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Three Essentials for Starting a New Online Business

Starting a new online business

If you’ve ever wanted to start your own online business, you might be wondering what you should focus on first.

There are many things you’ll have to figure out when launching your business. However, the below three things specifically will play the biggest part in your success.

1) Business plan

Who are you going to sell to? Where are you going to sell? What products or services are you going to offer? What will be your core offering, and what will be the additional “up-sells” you have to maximize your profit per customer?

Understanding what you’re offering so you can break down your costs, how much you will sell for, and how you will market is important.

It will help you understand your market, build revenue projections etc.

2) Website

Having a well designed, beautiful website tells potential customers that you take your appearance seriously.

In 2017, a company website is basically non-negotiable. Not only is it good for winning over customers. You can also sell directly to consumers by setting up an online store with WordPress.

Just keep in mind, you’ll need to find high quality web hosting and a domain for your website which will require a small upfront investment.

3) Seed capital

In order to pay for your website development (which is much cheaper than it used to be) and some marketing expenses like branding material or testing ads, you’ll need some initial capital to get started.

Realistically though, you only need $100 to prove a concept these days. You could set up a WordPress website yourself or pay someone $50 for a very basic landing page. Then put $50 into testing ads.

Once you prove your idea, of course you’d move into improving your website by getting a real design, and putting more money into (profitable) marketing!

In Conclusion

It’s easier than ever to start an online business. All you need is some free time, an idea, and the above three things. With all of the web development and marketing tools at your disposal, you could be running and making money this weekend!

If you’re ready to pull the trigger and get started with your new online business, click here to find a web hosting package. At CanSpace, we offer a free domain on annual terms, so you just have to pay for hosting.

Click the link above to get started, and let’s make 2017 the year you launch!


How to Choose a Good Domain Name for Your Website

How to choose a good domain name for your personal or business website

Choosing a good domain name for your website starts with understanding what your goals are, and the reach you have within your community.

Let’s go over the three options you have when choosing your domain name and when you would pick them.

1. Making your domain name your business name

This is one of the most popular routes business owners take when choosing their domain name. Before doing so however, you should ask yourself the following question…

Do you have a strong brand in your niche and/or geographical location? If you do, you should feel comfortable simply buying a domain name like “yourbusiness.ca.”

For those who do not yet have great brand identity, you may want to choose from one of the next two options. (if no one knows who or where you are, they will never find you with the search engines).

Side-Note: If you’re not sure how many people are searching for you on the search engines, use the Keyword Planner tool and search for your business names’ search volume.

2. Your business name + location

Let’s say your business is a gym called Fitness World in Toronto. You would choose a domain name for your website like…

Fitnessworldtoronto.ca

This great for building brand identity while improving the chances visitors find you while making searches for local businesses on Google.

3. Location + your business or product niche

Imagine FitnessWorld prides itself on having the cheapest gym membership cost around. They might choose a domain name like…

Cheapgymtoronto.ca or affordablegymtoronto.ca

Or let’s take a cellphone repair shop. What would be a good domain name here?

Cellrepairstoronto.ca

In Conclusion

The best way to choose a good domain name for your website is to figure out how many people recognize your business and are searching for it.

If you’re a new or lightly marketed business (with low brand recognition) you may want to choose a location or keyword based domain name to help generate more visitors from the search engines.

You can of course choose to do a combination of the above.

So, are you ready to get choose a domain name? Click here to get started, and take advantage of Canada’s cheapest domain price guaranteed.