I'm often asked about how I started as an entrepreneur, and I normally say it's easy. I say this to be encouraging -- the idea of starting an online business scares a lot of cash-strapped entrepreneurs, who tend to believe you need to be loaded to start out.
I disagree. It can be more difficult if you don't have a fortune to invest with, but you can still build a successful business by using proven processes and routines. Here are four essentials of starting an online startup from scratch today:
1. Find one problem and solve it more thoroughly than anyone else.
What will my company be known for? That's where I normally begin. I don't want to start like others; I want to start with specificity.
When people ask me how to do this, my answer is simple: Find a specific problem and know all you can about it. Become obsessed with that one problem, because there are already people solving it with their brands. That's why you need to find an angle that will help you solve the problem in a new, better way.
No matter how competitive your niche is, there are still little cracks here and there where newcomers can sprout up.
Locate those gaps.
To do that, you need to follow the news. Personally, I follow The Hustle, but Google Trends is also a good way to find new products, news and startups.
2. Start with what you currently have.
For entrepreneurs in 2017, money shouldn't be an excuse.
Even if you only have a little to start with, you can still build your investment into something more substantial.
First, brainstorm a name for the business. Then, find someone who will create a professional logo for cheap -- or, better, create something for yourself.
If your solution requires a lot of functionality, then strike a deal with a pro to design and bring the idea to live. If it just needs to look professional but doesn't need a lot of technical extras, then you can create it using a build-it-yourself platform. This will save thousands of dollars.
To further cut cost, use Retrace, not New Relic, for SaaS based applications - the lower the cost, the better.
Then, get a domain name for the site from Godaddy and host the site at Hostsailor for cheap.
Once the site is online, set up a workstation -- probably I will work from home. All you need is a good internet connection.
3. Develop and follow systematic routines.
After the site goes online, you need to develop business habits. There are thousands of tips and habits out there, but I recommend following B. J. Fogg's Tiny Habits strategy to come up with a strategy and routine for each normal business processes.
It may be as easy as "I will write one article after I start today's work," but every tiny habit matters.
4. Don't do it alone.
Most people think they have to run the startup race alone in order to reach the top, but separating yourself limits you as an entrepreneur.
That's why you should join mastermind groups in your niche to familiarize yourself about the niche and the customers. These people can help share knowledge that will build your online brand and take your business to the next level. That way, you'll not only learn, but you'll stay motivated at all times.
Kc Agu
Kc Agu is a startup consultant, a success coach, public speaker, an investor and a freelance writer.
Read more
Relax How to Build a Startup Business From Scratch in 2017 stories
After Kristen Tomlan opened her shop Do, she was stunned by just how thoroughly unprepared she was -- it was a disaster.
You can prosper in property regardless of what business you're in.
Skyrocket your sales with these hard-won strategies from an entrepreneur who's brought in $1 billion.
These moves bring 'move fast and break things' to life.
There is a difference between an entrepreneur and small-business owner.
If all your friends ask you for the same kind of help, there is likely a market for that skill.
Finding a job isn't easy, but these simple tips can make finding a job easier.
The steps to take when everything is on the line.
Want to start a business? There's an app - or four - for that.
With the ever-increasing barrage of distractions, the percentage of people suffering from serious procrastination issues is on the rise.
Trouble luring in new business? Check out these insights from entrepreneurs about how they did it.
These presentations can teach you about the importance of time off, where you can do your best work, how to pitch to investors and more.
Forget about commencement speeches -- the Microsoft co-founder turned to Twitter to share some great advice.
Learn from the wisdom of business gurus Elon Musk, Michael Bloomberg, Li Ka-Shing and more.
Some basic strategies for getting attention and keeping it.
Whether you're a rising executive or someone just starting out, these great books can help you reach your goal.
It's not magic; it's just math.
It's not often talked about, but entrepreneurship is incredibly lonely. What are you doing to deal with this?
These relationships are more common than you might think.
Hard work can pay off -- if you know how to seize the right moments.
A small-business owner took her original plan to Shark Tank before scrapping it and buying a franchise.
Why pay hundreds of thousands to earn an MBA when $100 a year will finance your blog? (Reality check: You'll still need to put in a lot of effort.)
Putting your effort in upfront and collecting the returns forever after is the foundation of financial freedom.
Powerful, low-cost technology is readily available to make starting and growing your business if not easy, at least possible.
Maintaining the success mindset isn't easy.
You can share your lists with others, and follow the lists your friends and family share with you.
The feature leverages machine learning to remind you about things you said you'd do via email.
Advice from a young entrepreneur in the trenches
This 3D mapping car holds the key to the future of autonomous driving.
"A lucid dream is a dream during which the dreamer is aware of dreaming," says Wikipedia. Artist Alex Andreev offers that experience with his VR dreamscape pain...
The company’s Computex 2017 news ties up its ambitious plans for world domination.
Check out the most prominent rumors and speculation about WWDC ahead of Monday's keynote.
Once you have defined success for yourself your path there will become apparent.
Steam Greenlight will become Steam Direct, and Valve will charge developers $100 per game.
A new visa application form requests social media handles, but not passwords, from some applicants.
Walmart's latest move in an ongoing battle with Amazon? Employees deliver your packages.
What you don't know about artificial intelligence and machine learning could impact which accounting application you choose.
Dead batteries will become undead 15 percent faster thanks to new Qualcomm tech that monitors charging temperatures to deliver as much current as possible .
