One of the biggest rewards of entrepreneurship is being able to build a business that does not stop with you, even when it started with you.
Of course, I understand building chains of businesses doesn’t define success for everyone out there. A lot of entrepreneurs are content with one small shop of a business, provided it’s paying their bills.
Many entrepreneurs are also out to build businesses that will merely help them survive while waiting for the next big paying job. That’s the truth we can’t ignore.
But you’ll also agree with me, that every entrepreneur wants to build a business that inspires the support and patronage of other people. That’s why you’re in business as an entrepreneur.
How to decide on a particular kind of business to build
To be able to build and run a successful online business, you have to know what exactly you’re building from the onset and who you’re building it for (your target audience).
This is why, while setting up your online business, you’ll want to ask yourself questions like, what do i really want to build at the end of the day? Is it a business, a lifestyle or a Legacy? Who is my target client?
If you’re building a business then you will need a goal, structure, a model and systems.
As an entrepreneur focused on building a successful business, you’ll want to focus on your long term goal even when you may want to start as a freelancer.
If you’re building a very short term business, while other entrepreneurs are focused on creating long term systems over immediate returns, you may want to focus more on creating adequate income that will take care of your projects within a short while.
This will also shape the kind of business you want to build or skill set you want to sell online.
Where you’re building a lifestyle business then your business is going to be part and parcel of you. You’re going to be the official brand behind the business and your business goals will be set to reflect that.
Just like the two others I mentioned above, building a legacy business is quite different. It will require certain strategy, goals, models etc.
When you’re able to identify systems and requirements required of your business, you’ll then proceed to align your goals to fit in with these requirements. Doing this fast tracks your ability to achieve the goals.
How to really build an Inspiring Online Business?
I’m sure you’re asking yourself, do I really have to build a business that inspires people?
Truth is, if your business cannot inspire other people, then your purpose of being in business is defeated. Because, the people that buy from you are people inspired by your business.
They share your brand sentiments, and also believe in your ability to provide immense value to them. These are things that make them come to you. So now you’ve you seen, there’s need for your business to be able to inspire others, but…
4 Steps to Build an Inspiring Online Business
Know your clients.
When it comes to creating an inspiring brand, nothing beats a well-grounded knowledge of your ideal client. This is the most basic step for the following reasons…
Knowing your clients gives you an idea about what they want. So you won’t be creating a solution based on guessed work, you’ll give them what they actually want to buy.
It gives you an idea about their pain point. With such knowledge, you can work on creating messages, content and copy that directly connects with them.
Knowing your clients helps you guide them through the entire marketing journey effortlessly. With this, you’ll be able to provide tailor-made content that will provide effective results at intervals, effortlessly.
Create a compelling brand.
Creating a compelling brand is a crucial first step in marketing your business. It is also one of the most important ways to inspire your ideal clients to patronize or believe in your business.
To start creating a brand, you have to identify your WHY. So ask yourself, why am I in this business? What inspires me?
After answering the above question you get over to find out, WHAT exactly you want to do as a business. This should then lead you to finding the HOW.
This entails how you do it differently from any other person. When this is done, you can go ahead to find your brand values, etc. read up details on how to create a compelling brand here
Deliver beyond promise
It’s just normal for people to choose you over others if you go about giving them extra value for their money. This is why as new business, you want to under promise and over deliver.
Don’t be tempted to over promise and deliver below average. You will need positive testimonials and referrals from satisfied customers to create an even bigger network of customers.
Tell your brand story
Brand Story telling is a great opportunity for brands to share their stories, differentiate themselves and reach out to an audience that believes in their values. It is also a way to create a tribe of committed clients.
A brand story recounts the series of events that inspired or shaped your business and expresses how much that narrative still drives your mission today.
Beyond your past, your brand story humanifies your business, helping you connect with real people while creating an impression for the present and shaping your future narrative.
To create and run a successful online business, you’ll want to make your brand story a part of your continuous marketing and branding strategy.
To drive home these points, let me share a story with you…
Yesterday I was in a board meeting with the directors of a client’s business.
In that meeting, one of the Directors posed a very simple question which took the CEO a while before he could answer it.
The question went like this: “where exactly is this business going?“
Now you will agree with me that this question was rather simple. But, a lot of entrepreneurs do not have answers to this very simple question.
So let me pause to ask you. Do you know where your business is going in the next few years?
While the CEO was working on answering the question, I figured from his answers that he was more focused on building the immediate business than the future business.
He wouldn’t have had a clear cut plan for the future but he had a plan for the present and a couple of years more.
This is how a lot of businesses operate. Most do not have it all figured out.
But, while you don’t have to figure out everything about your business completely, you want to have an idea about what you’re building and how long it will take you to build it completely, including possibly, the financial requirements .
These are part of the core tips that will help you as you work on building a successful online business.