Newsletter #010 – The Business Levels
What Stage is Your Business?
Businesses go through different levels from being an idea, a startup to a business that is fully mature.
Identifying the right business level with guide the business owner through the next stages for growth.
Step 1 – Start Up
At this level, the business has just been launched or is struggling to make sales. It has little or no customers. This is when you make a lot of noise on Social Media – refer to previous newsletters for the type of content used on each platform.
If the website has just been setup – there are targets around putting good quality content on the site to draw organic growth.
One strategy is to write a lot of blogs. The target is 30 blogs in 30 days followed by a minimum of once-a-month blogs thereafter. The more blogs you can create, that have value, the more you will attract the right type of client for your business.
The format for the blogs is essential to attract search engine ranking and organic growth. It should be content that is researched. What that means is identifying the customer pain points, checking the most frequently asked questions and writing content that addresses those issues.
This is the discovery and marketing stage.
Discovery is what works for attracting customers and doing more of it.
Marketing is ensuring your business is always in front of the ideal customer.
Step 2 – Systemize
At this stage, the business has regular monthly sales. Now you can start to build the systems that become the platform on which the business can grow.
The cost of running all my systems that include, email marketing, delivering content, zoom, webinar hosting, content hosting, etc comes to just under $400 per month. I can build my account to 100k users without any increase in costs.
Building systems doesn’t need to be expensive. Just the essential things to keep the business running with as little input as possible.
Blogs to the business are at least once-a-month preferably 2 or 3 times a month to keep attracting your customers.
Systemise is building the foundation ensuring all the building blocks are in place to grow the business.
Step 3 – Growth
Once the systems are in place the focus can move to growth. If you try growth before having the systems in place you are setting yourself up for chaos and failure.
You already know how to find clients and make sales. So, in this stage branding becomes part of the process.
Build your brand and market the brand so clients start to associate certain colours, logos, etc. with your business.
As your brand is established it becomes easier to grow the business.
Step 4 – Risk Management
Your business is growing steadily. The brand is becoming well known. As with anything successful there can be risks.
At this stage, the risk management system is built.
The risk management system looks at how to stay ahead of the competitors, what threats are likely to affect the business along with weaknesses within the business.
Repeat business and retaining customers forms part of the Risk Management System.
Step 5 – Automation
You have a steadily growing business with a solid infrastructure of tried and tested systems. Now you can move to automation.
Automation helps the business run on autopilot reducing the time you need to spend on it.
With automation, the business could be sold.
Or use your free time to start the next business creating Multiple Income Streams.
Action
Identify which level your business is at and put action steps in place to grow your business to the next level.
The Online Entrepreneur Website
I created The Online Entrepreneur Website as a site of learning and resources to help grow an Online Business – visit https://theonlineentrepreneur.co.uk
Regularly as more content is added each week.
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Website – https://theonlineentrepreneur.co.uk
Some Products to Help You Build an Online Business
Affiliate Marketing Book – Available on all Amazon Book Sites – Check the site best for your location.
Note: Clients in Northern Ireland may have problems buying the book from Amazon UK due to Brexit and may need to use one of the EU sites. Often there is an “Out of Stock” message. This means you will need a different Amazon site or the ebook version.
Quick Affiliate Products has more content about writing blogs, sales and marketing
https://courses.karennewtoninternational.com/products/courses/view/1136385
Chat again soon
Karen
Karen Newton International
Wealth Income Lifestyle
3x #1 International Best-Selling Author
