How To Build An Online Business [6 Steps To Success]

Now is the time to learn how to build an online business in 6 steps!

My online business has given me the freedom to make money online while traveling the world. Being location independent means that all I need is my laptop, Internet access, and my camera.

The more money that you have, the more freedom that you have to do what you want, where you want with whomever you want.

In the words of Mark Twain, “The secret to getting ahead is getting started.” Are you ready to learn 6 steps to success online?

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Are you ready to learn which online business is best for you? CLICK HERE to take my free online quiz!

According to a study by the Economist, about half of the world's millionaires own their own businesses. If you already have an online business, that's awesome. If you don't, but have the desire to, now is the time to start building one.

Having an online business allows you to make money, 24/7.

I believe that an online business is one of the best ways to make money online. Not only can you scale and grow an online business, but because your business is virtual, you can have a global impact. The online world provides you with an infinite level of potential. There is no limit to how successful you can be.

I can operate my online business from anywhere in the world. Not only that but if I don't want to operate my business, I still make money. Why? Because I've built lasting multiple streams of income. This is what has allowed me to build long-term wealth.

Wealth is a mindset that must be cultivated. To become a millionaire, you must think like one. This will require that you stretch your thinking and develop success habits. Success doesn't come easily to a lot of people, including myself.

It took many years of blood, sweat, and tears to get to where I am today. I had to overcome a lot of mental and emotional blocks. It takes more than just knowing the practical steps in order to build an online business that stands the test of time. If that was the case, then anyone who had access to free information would be successful. Knowledge is not enough.

I want to share with you the 6 steps to success that you need in order to build a thriving online business. Everyone achieves success differently, but this is what has worked for me as well as many other people.

Step #1 – Identify What Online Business You Want To Start

There are many different online business models that you can choose from. For example, you could sell physical products on Amazon, publish books, create information products, promote services, do affiliate marketing, or create software.

I understand that it can be overwhelming and intimidating to choose one. They all seem like great opportunities. The big mistake that a lot of people make is that they try to do it all. You need to understand that you can't, especially if you are just starting to build your online business.

At the onset, there is always a learning curve. I call this, “the suck phase.” This is where you suck at everything. Some people are naturally good at things. However, most people have to go through the suck phase in order to master a new skill.

The ability to go through this phase is a key success habit. A lot of people give up here. They prefer to stay in their comfort zone and be good at what they already know. If you are willing to endure this learning curve, you will be winning.

I encourage you to be a student for life and stay humble.

Even though you may be successful in 1-2 different areas of life, there is always more to learn. At the onset, I suggest that you pick one business model that plays to your strengths. All of the different online models have pros and cons to them.

When it comes to building an online business, you can't get caught in the shiny object syndrome. This is why it's so important to identify which business model aligns most with what you want in life.

What is your ultimate vision? Why do you want to build an online business in the first place? Ask yourself these questions before you even get started. If you don't have a strong enough purpose, then you are not going to be able to effectively maneuver your way through the ups and downs of the entrepreneurial journey.

Step #2 – Get The Help That You Need To Build Your Business 

Don't try to learn things on your own. You will only waste time and money and cause yourself an insane amount of unnecessary stress. Why try to reinvent the wheel if someone has already invented it?

Don't recreate success. Learn from the people that have achieved what it is that you aspire to. This is what will allow you to fast track and accelerate your success.

I like to use the analogy of trying to find a treasure in the jungle. The treasure symbolizes building a successful online business. Unfortunately, a lot of people don't even have a map to find the treasure. If you take this route, you will get lost along the way and most likely give up.

A smart person knows that a treasure already exists, so they get a map and follow the GPS to success. They follow the steps which inevitably lead them to their desired destination.

I learned this the hard way.

For a long time, I was too stubborn and cheap to seek out help. I chose to put my money towards social activities instead of investing money into my own success and well-being.

This is why I struggled for a long time. Once I finally figured it out and learned how much faster I could succeed by standing on the shoulders of giants, my success skyrocketed. Everything became easier. This comes down to common sense.

I am still amazed by how many people still try to figure things out on their own, through free content. I suggest that you first learn the basics of building an online business through an online course or step-by-step video training.

Once you create a solid business foundation, then you can always hire a coach or mentor in the future that can guide you towards the achievement of your business goals. If you aren't willing to invest in yourself or your business, don't get started. You will only be wasting your time.

If you are looking for immediate income, then you need to get a job. An online business will not provide anything immediate back to you. It is an asset that you put time and money into because of the future potential that it has to give you the freedom that you desire.

Step #3 – Take Massive Action

In today's digital world, one of the biggest challenges that we face is information overload. This is what puts people in a passive state of mind. For every hour of learning, I spend at least three hours implementing what I learn. This 3:1 ratio is a good amount.

Learning is one thing, but it doesn't have any value unless you actually do something with it. I have found that the people that actually invest in something are 100x more likely to do something with it.

I've got a YouTube channel that reaches 1.2 million views per month. One thing that I'm always amazed by is that most of the people that watch my videos don't do anything with the information that I share. They are in a passive mode of consuming.

I've invested more than $100,000 in my own education and success. Some people think that I'm crazy for doing that. However, I make millions of dollars per year because I am willing to invest in all aspects of my life. The results speak for themselves.

I remember the one time that I spent $10,000 on a one-weekend seminar.

Every single word that the speaker said I wrote down. I valued the information so much more because I paid big bucks for the experience! The more you pay, the more you pay attention.

Knowing something is not enough. Build the habit of action. You learn so much more by doing versus sitting and learning. There is a famous quote from Confucius that says “I hear and I forget. I see and I remember. I do and I understand.” 

Not only do you need to do more, but you need to do it consistently. This is when you know you are living something. That is when you get results in life.

When you are pursuing success you will encounter barriers. What I love about an online business is that will always expose your weaknesses. It will point out what you aren't successful at, whether that's your lack of consistency, focus, or ability to take action.

People who have a growth mentality see this as a good thing. It brings awareness to what they need to address in order to work on themselves and break through to the next level.

In any journey of success, you need to be committed to personal growth and development so that you can resolve the inner barriers that are holding you back. As Jim Rohn once said, “You need to work harder on yourself than you do on your job.” He believed that your income seldom exceeds your level of personal development. The more that you grow, the more that your income will grow.

Step #4 – Focus More On Adding Value Versus Just Making Money

A lot of people start a business thinking about what it will provide for them. They want to make X amount of money. It's all about them and their needs. The problem is that you can't succeed with this mentality.

People who have a 9 to 5 job are in more of a value-extraction mentality. They look at the clock and wait for 5 pm to roll around. Their paycheck is the only thing that matters so they do the minimum effort in order to get paid. They don't have the mentality of providing massive value to their employer.

The reality is that you only get paid in business based on your contribution. Your job as an online business owner is to create products or services that solve other people's problems. When you do this, they will pay you in exchange for the value that you provide them with.

If you own a business, you can't do the minimum. You only get paid based on your results and the value that you add. People do business with people that they like, know and trust. End of story.

If I am creating YouTube videos and the only intention behind filming is to get subscribers and views, that energy will come across in my content. If you don't benefit from my knowledge, I won't make any money. You need to drop the selfish mentality and put yourself in the mentality of a giver. You have to be OK with giving more value than what you get back in return.

When I provide massive value to people and overdeliver, I end up creating raving fan customers. As a result, people end up wanting to buy more from me. I give away so much content for free that I don't really have to do much marketing or promotional work.

Step #5 – Surround Yourself With Like-Minded People

One of the biggest challenges that I see a lot of people face is trying to build an online business with unsupportive family and friends. As a result, they are subconsciously held back by the very people that are supposed to be there for them. People may tell you that you are wasting your time, money and energy.

Don't allow others' limiting beliefs to project onto you. If you do, it will plant a seed in your mind, create doubt and hold you back in life. These people are toxic. You cannot have this type of energy in your life.

You need to find a solid community, which I like to call an empowering ecosystem. These are like-minded people that are already living the same reality that you want to live. They will understand the language that you speak.

There are a lot of great online communities that you can be a part of.

I always create private Facebook groups with every course that I design. In-person interaction is even more powerful. If you can join a mastermind group or attend seminars, do it. As soon as you enter into high-vibe environments like these, your entire belief system changes.

Physically being around people that are doing great things in life makes building an online business feel more real. Free events are still good, but they don't beat paid ones. I go out of my way to attend paid mastermind events where I am able to surround myself with people that are more successful than me. This doesn't intimidate me. Rather, it motivates me to keep growing and level up my business.

As someone once said, “If you are the smartest person in the room, then you're in the wrong room.” You want to be in a room where you feel super uncomfortable because that is how you will grow the most.

Step #6 – Commit To Your Online Business For At Least One Year

I have a few friends that have tried to build online businesses over the years, but they haven't been able to achieve success. The reason why is because they don't finish what they start.

They've got the shiny object syndrome. Once the newness of something wears off, they jump to the next best thing. They don't understand that you will never master anything with his strategy. Whatever it is that you are pursuing, you have to commit at least one year to it.

Put everything that you can into your business. If you fail after 1-2 years of building it, that doesn't mean that you are a failure.

I struggled for years to make any money in my online business. I failed thousands of times. However, the lessons that I learned from my failures were steppingstones to the success that I have today. You need to have patience and trust the process in order to get the results that you want. Don't give up on yourself or your dreams.

These are the 6 steps to success that have allowed me to achieve financial freedom. 

Financial freedom can be yours. It all comes down to how bad you want it. In the words of Robert Kiyosaki, “Financial freedom is a mental, emotional and educational process.” Now is the time to start taking advantage of the benefits that having an online business can provide.

Are you ready to go all in and create the life of your wildest dreams?

Are you ready to learn which online business is best for you? CLICK HERE to take my free online quiz!