How To Prioritize And Identify What You Value Within Your Online BusinessPosted by Chris Diamond | 2 comments
Prioritization is one of the most important skills in order to get more organized and get a substantial value out of your projects.
If you do not organize your project, fitting different pieces together, nothing is going to work.
As business owners, we have a lot of details related to our websites: getting traffic, customer support, building a website, crafting your offer, creating products, marketing, managing people, partnerships, book keeping, etc.
How do you know which one is your priority so that you can get the maximum value out of your time?
Clearly, they are all a necessary part of a project, but where to spend most of your time?
Now, the question is, “Why is prioritizing your tasks important when it comes to building an online business?”
When you have priorities in place, you know exactly what to focus on. Most people find everything to be of a priority. They put an equal amount of effort to every single activity within the entire project.
That’s one of the reasons why nothing gets done, because there’s not enough time in a day, especially if we focus on low priority tasks.
Often, we prefer to do the insignificant stuff first. That’s another mistake. Ones you know your priorities, you want to execute them first.
Nothing moves things forward than completing a major task within your project.
Here are the key areas within your business:
1) Building presence – building a website, creating content for that website and establishing the purpose of your website.
Some folks do business online without having a website, known as affiliate marketing. They just create a free blog account, or free website account in Google, or any other service and ready to promote.
The best way to have more control over the interaction is through having a website. You need a host and a domain name.
It all depends on the purpose of creating that website that’s going to give you an idea on what to focus on the most.
There are different models out there when it comes to building a website for your business, such as blogging, only landing pages, forum, video blog, etc.
2) Creating a product – depending on what you are trying to achieve, creating a product is one of the most profitable things you can do, in order to boost your online business to the next level.
Most people do not even need a product, since other people have already created them.
If you are planning to start as an affiliate marketer, then you do not need to have your own product, but you need to be sure the products you are going to promote are high quality.
If you promote products, just because of the sale, not because of the experience the customer would get, then you’ll find yourself out of business very quickly.
3) Creating your offer – if you already have a product, or even if you are promoting somebody Else’s product, you need an offer.
The offer represents the strategy from, “Your prospects have this problem,” to “This product is going to solve it,” even if the product is not made by yourself.
If you provide “results in advance,” that represents a strong evidence of authority and trust, your offer becomes “the secret weapon.”
If you create the offer first, but you do not have a product to sell, your offer is going to be weaker.
When you have a product or something in mind, as you are creating the offer, you’ll be more confident in getting your message across that’s going to bring the sale.
4) Finding customers – this is one of the most important pieces of the puzzle.
Ones you have your product and offer down, now, it is time to test them.
There are various ways to bring targeted customers to test your message:
– Getting traffic through different mediums of information to your website
– Building relationships with business owners who already have your customers, so they can endorse you to their customers
– Face-to-face selling or interactions where the goal is the sale
Depending on the nature of your offer, you want to bring people who are proactively looking for a solution.
One of the things that hurt the conversion rate the most is the random traffic. You want targeted traffic that is interested in what you are offering.
If you sell golf sticks to someone who does not like to play golf is useless.
5) People management – when you outsource different pieces of your project to minimize the work load out of your shoulders, you need an outsourcing system in place.
In my E-business Productivity Program, I talk about outsourcing from “A to Z.”
Ones you get customers, you can’t handle it all. You’ll need a customer support center, maintaining the status quo, improving things within your business, creating more products, etc.
You can literally outsource everything within your business.
6) Business management – this represents the legal stuff within your business, book keeping, intellectual property attorney, protecting your ideas, outsourcing agreements, setting up a business structure, etc.
When you create a product/service people buy, you are very likely to encounter others who will try to copy your work and put it as “their own.” That’s why you need a proper protection in place to prevent it from happening. You can get compensations in a form of royalties, trademarks and patents.
Furthermore, this is a great way to protect yourself from lawsuits and seizing your assets.
Now, let’s talk about how to prioritize your time and putting all of this together so that you can manage it more efficiently
Let’s assume that you work 5 days a week for 9 hours each day. This is equivalent to 45 work hours every week.
1. Spend 4 hours every day getting targeted traffic, talking to customers, building relationships with partners who already have your customers, SEO, PPC, advertising, etc.
2. Spend 1,5 hours every day on outsourcing management, such as team communication, giving assignments, etc.
3. Spend 1.5 hours creating content, creating blog posts, videos, articles, back end products to sell, etc.
4. Spend 1 hour each workday for crafting your sales funnels, your offer, headlines, story, copywriting, etc., based on the responses you get from the targeted traffic.
5. Spend another hour considering all the legal implications with attorneys, book keeping, cash-flow management, taxes, payroll, customer service, etc.