Start An Online Business – Top Tips
You’ve made that all important decision to start your online business. We want you to achieve the absolute best out of your time online so here are our top tips to help you achieve the success you deserve.
Treat the internet like a business from day one
It’s not a hobby. It’s not a job. It’s a business you invest your time, money, and energy into with an expectation of a return on that investment. This means you go into your online business with your eyes wide open and plan to make money and be profitable.
Have a daily and weekly plan
Keep it simple. You have a plan of what you want to accomplish and daily actions to reach those goals. Each day have at least one priority activity that will move your business forward. Finish it first before starting anything else!
Choose one market and focus on it
It’s not easy for experienced marketers to manage several different markets at once. A beginner starting out should concentrate on one core market and apply their full attention to growing an income there first. Then as they say “rinse and repeat” in other markets.
Research your market
We are always surprised how little research people do before they go into a market (often referred to as a niche). They often don’t even know the most profitable competition. Spend at least several days minimum in online research before entering a market you plan to make a living from. Find one where plenty of people are already looking and ready to buy.
We work in the marketplace of online business coaching and training and its huge.
Develop an irresistible offer
The purpose of the first sale is to generate a customer. Make an offer that produces a high conversion even if it doesn’t generate the profits you want. Backend sales are where the profits come from.
Establish multiple streams of income
This is absolutely key. Income from high ticket products and services, ebooks, affiliate products, consulting/coaching/mentoring, etc. Find additional products and services to offer to your current customers.
Concentrate on building a list of subscribers and customers
Build your list and your relationship with that list. This is the greatest asset in your online buiness. It’s no secret. Serve your customers and stay in touch with them consistently. We use Aweber for maintaining our list because it is great value and reliable.
Become an expert in at least one traffic strategy
If you do SEO for example then become an expert at it. Maybe it’s Facebook advertising or banner advertising – become an expert at it. Master one traffic method instead of trying to become ‘a jack of all trades and a master of none‘. Once you have done that add one more method to your marketing mix as it is always dangerous to rely on just one.
Create a recurring revenue model
Add continuity income to your business. It could be a membership site of your own or an affiliate program you promote. This provides a stable income for you and a foundational level you start each month with.
Limit your time in email and social media
Both email and social media have the ability to suck hours from your day if you’re continually checking them. Have a specific time slot where you check your email and participate in social media. Don’t leave them open – it’s just too tempting!
Know your numbers
Statistics are absolutely key to your online business just as they are to any business. You need to know at any time how many sales you have made, what are your subscriber conversions, how many people take your upsell. Knowing these numbers will drive your business forward.
Keep a notebook or journal
Write stories you come across. Make notes on new business ideas. Write down results from your advertising. Keep a journal of your business results to refer back to. Write down your successes. (You can use some of this information to write a book if you are so inclined)
Network with successful people
Network with other successful entrepreneurs. Turn off the news media and tune out the complainers who surround you. Find people who are upbeat, moving forward, and accomplishing what you want to do. Think about how you can offer value to someone you admire in your marketplace and offer to do stuff for them …. it will give you huge leverage and credibility in the future. It’s important to maintain real human interaction by meeting people face to face as well as online.
Watch your expenses
We started our business on a small budget and made sure that we re-invested some of our sales income straight back into our marketing so that we could continue to grow our business. Think about what services you could offer to people to earn some money to put into your marketing when you are just getting started – maybe you are great a graphics or writing as an example.
Be willing to invest when required
Keeping a close eye on your expenditure is essential but make sure you are willing to invest when required. Outsourcing can be very valuable to your business especially when you can use a resource like Fiverr where for what we call your $5 per hour work. It’s worth it to outsource your $5 an hour work.
Fail every week (to begin with)
If you’re not failing, you’re not testing enough new things. If we had not failed many times with our activities then we could not pass on our experience to our students. All successful people fail. Thomas Edison inventor of the light bulb failed hundreds of time before he succeeded. If he had given up just imagine what the world would be like today!
Have a system you follow each week for planning. Have a system for writing your emails and blog posts. Have a system of generating traffic. Have a system for how you participate on Facebook. Follow those systems and continually improve them to be more efficient. Systems make your business rock.
Implement what you learn
You don’t earn money based on how much you know. You only profit from information you implement. Make sure you take consistent and persistent action. If you read a blog post that is valuable to you for instance then take action on it. That may even be writing a blog post of your own commenting on that information.
Celebrate Who You Are
Be proud of who you are and your brand and integrity. You won’t appeal to everyone so don’t try. Attract the audience which likes you for who you are. Stand out from the crowd.
If there are ‘jobs’ in your business you don’t enjoy then find a way to quickly outsource that to someone else. You have to have fun – being in business for yourself is about having fun. The Internet Lifestyle is about living a life you truly love and enjoy.
The great thing is that you can start an online business and have all the technology and marketing training and products to sell all in one place. It ticks all the boxes and is a great place to start.
You can check it out here for just $20 – we love it and we’re sure you will too.
Would you like simple step-by-step instructions to boost your traffic, increase your conversion rates, and take more time off? Just ask us how!
Please make sure to share your success story with us by leaving a comment and we’ll choose the best story this week to feature on our blog and share with our community.