Bringing Your Small Business Entity to Enterprise in 90 Days
How do some online businesses go from relative obscurity to household name in a very short period of time? While the number one answer might be advertising, it is also the most expensive method of gaining recognition. It is also extremely important that every aspect of your business model from administration to product fulfillment is flawless as you must create credibility to match that sudden increase in visibility.
The internet is an environment where creative genius is a suitable substitute for cash when it comes to gaining visibility for your company. As a matter of fact, there are many individuals who have quickly become millionaires just by repeatedly applying one successful business model within different product markets. Occasionally these individuals will share the secrets to their success for a fee, so I was overwhelmed by the time-tested strategies and course material which I found for absolutely no charge while researching ways to improve my own online business.
One of the most important strategies discussed is changing your attitude towards your competitors and viewing your competitors as potential partners. It is important to have some service or product that you are willing to cross promote with them, for a commission of course, but even more importantly for the exposure to their customer base. Since there is no brick and mortar presence, your business can only grow by exposure to new potential clients. It may cost you a small percentage of your first sale, but a large percentage of satisfied customers will return. It is a difficult concept for a new online business owner to grasp, but the majority of your company’s value is determined by the size of your customer database. The faster you build your client base, the faster you will catapult your income to seven figures or more. I would guess that the thing to do would be to partner with as many companies as possible, as quickly as possible, and then position your self for total domination.
Marketing online is so much different than I would ever have imagined. The whole concept of the more you give, the more you get, is so foreign in the physical world, but a necessary tactic of online survival. Another way of increasing your customer base is through the use of viral marketing. I know that it sounds like you are spreading a contagion, but that is in fact the concept. In a nutshell, you create an information product for whatever your market happens to be. As you are writing it, think about how much it would be worth if you sold it. Once you are satisfied that you have created a premium product, make certain that your name and contact information appear in various conspicuous places, and give it away. Not only can you literally trade it for a prospect’s name and email address, but you can encourage them to pass it on to their friends. Ideally, a file which requires their name and email to unlock it would be something to consider.