How to Build an Online Business from Scratch

How to Build an Online Business from Scratch

Starting an online business is no joke and if you are going to do that it is better to do it right, as the saying goes, “whatever is worth doing is worth doing well”. If you are looking to build an online business or build your business from scratch all over again, this blog post is for you.

Below are some steps you should take if you are ready to build an online business from scratch.

Write a list of your skills and accomplishments:

It might be hard to figure out what online business you can do. A simple trick that can help you kick the ball rolling is if you list down what you are good at and what you have accomplished. This will go a long way in helping you figure out what you can start as an online business. You need to zone in on the skills that you can monetize and the essence of the process is to start a business. Money is used to run a business.

If you are very confident about your skill set you can ask your family or friends to give you a true, honest, objective point of view about the skillset you have picked. This is because you have to pinpoint a winning skill that you believe you can do better than average.

Create A Buyers Persona

The next thing you should work on is to create an entire profile of the person that you believe you can help with your skill. You do this by outlining in detail who your ideal client is.

You should also outline what point A to point B would look like, that is, A being before they have ordered for your service and B being after they have been serviced by your skillset. In essence, the details of your client’s point A will include their current reality, what they need help with, their pain points, and what they are struggling with.

Your client’s point B will include their goals, what they perceive as success, and what they expect to achieve. When you know what point A to Point B is, you will need to think about what the bridge that will connect point A to point B is.

This is essentially what they need to get them from point A to point B. Your service should be whatever they need to get them from point A to point B. That is what you should be offering your clients, SOLUTIONS! Selling high-ticket services means that you should be ready to fill a demand which is the sweet spot between point A and point B.

Competitor Research

You need to research who your competitors are because you want to be sure that someone else out there is also profitable in business doing pretty much the same thing you are about to do. Reinventing the wheel is very tricky so you want to avoid that.

You are not to copy the competitor, you should even try to outdo your competitor, building strength where he’s weak. However, before then you need to know that other people have been successfully doing a similar thing.

Document Your Journey and Create Content

By creating content, whatever the platform may be; Instagram, YouTube, or Facebook, you are going to start positioning yourself as an authority within the industry you are penetrating.

You are also going to be building your personal brand, especially by the fact that you are documenting your journey. In essence, what this means is that you are committing to the idea by creating content and documenting your journey of starting your online business while sharing key advice in that niche.

You want to build a strong personal brand so that you can attract new prospects. You can also join Facebook groups that you believe your target audience is and generously help the people there. That is going to allow more eyeballs into your other social media platforms where you have a presence and original content.

Host Market Research Surveys and Calls

You should host market research surveys and calls to enable you to dive deep into the person who is your personal brand and also validate the assumptions you have about your competitors and Buyers that you have researched earlier.

Converse with real people and validate whether your assumptions are right and ask them if there could be a service that would truly fix their problems, what would it be? This way people who are your prospects are handing you solutions and the offer that they would buy and they would need.

After doing all these you should create juicy free lead magnets and email lists that will funnel into your high ticket offer. It should be a no-brainer lead magnet, be super juicy, and be super value-added. It could be a free masterclass where you would share your framework and the things that you would actually deliver in your high-ticket offer while still adding value to that lead magnet.

This is so that whether or not the person decides to buy your high ticket offer or not they are still walking away with a lot of value. To do this you have to offer a limited-time offer or discount because you do not have testimonials, social proof, or referrals to leverage on.

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