But here’s the thing: Instead of jumping on the bandwagon to start an online business, make sure you do your homework first. Most people launch a product and market it later. Big mistake!
You want to do the opposite – study the market first, launch next. How? Since it’s going to be an online business, start looking at online forums, comment sections of your competitor sites and what people are searching in Google (using Google Keyword Tool).
Once you pass stage one successfully, you can think about launching a website/product/service. That’s where the real magic happens.
Here’s what comes next:
- Writing content
- Starting a blog
- Having a presence on social media
- Establishing an expert status for yourself
- Email marketing
- Outsourcing tasks you don’t have the time or inclination for
- Following influencers closely
- Launching a product or paid service
The list is unending.
It’s easy to get burned out in the sea of tasks and strategies when starting an online business. Thankfully, there are tools available to help you get off the hamster wheel and launch a successful online business.
The best part? You don’t have to spend a fortune on these tools. Here are eight tools to start an online business without breaking the bank:
1. Hostt
An online business needs a website domain name and space to “host it”. Hosting is an ongoing expense for your business and it usually incurs a monthly cost with an option to pay it upfront on a yearly basis.
And that’s where Hostt.com is revolutionizing the hosting world. What I love about Hostt is that it offers free hosting for all your websites. They also have a 24/7 tech support and a cpanel that makes website management quick and painless.
There is no catch – no ads. The hosting is 100% free. They only ask you to have one domain name with them (which costs $13.95 a year).
2. WordPress/Shopify
Once your website is set up and hosted, you’re ready to install a CMS or a platform on which your web pages and content will sit.
WordPress, originally a blogging platform, is the most popular solution in existence today. Most top bloggers use and recommend WordPress. The best part? It’s free to use.
Once you have your website hosted (see #1 above), your hosting company’s cpanel should let you install WordPress using the “1-click install” functionality.
WordPress is great for any type of website; but, if you want to create mainly an e-commerce store (in other words, an online store with a checkout shopping cart), you have better options out there.
Although WordPress is pretty flexible and a full-blown CMS now, it was originally built for blogging, not for e-commerce purposes. If you predict having a large product catalog and lots of e-commerce relevant features, try a service such as Shopify.
Most e-commerce experts will advise you against WordPress for an online store. Shopify is highly customizable, robust and affordable for a professional shopping cart. There are other alternatives available in the marker too, so make sure you do your research before launching a web-store.
3. BuzzSumo
Once you have a platform ready, you need content. And not just any content but good, solid content one that your readers find educative, interesting and engaging.
BuzzSumo is a neat little tool that analyzes what works for your readers. It helps you find content and topics that will do best for your type of audience.
Just open their webpage and enter your main keywords in the top search bar. You can also add a domain name to see what’s working well for them.
BuzzSumo returns a list of articles with the number of shares (so you know what is popular and can get ideas from those topics for your own website).
Super-helpful from SEO perspective also. So go on, give it a try!
4. MailChimp
But you can’t just stop after creating juicy content. The next step in line is to promote your content and one of the best ways to do it is email marketing.
Mailchimp is an email newsletter service that is used by more than 7 million people. You can get started with their “free forever” plan if you have fewer than 2,000 subscribers and send less than 12,000 emails per month (which is very likely when you’re starting out).
To get add-ons such as autoresponders and delivery by time zones, you can upgrade for as little as $10 per month. I’ve been using MailChimp for years now for my own websites and that of my clients, and have no regrets.
5. Buffer
Apart from promoting content and educating your readers via email, you can also use social media to share and push your new posts out there.
Buffer is a nice little tool to schedule all your posts across different social media. The clean and easy to use interface is one of the reasons it’s so popular. What I personally love is their “Suggestions” tab on the dashboard.
Buffer scours the web for best posts on other websites that you can instantly use to share with your own followers. When I’m low on the shareable content reserve, this feature is super-handy – all I have to do is read the suggested article and (if I like it) click the link to share or schedule it for my own channels.
6. ClickMeeting
If you are in a freelance/service-provider business model like I am, you have a constant need to communicate with your clients or collaborate with your team all over the world.
ClickMeeting is a platform to meet and record audio and video conferencing with your clients (for up to 25 participants). It’s perfect for briefing and presentation purposes. You can also brand all your meetings and impress your clients like a pro. Plus, they have a translation service if you’re exploring international markets.
They also offer a sister-product called ClickWebinar to conduct virtual trainings (for up to 1,000 participants) and webinars with your audience.
7. FancyHands
Let’s face it – despite all the tools in the world, you will still need external help. That’s where services such as FancyHands come into picture.
FancyHands brings you a team of virtual assistants who can do a lot of things at less than $1 a day, if you’re using their basic plan that costs $29.99/mo.
Here are some services for which people have requested in the past (as per the company’s website):
My co-worker is in the hospital after a bad car accident. Can you call the gift shop there and ask them if they sell fun things to do to pass the time that they could send in a gift basket type of thing to him? Crossword puzzles, trashy magazines, stuff like that. I’d like to spend about $50. If they don’t do that sort of thing, please find a place that can.
Please make a lunch reservation at Barolo under my name for Friday at 1pm and call Jennifer Wilson’s office and let her know that the meeting is confirmed. Please add it to my schedule as well.
Please fill me in on the top 5 trending topics on Twitter today, both worldwide and locally in Los Angeles.
A fun way to get your time back, right?
8. Xoom
I saved the best for last – getting paid. Xoom is a perfect alternative to Paypal. Where Paypal is notorious for charging hefty transaction fees (try this calculator to find how much you’re being charged), Xoom charges a flat fee of $4.99 for up to $2,999.
With their 24/7 customer support and faster money transfers, Xoom is one of the easiest ways to send money.
Your Turn
Are you starting an online business? Which one of the above tools is your favorite? Would you like to add more? Tells us your thoughts in the comments below.
Oct 19
10
Selling Your Home for Maximum Value
Don’t underestimate the power of home improvement projects and home staging—these things can amp up your home’s appeal inside and out, and have buyers fighting to make an offer. Preparing your home for the market is a chance to make money and gain experience—take advantage of this opportunity by working hard.
Home Improvement Projects and Repairs
Small repairs and upgrades often have the biggest impact. Buyers want a home that is move-in ready. Minor things like burned-out lights, broken windows and cracked pavement detract from a home’s perceived value. Make sure everything is in good working order, and then tackle the upgrades. With a return on investment of 130 percent, replacing your front door is the top improvement.
If you’ve lived in your house for years, you probably have a few projects that have been on your to-do list forever. Some of these may be good choices, but others may be prohibitively expensive—projects that have excellent returns share these traits, as they are affordable and reduce maintenance requirements. They improve efficiency, and they address problems.
Improvements for Kitchens and Baths
The kitchen and the bathroom are prime candidates for remodeling, but you might be able to get away with less—replacing drawer handles and knobs is an excellent step. You may also want to repaint or refinish drab cabinets if they are structurally sound. Purchasing a new fridge or oven is also a nice step, as a premium appliance can give a room a measure of quality.
Installing modern light fixtures is another winning effort. In the bathroom, neutral colors create a classic look. Install a new shower head, and make sure the floor and shower itself are in good condition. Replace the caulk. Review thishome improvement guide to see which projects are worth the work.
What about Paint?
Fresh paint is one of the most welcome and recommended improvements if you’re selling your home. This project is simple and inexpensive. With good preparation, paint can cover minor blemishes and nicks—it can also conceal the bold paint in a child’s bedroom (buyers generally prefer neutral colors). You can maximize your return and achieve professional results by completing appropriate prep work, masking the trim, spackling holes and sanding the base coat. Low-VOC paint is an excellent choice and can be a selling point when you’re marketing your home.
Outdoor Upgrades
Exterior improvements are extremely beneficial for improving your home’s market value. Purchase new house numbers, replace broken or drafty windows, or install a new garage door. Invest in new siding, or make sure that your existing siding is free from mildew and stains. If you want to make a more major improvement, build a deck or patio. These functional areas will help buyers visualize a new life in a new home.
Landscaping for Curb Appeal
Landscaping can increase your home’s curb appeal and value considerably—the challenge is knowing where to start. First, how does your landscaping compare to other homes in the neighborhood? Is it lagging behind, or is it leading the way? Second, if your home has overgrown landscaping, it should be trimmed back, or even removed completely. Dying, neglected or overgrown plants will decrease your curb appeal. However, if you add a variety of landscape plants, your home’s value can increase by as much as 10 percent. You can easily double the money spent on plants, mulch and other supplies.
If you spend just 2 percent of your home’s estimated value on landscaping, you’ll see major returns. A study by Virginia Tech found that adding landscaping increased the value of a $150,000 home by more than $8,000. The sophistication of the design, the diversity of the plants and the size of the specimens are generally the most important aspects.
If you’re getting ready to sell, you should have about two months to make changes to your landscaping—a bag of lawn fertilizer and a load of mulch are ideal for sprucing up a home quickly. Outdoor furniture, potted plants and seasonal flowers are excellent choices for improving the appearance of your yard, and adding value to your home.
The Best Times of the Year to Sell
You’ve worked hard to spruce up your landscaping, and you want buyers to see the result. However, this might be impossible if your yard is covered by a foot of snow. Timing a sale is tricky, and it can’t always be helped, but you can maximize your returns by understanding what drives the market. Traditionally, spring has been the best time to sell, though this may not be the same in every case.
Buyers are active, and families want to get their kids settled before school starts. Approximately 60 percent of families who move do so in the summer, which shows how many homes sell in the spring. However, this trend is slowly changing. If you aren’t ready to list in the spring, you still have a good chance to profit—new data shows that November is one of the hottest months for home sales. But why?
Today, more than half of home buyers are retirees, single millennials, and couples without children. The school calendar doesn’t affect these individuals—in fact, listing in the autumn and winter is advantageous, because the housing supply is lower. It becomes a seller’s market!
As a general rule, homes listed in the fall and winter are 10 percent more likely to sell for the listing price, and to sell within six months. Don’t fear the holiday season either! If you can handle showings during this hectic time of year, feel free to list your home. Wintertime buyers are often in a hurry to relocate for a job, and thus need a home quickly. If your home is available, they may be willing to pay a premium price.
Staging a Home
Homes that are staged sell faster, and for more money. You could hire a professional, but many of these things can be done on your own (and for a fraction of the cost). Home staging starts with a thorough cleaning—strip waxed floors, shampoo carpets, and make every surface spotless. How much light a home has is also a major selling point.
Wash the drapes, or buy new curtains. Clean the windows and screens to let in more sunlight. Put in high-wattage bulbs that show off your home.
After you’ve cleaned, it’s time to declutter. Remove family photos and keepsakes. Clear out the garage. Donate items that you don’t use. Then, store the rest!
Ideally, your home should be 90 percent packed when it’s time for a showing. Closets and storage spaces are especially important to buyers. Make sure closets are tidy and no more than half full.
Finally, arrange furniture to give each room a distinct purpose. Multi-purpose rooms give buyers a mixed message—it’s better if the buyer imagines a home office in a spare bedroom, rather than seeing a computer desk crammed next to a daybed.
Test your improvements by walking around your home and looking at everything like a buyer would. Staging gives you the power to decide what potential buyers see (and what they don’t see), including your children and your pets. This process starts before you list your home, and continues through the showing. It can be a good idea to brainstorm a variety of home staging ideas in advance.
Aromatherapy for Home Sellers
Staging makes your home look great in listing photos, however, pleasant smells can make your home appealing in person. Before you get out the air freshener, it’s important to remove unwanted odors. Pet odors and cigarette smoke are two of the biggest turnoffs for home buyers. If you have a problem with either, take steps to address these issues early in the process.
Some homes suffer from musty odors. Open the windows regularly to draw in fresh air. Clean the walls, carpets, upholstery and any surfaces that harbor unwanted odors.
Scientists know that olfactory experiences have a great effect on behavior. Neutral and natural scents, such as lavender, orange, lemon and pine, appeal to potential buyers. Avoid overbearing blended fragrances or artificial air fresheners. Studies show that strong scents create a mental disturbance and inhibit the decision-making process that is critical when someone is making the biggest purchase of their life.
Vanilla extract and essential oils are excellent choices for perfuming various areas of your home. You can also boil cinnamon sticks or orange peels about an hour before a showing.
Think seasonally, and consider what fits your home and the buyer. Avoid derisive scents like patchouli, and keep in mind that many people are sensitive to powerful fragrances.
Hiring the Right Realtor
All of your hard work up to this point won’t pay off without an effective real estate agent. The right realtor can make the process of selling your home easy and profitable. It’s tempting to hire the realtor who originally sold you the home or who found the perfect property for a friend, but these choices can prove to be less than ideal.
A selling agent needs to be on top of the market and understand all the nuances of your neighborhood, including the sale prices of comparable homes—pricing a home is an art!
If you start with the right number, you’ll get more offers and still have room to negotiate. If you start too high, your home might sit on the market, face price reductions and eventually sell for less than it would have.
Look for an agent who is experienced and works in your area regularly. You need an accurate market analysis, not an inflated valuation. Here are a few questions to ask to help you find the right realtor.
1. How quickly are your homes selling? How does this compare to the average selling time?
2. Did the homes sell for more or less than the listing price?
3. What will you do to market my home locally and online?
4. How often will you update me on any progress?
5. May I speak to your most recent clients? Ask about the agent’s communication skills, sales strategy and interaction from the listing through the closing.
How well you prepare your home for the market can alter a buyer’s perception and help you get top dollar. Everything you do should send the message that your home is well-maintained and ready for new owners. If you’re preparing to move, you’re probably ready to buy, which means that you should be able to see your home from a buyer’s perspective. These strategies will help you sell your home quickly, and capitalize on its full value.