Online businesses are booming with more and more people launching one each year. The reasons why are simple: technology has advanced, making it easier than ever to start up your online store. With modern-day methods, you can have a new site set up in a few clicks of a button. Having your own online business gives you freedom and an unlimited income potential. Plus, it’s a fun journey, even if it can be stressful at times. When starting up, there are various considerations which you should answer before launch. Do you need a website? Are you going to need an eCommerce fulfilment provider? What social media channels are you going to use? Have you written a business plan? Do you require insurance? The list goes on. To get you started, we have put together a 3-step guide below.
By Team Savant
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What Social Media Channels Are You Going To Use?
You can’t have a successful online business, let alone any business, without having a social media presence. Social media is so important and can help you grow into a large business when done right. The question is, what channels should you sign up for? The answer is, it depends on the type of content you are going to put out. Different channels suit different types of content better. For example, TikTok is all about video content, whereas X is about sharing your opinion.
What Insurance Will You Need?
It goes without saying that there will be a couple of insurance products that you should have. What you go for very much depends on the type of business you run, but a few we think you may need include public liability insurance, business insurance, cyber insurance (this can be part of your cyber strategy) and more. When getting a quote, make sure you reach out to a few providers to ensure you get the best price possible - prices can vary a lot!
Writing a Business Plan
Something that every business should have and should have done before launching is to have a business plan written out. A business plan is so important to your success as it makes you think about your business in different ways and answer questions which you may not have thought of before. A business plan is often needed when going to get a business loan, so if you ever plan to get one, then you will need to have a solid plan put together. There are many sites online that have business plan templates that you can use if you have never written one before and need some inspiration or a place to start.
What considerations would you suggest to someone starting an online business in 2025? Which of the above tips did you find most useful? Is there anything missing in our guide that you think we should be adding? Let us know in the comment box below, we look forward to hearing from you.