While the pandemic has had a negative impact on many businesses, online companies have been thriving. Now could be the perfect time to start an online business. Of course, starting any business isn’t easy and there are lots of things that can go wrong if you’re not careful. Here are just a few mistakes to avoid when starting an online business.
Underestimating the costs
Starting an online business is a lot cheaper than starting a brick-and-mortar business. That said, there are still many costs to consider including website design, software subscriptions, shipping outsourcing (if you’re starting an ecommerce business), inventory, payment processing and digital marketing. Make sure to create a detailed budget of all these costs so that you know exactly how much money you need