Hard work will get you a professorship or a BMW. You need both work and luck for a Booker, a Nobel or a private jet. – Nassim Nicholas Taleb
Let’s first get this out of the way… anyone can be an entrepreneur.
Just look at most of the successful entrepreneurs that you know or follow. Are they the smartest / brightest / most-qualified people that you know? I doubt it. You probably think that they’re a litte weird.
Here’s the truth:
If you work hard, one day you will run a profitable online business.
Yes, it is that simple.
Does that mean it’s easy?
Absolutely not, but the most reliable factor for success in entrepreneurship is hard work.
And this is exactly where most millennials interested in starting an online business fail. They’ve already been brainwashed by posts about billion dollar startup exits, over-night app store millionaires or couples who ditch their jobs to travel, blog and instagram food.
Now that’s not to say there are not numerous opportunities to get rich quick or that instances of this happening are even rare, however it usually only occurs to individuals who have been spending days, months and years of learning, working, failing and scaling.
*If your mindset is already focused on the end, you’ll never complete the journey. *
I’ve been a member of the DynamiteCircle, an international entrepreneurship group, since the end of 2011. The group really started with a focus on coconut cash / lifestyle optimization, but since then has scaled up massively!
It’s not surprising to me or anyone else in the group because everyone knows that if you work hard, one day you will run a profitable online business.
My good friend Nate may be the best example of this. For the past few years Nate has been grinding in Asia and working on like 100x business concepts all while still managing to live a kickass life doing kickass shit (see his Instagram).
Last year Nate jumped on the Amazon FBA bandwagon and started importing products from China to sell on Amazon. It wasn’t the first, second, third or eighteenth thing that he tried doing, but finally he found serious momentum with Amazon FBA. Now he is making a KILLING each month from selling (haha I’m not going to tell you).
Working hard as an entrepreneur = how many hours per week???
All of them!
Seriously… becoming an entrepreneur is a total commitment.
It’s probably a lot like converting to Scientology. There are no part-time Scientologists and there are no part-time entrepreneurs. It’s what you are and will always be.
I’m not sure it’s something that you can fully understand before diving in, but before you quit your job to start a business you should seriously ask yourself whether you’re all-in and ready to work or not.
Okay I’ve committed tell me the business idea already!
Now if you’ve decided that “Hey this is what I want to do!” well great because I am about to reveal the secret that will allow you to build a profitable online business.
This is seriously the only thing you need to do to run a six-figure, seven-figure or eight-figure company.
This is the EXACT strategy that I use to run my companies.
Just build an audience and then sell them something.
Yes, it’s really that simple.
Last week I spoke at the DCxAustin event and got to spend a few hours talking to some of the kickass entrepreneurs running all kinds of kickass companies. I love being able to catch up with everyone in-person and see what’s happening.
I got really fired up after talking to my friend Bill (not his real name).
Bill runs a business in the finance space. He’s niched down and has a very specific audience.
Recently he started selling a new service to his list and in less than three months he’s at $10K MRR! Insane because he’ll raise the price for the service soon and his MRR will likely double or triple before the end of the year.
Now you’re probably thinking well Bill must have a huge email list to be able to generate that much revenue so fast.
But that is not the case… his email list is only 2,000 people!!!
Bill has a great audience and is good at selling them things they need.
Now if you’re a totally committed (or converted) to being entrepreneur and starting an online business then you can follow this method and make it work in absolutely any niche.
Yes there are countless more ways to start, but this is the optimal strategy.
**Applying the concept: **
This is Lil Jiggy, the micro-teacup pomeranian puppy that my girlfriend almost convinced me to buy last year.
We never got Lil Jiggybecause our current lifestyle doesn’t really have time for a pet and Lil Jiggy also cost something like $6,500.
Every once and a while I’ll get puppy fever after watching a dog video on Facebook. This in turn leads to me searching the web for dogs and eventually ending up on a website like texasteacups.com.
This is actually what the homepage is like.
Obviously it’s terrible and outdated.
This problem is not limited to the fine folks at TexasTeaCups.com either. Most dog breeder websites are just as awful. I’m sure this concept also applies to cat breeders, snake breeders and every other kind of pet breeder out there.
So there’s a nice opportunity to create a productized web design and management service for pet breeders (your free business idea).
Now you could just contact TexasTeacups and try to help them because they desperately need it, but they probably won’t buy anything from you because there’s no relationship and no trust.
We’re going to make it way easier on ourselves and apply the methodology here.
Build an audience:
Our audience is dog breeders.
Dog breeders are probably most interested in how to breed the best puppies and then how to sell more puppies.
It’s your job to become an expert at this and then share your strategies.
Step-by-step what I would do from here:
Step 1: Build a wordpress website like DogBreederExpert.com (available as of the time of this writing).
Step 2: Launch a podcast talking to dog breeder experts all around a certain type of dog like teacup Pomeranians or any other kind of expensive breed.
Step 3: Write an eBook on the Top 10 Tips to Maximizing Dog Breeder Profits and give it away for free in exchange for an email address.
Boom three things and you’ve already built an audience.
There are a ton of resources on building a website, launching a podcast and writing an eBook so I won’t get into that here.
**Sell them something: **
You aren’t selling the customer a website, you’re selling the customer a better way to sell their puppies.
Most people miss this part and try to impress the client with how sophisticated an awesome their product is. Business owners care about how it will help them.
Before you start selling you should probably; become capable with a wordpress theme that fits this niche and have a hosting account at WPEngine.
Then once you start having dialogue with dog breeders who are visiting your website, offer to do one of their websites for free.
You have to deliver big time here.
After you build their website, bring them on your podcast and have them talk about the experience. On your blog post for the podcast include a buy-now button. You will probably make a few thousand dollars of recurring revenue by doing this alone.
Finally one you’re comfortable with your product and the processes behind it, sent out a promotion to your email list for your website service. Include some nice testimonials and images of the work that you’ve done. Testimonials should include how much EASIER their website is to use now and HOW MUCH MORE money it has made them.
Boom you have a profitable online business!
I imagine the retention rate for a business like this to be pretty high, so if you can focus the rest of your attention delivering an incredible product and providing the best support you’ll have customers for life.
Then going forward you can grow the audience through content marketing and boost revenue from more signups and new services like Facebook ads.
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This blog post was the mix of a bunch of ideas that I had floating around, so I hope that it made sense and you enjoyed it. If you have any questions, just drop a comment below and I’ll get back to you soon!
Also don’t forget to subscribe to my email list and share with friends 🙂
img via BMWUSA
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