Would you like to wake up every morning to see that your online business earned hundreds or thousands of dollars while you were sleeping? Would you like to come home after a full day of fun to find that your online business was making money for you the whole time? I can’t think of anybody who wouldn’t like this. This is what a successful online business does. It makes money for you while you continue to live your life the way you want to. Sound good?
A successful online business is one that makes money. Sometimes a lot of money. Making money is great. But, there is more to building a successful business than just making money. How your business makes money is as important to its long-term success.
You need to be looking years into the future. It is important to lay a good foundation now so that your business will last and continue to grow. There are a lot of online businesses that look successful today. They are making a lot of money right now. But, will they be making any money in the years to come? This is an important question to ask yourself as you start building your own business. Can it last? If not, I urge you to reconsider your business plans. Building an enduring and successful online business takes work, but it is worth it in the end.
A truly successful business should exhibit all these qualities:
- Continue to make money for years to come.
- Be able to grow year after year.
- Have more than one source of income.
- Become a recognized brand and/or authority in its field.
- Attract loyal customers.
- Supply customer needs or wants with quality products or services.
- Makes meaningful contributions to its community.
This list could be much longer but these are the things I want to focus on here.
A Successful Business Is Sustainable.
Sustainable means that it will continue making money for a long time. To do this, it must have a solid foundation. It needs to be built on the principles of honesty, integrity and adding real value to its community and the world.
There are a lot of easy money, quick buck, schemes on the internet. These may or may not be able to make you some money. Some might even make you a lot of money. None of these are sustainable. They are built around ways to game the system. Eventually, the system will learn and a business built on this game will fail. Trying to make money this way means you will always be chasing the next big game. Sooner or later your business will come crashing down around you. This is not success.
Building a sustainable business takes time and it takes work. You have to build it piece by piece. There is no magic wand that will poof it into existence. Once built it will continue to be profitable for many years to come. I know I want this kind of stability and financial security in my business. This is how you build success.
Is your business sustainable? Can it continue to earn money 15, 20, or more years into the future? If it can’t, then you might want to consider changing directions now. Part of helping you to create your own successful business is showing you how to make it sustainable.
A Successful Business Is Scalable.
A scalable business is one that can continue to grow its profits faster than its expenses. This is not hard to do online with a well thought out business. If all the other qualities are present, scalability should not be an issue for you.
There are over 4 billion internet users today. All are potential customers for your new business. That number will continue to climb as more people get the opportunity to get online. A well-built online business has a huge potential for growth.
A little planning before you get started will go a long way in making this easier. Things like choosing the right audience for your business are critical. We will get into this more as you begin planning your new business.
A Successful Business Has Many Revenue Sources.
Never put all your eggs in one basket. The same applies to business. If your business relies on one customer or one source of revenue, it is much more likely to fail. To make your business sustainable you need to create many sources of revenue.
This could mean using more than one type of media to build your brand. Having a website and a YouTube channel. Adding in podcasts or audio downloads later. What you use is up to you and what works best for your business. Knowing what your options are now can help you plan ahead.
This also means not relying on one type of income. Affiliate websites are a big part of my income. I do not rely on a single affiliate program. I also use advertising networks and sales of my own products. If any one of these incomes disappear my business will still make money. I already have plans to expand my business into other types of media. This will further ensure that my business is sustainable and scalable.
How about your business? Do you have more than one source of income planned out? It is fine to start with one type of income. You should have some ideas for adding additional types and sources as soon as you can.
A Successful Business Is A Brand.
You should be planning to create your new business as a brand. A brand is distinctive and should be recognizable to its customers. You can make the brand whatever you want. You can brand yourself or you can brand your business.
GetMySecret.Com is my brand. It is the identity that I want people to recognize when they see it. I didn’t want people to call this site Mark’s Blog. My readers should be able to easily identify all of GetMySecret.Com’s content and information. I am not the brand in this case.
Oprah Winfrey is a person and a brand. She has built a strong brand around her name. This is a personal brand that is recognized the world over. You can make yourself the brand if that is what you want to do. This makes you the center of your brand. The downside to this kind of branding is that it is not saleable. If you decide you want to go do something different you cannot readily sell a personal brand.
Getting your brand right from the beginning is important. Building a brand can be tough. Rebranding a business later is a lot tougher. Here again, planning ahead is the best way to get this right. We will get into branding a lot more a little later.
A Successful Business Attracts Loyal Customers.
Businesses that build relationships with their customers will be more successful. This is important to remember when building online businesses. With so many potential customers, it can be easy to start seeing them as disposable. That is not a good idea when you are trying to build a successful business.
This is more of an issue in some types of online business than in others. YouTube is a platform where connecting to your audience is much easier. The nature of affiliate marketing makes this much harder, but it can be done. Hard or easy, this is important to maximizing your business’s potential.
Design your business so it will attract loyal customers. Give your audience a reason to come back to you the next time they need what you offer. This starts by creating awesome content. Consider creating an email newsletter. Try some other kind of subscription program that adds real value. Get connected to your audience through social media.
Whatever works best for you and your business. As long as you are building those relationships. Customer relationships are the lifeblood of any business. All too often online business owners lose sight of this.
A Successful Business Fills A Need Or Desire.
Every successful business is built around the concept of satisfying a need or desire. What does your audience need? What do they desire? What are their problems or struggles? These are the keys to your success.
Offering real solutions to the problems your audience faces is the route to success. I’m not talking about sketchy, scammy, half-baked ideas. Offer real solutions. Solve their problems and you will become their new best friend. They will market your business for you. Give them reprocessed garbage and they will ignore you or worse destroy you.
Your audience has a need. Do you know what it is? If not, find out and then find a way to fill it.
A Successful Business Adds Real Value.
To be successful, your business needs to add value to the lives of your audience. It is possible to make money without doing this – It is not possible to achieve long term success. Giving value to your audience is what keeps them coming back to you again and again.
Adding real value is perhaps the most important of all. It is the one thing that ensures you have loyal customers and that your business can continue to grow well into the future. You cannot make a successful online business if you cannot deliver this one thing.
A successful online business makes money. How it makes money will help determine if it can continue to be successful. Making a quick buck might be easy, but it is not true success. Building a successful online business takes time and it takes work. But, I can tell you from experience, it is well worth it in the long run.
This is the kind of successful online business I want to help you build. The kind of business that will last and continue to grow. It’s not easy. It won’t happen overnight. It is possible if you are willing to put in the work and dedication required. So what do you say? Are you ready to start building your own successful business online?
I hope so! Get started now by finding your audience.