Good day, guys, I have been on my career path for 20 years. I recently wanted to start a simple online business and I am settled, for the time being, in my home country of Egypt which should be taken into consideration. Thanks in advance.
It depends on what type of online business you want to run.
For selling online (physical or digital products), you need to figure out your audience first, and then find or create products, that will sell. Also consider how you will get paid - living in Egypt may put restrictions on money transfers (for example - does PayPal operate in Egypt).
You can also do freelance work online.
Bottom line - starting an online business is easy. Getting clients and getting paid is more complicated.
The good thing about an online business is that it's location independent. However; the basics of building a business still apply.
These are the most important:
1. Good - growing businesses are the ones which solve a problem. e.g. I need organic eggs in my area, but can't get them.
2. The need / problem to be solved is shared by a large enough market. e.g. Those who need organic eggs delivered to their home are not 1% of the market for online shoppers but a decent chunk.
3. You design a solution, thinking MVP. (research what an MVP is if you are unfamiliar)
4. Test out in small groups, do customer interviews. i.e. validate your idea - confirm the market really responds to it.
5. Invest more of your time, energy, money to building.
6. Keep iterating.
7. Solve problems and focus on execution quality.
8. For all of these, you need to read and research obsessively around this topic.
Wish you the best of luck.
I need more information about your individual situation to provide a better answer. What type of business are you interested in starting? What is your background? How much money would you like to generate from this online business? How much time are you able to commit to it?
With a general question like above, you will get a very general answer.
I've been running online businesses since 2011. Everything from selling eBooks and Digital Products to selling on platforms like eBay, Amazon, and Etsy to running my own wholesale business and eCommerce shop.
When you say you want to start an online business, do you have any idea what type of business you want to start? Is there a service you want to offer? Is there a product you want to sell?
Your question as asked is a little bit vague as there's so many different ways one could get into running an online business.
Assuming you mean eCommerce I would look to what products your country produces domestically. I don't know a ton about Egypt but I believe sheets, scarves and other textiles are high quality and I imagine cheaper than in many other parts of the world. I would begin to look into this for starters.
Can you elaborate more on what type of business you'd like to start?
Before starting your online business you'll need to have a clear brand strategy. You'll need to develop your brand so it looks highly polished and professional so you stand out. Presumably, you'll need to sell online. Both WIX and Shopify and great platforms which can be done quickly and on very small budgets. There's so much more I could write here, but hope that helps as a start and happy to answer any specific questions, please contact me directly. Hope all goes really well and best of luck, Therese