Every business is like a baby. It grows with stages. Not knowing the stage of your business will eventually lead you to make poor choices of what to do next. Imagine, feeding less than six months old baby food meant for two-year-olds? That’s a disaster because that baby may end up in the Emergency room fighting for his or her life. This is a scenario you need to see your business from. When you feed your business tools or courses meant for another stage, you won’t get results. With my over three years of experience teaching business strategies and supporting businesses to grow and scale, I can tell you first hand that most businesses are not succeeding today because they are being fed the wrong food at the wrong time. The result? Chaos and no profits.
The online space is a well of information without rules. Hence, you gulp them all in without digesting what and what you need to grow and eliminate others. Can you remember that tool you bought because of the hype you saw online? How many times have you used it? Can you remember that mastermind you paid for just because you liked the promoter or the content got to you? How has it helped?
I have so many people say there is no particular way to run your business. Yes, no particular way works for all businesses BUT there is what is called FOUNDATIONS. Foundations are deeply rooted and when not done properly, can result in a sinking house. If you don’t want your business to sink. Think solid foundational stages before you make a decision. That way, you are future-proofing your business from failure and more profits.
So, let’s dive into the five stages you need to consider if you run an online business
A. Niching Stage:
Choose who you want to serve. There are so many theories to choosing a niche but I have chosen to stick with two for now. The first one is that your niche will choose you. This means that you are advised to choose a niche from the group of people you have been serving and have been enjoying your solutions. The second one is that you should make sure your chosen niche is profitable. Your business will not last longer than a year if you are not making profits. Focus on serving profitable on-demand niches. If so many people are doing it, it’s proof that there is demand. Just bring your ‘A’ game to the market and watch your business blossom.
B. Audience Building Stage:
Your audience – people you serve is why you are in business. They are people that need what you have to offer. If you have an offer or service without anyone to sell to, your bank account will only show ‘red’. You will just hear crickets. Having an audience could mean building a following on your social media platforms ( If you have a large following, you need to turn them to your clients or customers by taking them to your email list), Your database, email list. This is the best way to future proof your business. Do not rely on social media platforms following as you don’t have control over them. Take your audience to a platform you can control.
C. Stage of Creating your Products or Services:
By the time you have got clear on your niche and who you serve, it’s time to create the products that will give them their desired results and make you money too. Don’t be in such a hurry to create a product first without first figuring out, whom they are meant for. You need to validate your product or service by trying it out on people that need it.
D. The Launch Stage:
This usually the stage people dread but it’s not as hard as you think. You just need to know that not every product will sell out. The idea of launching is to put in place a lot of variables where they belong. When you have launched a product successfully, you would have had an idea of how needful your product is, the various funnels and strategies you need to have a successful launch, whether to retain the product or let it go for a more needful one. Do you get the drift? These things need processes. You will only know when you launch. There are people that help with launches too. I do it for my clients.
E. The Stage of Automation and Scaling:
One of the sweet spots of having a successful online business is making money while you sleep or without your daily input. This is the work of automation. Scaling is also in different stages. Automation will help your business run on its own without you always being in the business. It’s also a way to scale or diversify. There are a lot of things you need to automate in order to scale. You cannot automate without having systems or processes. Don’t worry about the Tech involved. There are a lot of Tech Virtual Assistants like me out there to help you out. Whenever you are ready, you can automate your processes, webinars, delivery processes, onboarding of clients, payments collection, the building of a closer relationship with clients and so much more. Automation makes running your business seamless and gives you room for more creativity.
There is no hard and fast rule to building a successful online business but there are things you need to do in order to stay relevant, impact lives and make money without the chaos of information roaming all about. Your competitor is not better than you, she has only understood the simple stage of her business and is growing because she takes action that give her desired results.
Do you have an online business but don’t know how to figure out what tools to use or what tech to set up, what stage you are at or even how to market your business on social media platforms for consistents leads and more profits?
Send me a message via my Contact Page or Book a call with me here https://SessionwithPeace.as.me/ for an audit so that you know your stage and how to move forward.
Let me know if you have any questions in the comments.