I would like to share with you the ABCs of online business growth. In today's digital world, if you aren't growing, you're dying. The ability to create long-term sustainability is one of the biggest challenges that entrepreneurs face. In order to stand the test of time, you need to keep growing.
Growing an online business requires a lot of energy, commitment, and hard work. Entrepreneurs are faced with constant challenges, any one of which can cost them, if you aren't prepared. The harsh reality is that only about 50% of online businesses survive. If you don't want to be one of these numbers, it is imperative that you build a strong foundation.
Entrepreneurs who run successful businesses understand that it takes a carefully planned and executed strategy in order to stay on top of their game. In the words of Dr. Graeme Edwards, “It’s not the plan that is important, it’s the planning.” Are you ready to take your online business to the next level?
Do you want to learn how to accelerate the growth of your online business? CLICK HERE to join my Online Business Mastery program!
If you run an online business, there are a series of strategies that you can implement in order to accelerate your growth. Let's explore the ABCs of online business growth:
1. Always Be Improving
In life and in business, you always have to be growing, improving, and evolving. The world is constantly changing, and if you don't adapt to those changes, you will get left behind. I attribute so much of my success in my online business to the fact that I commit to constant and never-ending improvement every day of my life. I am so committed to self-development, that I built an online brand around it.
In business, constant improvement refers to focusing on activities that add value, and reducing everything else (Kos, 2017). Focus on constantly updating your skills and knowledge, so that you stand out as a thought leader in your industry, and provide massive value to your target market.
Moreover, continuously improve your products, processes, and services, over time. True business growth requires that you do so. In the words of Lou Holtz, “In this world, you're either growing or you're dying, so get in motion and grow.”
2. Build An Online Brand
More than ever before, being a successful entrepreneur requires that you build an online brand. It is what gives you the ultimate competitive advantage. A lot of people want to build an online business, however, they approach it with the wrong mindset; they create a product or service, without building a brand.
The reality is that brands outlive products. For example, when the company, Kraft bought Cadbury for $19.5 Billion, what do you think they bought? The chocolate? No, they bought the brand (Goodson, 2012).
Not only does an online brand create awareness of who you are and what your business stands for, but when it's executed strategically, it is the easiest way to foster the growth of your fan base, while simultaneously elevating your credibility. The reality is that people do business with people that they like and trust.
Jeff Bezos said it best – “Your brand is what other people say about when you are not in the room.” Choose wisely. Your online business growth depends on it.
3. Create Added Value For Customers
In today's online world, if you don't provide high-quality content to your customers and give them what they want, your competitors will do it for you. Your online business isn't about YOU. Rather, it's about meeting your customers' needs and adding value on a consistent basis. This is one of the most effective ways to experience business growth.
Creating business relationships is not about selling, its' about helping. This is where a lot of entrepreneurs make mistakes. Drop the sales tactics and start engaging, educating, communicating, and solving your customer's problems. Figure out what is important to your target market and how your product or service will benefit them, and then, DELIVER.
Adding value is what has allowed me to build a 7-figure online brand. In the words of Tony Robbins, “If you add the value, you will become the brand. Find a way to add more value than anyone else does.”
Growth doesn't have to be an uphill battle. Try implementing these ABCs of online business growth into your own business. You will surprise yourself how effectively these strategies can accelerate your business growth.
The digital world will continue evolving and growing, but the question remains, “Will you?”
Do you want to learn how to accelerate the growth of your online business? CLICK HERE to join my Online Business Mastery program!