356. Building Your First Online Business from Scratch
Most people fail when they start their first online education business and it usually comes from a long list of things like wrong niche, wrong messaging, wrong ideal client, low prices, no systems and so on.
So today, we will be sharing the 5 steps we would follow if we were starting Daily Path Academy from scratch tomorrow.
Decide on a target market that has a problem we already know how to solve. Businesses exist to solve problems. By finding a target market with a problem we already know how to solve, we will be positioning ourselves to provide expert guidance that helps our clients get the results they want. Think about when you accept advice from someone or pay someone to do something. You want to receive advice from someone who knows what they’re talking about because they have experience with it. If you’re starting or thinking about starting your own online education business, what’s a target market that has problems you know how to solve?
Create a roadmap for solving the major problem. This allows us to organize all our information to a definite end which is much more powerful for getting our clients results. If we have a clear and concise roadmap to solving our target markets problems, we are much more likely to deliver on our promise consistently, which is great for business sustainability.
Decide where to host our online business. Our perspective on this has changed over the years. At first, we felt like it wasn’t necessary to invest a few hundred dollars per month on the software we use to run Daily Path Academy but knowing what we know now, we wouldn’t cheat ourself in this area. The software you use to host your online business should be able to take payment, automate workflows, deliver exclusive material, keep track of your customer data, and provide analytics that help you make informed decisions. For Daily Path Academy we use the platform Kajabi because it is a great all-in-one solution for experts offering speaking, coaching, consulting, or courses.
Find clients for our business. Where you decide to generate demand for your business online will depend on your audience. Being that we work with entrepreneurs and businesses, LinkedIn is what we prefer to use although Facebook & Twitter work well for B2B professionals. If you’re B2C Instagram or TikTok is probably something that you want to consider.
Start a podcast to grow our network and get bigger clients. The reason why we would do this is because when it comes to selling, there are 3 things people must be certain about before ever buying from you and a podcast helps with those 3 things. The first thing a buyer must be certain about is the product or service you’re selling, the second thing a buyer must be certain about is the salesperson selling the product or service and the final thing a buyer must be certain about is the company selling the product or service.
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