So you want to start an online business in South Africa?
I must admit, taking such a leap is no joke.
See, most people spend over 80% of their time spinning wheels and never getting started.
And when you ask them, all you hear is, ‘Am still researching this or that.’
When it the real sense, they stall.
They are scared to take leave the shore.
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Here is a heads up
You now see why it is a huge deal if you have leaped faith.
I am writing this article to give you a head up.
Where you are going is a jungle.
And truth is, if you are not prepared, you are not going to make it.
So, today, I am giving you a cheat code to help you have a shot at making out alive, so to speak.
What you are going to learn today is your secret to increasing the odds of hitting the jackpot.
As you already know, 90% of businesses started here in South Africa do not see their fifth anniversary.
Why is that?
Here is the reason why 90% of businesses fail
Among very many other factors, most businesses fail is that they fail to deliver what the customer expects.
See, you may think the sole reason for starting a business in South Africa is to make a profit.
That may not be further from the truth.
Let me put it this way;
The real reason why serious entrepreneurs start a business is to solve a pain.
You are not going to a business because you saw a chance to make money.
In fact, over half of businesses end up not returning a profit.
But do they close?
They stick to it because they understand the impact of their existence.
And that is the thing; you need to be clear on the impact you are bringing into the market.
The secret to starting a successful online business in South Africa
Understanding your impact is an elusive thing to get hold of.
And that is why most businesses close in under 5 years.
If only you can comprehend the value your product or service is bringing to the market, you can start scaling like crazy.
Here is the shortcut to unearthing is a vital aspect.
Understand your target market, period!
It is that simple.
If you can understand your customer more than anyone else, even more than themselves, be assured of constant growth.
To understand the customer, you need to answer the following questions;
- Your target market’s demographics. Find things like; age group, gender, location (local, regional, national &/or urban, suburban, rural), marital/Family Status, income level, education level, and occupation
- What needs, challenges and frustrations do they have?
- How does your idea, service, or product help your target audience?
- What drives them to make purchasing decisions?
- What media do they currently use?
- How can you best reach your target audience?
Answers to these questions help you stay focused on doing what matters to those who matter the most.
By understanding what your target market is struggling with, you are able to position your business as the perfect solution.
This way, when they hear your message, they feel like you are talking to them personally.
At the same time, pinpointing where they hang out and what they spend most of their doing, helps you reach them easily.
If you are targeting women who love cooking, your best move could be to identify cooking Facebook groups.
Join them and be an active member, contributing to the community.
And then sneak in your business whenever an opportunity arises.
Why is this important?
This is not important, it is vital to your survival.
Here is why;
If you miss understanding your target audience, how are you even going to sell to them?
What products are you are going to offer them?
Here is the thing;
You can be selling the highest quality products, but if I don’t need one, I don’t care how good your sales skills are, I am not going to buy it.
Final thoughts on starting an online business in South Africa
If you want to start and grow a profitable online business in South Africa, match your product/service to the needs of your target audience.
And then deliver the message when they are ready to receive it.
Now, do that and watch how your business transforms from boring to exciting, thanks to a ton of happy clients calling in to thank you for being so considerate.
When all you did was offer them a product when they needed it the most.