Not Knowing Where To Start In Building Your Online Business?

Have you been trying to figure out from where to begin, when it comes to building an online business? Or perhaps the question should be, “How to organize your activities to get a successful business running off the ground?” Fortunately, I am going to show you the things you need in order to have a successful online business. More specifically, you’ll learn how to organize those activities to bring the most out of your efforts.

If you feel overwhelmed with tons of information, stressed out, and aimless, in this article, I am going to show you a way out.

 

Choosing Your Business Model

When it comes to building an online business, you need to choose one or a combination of business models in order to make it work. I am going to show you briefly the type of business models you can get involved in, and you’ll get to decide which one is right for you. However, I am going to outline the fastest business model when it comes to building a business on the Internet.

  • Affiliate Marketing – this is when you promote other people’s products and services. It’s useful if you sell information products or non-professional advice (dating, making money online, time management, etc.). This is the fastest way to get started when it comes to generating income online.
  • Blogging – This is when you are having a free blog or a hosted blog on your website, and you post content regularly. You can monetize the blog by adding Adsense ads and affiliate links. However, blogs are known as delivering high-quality content for free. You do not want to put bunch of affiliate links and promotions, but the idea is to provide a lot of value to your visitors FIRST, before asking anything in return. Moreover, you can get other people to write content for you (guest posting) in order to increase your effectiveness. Blogging is not just about writing content, but marketing. You have to write content that stands out, and draws people in.
  • Amazon Kindle – for this option, you do not need to have a website. However, you need to write, or have other people write for you, e-books and paid reports where you can publish them on Amazon Kindle, and getting paid for it. There are people like Ty Cohen, who makes over $30,000.00 per month from Amazon alone by creating e-books and selling them in the Amazon’s network.
  • Email Marketing – this is one of the best business models out there, but it takes time, and sometime resources, to make it work. Email marketing can be combined with any other business model by enhancing your ability to generate income online. Basically, you build a loyal subscriber base where you can follow-up with them by sending great content, news, updates and promotions. That’s how you make the money on the back end by recommending and selling things.
  • Video Marketing – this business model is great for selling products and services online. It’s engaging, fun and preferable way of consuming information by most people. We are used to a lot of TV, movies, and when YouTube came along in 2005, it changed the accessibility for creating videos like never before. Today, you do not need an expensive camera to make a video production. It’s easy and affordable, and by the way, video sells MORE than anything else.
  • Article Marketing – back in the days article marketing was more effective, but you can still use it at your advantage. This is when you write articles and submitting them to various directories to build more backlinks to your website in order to increase your ranking. I personally do not find much value in it, but if you submit articles daily, it can pay off in just couple of months.
  • Pay Per Click Advertising (PPC) – this is almost an instant business model that can either generate fast income for you, if you know what you are doing, or lose a lot of money in a short period of time. You simply pay Google for sending you traffic. Most marketers use PPC to test things out in order to improve their websites. Since having traffic is like the blood in the vein for your business, some marketers invest a little bit of money to send traffic to specific promotions and make more on the back end.
  • Product Lunch Model – this is a model, developed by Jeff Walker. Simply, you are creating anticipation on the market by releasing sequence of videos to create the buying vibe for a new product or service. However, this model requires you to have a solid subscriber base (or an audience) in order to make it happen. Jeff explains that you do not need a big list, as long as you have partners who send you the traffic.
  • JV Partnerships – to me this is THE BEST way to take your business to the next level. You simply build relationships with people who are within your niche market, or affiliates who are promoting your competitors to make money online. They can send you traffic to your products/services and make a commission based on certain agreements. Even though it’s the best method to at least double or even triple your online business, it might be time consuming. Building trust takes time. These partners have to trust you enough to send you traffic from their list, because there’s a certain risk involved.
  • Outsourcing – this is when you hire other people to do the work for you. You have to be open-minded and have some skills to get along with other people. As a business owner, you can’t do it all yourself. There are too many details that count. That’s why you need other people to support and build your business over time. Outsourcing is the skill of all Internet marketing, regardless of what type of business you are in. 
  • Podcast Marketing – this is when you submit audio files to iTunes and make money when someone subscribes to your podcast channel. You can host the audio files on a WordPress blog, or have some other hosting services to host your audio files.

There are other business models out there, but those are some of the major ones that you can take advantage of today in order to get some perspective on what’s possible when it comes to making a living online.

 

From Where To Start?

1) Market Research – you need to know what people are looking for. You can do this by visiting Google’s Keyword Tool. There are some other tools like Market Samurai and Micro Niche Finder, but they aren’t free. You simple find what people are looking, and your job is to give it to them.

2) Customer & Business Avatars – you need to know your ideal prospect, because you can’t just address everyone. You have to know your customer’s demographics, fears and frustrations. Then you can use this information to create the marketing within your business model.

Business avatars are your products that match the customer avatar. You simply create characters that have to meet. Your business avatar holds the solution to fulfill the customer avatar’s need. When they meet, there should be a harmony between both.

Ideally, you may want to create 3 or 4 customer avatars that describe your ideal prospect.

3) Your Story – what sets you apart from your competitors? Your story brings uniqueness to the products/services you are offering. You are creating a character and style to what you are offering, and that’ s key. All artists in the show business are creating and selling certain characters and attitudes. You can do this too through your own voice and personality.

4) Identify the Features and the Benefits – you need to know the difference between a feature and a benefit. Most people focus on features. That’s why they fail with their message. Benefits are the things you want to emphasize on.

A feature describes the thing you are promoting: a book, a DVD, the product itself is a feature. The benefit, on the other hand, shows what the feature will do for the customer. What this product will do for you?

What I’ve learned from Joe Sugarman, there’s a hidden benefit. A benefit within the benefit.

Example: this car can move you faster than any other car (benefit). When you drive faster everybody would be staring at you (hidden benefit). 

5) Develop Powerful Headlines – whatever business model you are using, you need to “capture the attention” of your visitors. Everybody is busy, and there’s so much going on around us. It is often difficult to filter out the unnecessary information that’s surrounding us. You need to master the art of headlines, because that’s the CORE of marketing.

6) Sales Funnels – think of a sales funnel as a train that moves the prospect from one station to another. This is how you build a relationship with that prospect, because you move them along a path in order to IMPROVE something in their lives – or whatever your product/service is offering. Sales funnels are at the core of the Product Lunch Model I’ve mentioned earlier. They are not only building anticipation and a vibe, but also they filter out the people who are not good candidates for your product.

What helps somebody, it may hurt someone else. If your product is a solution to someone, it may be an obstacle for somebody else. Sales funnels make sure you deal with the right people, increasing conversion rates.

7) Reverse The Risk – what keeps people from improving their lives is risk. Often, people do not act based on their best interest as a result of fear and doubts. The fear of the unknown, or the uncertainty, keeps people from taking action. Everybody wants to stay and be comfortable, but that’s the danger zone. When you reverse the risk for your prospective customers, you are more likely to move into your direction.

8.) What’s Next? – tell what people have to do NEXT at the end of every message. They can either find more information on what you are talking about at the end of your message (a video, an article, an audio podcast, whatever). You need to inform people what’s next through your funnel. What’s the next stop of the train?

Hopefully, you have certain understanding of what you have to do in order to get your business running. There’s no way I could go over each point and explore everything in this short article. That’s why if you want to learn how to improve your time management skills and personal productivity, subscribe to my email newsletter.

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1 Comment

  1. Brandi Lynn

    Super excited to see more of this kind of stuff online.

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