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If you are a business freak like me or get random thoughts about running your own online business on autopilot mode then this article is especially for you.
I have been reading, writing, and applying marketing for more than three years now, and I got the silver lining of every successful business. Every business and marketing book, every successful entrepreneur, and every business mentor online are following the same core process to get successful. All and all the real secret of success in any business is really never been a secret unless you didn't pay attention to it.
So here in this article, you are going to get some of the real milestones and essential processes that you must need to follow from the very beginning of your decision to run an online business.
These are some of the processes that can turn your brilliant idea into a running business in no time. So save (mail it to yourself) this article in advance or share it (Reshare in your social friend circle) with someone in need.
Step 1:- Brainstorm your business idea
90% of the time a business idea starts with an idea of an ideal product that solves some massive problem of a large group of people. Then it turns into some more product ideas in the same niche and the entire process leads you to write down the whole business process.
There are cases where some people are selling just one single product and earning huge revenue out of it. So it all gonna start with one product idea that you might have in your mind but making that product your winning product is the real deal.
Don't stick with what you have In your mind, start researching about it. Look for the factors that make it a profitable product, otherwise, look for other options in the same niche. Be specific. If you are new, it should be special. For you and your customer, it needs to stand out, so must focus on quality and how well it can solve the problem.
And if you still get confused about making it your business, then you can run the "N&D" test on it.
Meaning your product either could be a NEED of a customer or it could be craving the DESIRE in the customer's life. If your product stands in any of these two categories, you can go for it.
Step 2:- Choose your dream customer
When it comes down to a dream customer, it simply means a group of people with the same traits of character or let's say same requirements. There is a thumb rule in the business world, "you can't sell anything to anyone" and that is one of the factors of a successful business.
You have to choose your customers. Who they are? what they do? and where they go when they need help in your business niche?
It's very important to know the answer to these questions. I strictly make my client write down their dream customer traits because if you are not clear about to whom you are selling, you can not spend a single dime on that business.
Write down with pen and paper. Create an image in your mind and then relate your product to their problem and life.
For example:- If I am selling any fitness product, then I know my customer is craving to be fit and I can easily find them in Facebook fitness group, I can relate my product helping them to get fit. Once You get to know your dream customer in the best way possible, it becomes so easy to create and market your product among your dream customer to make a good start of any business.
Step 3:- Make your product a winning product before even launching it.
I will not suggest you invest a huge amount of money in a product idea that you just THINK is awesome. In order to run a successful business, you need to know that your product is a profitable product and the customer are already out there to make a purchase.
And to be that confident about your product you really need to run an online survey through all social media platforms in front of all your dream customers. Only the people you are about to serve are going to tell if your business is going to be a big success or just a waste, so do it before you invest your money in it. Simply ask, ask them about your products, and how they can improve your customer's life.
The response is going to tell you if your product going to be a winning product or not.
There are soo many people, who just fix the launch date and start marketing about their products, years back and their dream customers actually place the pre-order and that's how they analyze the results, how their business going to be. Isn't it cool, your dream customer is pre-ordering your product though you don't even have your product in hand.
These type of marketing strategies lets you play the game in the safest way possible. You get the deadline of creating your product before the launching date and while you create & improve your product, you can run marketing campaigns to earn pre-revenue on the product.
Step 4:- Once find the gateway product, be sure about product2, product3. product4, product5.
I bet you don't want your business to be temporary and that's why you need to be clear about at least 5 products in a back-to-back sequence in order to target the same customer again and again.
For example, if I am selling a weight loss product, I will be having 4 more products that can compliment my dream customer's need at the moment. Like a weight loss diet, weight loss exercise package, weight loss yoga guide, and whatnot.
So once I get successful in selling my first product, I can re-target my customer for more, and the conversion rate is defined to increase because now they know me and already used my first product, so they can easily trust me for all my products.
That's how you plan it for the long run.
Step 5:- Find a supplier
Finding a great supplier for your product could be a real deal. A supplier that you can negotiate with, a supplier that serves the quality, and the supplier that makes it easy to fill your inventory any time. Well, I will leave this hunt all up to you.
Step 6:- Set your daily minimum sales threshold.
Now comes the marketing part. Marketing and advertising is a crucial process of any business, so it's very important that you learn or hire someone who is an expert in it. Once you start your marketing and sales process, make sure you set a minimum threshold for your daily sales. Like 25 sales a day or 30 sales a day. It's very important to set momentum in your sales because that's the only way to raise the bar to the next level with a new product launch.
Step 7:- Funding your business.
Once you know your business is running great and you need to level up, it's the right time to look for fundraisers for your business. When you will reach this stage, then it will be a whole another concept to approaching people to fund your inventory or marketing campaigns because you will be shooting for a big number.
It's about to make six to seven figures in business in less than a year. Once you are confident about making 1$ dollar into 2$, you can easily maintain your business with other investors.
So be confident about if you can turn your world around by gaining daily sales momentum. If you can make 1$, you can make millions.
One last thing, Make yourself ready to GRIND HARD.
If you want to make big money, pick something to sell and make it sell. That's it.
Stay connected with me via IG :- Minding_my_own_buzz
Be more resourceful about making a profit in business:- Ritu Negi Ed Talk
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