Step 2: How To Build An Effective Online Business
Today you are going to learn “How to build an online business”
7 Steps to Build an Online Business
There are seven steps to build an online business
Step 1: Where You Are
We mostly look at things either worst than it is or better than it is. We need to learn to look at things as real as it is.
Who you are is part of where you are as a person. You need to look at your strengths instead of looking at your weaknesses. When you want to start a business you need to look at what service you can provide to others so you need to look at all the strengths first and then when you are running the business then you can learn or delegate the areas you have as weakness.
In Online Business, look at your interests, passion to decide on the niche you want to get in.
When you start your business you need to put in work day in day out, so it better be something of your interest.
Step 2: Know Where You Want To Go
This is very important you MUST know where you want to go.
Let’s say, if you want to go to next street – You can walk or take your bike
What if you want to go to next city – you can go on your bike or car
What if you want to go to another state – you can take your car or you can take a flight
What if you want to go to another country that is halfway around the world – You must take a flight
So it is critical that you know where you want to go.
What is your monthly income goal with your online business?
Step 3: Identify the quickest way to get there
Choose Your Vehicle to go from where you are to where you want to go. When you try to find route on Google map you automatically use this principle but when it comes to business or life we tend to forget this and try to follow the crowd blindly.
“The only place the crowd can take you is the exit” – Anonymous. So follow the crowd only when you are in a movie hall or stadium or something like that where you only need to exit from that place.
In life or business, look at you and where you want to go and you find the quickest way to get there. If you want to go from LA to NYC you can take a bus, car or flight you know which takes you the quickest to your destination. That is why it is so important you know where you want to go.
In Online business the quickest way to profit is “sell other people’s product”
Step 4: Product
This is the fuel. Choose the destination (make x amount), Choose the Vehicle (online business) and Choose the Fuel (your product or other people’s product)
Let’s say you want to make $1000 per month. You can sell a $10 product to 100 people or you can sell $100 product to 10 people
Step 5: System
This is the map to get from where you are to where you want to go. If you don’t have a system in place the chances of you getting lost along the way is very high or it might take forever to get to your destination. Choose your map wisely.
MAP can also mean Massive Action Plan if you want to reach your destination in the quickest way possible you definitely need a map. In Online business it is complicated because there are just too many ways to get to your destination. So you need to be very careful in finding your map. That is the reason I call the map, as step-by-step process with a system to implement those steps is the best.
Step 6: Target Traffic
This is one of the most critical step in this whole journey, because these are the customers who are going to pay for your journey, so you need to identify who they are, what are their challenges and how your product can solve their problems.
No matter how good your marketing is you can’t sell a ticket to Singapore if that person wants to go to America. So find the right audience for your product or service and you provide value by providing the right knowledge, tools and recommending the right products.
Step 7: Scale, Leverage, Automate
If you are a local school teacher you are impacting about 100 kids in your school, if you are a teacher on YouTube you can impact the kids from around the world. So it is the number of people you impact determines how much you are totally worth. So in order to scale, leverage and automate you need to understand the online business is the level-playing platform for anyone who wants to start from wherever they are and reach to the entire world.
Remember the only person who can fail you? Is YOU