Starting an online business 101 for beginners.

If you are looking to start an online business but are not sure where to begin, I am glad you have landed here! Starting an online business may seem like a daunting task, especially for beginners. But in reality, all you need is a bit of guidance and a simple plan to get you moving.

In this post, I will walk you through two core concepts to help lay the foundations for your new business: SKEPT and The 5 Ones.

I am going to keep things as simple and straightforward as possible to get you from idea to action without the overwhelm. 

SKEPT Exercise

My number 1 rule when it comes to starting any kind of business is to first know what you can bring to the table (ie the market). To get the results you want fast, you simply have to play to your strengths, instead of starting from zero. 

If you have zero knowledge about coffee, it wouldn’t make sense for you to open a coffee shop or teach people how to brew a coffee. Yes, you may argue you still can, but it is going to cost you lots of time and resources to find the perfect formula that works for you.

What is SKEPT?

The SKEPT exercise helps you to break down what your unique pillars are to brainstorm business ideas that play to your strengths. SKEPT stands for Skills, Knowledge, Experience, Passion, and Talent. Let’s take a look at each one:

• Skills: What skills do you already have that you could turn into a service or product? Think about anything you are good at, whether it is graphic design, writing, or even coaching. These skills are your first building blocks.
• Knowledge: What topics or industries do you know well? Knowledge builds confidence, and when you are creating something you know, it is easier to add value and attract customers.
• Experience: Your past work, hobbies, and life experiences can give you an edge. Think about what you have learned along the way, whether it is managing projects, cooking, or organising events. There is probably something unique you can bring to the table.
• Passion: Passion fuels the fire, especially when things get tough. Choose something you care about so that even when the work is hard, you are excited to keep going. What gets you talking for hours or gives you that spark? Make sure it is part of your business.
• Talent: Your natural abilities or “superpowers” can make you stand out. Maybe you are naturally creative, a whiz at problem-solving, or a great listener. Highlight these talents in your business. These unique traits are what will help your offer shine!

For the detailed step by step guide on the SKEPT exercise, read here.

With SKEPT, you are ready to identify what makes you unique and valuable to your future customers. Now let’s move on to The 5 Ones, a strategy to keep things simple and focused as you start your business.

The 5 Ones

Here’s where things get really fun! The 5 Ones are five essential “ones” you need to stay laser-focused and grow your business effectively. Think of this as the recipe for a steady, focused journey.

One Offer

Start with one product or service. Just one! It might be a digital course, a coaching package, a pdf guide, a service, or a subscription plan, whatever fits your skills and passion. Keeping it simple with one offer lets you build a strong base and perfect what you are providing. You don’t need a hundred products to make a difference; you just need one that meets your customer’s needs.

One Problem

Now, identify the one main problem your offer will solve. What is the one challenge your target customers face that your offer addresses? The more specific you are about what problem you are solving, the more appealing your offer will be. People tend to prefer specialists over generalists. 

Whether it is saving time, improving workflow, or learning a new skill, focus on just one problem to solve. This keeps things clear for both you and your audience, making it easy for them to see why they need what you are offering.

One Target Market

Who is your one ideal customer? Knowing exactly who you are talking to means you can create messages, products, and experiences that speak directly to them. Your target market could be stay-at-home parents, young professionals, or even small business owners. 

Targeting everyone simply doesn’t work, it is like throwing a water bomb at no target! The more specific you are, the better you can meet your ideal customer’s needs. Imagine you are having a conversation with them. Think about what they care about, and how you can help? 

One System

To run your business smoothly, you need one system that takes care of all the behind-the-scenes work. Building an automated system frees you up to focus on the important parts of business like sales, marketing, and delivering your service or product, instead of getting bogged down in admin tasks.

A good system helps with productivity and efficiency, and it allows your business to run like a well-oiled machine. Learn how to build an automation system in the Online Income Lab, mentored by Stephy, a 7-figure digital marketer.

One Year

Commit to this plan for one year. Yep, a whole year! Consistency is the magic ingredient for success, especially in the online business world. Focus on perfecting your offer, solving your chosen problem, reaching your target market, and using your system to make it all happen. 

Give yourself time to learn, grow, and adapt. At the end of the year, you will be amazed at how far you have come.

Starting an online business doesn’t have to be complicated, and with the SKEPT framework and The 5 Ones, you have a solid foundation to kick off with confidence! Just remember: this journey is about building something that you believe in and that works for you.

This post is all about starting an online business 101.

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