12. 7 Steps to Starting Your Successful Online Business

What are the steps to starting your successful online business? How do you make sure it’s successful? 

Starting a business is the adventure of a lifetime! We want to make sure you have everything you need and know what you need to get started. In this episode we cover 7 basic steps to getting started:

1. Start with a Business Idea

It all begins with having an idea. This is a fun part! You get to explore so many options, explore what you like and don’t like, what are you good at, what hobby or interest could you turn into income, etc. Allow yourself to dream at this stage. 

To help you get started, we’ve provided a list of 63 Online Businesses You Can Start While Traveling. These businesses all have a low start-up cost, which is a huge plus! 

2. Conduct Market Research

It’s important to know how you’re going to serve your clients, what need you’re filling in the marketplace, and what your competitors are doing. You’ll do this repeatedly throughout your business career, but doing it before starting is an important place to begin. 

3. Build a Portfolio

You might need to start with mock projects or free projects for friends/family, but getting some work under your belt that you can then piece together into a portfolio will jumpstart your business. Use this initial portfolio to get more clients, then you can continue raising prices as you get more and more social proof and referrals. 

4. Make Your Business Official

Oh no… taxes, legal entities, business structures… you might be feeling overwhelmed by all this! But it’s not as scary as you think, I promise. It’ll take a little bit of research, but lucky for you we have a good friend who can help you out. Krystal at Nomad Tax can help you with any tax or legal-related questions you might have about your business. Reach out to her with any needs you have! 

5. Plan Your Finances

Financial planning is extremely important, we can’t stress that enough! Open up a business bank account and separate your personal and business finances. Work toward opening business credit cards, and keep track of all your transactions. 

6. Know What Software You’ll Need

Softwares help you communicate with clients and team members, receive payments, and keep track of projects. There are so many great options out there, but here are some of our favorites:

• Slack + Google Meet (communication software)
• Clickup, Google Calendar, Microsoft To-Do (work/project management software)
• Dubsado (client management software)
• Stripe, Quickbooks, Wave Accounting (finances)
• Showit (website building)

7. Marketing

Start with organic marketing, meaning attracting clients through providing value and building relationships. Having a website is extremely important. 

Marketing takes time and patience, but working on it from the get-go (along with networking and referral building) is a surefire way to start your business off on the right foot. 

This episode is the beginning of a series of episodes we’re releasing in preparation for our new course, The Beginners Guide to Working and Traveling as a Couple. In this course, we help you create the right mindset for digital nomadism, traveling, and starting your successful online business. If you’d like to learn more about your mindset through the lens of becoming a digital nomad and working online with your partner, join our waitlist! 

Links/references mentioned in this episode:

• Course Waitlist (join our beta launch for a 50% discount!)
• Nomad Tax
• 63 Online Businesses You Can Start While Traveling

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