Working from anywhere in the world and making money while you sleep is mesmerizing. That is exactly what digital entrepreneurs do. The COVID-19 pandemic played a crucial in ramping up the technological changes and accelerating digital entrepreneurship opportunities.
What is digital entrepreneur? It is a person who sells their product or services over the internet. There are numerous ways in which you can become a digital entrepreneur. It’s not only limited to selling your services or products in an e-commerce store.
Content creation also falls under digital entrepreneurship when creating content to generate revenue. But if they’re not selling anything, how are they making money? Content creators make money through affiliates, brand deals, Google Adsense, YouTube, etc.
If you’ve got all the steps to becoming a digital entrepreneur jumbled up, don’t worry. We’re here to teach you everything you need to know and do to become a successful digital entrepreneur.
1. Have Realistic Expectations
Here’s one thing you must remember. You get what you work for. Success doesn’t exist without diligence. Becoming a digital entrepreneur is not easy. You’re enthusiastic in the beginning, but suddenly your motivation starts dropping. That’s the time when your passion will be put to the test.
Some days you will have to drag yourself to work, and some days you might not see the results you want. But it’s okay. You will have to work extra hard in the beginning. The results will be worth everything you put in.
2. Come up With an Idea
It sounds so simple that all you need to do is come up with an idea. But is it that easy to think of one? No. But here’s the thing, you don’t have to be creative or a genius to think of brilliant ideas.
Here are four simple ways to think of an idea.
a. Find Solutions to Everyday Problems
Let’s take an example. Richard Branson’s flight was canceled. He was stuck at the airport. He then rented a plane, sold tickets to other passengers who were stuck, and ended up making a profit. That’s how Virgin Atlantic Airlines was born.
Do you see how solving your or other people’s problems can make you money?
Listen carefully to other people when they speak. They might ask a question or state a problem to which you can come up with answers. And those answers might help you think of a business idea worth thousands or millions of dollars.
Marilyn Vos Savant, the woman holding the Guinness record for the highest IQ, says, “to acquire knowledge, one must study. But to acquire wisdom, one must observe.”
We, as human beings, have inquisitive brains. Observe the events and things surrounding you. Your eyes may catch something that, to your brain, might be fascinating, problematic, or curious. Solutions or answers to that might turn into a million-dollar business idea.
If you had zoned out, zone back in so you don’t miss out on the most crucial tip.
There’s no time for ideas. They could invade your mind in the shower, at 3:am, in school, literally anywhere. Note them down. You don’t have to construct something immediately, just write it down. Whatever question or answer you get, just note it down. Later you can ponder over it and construct a coherent plan.
3. Prepare and Launch
There are many platforms where you can start. For content creation and eCommerce businesses, Google, YouTube, Facebook, and Instagram can be great choices.
Starting an E-commerce Business
For an eCommerce business, you need to research the product you choose. Decide whether you will be manufacturing it yourself or sourcing from a supplier. Identify what may discourage and encourage potential buyers.
Next, you will need an online store. Are you worried about the cost of a website developer? Don’t. Let us Introduce you to Strikingly. It is a ridiculously easy-to-use website builder that lets you create publishable, beautiful, responsive websites in just minutes.
Here’s how you can build an online store with Strikingly in just 5 steps:
1. Sign up for free, and navigate to the dashboard.
2. Tap on the “Create a new site” button. Once you’re taken to the templates explore page, pick the one you like.
Image taken from Strikingly
3. Click the “Edit” button, which you will see when hovering the mouse over the chosen template.
4. Once you’re taken to the website editor, tap on the green “add section” button on the left.
Image taken from Strikingly
5. You will see the “Commerce” option listed at the top of the menu that just opened. Select it, and the store section will be added to your site. You can then start styling and adding products to your store.
Creating a website using Strikingly is entirely free. However, you can opt for one of the three premium plans. Why should you spend your money on Strikingly plans when you can get a website for free? To get hold of the coolest features that will make your store stand out.
Image taken from Strikingly
Moreover, if you subscribe to premium plans you will get a free domain for one year. Connecting a custom domain to your site is crucial because it will help your audience trust your site, boost SEO ranking, and make your site’s name easily memorizable.
Image taken from Strikingly
Starting as a Content Creator
There are numerous platforms where you can create content. You can either become a YouTuber or create a blog. You can also do both.
First of all, you need to select a niche. You need to consider two things to decide the niche for your channel or blog.
1. What you love and are good at.
2. Niches that are trending. For example, digital entrepreneurship, which is trending in 2022.
Once you’ve decided on the niche, brainstorm content ideas. Next, create a YouTube channel and get the right equipment. Below is a list of equipment you will require.
- Good quality camera
- Tripod Stand
- Video editing software
- Screen Recorder
Note that not all of these will be crucial for your channel. Consider the type of YouTube channel you create to decide what equipment you will require. We would recommend going for free software in the beginning. Ensure that you don’t spend a lot of money on other equipment as well.
To become a digital entrepreneur as a blogger, you will have to create a site that you can easily do using Strikingly.
To add a blog section to your Strikingly site, refer back to the 5th step of creating an online store above. Below the “commerce” option, you will see “blog.” Click it and select the style you would prefer.
4. Promote Your Business Digitally
Marketing your business is one of the crucial steps to becoming a digital entrepreneur. If you don’t get the word out about your business, it may not succeed even if you have a brilliant idea.
a. Run Facebook Ads
This is your sign to promote your business through Facebook ads as soon as possible. You should expect to pay $12.07 per 1000 impressions. If that sounds expensive, do it now before they go up to $30. The popularity of digital marketing clearly tells that the price of Facebook ads will shoot up soon.
Facebook can be a great help in becoming a successful digital entrepreneur, only when used correctly. Else, you could lose money.
Understand that everyone will not love your product, service, or content. So you need to target the people you know will like to see it. Facebook allows you to target the audience based on location, age, job titles, etc. Use that feature wisely to get the best out of the money you spend on advertisements.
b. Collaborate With Other Creators
As a YouTuber, you can reach out to other creators in your niche and ask if they’d like to collaborate with you. This will benefit you in multiple ways. Collaborating with other YouTubers can increase the budget for your videos.
Subscribers of the other YouTuber(s) you’re collaborating with will know about you and will check out your channel since you all create content in a similar niche. Moreover, when collaborating with other creators, you can share ideas to create content your audience will love.
As an owner of an online store, collaborating with creators can benefit you too. They will promote your product and earn a commission on each sale made from their affiliate link. And you can get your business promoted without paying anything upfront. It’s a win-win situation for everyone.
SEO marketing is a way to rank your website or YouTube channel by using specific keywords in your blogs or YouTube channels and video descriptions. You can search for those keywords using free tools such as Google trends or paid tools such as Semrush.
As an online store owner, you can start a blog alongside your store. Creating valuable content will help you build a customer base as it would tell your audience that you’re selling to them and helping them.
4. Sit Back and Analyze Your Business’s Performance
After publishing first video or website, analyze the performance. Consider the feedback your audience gives. Usually, people might leave some video suggestions or requests in the comments. They might even criticize, so you must learn to take criticism well.
Moreover, you can view insights of your site, which will tell you what content or products are more popular among the audience.
Remember, digital entrepreneurship doesn’t only mean selling products or services. It is about selling people solutions to their problems. Anyone can become a successful digital entrepreneur. All you need is an idea, patience, and dedication to work hard.