People usually fear and worry to start an online business because they have zero experience in this expertise.
The thing is, you can start to fight for your own dreams as an entrepreneur and be your own boss if you put a positive mind-set and seek guidance as your starter pack.
Everything you need to know about running an online business in Malaysia is here.
We will cover the first step to start, the requirements, products to sell and more. You will also learn some actionable tips to propel your online business ahead.
Let’s dive right in.
Frankly, when comes to starting an online business in Malaysia, you only require a low budget.
However, it will take more effort and time when comes to maintenance parts, later on.
The best thing about online business is that you don’t even have to quit your full-time job.
You may start your business as a home-based job or a part-time job with a low budget.
You don’t even require to own a physical store to start a business either.
All you need is an internet connection to sell your business services or products.
What are you waiting for? Grab your pen and book; it is time to start building your own empire!
1) Determine Your Product and Business Nature
Firstly, determine what type of product and nature you are focusing on. It merely can be physical products or digital products or both of them.
Physical products: merchandise, apparel and other physical goods, like phone accessories, through an e-commerce website.
Digital products: eBooks, software, video, audio & music, photography, graphics & digital arts and documents, through a promotional landing page.
Service products: you may use your drawing or photography skill, through your portfolio website.
Most importantly, you have to decide your goals and have a clear mindset to start an online business in Malaysia.
2) Register Your Company Name and Business With SSM
Go get yourself register your business under Suruhanjaya Syarikat Malaysia (SSM) right away.
This is one of the alternatives to prove you are starting a legal and valid online business in Malaysia.
Ensure you write the correct description or category that is related to your business on the SSM registration form.
If not, you might encounter another problem when you are applying for a payment gateway later on.
However, you simply can broaden your field, by not only stick on one.
For example, if you sell a smartphone, you may put the product under the “Mobiles & Accessories” category.
Make sure you are aware of what type of business you are going to proceed to operate in Malaysia. Quick example; Sole proprietor, Partnership, Company.
i) Sole Proprietor
Business liability: personal
You run and manage this business alone.
You may choose to register the business under your name for RM30 per year, or a trading name for RM60 per year.
Partnership registration: RM60 per year.
Business liability: All partners are bound to them.
You run the business together with one or more partners.
Side note: If one of your partners decide to quit in the future, the business will be abolished. If you wish to continue the business, you are required to register a new one.
If you are seeking a separate entity, this is one for you.
Side note: The registration fees and application on company business is complicated than Sole Proprietor and Partnership.
If you need more details on guidance on how to register a business in Malaysia, you may get in touch and kindly seek help from an SSM officer.
3) Build a Website; Get Hosting, Domain Name and Email Addresses
Next, you can start your online business by getting a domain name for your company and create special business email addresses.
i) Domain Name
A custom web address that every website should have.
If you successfully registered business in Malaysia, you will receive a registration number or ID.
Thus, you may add .com.my domain in your web address and it will look more localized, relevant and credible
Example domain name: brilliant.com.my
A disk space where you ‘rent’ them on the Internet to store your files – web design text, images, videos, all files.
Here, you may obtain your domain name, hosting and email address from a Web Hosting Company such as Exabytes Malaysia, sign up for any shared hosting package and you are done.
iii) Business Email Address
According to consumers, company-branded email is more credible than a free email account for business. The business email address such as @yourdomain.com helps established company to build more trust and credibility.
4) Design Your Website Like How You Dressing Up Yourself
After you are done with hosting and domain name, time to design your website and add your content to your website.
There is an existing built-in-Web Builder with hosting plans, which is easy to use.
Also, note that the design of the website is important, as the design quality affected the results on the Search Engine Result Page (SERP).
But, you may outsource the design and development work to and experienced web design company or freelancers.
If you refuse to open your own website, you may sell your items and services on Facebook, lelong.com.my, eBay Malaysia and Amazon.
As for content, make sure to keep it simple and straightforward, not instil the irrelevant information in your website.
This will ensure you provide excellent content for your customers and encourage Google to help you feature your website on the first page.
Nevertheless, try to avoid using many heavy-duty images or it will slow down your website loading speed.
You should optimize your web page loading speed as much as possible, or web visitors will abandon your website due to slow loading pages.
5) Advertising and Promotions
It is normal for someone new to online business to not getting sales and receive no visitors at all. It would take time for your website to be crawled and displays in the search engine results, such as Google and Bing.
Hence, you would be advised to start to advertise and promote your website by promoting your products and services. It is the same method as any traditional offline business.
It is as easy as ABC, but you need to double your efforts by advertising your business through digital methods such as Facebook advertising, Google Ads, email marketing, social media, blogging, guest posting and many more.
You may choose one or two from the methods, whichever works best for your business.
If you have extra budgets, you may seek out offline advertisements such as newspapers, magazines, television and radio advertising.
Do I Need To Register For Online Business Malaysia?
It stirred up the online business community and created more confusion about whether the entrepreneur should register their business when they do it part-time only.
“Do I need to register?”
Yes, especially if your business is related to the telecommunication industry, for example, selling SMS services or networking services.
On a side note, you need to register all kinds of online business that helps to generate your income.
The registration fee depends on your business categories, but do not worry, it is absolutely a simple registering process.
The best part is you can gain other benefits such as access to microloans and insurance coverage.
Do I Need A License To Start An Online Business?
More than 400 online were punished for not registering under SSM in 2010.
It is punishable under the Registration of Business Act if a business fails to comply. The maximum fine is RM50, 000 or up to 2 years in jail.
Nevertheless, all online business needs to comply with the Malaysian Consumer Protection Regulations 2012, which include businesses such as selling products through social networking sites – Facebook and Instagram.
To start an online business, you require to register with MCMC (Malaysian Communications and Multimedia Commission) if it is related to the telecommunication sector.
Besides, you need to register with CCM (Companies Commission of Malaysia) as a business enterprise, no matter what.
For these, people are highly suggested by CCM to register as a sole proprietor, which is the cheapest form of registering a business.
By this, the regulations and specific requirements are in place to give protection to the buyers from any possibility of fraud, but at the same time, it does not mean the consumer is fully protected either.
What Kind Of Online Business Is The Most Profitable?
Firstly, you should put a good mindset that there are many ways to make money online.
There are a bunch of legitimate ways to start a profitable online business and tons of opportunities for you.
“I want to start an online business but what business gives me more money?”
Beforehand, the most crucial step before starting a profitable online business is finding a business idea that matches your skills and strengths.
We even have compiled a series of profitable need-based businesses with affordable start-up costs for you to start immediately later on.
Now, let’s go through on list which a profitable online business that is suitable for you to start on:
Selling on Facebook: Using Live Video
Start an e-Commerce store
Sell products on the online marketplace
Online multi-level marketing referral program
Online drop shipping business
Be a writer and sell eBooks
Publish and sell online courses
Social media content writer
Build an online forum
Be a YouTuber
However, once you figure out the business that suits you the best to run, you should start to choose your niche within that industry.
A good niche related to doing things on the budget as you are marketing to people who are trying to save money instead.
There are plenty of niches out there, but a few examples of niches would be:
By choosing the correct niche, it allows you to:
Resonate With Audience
Develop a Detailed Marketing Plan
Form an Identity
However, do not forget to build your sales funnel!
Sales funnels open a great path for you letting people follow and find out about you or your brand before they finally purchase from you.
To make it clear, the sales funnel is going to look something like this:
You run a Facebook ad
People click your ad to a landing page with a free report.
You email them your free report and then offer them an eBook for $15 a week or two weeks later.
They become interested; they buy the book from you. Afterward, you offer them a course too.
They buy the course and you offer them a live event of consulting.
See, sales funnel is not that difficult nor complicated.
In conclusion, making money online is not rocket science and can be a mysterious skill to most people.
All you need to do is to put extra effort and hustle until you succeed.
On the other hand, try to boost your chances of success with market strategy, arouse them with copywriting, grab their attention with business web design, and great advertising strategy using digital marketing.
Overall, it is a proven sequence of steps to starting an online business.
In addition, the principles of how to start and grow a successful online business haven’t changed at all and always back to basics.
Now you are starting to do good with your start-up business, but how about the delivery services for the parcels? Do you have any courier services in your mind?
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Wekago is a one-stop, web-based shipping solution provider.
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