The traditional advice for setting up a digital business is to choose a niche, develop a business plan, create a website, set up a payment processing system, market your business, and provide excellent customer service.
How to set up your own digital business: A contrarian perspective
1. Don't choose a niche.
2. Don't develop a business plan.
3. Don't create a website.
4. Don't set up a payment processing system.
5. Don't market your business.
Introduction
The traditional advice for setting up a digital business is to choose a niche, develop a business plan, create a website, set up a payment processing system, market your business, and provide excellent customer service.
While this advice is sound, it is also very generic. It doesn't take into account the unique challenges and opportunities of the digital world.
In this contrarian blog post, I will share some tips on how to set up your own digital business in a way that is more likely to be successful in today's competitive market.
1. Don't choose a niche.
Most people are told that they need to choose a niche in order to be successful. However, this is not always the case. In fact, it can be more advantageous to be a generalist in the digital world.
This is because the digital world is constantly changing. New technologies and trends are emerging all the time. If you are too focused on a particular niche, you may quickly become obsolete.
Instead of choosing a niche, focus on developing a skill set that is in high demand. For example, you could learn how to code, design websites, or write marketing copy.
Once you have a valuable skill set, you can then apply it to a variety of different projects and industries. This will give you more flexibility and make you more resilient to change.
2. Don't develop a business plan.
Business plans are often seen as essential for any startup. However, in the digital world, things move too fast for business plans to be effective.
By the time you finish writing a business plan, the market may have already changed.
Instead of writing a business plan, focus on developing a minimum viable product (MVP). An MVP is a basic version of your product or service that you can launch to the public as quickly as possible.
Once your MVP is launched, you can start collecting feedback from users and iterating on your product or service. This is a much more agile and efficient way to develop a successful digital business.
3. Don't create a website.
A website is often seen as essential for any digital business. However, in today's world, there are many other ways to reach your target audience.
For example, you could use social media, email marketing, or even paid advertising.
If you are just starting out, I recommend focusing on building a strong presence on social media. Social media is free to use and it allows you to connect with your target audience directly.
Once you have a strong social media presence, you can then think about creating a website.
4. Don't set up a payment processing system.
If you are just starting out, I recommend focusing on lead generation and offer creation. This will allow you to build a user base and get feedback on your product or service before you start charging for it.
Once you have a validated product or service, you can then set up a payment processing system.
5. Don't market your business.
Instead of focusing on traditional marketing tactics, focus on creating valuable content that your target audience will find useful.
This could include blog posts, videos, or even e-books.
By creating valuable content, you will attract people to your brand and build trust with them. This will make it much easier to sell your products or services in the future.
6. Don't provide excellent customer service.
Instead of focusing on providing excellent customer service, focus on creating a product or service that is so good that people don't need customer service in the first place.
This may sound counterintuitive, but it is actually one of the best ways to reduce your costs and increase your profits.
If you can create a product or service that is easy to use and reliable, you will have very few customer support tickets to deal with.
Conclusion
The traditional advice for setting up a digital business is often outdated and ineffective.
By following the contrarian tips in this post, you can increase your chances of success in the digital world.
Remember, the best way to set up a successful digital business is to be different from the competition. Don't be afraid to think outside the box and experiment with new ideas.
Tips for Success
Here are a few additional tips for setting up a successful digital business:
- Start small and scale up gradually. Don't try to do too much too soon.
- Focus on providing high-quality products or services.
- Be consistent with your marketing efforts.
- Be patient and persistent. It takes time to build a successful business.
Setting up your own digital business can be a rewarding experience. By following the steps above, you can create a business that allows you to achieve your financial and lifestyle goals.
Good luck!