Over the course of the last 13 years, I’ve built multiple businesses across various industries, reaching six to seven figures in these businesses with some successes and failures along the way that helped my businesses grow. Based on what I’ve learned from this experience, I want to share the 6- to 7-figure online business strategy that’s worked. It can also work for you as you seek to grow your own online business. Using this blueprint, you can experience long-term success.
Regardless of the type of online business you want to start, whether it’s a side hustle or a business you want to become a full-time project, the following 7-figure online business strategy will help you reach your goals.
Who Do You Care About?
Before you begin pursuing your business objectives, whatever they may be, it’s necessary to determine who you care about. Of course, the first people to come to mind will likely be yourself, your family, and your friends. However, when it comes to your business, you need to think about the kinds of people you care about in terms of customers.
At Ecommerce Empire Builders, we’ve seen many people come and go as they excitedly start their business, only to wind up disappointed with the results and quit. One of the main issues that are causing many of these people to quit is the fact that they’re selling to audiences who they don’t know or even care about. The key to success with an online business is to have a good understanding of your prospective customers. If your only goal is to make money when you go into any type of business venture, you’re not likely to resonate with audiences and see the kind of income you want.
Sell Products That You Would Use
In figuring out the audience you care about and want to sell to, it’s often easiest to think about what types of products you would use yourself. We started some of our successful businesses with the basic idea of, “Why don’t I sell stuff that I care about?”
We hoped that this personal investment would show through the marketing efforts. It ultimately played a huge role in this 7-figure online business strategy.
Consider your personal interests, hobbies, or passions. If you can find a specific niche you actually care about, then you’ll likely be more invested in creating the type of customer experience that would impress you and, subsequently, your audience. Your niche could include products you cared about in the past or ones you currently purchase.
If you spend too much time looking for the perfect product that appears to be the biggest winner, it won’t matter if you find it unless it’s something you care to sell. If it doesn’t interest you, the chances are that you won’t see long-term success with it.
Figure Out Your Offer
With your audience and niche determined, it’s time to decide on your offer. We’ve found that when we asked people about what they were selling, many of them would immediately jump into the product. But this isn’t what will drive your success. Instead, you need to think about the actual value of your product to the people who use it, including yourself.
The big question you should be asking is, “Why should people buy from me?” What is it about your offer that would lead people away from your competition and toward your business? Find out what can differentiate you from the sea of businesses selling the same product or service.
Set Up Your Funnel
Have you pinpointed your niche and offer? If so, it’s time to develop your sales funnel to sell your offerings. Your funnel will be where you send your audience in your niche (to whom you’ve presented your offer).
Pretty much every store you encounter uses some type of funnel. Some funnels are effective, and others need some work. Whether you’re at a fast-food joint and the cashier doesn’t try to upsell you, or you’re shopping online and see plenty of enticing upsells that lead you to spend more, that’s a funnel at work.
When you’re developing a funnel, focus on its true purpose, which is to create assets for your business. The funnel is what helps you grow your business by collecting emails and phone numbers from potential customers, along with other information that can lead people toward a sale.
One key question to ask yourself as you create your website and funnel is, “What’s next?” Think about the journey your customers take as they engage with your business, from initial ads to repeat purchases.
For example, what’s next after people see your ad? What’s next when they enter their contact information? Then, what’s next when they add items to their shopping carts? What’s next after they first buy your offerings? If you consistently think about the next logical step in the buying process, address it in your funnel.
As you figure out what’s next in your funnel, you can choose from a wide range of potential products to enhance the value you give your customers — everything from eBooks and courses to accessories and other physical products. If you’re not working toward that “next” after the first offer, you’re losing out on many chances to maximize your income and connect with customers.
Your traffic will serve as the fuel that feeds your funnel. Lead them into the offer that speaks to your niche. In short, it’s the final piece of the puzzle when building your online business.
It’s important to keep in mind that there are many types of traffic out there. This includes organic traffic that comes from search engines, social media posts, YouTube videos, and other channels. To attract high-quality traffic from interested prospects, you need to develop and share content that brings value to your audience. Regardless of what you’re selling, you need to provide relevant educational and helpful content that audiences enjoy.
Again, bringing traffic to your business comes down to doing what you love. If you enjoy your niche, you’ll be much more prolific. You’ll create plenty of content without it feeling like work. As a result, that passion will come across in your content. It will yield the kind of results you want on a long-term basis.
Stick With This 7-Figure Online Business Strategy to Succeed With Your Online Business
Using this 7-figure online business strategy can help you excel with your online business, regardless of your offerings and niche. However, in addition to taking each of these elements into consideration, you need to practice persistence. If something in your strategy is inefficient and doesn’t work at the outset, optimize it and find out what works.
Otherwise, if you’re simply ditching every venture because something goes wrong, you’ll never be able to realize your ecommerce dreams. By finding a niche you love, developing a solid offer, setting up a good funnel, attracting traffic with lots of top-quality content, and sticking with your own 7-figure online business strategy, you can flourish.
Learn more about how to earn a full-time income online with your business. Reserve your seat at my free ecommerce masterclass today. You can also subscribe to my YouTube channel for frequent tips and insights.