Apr
15
How To Start Your Own Business Online – Don’t Make The Mistake Of Focusing On Products First
If you want to know how to start your own business online as painlessly as possible
I will give you one piece of advice that has helped me build successful online coaching companies. Start with the marketing and build a seed list. The reality is if you resist the temptation to dive right into developing/selling your products and take some time to focus on the marketing first you will set yourself up to be much more likely to succeed.
I understand this may seem counter intuitive, so I’ll give you just a few reasons to back up my claim, that you need to build a seed list before a product.
Here are just a few benefits to starting with a seed list opposed to product/website/service development.
Refrain from creating or peddling an incredible product that no one wants.
Unfortunately we have all heard a story like this before where someone poured their heart, soul and bank account into developing an information product, service system or e-commerce
website that no one is paying for.
In almost every case I can promise you that they did not start by building a list of qualified leads interested in the benefits that they could offer.
Start making impressive sales the minute your products/services are ready.
Don’t make the mistake of setting yourself up for burnout when your product is ready to be sold and now you have the uphill battle of finding someone who’s interested.
You have had time to build a reputation.
Good marketing and a solid product can convert a hot, hungry prospect on the spot even if they have never heard of you. But if you are able to establish a reputation or better yet, build a trusting relationship with them first then you are all the more likely to be effective.
Many “sweat equity” marketing techniques are far more powerful after they have some time to get established.
This principal actually applies to all marketing efforts, but if you are using social media, article marketing, and newsgroups it is especially important to give them some time to make their mark.
Prospects can give you feedback to help you get on the right track early on.
You can pick the perfect market and be providing the right benefit, but you can still “miss the boat” if you don’t present it in the right way. Working with your prospects can help you deliver your content in a widely accepted medium and the right price point/structure.
Your marketing experience will give you a more realistic idea of how much time and money you will need to dedicate to finding leads
Running out of money is one of the most common reasons new businesses fail, and when starting your own business online you can bet that if you have expenses then your marketing will probably be at the top of the list. Now that you know exactly what your marketing will cost you in time and/or money you can budget properly to avoid that disaster and allocate ample funding to get you off the ground.
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