5 Ingredients Needed for All Successful Online Businesses – A D Samuels

5 Ingredients Needed for All Successful Online Businesses

A lot like your favourite food, one missing ingredient can be the difference between a delicious meal or a sub standard one. Online and even traditional business work in exactly the same way, missing fundamental ingredients in the core business model are often the cause of failure. I am sure I don’t need to bore you with the start up business successes rates of 1 in 2 business failing in the two year.

Time and time again I see businesses making the same simple mistakes, even though there are actually only 5 fundamental requirements needed to create and maintain a successful business. If you study all successful businesses today you’ll be able to clearly see they have nailed all 5 parts, you would struggle to find a successful CEO, Entrepreneur or Company Executive who would disagree.

Elenanor Roosevelt – Learn from the mistakes of others, you can’t live long enough to make them all yourself

The above quote is an important one I heard from Tim Erway in his incredible Ignition Coaching series, in which he was saying that he has personally seen countless people waste £/$1000’s and hours due to missing fundamental parts in their business, which we will go over shortly.

If your business is struggling or you are in the infancy stage of starting off, learning these 5 components and taking action of them could be key in how your business looks in the next 2years.

The 5 components have been uncovered after studying countless businesses and ultimately through a trial & error process. So Rather then letting you experience them yourself I aim to save you money and time to avoid the 5 hiden causes of Internet business failure. So lets begin:

 

  1. Irresistible Offer/Product

When creating a product or service it needs to do one of two things, either solve a problem or fulfil a desire your prospected customer has. The product, offer or service has to be compelling enough for them to buy, the actual value it can give them has to be perceived to be a lot higher then the actual numerical value.

When advising clients on potential businesses to start or ways to make money, I always tell them to search different forums and look at Google trends to see what people are searching for as 92% of people who use Google are actually looking to an answer to something. So if that something doesn’t quiet exist, there could be a lucrative niche to exploit.

 

  1. Target Audience / Traffic

For me personally this is the most important step, as a marketer one of the golden rules is

“Know thy Market”

The whole point of business is to make sales, so if you can’t correctly categorise who wants your product you will be in trouble. This  is  one  of  the  biggest  mistakes  being  made  online  and  it’s  also  the  quickest  way  to  burn  a  hole  in  your  pocket.

To catch  fish,  you  have  to  fish  in  the  right  lake  and  use  the  right  bait. Equally  in  marketing,  you  have  to   get  the  right  message  in  front  of  the  right  people. To get  maximum  results  from  your  marketing  efforts,  then  you  need  find  a  crowd  that’s  itching  for  what  you  have.  People  who  are  searching  for  your  solution  and  will  break  down  your door to get it.

Its important to have a customer Avatar in mind and know all about them.

Where do they shop?

What do they read?

What keeps them up at night?

How old they are?

Etc..

Once you fully understand who you are marketing to it is pretty easy to know what the most effective way to market to them is and where to find them.

 

  1. Automated/Efficient Sales system

Ok you now have your irresistible product, you now know your target audience inside out and how to find them.

But, what happens  next?

Well, you  have  to  take  them  through  a  process  that  turns  them  from  browser  into  buyer.

This is  done  in  the  online  world  with  a  sales system which should do the following

  1.  Convert  visitors  into  leads  and  build  your  list
  2.  Convert  leads  into  sales  by  presenting  valuable  offers
  3.  Continue  following  up  with  prospects  who  don’t  buy
  4.  Turn  one­time  buyers  into  repeat  buyers  by  continuing  to  present  offers
  5.  Help to solidify those  sales  and  keep  customers

Making it as easy for your customer to buy and repeatedly buy from you is key, it is heart breaking when I see businesses go to all the effort to create an offer, put that offer in front of the right person just to lose them due to an inefficient or complicated sales system.

 

  1. Profit PrOfIt PROFIT

Its so important I had to name it 3 times, Profit is the main reason we start a business, yet lack of it is why businesses ultimately fail. Managing your cash flow is very important, make sure that you are selling your product at the optimal price and you should always no what your break even point is..

As an online Marketer myself ROI (Return on Investment) is a key metric I look at, as the amount I am making has to always outweigh the amount I am spending, if a campaign is not profitable it gets dropped and then I look at different ways to make it profitable.

I often use the Test, Analyse, Change & Repeat method which allows me to maximise profitable campaigns and cut short as quick as possible unprofitable ones.

 

  1. Coach, Mentor & Training

This here is the ingredient that people completely pay no attention to until its to late and its no surprise that,  I’ve  never  met or read about a  single  successful  person  who  has  created  a  successful  business  on  their  own.

To  start  a  business,  you  need  support.

You  need  the  right  training.

You  need  help  when  you  get  stuck.

Anyways,  one  of  the  fastest  ways  to  grow  your  income  is  to  surround  yourself  with  other  

like‐minded  people  who  already  achieving  or  are  aspiring  to  achieve  more

 

What personally drove me towards Network Marketing is that you are pretty much given all the above, all you need to do it re define your target audience but all the other parts are all neatly packaged for you and more importantly have been successfully tried and tested. The only difference between yourself and the top earner in your company is YOU, you both have the same product and compensation plan.

 

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Aaron D Samuels

I help Network Marketers and small business owner to find new people to speak to about their business online. I teach free & paid strategies on how to leverage social media algorithm to get your content in front of the right people at the right time.

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