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4 Critical Steps For Creating A Profitable Online Business

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4 Critical Steps For A Profitable Online Business To Work

If you had asked me about making money online four years ago, I would have called you a liar. I was a blue-collar worker who never touched computers.

I woke up every day at midnight to deliver bread to grocery stores. I hated my job; I hated my life, but I didn’t know how to escape.

In 2011, I started listening to podcasts. I found Pat Flynn and got excited about the idea of creating a location-independent online business. I studied any information I could get my hands on. What I found got me far, but I decided that investing in a course from a well-known marketer would help me reach the next level.

I was sadly disappointed. The course was $697, which was a HUGE investment for me at the time. We were living paycheck-to-paycheck. There were a few good tidbits, but overall the course was designed to up sell students on the marketers “elite” program.

That experience taught me a valuable lesson and forced me to learn these four steps to creating a profitable online business. Use these strategies to create freedom in your “work” and give you the flexibility to spend your time on the things that are important to you.

Here are the 4 steps to creating a profitable online business:

 

1. Build a sizable and engaged following

You are probably familiar with the theory of 1,000 true fans. The reality is that you don’t need a thousand fans to start making serious money. If your fans are engaged, they will spend money with you and tell others about your business. So, how do you build a following? There are a few ways:

  • Social media. This is my least favorite way because the organic reach of social media is pretty small these days. More times than not, you will have to pay to reach your audience. Even though the engagement is low, there’s still an opportunity to reach the billions of users on social media.
  • Get interviewed on Podcasts. Podcasting is huge and only getting bigger. These days, people listen to podcasts more than traditional radio. You can sign up for a service like Radio Guest List and have shows emailed to you every morning that are looking for a guest like you. Get interviewed on as many shows as possible, and some of those listeners will come back to your website. In 2012, I was interviewed on 80 podcasts and brought 100,000 visitors back to my website from the shows.
  • Write for large authority sites. You can write for some of the biggest websites in the world. Websites, such as the Huffington Post and Entrepreneur Magazine —among others—are always looking for good content. Since these websites publish so much content, they’re always looking. You can get a free guide that walks you through how to get into these sites on my website.

These are a few ways to build a following fast. Just using these strategies, I’ve been able to build my email list from 3,000 people to over 24,000 in one year.

“Social media will help you build up loyalty of your current customers to the point that they will willingly, and for free, tell others about you.” – Bonnie Sainsbury

2. Stop chasing influencers

When you’re building an online business, the common advice is to connect with an influencer in hopes of them giving your business a shout out. This is bad advice because so many other people are trying to do the same thing. Influencers such as Pat Flynn get hundreds of emails every day from people looking to “connect.” The time you spend chasing could be spent building your business using the strategies I mentioned above. Once you build your business without chasing, you can connect with an influencer as a colleague.

 

3. Focus on what will help your business

A lot of times, the frustration in building a business comes from information overload. We see someone talk about making six-figures using Instagram, and we’re focused on Instagram marketing for the next month with no results. Just because something worked for someone else doesn’t mean it will work for you. You have to focus on what will help you where you are in your building journey.

 

4. Don’t be afraid to sell

You may have the sincere desire to help people, but that doesn’t mean you can’t charge a fair price for your products/services. The goal is to create freedom and that comes from your business making money. Don’t be afraid to sell. If someone opts out of your email list because you made an offer, so be it. As long as you’re not spamming your list, you only want those who are interested—not the tire kickers.

“If it doesn’t sell, it isn’t creative.” – David Ogilvy

It took two years, but I was able to quit a job I hated. I now write, speak, coach, and consult from my home in Maui, Hawaii. The business grew so much it funded our move from Wisconsin to Hawaii. The business is online so I could operate it from anywhere in the world. That is what freedom means to me.

You can build a profitable online business. Don’t believe the hype and don’t follow commonly accepted advice. Test what works and believe in yourself.

 

Don’t let self-limiting beliefs keep you from the kind of life you want to live.

Kimanzi Constable is an author of four books and a writer whose articles have been published in Forbes, Entrepreneur Magazine, Business Insider, SUCCESS Magazine, NBC, CBS, FOX, and 80 other publications and magazines. He is the co-founder of Results Global Impact Consulting and Senior Editor at The Good Men Project. Learn more and get a free guide at kconstable.com.

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The Top Startups You Can’t Miss: Summer 2024 Edition

These companies are important players to keep an eye on in the changing business and technological scene of 2024

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How to Build Your Dream Tech Startup Team

Are you starting a startup business? Look to build a tech team for your “newborn organization,” and check out this article for useful tips.

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15 Business Lessons From Napoleon’s Playbook

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Business Lessons and strategies from Napoleon Bonaparte for Entrepreneurs and CEO's
Image Credit | Joel Brown

Unleash your business potential by harnessing Napoleon’s strategic genius.

From dreaming big and thinking bold to moving fast and staying agile, these time-tested tactics are your blueprint for success.

Learn how creative leadership, detailed planning, and relentless execution can transform your business landscape. Boost morale, lead with clarity, and embrace hard work to conquer your industry.

Don’t just survive—thrive with the power of Napoleon’s lessons.

Here are 15 Powerful Lessons You Can Learn From Napoleon Bonaparte

 

1. Dream Big, Think Bold

Napoleon wasn’t just playing small; he believed that “Imagination rules the world.” In the business world, boldness and creativity are game-changers. Don’t just aim to fit in—push boundaries and set ambitious goals that make you stand out.

Think of Steve Jobs, who didn’t just want to make computers; he wanted to revolutionize entire industries. Your vision should be so grand it almost feels unreachable. When you dream big, you inspire those around you to believe in the impossible and work together to achieve extraordinary outcomes.

2. Move Fast, Stay Agile

Napoleon’s quick and secretive moves gave him an edge. In business, you gotta be nimble. Adapt quickly, move fast, and you’ll often find yourself ahead of the game, capturing opportunities your competitors miss.

Companies like Amazon and Tesla thrive because they constantly innovate and pivot when needed. Speed is your friend; it allows you to react to market changes and customer demands faster than the competition, ensuring you remain relevant and ahead of the curve.

3. Creative Leadership

Napoleon thrived on chaos and wasn’t afraid to switch things up. Unlike rigid leaders, he was flexible and adaptive. In business, embrace change and let chaos work for you. Being adaptable can turn unpredictable situations into opportunities.

Think of how Netflix transitioned from DVD rentals to a streaming giant. Flexibility and creativity in leadership allow you to navigate through turmoil and emerge stronger, transforming challenges into stepping stones.

 

4. Organize Like a Pro

Napoleon’s mind was like a supercomputer, processing vast amounts of info to make smart moves. Businesses should do the same—stay organized, use real-time data, and adapt strategies based on fresh insights to keep that competitive edge.

Utilize modern tools like CRM systems, analytics software, and AI to manage information efficiently. Staying organized and informed means you can make better decisions, foresee potential issues, and react promptly.

 

5. Keep It Simple

Napoleon knew the power of simplicity. Overcomplicating things can bog you down. In business, streamline processes and focus on what truly matters to hit your goals efficiently.

Apple’s product design philosophy under Jobs was about simplicity and user-friendliness.When you remove unnecessary complexity, you reduce errors, speed up processes, and make it easier for your team to focus on what’s important, driving efficiency and effectiveness.

 

6. Execute Relentlessly

Once Napoleon decided on a course of action, he went all in. In business, once you pick a direction, pursue it with full commitment. Execution is where success is truly made.

Look at how Elon Musk commits to his vision for SpaceX and Tesla. Relentless execution means overcoming obstacles, staying focused on your goals, and not getting distracted by setbacks. It’s the determination and persistence in execution that ultimately leads to triumph.

 

7. Play to Your Strengths

Napoleon only fought battles he knew he could win. In business, focus on your strengths and avoid head-to-head fights in areas where you’re weak. Know your advantages and leverage them.

Microsoft leverages its strength in software development and cloud services rather than trying to compete directly in hardware. Understanding and maximizing your strengths ensures you play a game you can win, using your unique capabilities to outshine competitors.

 

8. Plan in Detail

Napoleon planned for every possible scenario. Businesses should do the same—conduct thorough planning and prepare for various outcomes.

Detailed planning helps you stay ready for anything. Scenario planning and SWOT analysis are tools that can help you foresee different futures and prepare accordingly. When you’re prepared for multiple scenarios, you can adapt smoothly and continue to drive forward, no matter what challenges arise.

 

9. Seize Opportunities

Napoleon saw luck as the ability to capitalize on accidents. In business, be prepared and ready to grab unexpected opportunities. Agility is key.

Companies like Uber and Airbnb seized gaps in the market by being ready to pounce on opportunities when they arose. Always be on the lookout for opportunities, and when they come, don’t hesitate. Preparation and readiness to act quickly can turn unexpected moments into major breakthroughs.

 

10. Learn from the Past

Napoleon studied the greats who came before him. Entrepreneurs should always be learning from the successes and failures of others. History is full of lessons waiting to be applied.

Warren Buffett is famous for studying businesses and market histories. By learning from the past, you can avoid repeating mistakes, understand what works, and build on proven strategies. Continuous learning from history helps refine your strategies and improve decision-making.

 

11. Boost Morale

Napoleon knew how to keep his troops motivated. Business leaders should do the same—keep your team inspired and engaged. High morale leads to high productivity.

Companies like Google and Salesforce invest heavily in employee well-being and motivation. When your team feels valued and motivated, they are more productive, innovative, and loyal. High morale fosters a positive work environment where people are excited to contribute and excel.

 

12. Lead with Clarity

Napoleon believed in the power of a strong, decisive leader. In business, clear direction and strong leadership are crucial. Ensure everyone knows the plan and follows it.

Leaders like Jeff Bezos provide a clear vision and direction, ensuring their teams know what they’re working towards. Clear, decisive leadership aligns your team, fosters trust, and drives coordinated efforts towards achieving your business goals.

 

13. Reflect on Failures

Napoleon analyzed both his wins and losses. Businesses should review their successes and failures to keep improving. Learn from mistakes to avoid repeating them.

Ray Dalio of Bridgewater Associates emphasizes the importance of learning from failure in his book Principles. By conducting post-mortems, you can understand what went wrong, make necessary adjustments, and continuously refine your strategies to avoid future pitfalls and drive success.

 

14. Action-Oriented

Napoleon was all about turning thoughts into actions. In business, decisiveness and execution are vital. Don’t just plan—act on those plans with energy and determination.

Entrepreneurs like Richard Branson embody this principle by constantly moving from ideas to actions. Action orientation ensures that you don’t get stuck in analysis paralysis but instead drive forward, making things happen and turning visions into reality.

 

15. Embrace Hard Work

Napoleon lived and breathed work, saying, “Work is my element; I am born and built for work.”

In business, a strong work ethic and relentless dedication are key to success. Think of how Howard Schultz rebuilt Starbucks through sheer hard work and determination. Embracing hard work means being willing to put in the necessary effort, staying dedicated to your mission, and continuously pushing towards your goals, no matter the challenges.

 

By implementing these lessons from Napoleon, businesses can sharpen their strategies, strengthen leadership, and execute with precision, driving sustained success.

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How to Manage Your Startup’s Finances More Efficiently

No matter how groundbreaking your product or service, your startup could quickly be on shaky ground without proper financial management

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