I have recently launched my second legitimate business this year. Starting a new business with $0 revenue is no joke. I once heard a great analogy that starting a business is like trying to push a train at rest by yourself.
In the beginning it seems almost impossible… everything is hard, you don’t seem to see any immediate signs of improvement, and you may even doubt yourself or your initial plan.
I have heard from several different sources that if your business is not generating a decent amount of profit around year 2 or 3, you should take it out back and “kill it”. To me this sounds very realistic, as I have found you can easily prove proof of concept these days with the ease of technology and the leveraging of various platforms.
In my opinion, the most important part of starting and keeping a business afloat is cashflow, marketing, and sales.
At this point in time, there are certainly platforms that are less expensive and much more effective for conversions.
From everything I have read and from friends of mine who run online businesses, instagram, google and twitter are the platforms that you want to be spending your time and money on.
I currently run a successful advertisements on google for my business. Our average sale price is $349. Right now we spend about $100/day on google and generate anywhere from $500-$3,000 per day in revenue depending on the weather (hint).
Another great resource is to use instagram influencers to drive sales and promotions to your page. I have buddies that either pay flat rates or percentages to instagram influencers in exchange for a certain amount of promotions on their pages.
If you are selling an info product or physical product, your best course of action will certainly being reading books to get started and watching youtube videos of people who have done what you want to start.
This book by Russell Brunson called Expert Secrets. is great for people wanting to start their own personal brand or sell digital products. For physical products I recommend Ryan Moran’s book 12 months to 1 million.
These types of books, coupled with online marketing + good ads to a landing page are certainly a formula for success, with either a new product or a proven product.
Whatever you are getting into, make sure you are prepared mentally and financially so that you are able to “weather the storm”. Don’t become another statistic. Most important of all, be PATIENT and believe in the process!
The best part about starting an online business and selling something like a digital product is that you can get feedback immediately in the form of interest or no interest.
That period of testing your product can be done quickly and very inexpensively.
It quickly validates your product(s) for you so you don’t have to sit there and waste any time. For most of you, your first business is not going to be a home run.
The more chances you have at bat, the better the opportunity that you will eventually hit a home run. It’s a numbers game.
So much of success is luck and timing. People that make it do not give enough credit to those two. If you think about it, they under emphasize those because it takes away credit from the individual themselves.
Stay the course and realize that this journey can take you anywhere. The path is never clear cut for most entrepreneurs. Don’t be resist to change and don’t let you ego stop you from making the right decisions!
You can find either of these Books below:
12 months to 1 million – Ryan Daniel Moran
Expert Secrets – Russel Brunson
Happy Hunting!
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