5 essential things to get started with an online business that makes money

 In 2021, starting a business is one the most rewarding things anyone can do.

There are many reasons people don't have businesses. There are many reasons why people don't start businesses. No matter what the reason, starting a business is a good option if you have more cash or liquidity.

Online business offers you many advantages over an offline one. Is this a difficult thing to do? No. These are the 5 essential things to do before you jump off the startup cliff.

1. A solid idea or business plan

An idea is the best place to begin. A solution to a problem is an idea. Your idea must solve a problem that is difficult for only a few people, which can lead to high prices. However, it could also solve a problem that is small for many people. This is where scale comes in.

2. A business plan

Many people believe that business plans are obsolete. It isn't, as an Angel investor, business owner, and expert in online business, I can assure you that it is. With years of experience in the business world, you will know that projections in business plans can be inaccurate. However, it provides a starting point and allows you to make adjustments and changes as needed.

3. Get a clear picture of your ideal customer

Customers are the most important thing for any business. Customers are people who want the same value as your business and who will pay for it. You need to understand that your potential customer base can be expanded significantly. However, when you plan to target a specific audience, it is important to keep the target to a "Bulls Eye". People who cannot live without the services you offer or prefer not to. It is also important to ensure that enough people are within reach of your business to make it sustainable.

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4. Partner that encourages growth

Everybody needs some help from time-to-time. Smartness about your partners is a key trait of successful businesspeople around the globe. SocialPay is a partner for businesses in Nigeria. SocialPay is for startups who want to establish a professional image around their brand. SocialPay allows businesses to send invoices that are professional and receive payments online via payment links.

SocialPay offers cash advance payments for those who use their platform for at least 3 months. SocialPay will give you up to 30% of the collections that are over 3 months, and 50% for collections that are over 6 months. You can choose how much you want to repay. You can pay the cash advance back with 10% to 30% of your daily collection. A loan of up to N 1,000,000 will be available to the first 10,000 merchants. It is interest-free for a month.

5. A website or profile on social media

Online presence is essential for any business. To have an online company, you will need a website and a social media account. You can quickly build a website using platforms such as Wix and Squarespace, WordPress, Weebly or GoDaddy.