I’m often asked about how I started as an entrepreneur, and I normally say it’s easy. I say this to be encouraging — the idea of starting an online business scares a lot of cash-strapped entrepreneurs, who tend to believe you need to be loaded to start out.
I disagree. It can be more difficult if you don’t have a fortune to invest with, but you can still build a successful business by using proven processes and routines. Here are four essentials of starting an online startup from scratch today:
1. Find one problem and solve it more thoroughly than anyone else.
What will my company be known for? That’s where I normally begin. I don’t want to start like others; I want to start with specificity.
When people ask me how to do this, my answer is simple: Find a specific problem and know all you can about it. Become obsessed with that one problem, because there are already people solving it with their brands. That’s why you need to find an angle that will help you solve the problem in a new, better way.
No matter how competitive your niche is, there are still little cracks here and there where newcomers can sprout up.
Locate those gaps.