Many entrepreneurs think that they will be able to launch their startup and find success within the first year. However, they are soon hit with the reality is that this almost never happens with an online business.
In the majority of cases, it takes much longer than that to achieve any measurable success. In fact, in most cases, it can take as much as four years before seeing any kind of significant revenue.
A lot of people do not want to have to wait this long to achieve success with their business. These people will either end up losing interest or funding long before they reach the one year mark. Luckily, there is a way to find success faster by doing one simple thing. By buying an already existing online business, entrepreneurs can help to jumpstart their startup success story by months or even years.
Thriving Customer Base
Finding and retaining customers in the online marketplace is the third biggest challenge that online businesses reportedly face. Therefore, when they are able to start with an already present customer base, it makes the challenge much less daunting.
Thankfully, if an online business is up for sale, that means it will have already been in full operation for at least several months. During this time, it should have gathered quite a few new and loyal customers. In addition to customers, it should also have a developed email marketing list. The entrepreneurs will take possession of both of these once they purchase the site.
Therefore they can focus a lot of their attention on things like improving products and altering the website layout. This saves them from having to spend a lot of time trying to entice new customers to visit the site.
Developed Social Media Presence
Considering the fact that 75 percent of customers use social media as part of their purchasing process, it is incredibly important for online businesses to have a strong social media presence. However, in order to do so, they need to make a lot of social media posts on all major platforms.
Developing fully fleshed-out Facebook, Instagram, Twitter, LinkedIn, and other accounts are something that takes at least several months to do but can often require years of effort. This can be easily circumvented by instead purchasing an online business that has already spent all of this time and effort creating engaging social media accounts.
Depending on how long the online business was in operation for and how large it grew to be, it could have a total follower count upwards of 1,000 people. This is something that can help put the entrepreneur a lot closer to achieving success with the online business.
Finding Successful Business Operation Tactics
When someone builds a company from the ground up, they’ll have no basis for what kind of tactics work. This is unless they have previously run an online business that is very similar to their current one. Having no frame of reference for successful business tactics will force them to do a lot of trial and error.
This can often lead to a lot of time and money being put towards something that then ends up failing. It is during this process of trying to figure out what combination of tactics to use that an online business often runs into financial problems that lead to it closing its virtual doors.
When you decide to buy an online business, a lot of the trial and error will have already been done for you. If the online business has grown to a point where you are interested in buying it, then it means that the combination of tactics that it is using must be at least mostly successful.
Therefore, it is very likely that you may only need to apply small changes to maximize the business’s performance. This will end up saving you a ton of money and effort and help you achieve success a lot faster. With all of these great benefits, it is no surprise that so many entrepreneurs choose to buy an online business. To buy some of the best online businesses out there for some of the best prices, then visit Flippa today.