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How To Create A Successful Online Business? Business | Executive Coach
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I've answered similar types of questions. I am going to be specific with my answers on this one. This is how to create a successful online business. If you are starting, how do you create it? By having a clear understanding of what you want to deliver. And then talking to people who might want it. And getting and an upfront commitment. To put their money where their mouth is. By proving if they are willing to pay for it.
I have a 7-step rollout method. This is a combination of checklists I've come up with and seen over the years. 1 by Gary Halbert, it gave me the initial outline for this.
The 7 Steps: 1. Always find a hot market Start with the market first. 2. Find or Create a Product or Service. This means, you should have a starving crowd. A group of people who have the problem you will solve.
Gary Bencivenga said, "The problem is the market, not the demographics." It means there are different people willing to pay to solve the same problem. There are different types of people who experience the same problem. This is where you get your demographics. And target markets. It's all focused on the problem. Like an ecosystem around a watering hole. Watch the water, not the birds.
So you have to start with a market first. And a problem. Then you work backward to the product to deliver the solution to them.
1. Find a hot market. 2. Find or Create a product or service to sell. 3. Write a promotion describing it and its benefits.
If you've watched my other videos. I talk about: The 5 things you need for an online business. Which are: 1. Ads. 2. Opt-in form or lead forms. [collect contact info] 3. Sales letter describing the product/service and its benefits. 4. Order form to collect money. 5. Auto-responder which is email follow-up. For non-buyers. Phone team too.
7 Steps 1: Find a hot market. 2. find or create a product or service to sell. 3. Write a promotion describing it and its benefits. 4. Run a test. This means you have to put it in front of people. I was shy about this in the beginning. But you need to sacrifice leads. You can sit alone in your house for many years. Thinking, hoping, and wishing people will love it. Until you put it in their hands and get REAL feedback from REAL people... You don't know.
So depending on what marketing strategy you use. For online, get around a 1,000 - 5,000 web visitors. To see your offer. We are talking about an online business here. You want to try to get a few hundred. At minimum. People who see your offer. If you can't get enough volume of traffic. Then it's the problem you need to solve. Think about this: You can't hope everyone who visits becomes your customer. So you have to be able to get enough traffic, attention, and interest. You start with a big group. Like 1,000. Then you get a small group of 100 who show interest. And then a small group of 30 who do a trial. And then a smaller group of 10 buyers.
1. Find a hot market. - problem. 100-5000 people dealing what a problem. 2. Find or Create a product/service. 3. Create a promotion describing it and its benefits. 3. Run a test. 4. Get a few hundred or a few thousand visitors 5. Analyze results. 6. If the results are good, get another 20,000+ visitors. 7. If the results are good, Keep rolling it out and take care of your business.
How to create a successful online business? Starting from the beginning. Want to have an online business? This is what I would recommend. 1. Get clear on the problem you solve. Find out what types of people are experiencing this problem. Pick the type of person having the problem you want to help solve it.
There are a lot of housing problems. If I want to, I could help a homeless person. I might do it to make a better world. But would they be able to help pay for it? Then, if I have someone who is affluent. Offer to help them find a home? It's the same problem. Both need housing but have a different ability to pay. They have different price points. A lot of different things going on. But the problem is the market. That is it.
1. Find a Hot Market [Find a Problem] 2. Find or Create a Product/Service. 3. Create a Promotion describing it & its benefits. 4. Run a test. 6. Analyze the results. 7. Get more people.
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