The great thing about going into business for yourself is you can forget the economy or the ceiling on salaries in your industry. 24/7 there is money to be made by using your know-how to help others get where they are going, so stop stressing and get started!
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- The first thing you want to see when exploring your business idea is competition. Lots of competition in your market is a great sign. No competition means you need to rethink your market or offer.
- To borrow a phrase from Nick Loper’s book of the same name: You need a buy button. Being in business means you are selling something — either your own product or someone else’s. On your own site or someone else’s. You’d be surprised at people who say they’re “in business” but have never sold anything nor do they have anything to sell. Like a “writer” who doesn’t write!
- The core of a knowledge-business is you. When you first get started, start with what you know and match it with the most urgent needs of your ideal audience. Use your best guess to create content and basic products and welcome emails BEFORE you have a list.
- The secret to productivity is to make a list of the 3 things you MUST get done today. Then do them.
- The second secret to productivity is to do the toughest thing you need to do first thing in the morning. Whatever it is, i.e. making a phone call you dread, finishing the research for your product – get it done first. Then the rest of the day is easier by comparison.
- Build a customer list as soon as possible. As your list and business grow, you will build products WITH your customers.
- Don’t worry about pricing when first starting out. You want to turn window shoppers into buyers as soon as possible. If this means selling them a $10 manual, then do it. Eventually, you can turn that book in a course with worksheets and audio or video, a mastermind where a group of your customers is going through the course together and getting support from each other and feedback from you. Short of one on one working with you to hand hold them from start to finish, your customers will always need more support, additional products, and resources.
- Eventually, you can upsell your customers by turning that manual into a course with tutorials, worksheets, and audio or video. Or you could create a mastermind where a group of your customers go through the course together and getting support from each other and feedback from you. Short of one on one working with you to hand hold them from start to finish (which is coaching, for which you should charge a lot in exchange for your time) your customers will always need more support, additional products, and resources to help them solve their problems and reach their goals.
- Make it brain dead simple for your audience to sign up and buy from you. The harder it is to buy from you, the fewer customers you will have.
- Make your business profitable as soon as you can by implementing tracking systems. Where is your site traffic coming from? What pages do they visit? What is the conversion rate on your opt-in and sales pages? What’s the conversion on traffic you pay for? When you know your numbers, you can really start to see your business income take off.
- Instead of chasing shiny objects and wasting money on the next new thing, follow the tips above to start your online business Then, make smart investments that are worth it because they help your specific business model.
- Hiring a coach that shows you exactly what you need to know is smart, throwing a few thousand blindly at Facebook ads is dumb. The right software that can automate a part of your business that takes too much of your time is smart. Buying another $47 “software” that is going to “instantly make tens of thousands on autopilot” (when it’s a video editor and you don’t use video) is dumb.
- It is okay to make mistakes. Failing comes with the territory when you are trying new things. Feeling fear or feeling stupid is just the self-protective mechanisms in your brain at work, but they are not real things. The main thing is to learn from your mistakes and keep moving forward. The only people who don’t fail are those who don’t take action, and you never want to be one of those.
- While promises of the ultimate easy or instant button have made marketers lots of money, the truth is doing something worthwhile is not always easy or fun. Building your online business means sometimes you have to do things you don’t like. The trick is to suck it up and do it – or find someone to outsource it to. It’s like going on a road trip. Often there are stretches of road that are no fun to drive but it’s the destination where you are headed that keeps you going.
- That said, automate as much as you possibly can in your business. The more you automatic and delegate, the more time you have to be strategic (work on your business) rather than reactive (working in your business).
- Positive self-talk and goal visualization is key. You want to imagine the joy in your life when your ideal business is profitable and you have the lifestyle you want. You want to think about why you are starting a business in the first place. Reflect on those goals and your why every day, throughout the day. Lose the negativity.
- Two things make a business — your customer/lead list and the systems you implement that consistently bring in sales. Don’t treat your business like a hobby. Make a work schedule and stick to it. Create goals and timetables and stick to them. Do what you plan to do every day. This is your financial future!
- This is so important: Celebrate any and all of your successes, from tiny to big by treating yourself.
Bonus tip: This is so important: Celebrate any and all of your successes, from tiny to big by treating yourself.
I hope this list is helpful as you think about getting started in online marketing or building your side business. If you want a step by step guide of how to go from idea to business, grab out free guide below on using your passions and skills to create abundant cash flow!