Two Step Formula For Starting An Online Business
If you ever wanted to start an online business then reading this article is going to save you a lot of time and heartache because we’re going to give you our two step formula for starting an online business because we’ve been there and done it and have worn the proverbial T-Shirt as they say …
The Two Step Formula For Starting An Online Business
It’s a very simple two step formula and that is
Step One : Build An Audience
Step Two : Sell To That Audience
When we first started our online business over five years ago now we didn’t know this formula and therefore missed out on the crucial step – Step One – Build an Audience
We pretty much went out into the big wide online world and tried to sell to people without really having any clear idea who our audience were. We were mainly talking generically to people who wanted to “make money online” and some did buy but in the main they hung out with us reading and consuming our content but never taking any action.
Hindsight is a wonderful thing and had we known and understood the two step formula for starting an online business from the very beginning then things might have been very different and we might not have struggled for as long as we did.
We provided lots of free information and made it available on our blog and to our subscribers but the problem was that they liked free. They liked to consume. They didn’t like to buy!
Now we follow the two step formula for starting an online business by starting off building an audience (sometimes known as your target market) and then providing value to that audience and selling to that audience.
For us specifically, to give you a practical example, our audience is people aged 40 plus who are from a professional background either corporate or self employed business owners and who are looking to generate income to replace their pension nest egg or who just want more money to enjoy their retirement. This is a perfect audience for us because we know and understand them and we know exactly how to talk to them.
We’ll get into building your audience in another article but today let’s concentrate on what you need to do before you build your audience. Part one of our two step formula for starting an online business
We taught this at a recent mastermind and we’ll share it with you here.
First picture a theatre and then visualise rows of empty seats in that theatre. Your job is to fill those empty seats.
The people filling those seats will be your audience!
Now you need to think about who you want to fill those seats and when you work with us we’ll share with you how to go about that and save yourself a lot of time and heartache 🙂
In part one of the two step formula for starting on online business you will need to make a choice. A choice about whether you are going to attract people with no money (like we did back at the start of our online business career without realising it of course) or people with money. Clearly you want to attract people with money and ensure your business is going to be profitable. This will be your perfect audience. The people who will fill those seats.
So how do you attract people who actually want to buy?
Let’s tell you first of all that it’s going to be a bit of a mindset shift to realise you can’t sell to everyone and finding those people who want to buy is going to be time well spent as you lay the foundations of your business
You want to attract people who have an abundant mindset where they believe that the more you put into something (for example in our business that would be investing in their business education) the more they will get out of it. When you attract the right clientele who believe in paying for what they want and need you have the beginnings of a very succesful and profitable business.
We’ve done the apprenticeship of trying to “convince” people to buy and because they are really just ‘freebie seekers‘ it’s not the right audience. It’s not that they are not nice people or anything it’s just they are not the right audience for us. They will find and consume our value content but they will rarely buy.
In part two of this article we’ll be looking at how you go about reaching your perfect audience
Do let us know what you thought of what we’ve shared so far of this two step formula for starting an online business
Who Are We
We’re former accountants of a certain age with 5 great kids and 3 grandchildren. We love skiing and traveling the world and have achieved a fabulous life helping others to start and build a successful business online and now speak on international stages following that passion. Our worldwide educational business is centered on online marketing education and wealth creation and a desire to help you create financial freedom online through entrepreneurship whatever your age or experience.
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