenty of online businesses who would love to help you.  

If you're already working and looking for extra funds to start up a new business, why not check out our flexible business loans that are simple, easy and quick. Once your loan application has been approved, we  can get a payment into your bank account, usually within 24 hours, so you can take those first steps to building your successful online business.