Today marks the beginning of an exciting five-part series I’m calling Online Business Basics.
As we step into the new year, it’s the perfect time to revisit the foundational aspects of our businesses. So, if you’re feeling like 2023 didn’t quite go as planned, or you’re ready to refocus on the fundamentals, you’re in the right place.
In Part One of Online Business Basics, we’ll take a 30,000-foot view of online business in 2024. Let’s get back to the big-picture movers that truly propel your business forward.
Phase One: The Awareness Phase
Imagine you’re just starting – no leads, no email list, just your personal social media accounts. This is the “Awareness Phase.” Utilizing platforms like Instagram and Facebook, you begin by showcasing your journey and expertise to your existing connections. Why focus on social media? It’s free, and your friends and family are already there, ready to discover your newfound venture.
Phase Two: Transitioning Off Social Media
As your social media audience grows, it’s time for phase two. This involves moving people from social media to closed containers like an email list, a Facebook group, or even an SMS list. This phase ensures a more intimate connection, setting the stage for deeper interactions and relationship building.
Phase Three: Sales Content and Offerings
Phase three revolves around sales content. Now equipped with an engaged audience, you introduce your products and services, moving potential clients through a journey from leads to loyal customers. This strategic approach involves providing solutions to the problems your audience faces.
The Three Cs: Coaching, Cohorts, and Courses
When you’re ready to start crafting offerings, consider the three Cs: Coaching, Cohorts, and Courses. One-on-one coaching offers high customization and access but is often the highest ticket. Cohorts involve group coaching, offering a shared experience. Courses, while hands-off for you, provide the lowest ticket and less individualized support.
Building Trust and Making Six Figures Online
Building trust is an ongoing process, starting in the social media phase and continuing throughout your business journey. Making six figures online may seem daunting, but breaking it down, having 21 clients paying around $400 a month gets you there easily. You might not reach it all at once, but 5 or 6 clients a month for half a year is well within reach! It’s entirely achievable, especially considering the network you already have.
Overcoming Visibility Concerns
A significant hurdle I see new entrepreneurs facing is overcoming visibility concerns. Shifting from a private, personal social media presence to a “public figure” in the business space can be challenging. Embrace the discomfort, challenge your limiting beliefs, and recognize that visibility is crucial for success.
Online business success in 2024 involves understanding the phases, creating compelling offerings, building trust, and embracing visibility. When you’ve mastered these basics, you’ve set a strong foundation for your successes to come!