No one starts a business to fail. And yet, many businesses do. However, when you build your business on the right foundation; and then assemble it using the correct building blocks in the proper order, your chances of success skyrocket!
So, today, I am going to reveal my formula to building a successful and profitable internet business. I have pulled these ideas from many inspirational and successful entrepreneurs over the years, but I have combined them in a way that makes sense for me. I hope these ideas clear up the confusion around business building in the internet age for you as well, because homeschool moms are perfectly positioned to succeed in and profit from a business that operates online.
First of all, let me address the most obvious question that you might be asking. Not all businesses are internet businesses, right? Actually, I would argue that in the 21st century, all businesses are now internet businesses, because if you fail to harness the internet for your business, it will slowly disintegrate. In our digital world, every business needs an internet presence and an internet marketing strategy.
Your foundation is your WHY.
Whether you currently own a business, or you are dreaming about starting one, you need to understand your WHY. Why do you want to create a business? And the answer cannot be simply, “money.” You have to have a bigger WHY than money. Why do you want the money? What would you do with it? Who would you spend it on? What greater good would you invest in?
No one on earth has the same set of gifts, talents and personality traits as you. You have gifts to share with the world that only you can give. You can serve the people around you in a way that no one else can. You are unique. You make a difference.
Think about why you want to start or continue your business. What do you bring to the table? Who can you reach? Who can you serve? Know your WHY. Because without your WHY, you will lose your way.
Once your foundation is sure, you can begin to build.
Here are the 5 Building Blocks to a Successful and Profitable Online Business:
1. Get clear on what the problem is that your offer solves. You don’t want to create a solution to a problem that doesn’t exist, so identify the problem and your solution. The best way to do this is to enter the conversation that your customer is already having in her head. What is her biggest pain point? What keeps her up at night?
2. Build your internet home base and your social media outposts. Buy a domain name that reflects you or your solution. The .com is preferable, but not necessary. Buy your own firstnamelastname.com, your businessname.com, or your solutionname.com. Build pages that reflect who you are, explain quickly what you offer and reflect your brand. And yes, design matters. In an age of Pinterest, Apple, National Geographic, and the World of SWISS, beauty in design matters.
3. Create a lead magnet and grow your list. A lead magnet is a free gift that you give away in exchange for someone’s email address. It doesn’t have to be a full-length ebook. In fact, it is better if it is not. People often don’t have time to read long ebooks. But it does need to be desirable, such as a checklist or special report that helps them solve a problem quickly and easily. Example: 5 Ideas to Help Your Baby Fall Asleep So You Can Too.
4. Create a product or service that sells itself. If your product or service solves a nagging problem for your potential customers, then you won’t have to do a lot of selling. It will be a no-brainer for them to buy it.
5. Communicate clearly. Give valuable information constantly and explain your offer clearly. It is always better to be specific, over-deliver, and provide great amounts of information for free. When you position yourself as someone who wants to help, you establish trust, and then your no-brainer product becomes that much easier to buy. Generous people of integrity are a joy to do business with.
And that’s it. Running a business and marketing doesn’t have to get any more complicated than that. With a firm foundation and these 5 building blocks, you can serve others better than ever. There has never been a better time to own and operate an internet business.
Question: What is your WHY?