Guide to Starting and Growing an Online Business

There are dozens of ways to monetize an online business, ranging from advertising and affiliate income to selling ebooks. The philosophy we advocate in this course is that the best way to generate income online is not from one source but from multiple sources.

A key question then becomes: where is the best place to START?

While you can kick­start your monetization journey in many ways, we believe the most lucrative approach when you're just starting out is to create a SERVICE product based on expertise and skills you already have.

Why a service­based product, you ask? For one, it can generate HIGH DOLLAR INCOME
almost immediately, but more importantly, it’s one of the quickest ways to VALIDATE your offer to world. You see, your biggest risk in developing an online business is spending months developing something that prospective customers don’t really want.

There’s another good reason to start with a service based product: Your future online products, such as those mentioned above, can be created based on LIVE feedback from followers and paying customers. In fact, later in this course, we’ll learn how to turn your audience feedback into insight and use it to create your second income source!

Key action item: Create a list of a few ways you can provide VALUE to others, mark out the ones you are NOT excited about, and then determine which one would grab the MOST INTEREST. Remember, our goal is to just get started FAST and move with momentum in one direction.

Without the right foundations ­ a clear message, a good pricing strategy, a sense of credibility, an irresistible offer, a positive emotional connection, and proper marketing ­ your offer can be lost in the sea of other offers.
This is where a well thought out plan for your offer can be extremely useful.

We are talking about a simple ONE­PAGE ACTION plan that addresses only 3 essential components: 1. Your powerful statement, 2. Your measurable objectives, 3. Your core offer.

On day 3 we discussed the first component: Your powerful statement.

This is important. One of the main reasons many service providers fail to attract customers is that they struggle to articulate the exact solution they offer in a clear, concise, and compelling way.

Key Action Items: To answer the following two questions: 1. Who is your target market? 2. What is the Number One most powerful RESULT or BENEFIT you help your potential clients achieve? Your powerful statement is a combination of these two answers: “I help [Your answer to question 1] to [Your answer to question 2].”

Creating a product without a concrete outcome is like having a ship without a port ­ you’re not entirely controlling the direction of your business.

Your overall outcome, of course, is to win customers over. But the measurable objectives are like mile markers on the road ­ they allow you to evaluate your progress every step of the way.

The easiest way to make your objective measurable is to simply associate a number with it. For example, “I will have 25 new clients by the end of the year.” However, this is only half of the story.

The other half is to set incremental milestones that YOU have direct CONTROL over. For example, “I will publish an attractive sales page by the end of the month” or “I will actively market my services every day next month, until I get my first client”.

By focusing on what you have control over in the near future, you’re less likely to get discouraged and throw in the towel.

Key Action Items: Start with ONE long term objective (preferably yearly) and don't be afraid to aim high. Ask yourself “What is the specific and measurable outcome I’m looking to achieve?” Once you have your long term goal, set smaller checkpoints along the way, and focus on what you have direct control over. Lastly, don’t forget to set firm deadlines in order to create a positive sense of urgency.

On day 5 we covered the last part of your one­page ACTION plan which provides a great opportunity to uncover some of the most important components of your proposed solution.

We focused on 10 categories:

1. The Problem ­ What is the main problem you're solving?

2. The Solution ­ What is your solution and your product’s features?

3. The Why ­ Why should your prospective customers choose you and not your competitor?

4. The Benefit ­ What are the top benefits your clients receive by working with you?

5. The Result ­ What results can clients expect from using your service?

6. The Price ­ How much will your product cost?

7. The Client ­ Who are your ideal clients and where are they hanging out?

8. The Objection ­ What would be the main objections to your offer?

9. The Urgency ­ Why should someone act immediately on your offer?

10. The Credibility ­ What kind of credibility do you have?

Key Action Item: In a word document or on a piece of paper brainstorm all 10 categories and make sure you use a short paragraph for each ­ there is no need for a super detailed description. Remember, we want a one­page plan that can QUICKLY turn into ACTION.

On day 6 we used a sales page structure example to demonstrate how to construct a winning sales page.
We identified the following key sections:

1. Attention grabbing headline ­ Write a headline that catches attention and offers results to the reader.

2. Open with an emotional hook ­ Pull the readers into the content of your sales page by connecting with them on a deep EMOTIONAL level right from the start.

3. Vividly paint the problem ­ Describe the problem/s causing the pain or preventing the pleasure in more detail.

4. Include yourself in the conversation ­ Show the reader you understand what they are experiencing and that you get it.

5. Show credibility ­ Emphasize why the reader should listen to you, take you seriously, or believe you.

6. Reveal your solution ­ Introduce your product or service. Explain to the reader what it is, what it isn’t, and what's in it.

7. Include a list of key features: Spell out in a bullet point list the features of your offer.

8. Add a list of core benefits ­ Be sure to communicate not only features but also the underlying benefits of your offer.

9. Consider qualifying your prospect ­ Qualify the reader by making statements about who it is for and who it is NOT for.

10. Embed a well crafted Call to Action ­ Wrap up your sales page with a clear and compelling Call­to­Action, requesting the reader to take the next step.

11. Make an offer hard to refuse ­ Make an irresistible offer that can help you seal the deal.

12. Guarantee your offer ­ Give a money back guarantee or some other satisfaction guarantee with your services.

13. Proof that your service actually works ­ Ask for short testimonials from anyone who has ever used your service, and embed them at various places on your page.

14. Wrap up with a positive note ­ Wrap your sales page with a line about being excited to work with them, get started or see them taking action.

Key Action Plan: Create a sales page in your Wordpress site. You can take payments on your sales page with PayPal or Gumroad.

Links mentioned:

https://www.paypal.com/

https://gumroad.com/

In this tutorial we show you how to put a Paypal button on your website.

Links mentioned:

https://www.paypal.com/

In this tutorial we show you how to use Gumroad to put a "Buy Now" button on your website.

Links mentioned:

https://gumroad.com/

This a review of all the key concepts and action items from the past 6 sessions.

These days, on average, you’ll need to connect with your prospective customer seven times before they will eventually buy from you. If you go into a “pitch mode” WITHOUT first building TRUST and a relationship with your prospects, you’ll have a hard time converting them to paying clients.

This is where building your own email subscriber list can be a GREAT asset.

An email list can help you establish a long­term relationship with your visitors, validate your future products, keep in contact with your prospects, promote your business, drive traffic, and most importantly, it can raise your bottom line.

Key action item: Head over to Aweber (or MailChimp) and sign up for an account.

In this tutorial, you'll learn how to sign up for Aweber.

Links mentioned:

Aweber

There are some basic settings that need to be set as you create your first list.

Here are the important ones:
­

List Name: A unique name that identifies the list. ­ List Description: A few words that describes the subject of your list.

"From" Name and email Address: What subscribers see when the receive an email. ­

Contact Address: Your residential or business address. ­

Notifications: Receive an email notifying you of when a subscriber joins or unsubscribes. ­

Company branding: This includes your company name, website address, etc.

Key action item: Head over to your chosen email service provider control panel and start setting up your subscriber list.

Links mentioned:

Aweber

In this tutorial you'll learn how to create your first email list in Aweber.

Links mentioned:

Aweber

In this tutorial you'll learn how to set up a confirmed opt in in Aweber. This is also known as a "double" opt in.

Links mentioned:

Aweber

On day 10 we finalized the setup process with the configuration of your opt­in form and the first message to your future subscribers.

We recommended that you keep the number of fields in your new opt­in form to the minimum. The less fields on your form, the higher the conversion rate. In fact, my forms often contain only the email address field. If we want to be more personal, we also collect the subscriber's first name. But that's it ­ anything more than that and you're at risk of hurting your conversion rate.

Key action items: 1) Set your first message to your future subscribers. 2) Configure your opt­in form and publish it on your site.

Links mentioned:

Aweber

In this tutorial you'll learn how to create an autoresponder message in Aweber.

Links mentioned:

Aweber

In this tutorial, you'll learn how to embed an Aweber sign up form on your WordPress website.

Links mentioned:

Aweber