My Internet Business Success Formula for Beginners – Your Proven Path to Success in 2021

My Internet Business Success Formula for Beginners – Your Proven Path to Success in 2021

To put it mildly, online businesses are turning out millionaires in droves and this is the best time in all of human history to jump online and create wealth for you and your loved ones faster than you ever thought possible. This is not utopian.

It took companies at least a hundred years to go from humble beginnings to global brands. Global brands such as P&G (1837), Nestle (1866), Heineken (1864) easily come to mind.

On the other hand, Microsoft (1975), Apple (1976), Amazon (1994), and Google (1998) each took less than 10 years to become household names.

Its rise is not limited to the tech giants. Individuals are making a killing online in fields as diverse and mundane as online training, fitness, and writing (aka blogging).

Take Brendan Burchard for example. It is an online trainer that started around 2009. Today it has over 3 million students in over 100 countries. Hiss’ impact is so huge that Oprah calls him “one of the most successful online trainers in history.” His fortune is estimated at N22 million.

Another example is Ramit Sethi. He started his first blog in 2004, and in 2018 was featured in both Fortune and Forbes. In the same year, Forbes put Ramit side by side with Warren Buffett and estimated his fortune at $25 million.

Getting big isn’t just limited to men. Chalene Johnson, the global fitness icon, has an estimated net worth of $10 million, while Marie Forleo is estimated at $14 million.

While Chalene Johnson has been a household name as a fitness trainer for more than 30 years, Marie Forleo has shot to fame in the past 10 years, aided by her Marie TV, online training, coaching and books.

The fastest, easiest and cheapest way to get big is to use the power of the internet. As internet gurus say, to succeed online, do what works. In short, don’t try to reinvent the wheel.

The Internet is a paradigm shift. While it has created enormous wealth for those who command its ecosystem, it has also accelerated the gap between those who know how it works and those who don’t.

Generally, when there is a paradigm shift, the knowledge base is reset to zero and everyone has to learn all over again. To learn quickly and easily, it is necessary to follow a proven path.

In order to succeed and thrive, you must follow what I call the Internet Business Success Formula for Beginners. As you know, there is order in the universe. If there was no order, there would be chaos. My Internet Business Success Formula for Beginners is a short but powerful framework that shows you how to succeed online. If you follow it, you will succeed. If you don’t, you will fail.

The formula consists of 7 steps. Here they are:

Study day and night
Despite its apparent plug-and-play simplicity, the Internet is a complex ecosystem. To succeed, you have to study day and night, because change is fast and furious, with fundamental algorithms changing overnight. Learning allows you to have depth and breadth and keeps you evergreen
Here are the main things you need to learn. I study:
• How the Internet is evolving
• How to be visible
• How to connect with people
• How to make a list
• How to write scripts
• How to create products
• How to make your products discoverable
• How to make money online

Be visible off and online
To be visible, you need to increase your footprints off and online so that you become known and start building trust and relevance. Here are the things you need to do to increase your visibility:
• Develop evergreen intellectual properties (books, courses, study guides, etc.)
• Have a home base (website or blog)
• You have embassies (social media platforms)
• Have listening posts (mailing lists, social media platforms, podcasts)
• Have satellite towns/cities (guest post, befriend social media influencers.)
• Organize events and develop your own platforms, such as a YouTube channel.
• Courte the media

Building relationships
To turn strangers, visitors, friends and former enemies into loyal customers and true fans, you need to build relationships. While it makes sense to have a large base of connections, it is more important to build a base of genuine fans. Here are the things you need to do to build relationships:
• Give away valuables such as books and e-books for free
• Reach out to your other online influencers
• Extend a hand of friendship to strangers you meet by offering advice
• Help with specialist information where you can, for example in forums
• Make recommendations in areas where you have authority; do not be shy
• Bring people together as a connecting element
• Ask for help wherever you are challenged, again don’t be shy.

Create a mailing list
Make building your mailing list a priority so you have someone to market to and sell to tomorrow. There is a fierce debate online which comes first: product mailing list. As a beginner, don’t get distracted by these chicken-and-egg arguments. The list and the product are two sides of the same coin: your online business. Just keep in mind that with a list you can sell what you don’t have through affiliate marketing, but a product with a list will get you nowhere. Also keep in mind that as a beginner you will not be able to do affiliate marketing. So build your list and pursue your product impartially. Here’s how to approach building your list:
• Start a mailing list from day one (at least you already know).
• Start with low hanging, medium hanging and finally high hanging fruit
• Build a segmented list so you can personalize your messages
• Use an accessible mail or contact management system
• Invite people to join your list personally and be persistent
• Give away valuable incentives such as books, video tutorials, and more.
• Keep it day and night

You have something to offer (create products)
Create products to sell so you can add more value to your followers. People will follow you because you have something to offer them. When you do, you will make money, but making money should not be your primary consideration. When you do it well, the money will come. Here are the things you need to do:
• Equip yourself with knowledge and wisdom
• Write and hone your intellectual properties to perfection
• Develop irresistible courses, events and platforms
• Mastering the necessary technologies for production
• Mastering the necessary delivery technologies
• Be consistent and focus on things that will last, the evergreens
• Specialize so people know what you are about

Learn how to buy and sell online
Marketing and sales are the fulcrums that bring in the money. The most successful online business owners excel at marketing and sales. Invest a large percentage of what you generate into marketing to generate more sales and continue to grow your business. Here are the things you need to do to increase your marketing and sales:
• Learn how to use marketing to grow your business
• Understanding the psychology of buying and buyer behavior
• Learn how to build your business channel
• Learn how to build and optimize your sales funnel
• Learn how to create sales scripts that convert visitors into customers
• Learn how to use social media for marketing
• Learn how to set up your landing pages
• Keep selling with pleasure, because selling is human, but don’t be salesy

Master strategies for long-term profit
Sustained online success is a marathon. Commit to it for the long haul. Develop an understanding of how efforts are monetized online and where money is made along the value chain. Know that Rome, as they say, was not built in a day. If you pursue an online business like sprinting or running a hundred meters, you will give up too soon and fail. Here are the things you need to do at this point:
• Master and perfect your winning game plan
• Master the four phases of online business (learning, audience, product, sales)
• Develop a long-term view
• Keep things evergreen
• Diversify into adjacent profitable areas as you become more confident
• Develop offline assets to reduce your online risks.
• Iterate and build on the principles of excellence

Here they are, the seven planks that represent my formula for Internet business success. You might be wondering where the technology is, after all we are talking about the internet. The truth is that technology permeates all seven steps, but technology remains what it is, an enabling factor. Technology allows you to scale and reach thousands online, but in the end, relationships triumph. So we are talking about high-tech, high-touch.

In the long run, you need to master technologies that allow you to study day and night, be visible off and online, build relationships, build a mailing list, create products, learn how to advertise and sell online, and master strategies for long term profit.

Knowing the technical aspects or technology is important because you are dealing with machines and the technology will help you scale and automate, but it is not a prerequisite for success as a startup.

Success online is anchored in two magic numbers: 10,000 customer base and $10,000 monthly recurring income. You can easily achieve both if you follow the 7-step formula for internet business success that I have given you in this article. Once you reach these numbers, you are ready to use the scaling technology. This will be the subject of another article.

#Internet #Business #Success #Formula #Beginners #Proven #Path #Success

Leave a Comment

Your email address will not be published. Required fields are marked *