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Common Problems Facing New Online Businesses Today

Starting an online business can be a bit challenging, especially if you are a newbie. It is worth noting that today online business is inevitable despite the problems that every entrepreneur faces while establishing a business.

There are unique challenges that your business will face. Sadly, a number of small enterprises fail to establish themselves online due to the fact they cannot overcome regular marketing problems, including stiff competition. If you have experience in web design, content creation as well as inbound marketing, then you will stand a higher chance in this new field.

Here are the most common issues faced by small online business across the globe:

Setting Up a Quality Website

This is the crucial step when it comes to building e-business. If you have chosen to go online, the first problem you have is designing the best website possible. This implies that you should be in a position to search for a reputable web designer, who can create captivating, easy to load and navigate site.

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Selecting the right programmer may not be easy, but it is an exercise worth trying. This is vital considering the fact that business metrics can be influenced by a series of factors such as general appearance, simplicity and so on.
 
Studies show that around 46 percent of the individuals like the websites that appear professional, and use this criterion as way to determine whether the site is credible or not. Therefore, it is essential to build websites that are not only elegant, but also function smoothly.
 
Content
 
With quality content, your site will appear at the top of search engines such as Google, Yahoo and others. This explains why it is vital to publish content, which is of high quality, informative and captivating. Creating such content can be quite difficult since it requires skills. Hiring an expert can help you write great content that is valuable to your niche.

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Moving at the speed of business
 
Growing an Audience Through Social Platforms
 
There are a wide range of social platforms or media that one can use to drive traffic to his or her site. Some of the leading social media comprise of Facebook, LinkedIn, Instagram, Twitter and more.

Remember that after creating a good looking website, the next hurdle is to market your site. One of the credible ways to achieve this is to employ social media. The objective of the social platform is to grow a large customer base that is interested in your products.
 
This involves knowing basics of search engine optimization and understanding website metrics such as bounce rate, conversion rate, visitors and many more. Social media will determine that number of people visiting your site during a particular timeframe.
 
This option can be time consuming since it involves time posting, monitoring and responding influencers in your site, across your targeted social platforms. In addition, managing several accounts can be demanding at the end of the day. Despite the above challenges, social media is a key aspect that businesses can use to gain attention of the future clients and leads.
 
Establishing New Leads
 
Each and every new online enterprise requires a mechanism of generating leads. In most cases, clients do not make purchases the first time they visit a website. This means that you ought to communicate with your potential clients a second time.
 
To realize your desired goal, capture contact details, which will help you initiate a personal relationship between your company and users. There are a variety of options to create leads, but one of the popular ways is providing free quality content in form of videos, ebooks, reports and so on in exchange for phone number or email address. This way, you will be able to communicate with your customers while making them invest in your products.
 
Converting Leads Into Sales
 
This is another challenge that new enterprises face today. Apart from generating leads, you need to convert them into sales. In order to make sales, your site should be credible and secure. Online business that want to excel must overcome this test.

Businesses that are optimized and rank at the top of search engines convert easily than those that are not optimized. This is because many clients use search engines when they want to order goods or services online. Therefore, when customers look up to you as an authority within your business or industry, they will value and trust your business and hence invest money in your products.

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From EIN to LLC Filings, How to Start a New Online Business.

Business Structures and How to Start a New Online Business, From EIN to LLC Filings

Today young entrepreneurs are earning by venturing various types of online businesses. While starting an online business you will have to decide about its structure as it will help in filing the income tax returns as well as applying for EIN.

The most common types of business structures include the sole proprietorship, partnership, corporation, and a Limited Liability Company or LLC all of which are run as per the laws of the state. You can choose from them after considering their legal and taxation requirements.

But most of them prefer to start multiple businesses these days to create more earning opportunities. In this condition it becomes necessary to know the best ways to manage different ventures suitably to run them successfully.

For instance a caterer can start as a part time copyright editor or a restaurant owner can start a wine shop along with it. These multiple businesses can be covered either under one corporation or by forming a separate LLC for each business. They can be structured as per legal as well as marketing perspective.

Structure of multiple businesses on legal perspective

While starting multiple online businesses on legal perspective then you can start them in three ways as briefly described here under. Though all the options have their own pros and cons but you can choose from them as per your own requirements.

Type 1: Start each business as a separate LLC or Corporation or LLC

In this option you will have to form separate LLC or Corporation for each business like separate LLCs for restaurant as well as wine shop. This seems to be easy to handle them separately but it can be rarely suitable for every business owner.

The main drawback of this option is enormous paperwork as you will have to fill up a number of forms for the purpose of taxation and administration of each structure. It can be suitable for the businesses containing potential risky liabilities.

Type 2: Start with one LLC or Corporation and add others under it as DBAs

In this option you can start by creating one LLC or corporation and register other businesses with various fictitious names known as DBA or Doing Business As within the same country or state.

This option is good for doing various types of independent businesses with different names and branding for their particular market even if they are legally protected by the main LLC or corporation. It will reduce paperwork enormously as the income of each venture will be filled as the income of the main corporation or LLC on a single form.

Type 3: Start with one LLC or corporation and add other businesses under it as LLC or corporation

According to this option you can create a holding corporation or LLC and include multiple businesses in it as separate LLC or corporation. This option is normally adopted by an established business when it starts a new business by funding it. But in this scenario legal and taxation paperwork becomes more complex.

Structure of multiple businesses on marketing perspective

While structuring multiple businesses online from marketing perspective you can start it in two ways.

If two businesses appeal and relevant for the same customer like opening a wine shop along with a restaurant can relevantly appeal to the same customer, then both the businesses can share the same brand name.

On the other hand, while structuring multiple businesses by including different types of businesses like in case of becoming copyright editor along with a caterer, then you will have to use different brand and business names as well as websites for each business.

So before starting a multiple business you should consult with a taxation advisor to find the best business structure you.

Applying for a new EIN

A new EIN or Employers Identification Number is required by businesses when there is a change in their structure or ownership but not in case of change of name of the business.

Every type of business whether it is a sole proprietorship, partnership or a corporation has to apply for new EIN whenever any person enters into or leaves the business structure. But in case of LLC you need not apply for new EIN as each entity participating in it is considered as disregarded entity.

Thus after considering the information provided in this write-up one can easily structure an online proprietorship, partnership, corporation or LLC business and file application for new EIN as per its requirements.