The Secret To Running A Successful Online Business –
What They Don't Teach In Schools
So you want to know the real Truth about running a successful online business.
Well, you are in luck today because in this short article I am going to reveal it all right here and right now.
If you have been following my recent posts, you would already know that I know about a thing or two about delicious business ideas and strategies.
But what makes the difference is not what business you are running, but HOW that business is started and run.
The secret to running a profitable online business actually lies in a SIMPLE 3-STEP STRATEGY that 90% of businesses fail to do.
This strategy is like the legs of a 3 legged stool, and once even one of them is missing, the stool is going to fall down, so play close attention to each of them.
So without further ado, let’s take these elements one by one.
Step 1: A Valuable Product Or Service That People Want
The truth is that, for somebody to make money, somebody else has to give it to them; and furthermore, somebody has to give them that money WILLINGLY.
Pay attention to that willingly part.
Companies like MTN, GLO, 9mobile and the rest make money because people give it to them whenever they buy credit or data.
And people willingly give them that money because they are getting something that they want in exchange for it.
That valuable thing might be a PRODUCT, SERVICE, or a SKILL. Something that helps them live an easier life, or that helps them solve a problem.
You see the kind of businesses that make consistent profit, and money are businesses that provide valuable services, products and skills to people.
I’ll give you some examples of these businesses below.
Things like Freelancing sites, E-commerce stores, Real estate Companies, Record Labels etc are all profitable businesses that make money by SELLING VALUABLE products, skills and services to people.
But a valuable product is not enough on its own, because you still need the other 2 elements for everything to work.
Step 2: A Way To Find More Customers
Now lets say that you have an excellent product or service that you can offer; one that you are sure that people will rush once they know about it…
What do you do next?
You have to put your stuff out there for people to see, because if nobody knows about the product or services you are offering, then it is as good as not having anything at all.
A business with an excellent product that nobody knows about is like a man winking at a girl in the dark; you know what you are doing, but nobody else does.
So it makes sense that any business with an awesome product will also need to find a way to find customers who can give pay money in exchange for what they are selling.
This is called MARKETING, and it is another thing that 90% of businesses do wrong.
MARKETING is a huge concept on its own that deserves its own post, but we won’t go into too much detail on it here.
Nowadays in age of technology, the best place to find customers to patronize your business is online and on websites and social media platforms where people gather e.g Instagram, Twitter, Blogs etc.
Element 3: Rinse and Repeat, then Rinse and Repeat some more
As long as a business has something valuable to sell, and it has a lot of customers who are patronizing them, then it is only a matter of repeating the same process and doing more of what is working until the business grows bigger and bigger.
A customer that has bought from you before will buy from you again, and as long as you can keep giving them new and improved valuable stuff to buy, then you will have that customer and keep profiting from them forever.
Think about companies like Apple and Samsung that have customers they have been selling to for years.
So to wrap up, my story for today, the secret to running a successful business whether online or offline (online is better) is to have a valuable product or service to offer that people want.
Once you have that, you can’t just keep that product or service to yourself. You have to show it to the world and find customers who will pay for it.
And once you can do those first two things then keep doing them. Don’t stop. Keep growing and expanding until you build a huge business with a large number of customers.
Now I should end this post here, but I still want to address an important issue that one of my subscribers asked me recently and…
I also want to give you some examples of good business ideas you can try out right now.
“What if you don’t have the capital or expertise to start creating or selling products?
If your perfect business idea is too tasking to start right now?”
Does that mean you can’t have your own share of the internet wealth or start profiting from the internet? What can you do then?
Not everybody can start up the next Jumia, or Samsung, or Amazon, but that doesn’t mean that you can run a profitable business.
And if that is the situation, then the best advice I can give you is to stop focusing on trying to start a big business and instead start focusing on yourself.
Hold on let me explain.
Instead of trying to start a business, with fancy products, you can try making YOURSELF the valuable thing you are selling.
The secret to doing this is that you have to be somebody with a Valuable Talent or Skill or Influence.
Think about it this way.
What can you offer, what value can you provide, what skills do you have that can help people solve their problems?
For example, any famous celebrity that does an advert and gets paid big money for it; is actually selling his or her influence.
If a the sports company wants to use Christiano Ronaldo, or Messi to promote some of their products like a Football boot, or fitness equipment, they will have to pay them to do so.
And that is because Messi and Ronaldo are valuable, influential people.
The sports company knows that a lot of people will buy their stuff simply because Messi or Ronaldo is also using it,
People with lots of followers on instagram, youtube or twitter can also fall into this category because they have influence with their followers.
So you can try building up a following on social media and selling your influence.
Another example of a business that focuses on YOU as the product is Freelancing.
With freelancing you sell whatever skills or talents you have, provided that it can be used to create value or solve a problem for people.
For example if you have a good voice, you can help people record songs or speak on their videos so that the content sounds nice.
A lot of businesses look for people like these all the time.
Or if you are a writer you can help business write content for their websites or books. Writing is stressful to be honest, and I would gladly pay somebody to help me do some writing for me.
Graphics design is also there, and so is coding and website design.
These are skills you can focus on developing so that you can have something to sell.
And like any profitable business, it still follows the idea of having something valuable to sell, finding customers who will pay for it, and then doing more of step 1 and 2 until you reach your desired level of cash flow.
Anyway that wraps everything up.
I hope you were able to learn something from this article. If you did, feel free to share, or let me know what you think in the comments section. I’d love to hear from you.
Till you reach the top.