Have you ever wondered why some online businesses just seem to work? They thrive, they have a tribe of loyal followers and customers, and importantly they’re profitable. Others, sadly, just don’t seem to go far, or don’t provide a sustainable income. They become an expensive hobby at best.
The good news is that successful businesses all have 6 things in common. Fortunately I own a couple of those thriving businesses, but of course have also had 1 or 2 not-so-thriving experiences so I’m very happy to share from my mistakes and successes.
So what is this recipe for success and where can you get it? Keep reading … it’s here!
Ingredient 1. Strong Foundations
Building a business, like building pretty much anything, requires strong foundations. These foundations include things like a Positive Mindset; Research; Planning & Goal Setting; Understanding what problem you’re solving; Knowing your ideal customers like you would a close friend; setting clear boundaries around your work time, space, and place; ensuring you have the right team of mentors, advisors, and supporters; strong financial management tools & systems; programs that can grow with your business (such as an automated database) taking care of yourself; and (importantly) investing in your own personal and professional development throughout the life of your business.
Ingredient 2. Story Telling
Authenticity is your number 1 competitive advantage. People do business with people, not brands or businesses … and they want to know who they’re buying from or working with. This means knowing and sharing (appropriately) your own story … your WHY. This ingredient also calls for a short sharp elevator pitch and the ability to clearly state what sets you apart … and then share that with the world.
Ingredient 3. Findable & Shareable
Just like stars in the sky, some online businesses shine brighter than others … they are easily Findable. There are a number of ways to be findable. SEO is one; hashtags are another; and having regular website updates via blogs, links to social media accounts and other updates are another. Once you’re findable you then need to be sharable. There’s quite a science behind why people share some things and not others, but in essence offer your clients and followers easy ways to share your posts, content, pages and don’t forget to ask them to share!
Ingredient 4. Social Media
With so many to choose from how do you decide which social media platforms to invest your time or money in? The ones your ideal customers are using. Once you have a presence you need to be posting valuable content at least daily, and don’t forget hashtags. Ultimately social media should be used to drive brand awareness, customer loyalty and sales … and that will mean using social media to get people off social media and into your “air space” (website, database, sales page etc)
Ingredient 5. The Media
Building strong relationships with journalists is a good first step in eventually having your story told via print, online, radio, and/or TV coverage. The next step is writing a pitch that is newsworthy, send a personal message with the pitch, and then always follow up.
Ingredient 6. Partnerships
Partnerships are game-changers. Through 5 simple marketing partnerships my app was marketed to over 1 million of my potential customers in a 6 week period of this year. You need to be in this space. First ensure your business is partner-friendly; then identify some ‘warm’ prospects; ensure you know what assets you have to offer (believe me you have more than you realise); ensure the partner shares your values, objectives and target market; and create win-win partnerships!
I hope that Ingredients List provides a little inspiration to any mumpreneurs with an online business. If you’d like to really check how your business is tracking when it comes to shining brighter than the other stars, you can take a free survey over here.
Have a wonderful day!
Tara O’Connell is creator of the globally successful App “The Baby Diaries”. She is an award winning entrepreneur, author, speaker and CEO at Appsolute Results, where she inspires and empowers female entrepreneurs around the world to take action and achieve online success every day.
After spending 8 years as CEO of a national not-for-profit organisation, Tara created The Baby Diaries app shortly after having her second child. Her decision to exit the world of constant travel away from her family and working long hours for someone else meant ensuring The Baby Diaries was a global success. The App has now been downloaded on every Continent in 15 different languages and was recently showcased by Nine’s Today Program as one of 3 must-have apps for new parents.
With only 10% of online businesses being ‘successful’ Tara’s journey to success is a guiding star for mumpreneurs working in the online business world. Tara has combined all of her knowledge of creating a successful online business into a simple 6 step online program. This program and many free tools, can be found at www.appsoluteresults.com