subject: 5 Keys To Running A Successful Online Business [print this page] 5 Keys To Running A Successful Online Business
Okay guys, quit listening to podcasts about the "law of attraction." Throw out those subliminal "get rich mindset" tapes. Cut your time meditating and repeating affirmations and get to work! Just like in the offline world, some people succeed online and others fail miserably. There is no overnight success; it takes hard work. Here are the 5 keys to running a successful online business.
1. Persistence A successful entrepreneur will tell you that to run a successful business you need some serious persistence. When you don't have that, you give up at the first sign of resistance. And you WILL find serious resistance. A new business will most definitely face highs and lows, so persistence is needed to be able to weather the storm. When you're persistent, you'll stop at nothing to make your business succeed.
2. Commitment When an entrepreneur doesn't fully commit to making their online business succeed, it won't. Commitment and persistence are best friends in the business world. You have to marry your business, for better or for worse, until death do you part. You will have your good and bad days, but being committed you will do whatever it takes to make your business succeed. This could mean doing a complete 180 and changing directions in your marketing, or revamping your entire business model after you realize that it just won't bring profits.
3. Market Research This is a HUGE key in the success of online business. An entrepreneur must know who their market is. They must know who their typical customer is. They must know where they shop, the types of things they buy, how they think and feel, and any other information they can find about them. Narrowing down your market to the smallest segment possible is the best way to find people ready to buy the product. Use online tools to monitor how they behave and what they want, and feed the hungry crowd.
4. A Great Product Or Service This should go without saying, but some internet marketers seems to forget that your product should actually work and be high quality. When you offer your customers high quality products or services, your products will virtually sell themselves. This is always the spot you want to be in if possible. On the flip side when you've got an inferior product, you'll spend more of your time and energy trying to convince people to buy than if you had a great product to start with. Never try to rip people off for a quick dollar. If you offer them quality products and services they'll be happy to buy from you over and over again which guarantees money in your bank account year after year. This is how you build a long-term relationship with your customers.
5. Great Customer Service This goes with offering a great product or service. When you go above and beyond what people expect, your results will ALWAYS be better. You'll make more money, and have more happy customers than you could imagine. This in turn will lead to those happy customers telling others. There is no better advertising than word of mouth, and that is how you generate word of mouth advertising.
And remember that in the online world, it is content that gets you traffic. Forget about slathering the web with low-quality backlinks; hook human readers with your great content and let their fingers do the clicking.
Starting an online business is a great way to make extra money, or gain your financial freedom. With the keys listed above, you're on your way to building a money making empire that will provide you resources for years to come.
