Are you feeling stuck or frustrated, unable to find success in your ventures, don’t have resources or equipment, or you cannot put your ideas on productivity? Your ultimate goal is to make money. Have you ever think about being an entrepreneur. What is Digital Entrepreneurs?
Do you want to master something? You need recognition, success from your work, or your imagination. One way to start all this is to work as an Entrepreneur. Digital entrepreneurship is a transformation of existing businesses by using new digital technologies.
An Entrepreneur should know how to maximize sales and profit, referral engine to boost sales, effective marketing strategy, potential customers, business metrics for success, marketing mediums, social media marketing, and quick startup plans.
Who are your potential customers:
You should first identify the potential customers and make a list of them, i.e. who is going to purchase your product or service? What services or products you are going to offer to your customers? Who are your competitors and what products or services they are offering?
Products/services you will sell?
Your first target would be to develop a product or a service in order to sell and generate money. You should first provide information about your product/service.
Try to identify the right product/service for your targeted customers. You should keep in mind that there should be an enough demand for the product/service you are going to introduce in the market.
What should be your development strategy?
What type of products/services you should sell? Anything that you have expert knowledge of or anything you can manufacture/produce and sell in the market. The only thing to remember is that there should be a good demand for your product/service in the market.
Introduction to your product in the market:
You should adopt a problem-solving approach for your product/services. Describe how your product/service is going to solve customers’ problems. How your product/service is going to help the customers. Find out the solution to the problems.
What product/services you are going to offer to your potential customers and who needs your product? Who are your competitors and what products they are currently offering?
Your product/service should focus on solving customers’ problems. Product needs are design, compatibility, experience, price, efficiency, reliability, performance, and functionality.
Service needs are transparency, details, options, and most important is after-sales service.
Pricing of your product/service:
First calculate the selling price of your product or service. Here is a simple formula to calculate the selling price of your product/service is; include all the expenses from raw material purchase to customer delivery. Add your margin in the expenses and that will be your selling price.
Mode of payment:
In this digital entrepreneur era, there are many ways of making payment from buyers to the seller for products/services sold. Common payment methods used today are through cheque, cash, credit or debit cards, money orders, bank transfers, and online payment gateway services.
A payment gateway facilitates a payment transaction by transferring money on a portal such as a website, mobile app. If your business has a website, you can add payment gateways for accepting money.
How to improve product knowledge:
To improve your product’s knowledge, make a promotion of your product/service.Do not stick to one mode of promotion, try using different mediums for promotion. This will let your customers about arrival of your product/service in the market.
Many organizations use effective marketing mediums in the market about their product/service for marketing communications and brand advertising. Choosing the desired message and effective marketing medium is necessary for your brand.
Innovative mediums for advertising:
The different mediums are,
1- Tele marketing
3- Telivision marketing
4- E-mail marketing
5- Radio marketing
6- Serach engine optimization
7- Outdoor marketing, i.e. boards, displays
8- Social media marketing (the most important way of advertising nowadays)
9- Community maketing
10- Door to door sales and marketing
11- Personal selling and marketing
12- Marketing and selling through referral engine
Referral system for your business:
Try to make a referral program for your business. Offer gifts, discount vouchers, cash discounts for your referral system.
Referral marketing is the method of promoting products/services to new customers through referrals from existing customers, usually by viral marketing.
These referral programs are powered by customers, who are the most important part of our marketing. From a customer’s point of view getting rewards, discounts, or cash back in exchange for a reference is effortless and a very simple task.
List of home-based business ideas:
Following is the list of 20 home-based business ideas that a woman can start while working from home and enter the world of Digital Entrepreneurship. These business models are too effective and practical.
1- Food/Drinks business
2- Marriage Bureao
3- Human Resource Consultancy
4- Software editing
5- Delivery of homemade meals for working people
6- Social Media Marketing
7- Voice over Recording
8- Home Based Learning Institution
9- Styling/Saloon services
10- Language translator
11- Website designing
13- Stichting and designing
14- Paying Guest Rooms
15- Data Entery
16- Home Boutique
17- Trade in stock market
19- Day care facilities