The 6-figure business is like the golden grail.. the ultimate goal of online marketers. But the question is, what does it take to actually create a successful online business. In this article we will explore the 4 pillars of online businesses that can take you to 6,7 or even 8 figures if you get these right. https://youtu.be/qKJSpgxNPl4
Pillar #1 – Product Creation
Every business must have a product or service that is in demand by their particular target market. One of the things that you must become proficient with is in producing a product that your market wants right now. This doesn’t mean that you actually have to create the product yourself but you must either:
- Produce the Product yourself
- Have someone else produce the product for you or…
- Partner with someone who already has a product that you can market.
If you are new to online marketing, then Partnering is probably the easiest way to go given that there are tons of products out there that you can market and earn commissions on, this is called affiliate marketing
Pillar #2 – Traffic
There are basically two types of traffic paid and “free”. Free traffic is traffic that you generate by doing things like posting on social media sites like Facebook or Twitter. You can also generate “free” traffic by using SEO.
Paid traffic is traffic that you actually pay a site for. This can be in the form of Facebook ads, Bing or google ads, solo ads, and banner ads.
The advantage of “free” traffic is that basically, you can generate this type of traffic without spending money. However, as they say, nothing is free and the same is true for free traffic. Though you may not spend money to generate free traffic, you will at the very least spend your time either by manually making posts on social media sites or by creating good content that is optimized for the search engines.
Regardless of which route you go, Free or paid… You should master ONE method of traffic so that you can consistently generate enough traffic to your site to actually have people see your content and offers.
Only after you have mastered one, and are consistently generating traffic through that source of traffic, then and only then should you attempt to add a second traffic source. Keep in mind that you only need one reliable traffic source to build your business.
Pillar #3 – Conversions
Once you’ve mastered at least one traffic source and are reliably generating traffic, you now have to get that traffic to convert. Generally speaking, people will watch you for a while before they purchase anything, so your first conversion is to get them to opt into your list. This is probably the most important step… Because basically, your list is your business. The industry stats say that for every 1 person that is on your list, you will generate $1 of income. So your first task is to convert your site visitors into fans of yours and get them on your list. You can accomplish this by offering something that is of high perceived value, for free. This can be a free eBook, a free video course, a free coaching session, whatever. Whatever it is, it must have real value in the market place and you must give it away for free! Well, not totally for free, you want to trade your valuable asset for their email address. Secondly, you must actually convert your traffic into actual sales. Again, because people don’t know you when they first visit your site, they are, generally speaking, not going to buy from you. You have to build a relationship with your list. Become an authority figure – an expert that they turn to for answers and then after they have grown to know, like and trust you… Then they will buy from you.
Pillar #4 Technical
Because your online store is… well, online, there are some technical aspects that you will have to have covered. This doesn’t mean that you have to become a web designer or computer programmer. It just means that if you don’t have the technical skills required to maintain your online business, you either have to…
- Learn to do it yourself
- Contract out the work or
- Partner with someone who can do the work for you.
One of the most important lessons that I’ve learned about business building is to ask “Who?” not “How?”. If there is a task that you need to have done and you don’t know how to do it, ask yourself instead, “WHO can do this for me?” These days, there are tons of resources available online. There are web designers, copywriters, and people with highly technical skills on sites like fiverr.com or upwork. So instead of getting stuck on “How” to get something done, ask yourself “Who can I get to do this for me?”
So, those are the 4 pillars. Once you get all four of these pillars in place and functioning in your online business, there are no limits to which your business can grow.
If you want to learn more about how you can build a 6 figure business from your home in your spare time, then click here to download a copy of my FREE ebook, “The 4-Step Blueprint to 5-Figure months” . This free book lays out exactly what you need to do to start generating 5 figure months in your online business, so you’ll never have to act desperate, chase down or strong-arm prospects, or deal with cold calling and rejection, ever again. These methods allow you to build your business automatically—where prospects reach out to you (instead of you having to reach out to them). So if you’re ready to get started…
To Our Unlimited Success!
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