What do you think are the steps that you need to take when establishing your online business? What will be the main topic of your business? What will be your niche that you target? What problem will you solve for your customer? Or what pain will you help to relieve for your customer?
These are a lot of questions that need answers. Fortunately, there is a specific way in which you can handle this subject.
Your priority will be to establish the main topic of your business. Normally it has to do with one of your strong points. Something that you know about and have some experience in helping others.
Now you look to see what your target niche will be and how you can go even deeper.
Five Main Niches
Health, Wealth, Relationships, Hobbies and Mindset.
There is real competition in these main niches, and you should drill down as much as you can to better target your ideal customers.
If you are in the time management market, then you will be able to sell a general product for about $9-$19. If you now develop a product specific for business owners, you might be able to sell it for $49-$99. If you target computer business owners, you will be able to sell your course for $199-$499.
Ultimately you can design a course specific for CEOs of big companies that values their time much more and you will be able to sell it for $1,990-$9,990.
It can be the same basic course, but it will depend on how much the user values their time.
Your Business Name
Now that you have established your niche and your target market, you should find a suitable name for your business. Try to find a name that when your prospect sees it the first time, they will immediately know what it is all about.
When you see the name Precision Steel, you know that it is about steel
manufacture. The same with Bakers Biscuits or Sharon’s Hair Salon.
Once you have a suitable name, then you should find out if a similar domain name is still available. If you can find the same domain name, then you are lucky. If it is not available, then you should keep on looking for a suitable name.
You can use this link to search for available domain names and you should always look for the .com domain or .co.uk or .co.as or whatever country you live in.
Here in South Africa, I have opted for mattmare.com and mattmare.co.za.
You should always try to get all the domain names like .net and .online as well because you will need several domain names as your business grows.
Your Email List
The most effective way to grow your business is by building a prospect list and when you make sales, you should move those buyers to your buyers list. You can even have different buyer lists if you sell various products and services.
Your buyers list will become your most valuable business asset and you can promote them for years to come. The people on your buyers’ list have already proven that they are prepared to buy from you and if they are happy with what they bought from you, they will buy from you again.
You can also ask them if they know people who might be interested in what you have to offer. If they refer people, they will also buy from you because they trust that their friends will only give them good advice.
You can even offer your buyers a membership with loyalty benefits which will keep them staying even longer as your loyal supporters.
Finally, you can also create an affiliate program where people who promote you can earn a commission when their referrals buy from you. This way you can build a team that will eagerly promote you and do the marketing for you. You can then focus more on creating new products so that you can add more income streams for your business.
To build your prospect list you need an autoresponder service that will also provide you with a way to create opt-in pages. In your social posts and blog articles you can post ads that give away your lead magnet. It is something of real value for your ideal prospects. This ad will then take them to your opt-in page where they can get access to your gift in exchange for their email address.
What you are reading now is something that I could offer as a lead magnet for people to subscribe to my email list.
Once you have a list, you can send them promotions of your products or even other people’s products on which you can earn a commission while you work on creating your own products.
The product that I will now tell you about is such a product that you can also promote to your list since it is something that every business owner needs.
This Product Gives You Access to:
- Hosting for 4 Domains
- A Professional Autoresponder
- Easy Video Producer
- GVO Conference Room
- Prospecting System
- GVO Academy
These are the things that need access to be a successful online marketer and it will cost you hundreds of dollars each month if you must buy them all separately. This is a packaged deal that will save you $464.03 each month. You only pay $119.82 for a full year which comes to only $9.99 per month.
As a bonus, we will give you free access to our M&M Marketing Membership where you will be shown exactly how to create your online business and your email lists. Send an email to firstname.lastname@example.org with your username for the program that you signed up for above and we will send your login details for our membership.
While you are working on your own products, you can promote this easy to sell program and earn commission. Just follow the link below to see how it works at the 7-Figure Launch System.
(These are affiliate links above, and I might earn a commission if you buy something.)