- November 29, 2017
- Posted by: Richard Takemura
- Category: Blog, Entrepreneurship
Conducting business online is already a $200 billion industry. Did you know that it’s growing by a whopping 15% every year?
The facts are clear — online business is here to stay.
If you want to make the next decades financially prosperous, it’s important to move into the age of the online entrepreneur. Once you’ve made this leap, you’ll need to also learn the best ways to grow your online business.
Put these tips to use so that you can become the best online business person possible.
Carve Out Your Goals and Vision As an Online Entrepreneur
Your first step toward becoming the best online entrepreneur you can be is to have a plan and a vision.
Start with figuring out what kind of value you want to provide. If you’re a fitness-based business, are you more passionate about selling products that work, or giving exercise advice?
Assessing your goals and strengths helps you figure out the avenues you plan to take as you grow your business.
The beauty of being an online entrepreneur is that the possibilities are endless.
For instance, you can grow your business through garnering YouTube revenue, going the resell route, selling eBooks, and producing educational courses. By doing the research into your strengths up front, you’ll execute when time to monetize comes.
There are countless business ideas you can research and spin into an online business venture.
Put Out Free Content to Build Your Customer Base
Many people going the online entrepreneur route make the mistake of going wide.
The wide reach of the web makes it tempting to try to get everyone — but the best strategy is to focus on a niche.
With this niche, you’ll be better able to find customers who truly enjoy what you offer, which increases your conversions, as opposed to just blindly drawing in traffic.
You will find your audience by putting out quality, niche-based free content.
Making this content free draws people in and makes them more likely to want to be a longtime customer.
Lower Your Overhead Costs
Managing your overhead costs is crucial no matter what kind of online business you run.
By nature, internet businesses have a lower barrier to entry, so there are plenty of ways to save money. Since the bulk of your business is done online, working remotely or in a low-cost office is a great step to take.
You can set up a quality home office setup that gives you great progress. Use some organization hacks, such as color coding your files, setting up a printing station and buying great storage containers.
Find the Best Advertising Models
Your advertising model is what will truly make or break your online enterprise.
There are plenty to choose between — including Google Adwords, pay-per-click advertising, affiliate marketing, YouTube ads and more.
It may take playing around with a few different advertising models for you to truly figure out how to draw in money. When you bring in high amounts of traffic on a regular basis, you’ll be better able to get top advertising dollars.
Hire Help When Necessary
The mistake that business owners online and offline make is not knowing when to ask for help.
Many online entrepreneurs take pride in doing things on their own — but this only goes so far.
Start by hiring low-cost jobs that get a lot of busy work done. For instance, paying someone to write short blog posts can help you bring in more valuable traffic while reducing your time investment.
Aside from hiring people for positions in your company, it pays to network and find mentors.
These professionals can help guide you on your online entrepreneur journey so that you’re able to avoid some of the mistakes they made, while achieving success with all your goals.
A mentor has incredible insight and can be key in helping you grow your enterprise. You can also hire a personal entrepreneurship coach that can act as a guiding force for you throughout your entire career.
Connect to Your Tribe
Even though people are communicating online more than ever, it’s still vital to create a personal connection.
Personal connection is why people are loyal to businesses and tell their friends and family members.
Even if you simply sell products, consider starting a blog to both grow your audience and connect. Take on a conversational tone and remain transparent with your customers.
You can also speak personally to your subscribers by setting up an e-mail list and optimizing the attention that you are getting across the web.
When it’s all said and done, the people that believe in what you offer are your tribe. Your tribe makes up the majority of your revenue and helps to spread the word about your business.
Stay true to your audience and your online business will inevitably grow.
Use Search Engine Optimization
The more you can master search engine optimization, the better growth you’ll get from your online business.
In addition to running the data on the best keywords, you can also optimize your site by having a strong social media presence.
Don’t just create social media accounts — make sure that you are legitimately communicating with your followers and using these accounts as a networking tool.
The more you’re creating conversations around the net, the easier it’ll be for you to grow your brand as an online entrepreneur.
Keep Your Website Running Impeccably
You’ll want to hire seasoned web designers that will keep your site up.
Site downtime can cause you to lose huge amounts of money. Aside from downtime, you need to make sure that the site isn’t buggy or slow since this is offputting to new visitors.
Your website is your foundation, so always invest in strengthening it.
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From there, I’d love to hear from you. Leave me your thoughts in the comments below.