If you want to fire your boss and generate a full-time income with your own online business then this will be the most important article you ever read.
All kidding aside,I want to show you step-by-step how to build a successful online business so you can quit your job and make a full time income from home.
Before I get into the meat and potatoes of this article I want to talk about having the right philosophy about business.
As entrepreneurs our goal is to provide value in the marketplace and solve problems. The bigger problem you solve the more money you make.
Look at Microsoft for example. Microsoft is one of the biggest companies in the world today because they solved a big problem.
The big problem was it was really difficult to use computers back in the 1980s and 1990s. So Bill Gates and his business partner Paul Allen developed the windows operating system to make it easy for the average person or corporation to use a computer.
Microsoft was so successful in the 1990s they had 90% market share of the world’s personal computers!
They solved a big problem and were rewarded for it.
Lets talk about niche selection.
You want start an online business in a niche where there is money. A market where there are millions of people willing to spend money on a niche/topic they’re irrationally passionate about.
A few niches that come to mind are niches like Crypto,NFTs,day trading,weight loss,golf,biz-opp and dating.
If this is the first time you have built an online business it’s important to pick a sub niche where there is little competition.
So for example,instead of picking a big niche like weight loss,maybe you decide to build a business around a sub-niche like “Weight loss for retirees.”
Another tip about niche selection is leveraging any experience or knowledge you might already have about a certain niche/topic.
So for example,you may be an expert at investing in crypto. So it might be a great idea to just build a business around investing in crypto.
Plus crypto is a niche that has been hot and trending the last couple of years and it’s an industry where billions of dollars are being spent!
Here is an awesome article about picking out a niche.
I also wrote an article about awesome niches to build an online business around right here.
Lets talk about creating content.
One of the most important things you can do in your online business is creating content on a daily basis. If there is one thing I want you to get from this article it’s this:
We are in the publishing business!
Almost everything you do in your business will be related to creating content.
The entire internet runs on content.
Here are my favorite types of content marketing:
-Blogging
-Sending emails to my list
-Podcasting (haven’t tried it yet but I would like to)
-Video marketing
The #1 goal with content marketing is to provide value (educate and entertain) and solve problems.
If you’re a one man band and don’t have a team of people working for you focus on email plus one marketing strategy like blogging,YouTube or podcasting.
Email should be part of your marketing stategy from day one because the return on investment with email is so high.
Lets talk about listbuilding for a second. The most important asset in your online business is your email list.
90% of my income currently comes from email!
A lot of the gurus will tell you that email is dead and that social media is really the only way to market a business but that’s false.
According to Statista.com email marketing’s average return on investment is anywhere between $36 and $45 for every dollar spent.
Email is far from being dead. It’s alive and well.
Frequently Asked Questions About Starting an Online Business
Q – What software should I use to build my email list?
A – If you’re just getting started out go with AWeber. With the $20 AWeber plan you get:
-Up to 500 subscribers
-Unlimited email lists
-Unlimited landing pages
-Unlimited email automations
-Priority, 24/7 support
-Full template library
-Advanced reporting & analytics
-Advanced landing page features
-Sales tracking & low transaction fees
-Ability to remove AWeber branding
Q – I want to start a blog. Who should I buy hosting from?
A – I’ve been using Bluehost for the last few years and couldn’t be happier. Their plans are affordable and uptime for me has been close to 100%. I have a gig on Fiverr if you’re interested in getting a blog setup. Check it out right here.
Q – Sales Funnels are all the rage these days. Where is a great place to start if I want to learn how to build funnels?
A – I highly recommend you read the books Expert Secrets,DotCom Secrets and Traffic Secrets.
Q – What is the fastest way to generate leads?
A – The fastest way to generate leads is to build a lead magnet and drive traffic to it using paid ads (YouTube ads,Facebook ads,Google ads,etc)
I like creating lead magnets with a funnel builder called ClickFunnels. You can get a free test drive of ClickFunnels for 14 days.
If you’re having trouble creating a lead magnet funnel check out this post right here.
I will be adding to the question and answer section of this article as I see fit.
Hope you enjoyed the article.
If you have any questions about building an online business let me know in the comments section below.
