The 5 Fundamental Truths To Building An Online Business…
Fundamental Truth #1
There Are 3 Main Ways To Grow Any Business
Now That You Know How Businesses Grow...
Using these ‘growth levers’ you can start to build out your system, step by step. Each one carefully following the last to ensure your business grows in a controlled way.
Fundamental Truth #2
We Don’t Know, What We Don’t Know
If your customers don’t know you exist – then how can they buy your products?
Step #1: Build Awareness
Building awareness of your products or services online is the first step before anyone decides your product or service is for them – you need to get their attention.
And the larger the traffic source, the more leads you will qualify.
But it’s safe to say, most people will NOT purchase your products or services the first, second or even third time they see your message. In fact, on average, a customer needs to hear your targeted message at least 7 times before they even start to consider buying from you.
That’s why it’s important to set up the next part of the system…
Fundamental Truth #3
People Buy Transformation
People don’t buy products. They buy the transformation and value that a product or service gives them.
Step #2: Attract Interest & Create Desire
After you’ve got their attention, it’s time to build interest and desire in what you’re offering. We do this by offering a tremendous amount of value upfront, so our leads and prospects know, love, and trust us.
You know your product or service works. But that doesn’t mean your customer does. In this part of the system we’re not only showing our leads and prospects how our products work but how it will help them improve or transform their lives.
Fundamental Truth #4
No Offer. No Sales.
The amount of money you make is directly related to the amount of offers you make.
Step #3: Entice Action
If you’ve completed the last two steps correctly, your leads and prospects will start to see the value your business can bring to their lives.
It’s at this point, you’ve built up so much goodwill that many people will be happy to hand over their money in exchange for your product or service – now is the time to make the offer.
There’s a catch, however.
This part of the system requires part-skill and part-art to get it right. But when you do, you’ll start to see your business grow at an unimaginable pace.
Fundamental Truth #5
Scaled Businesses Are Robust Businesses
The ‘secret’ to building a business that can survive, pivot, and even thrive under the most challenging circumstances.
Step #4: Scale Your Business
So, at this point you’ve not only increased the number of cold traffic, leads and first-time customers you have for your business, but you’ve also offered them more ways to increase the amount of money they spend with you.
Now it’s time to scale your business by increasing the frequency that the average customer buys from you. There are many ways to do this and it’s this exact reason giants such as Amazon and Apple have been so successful. And you can employ the exact same strategy to scale your business.
You're 60-70% more likely to up-sell or cross-sell to an existing customer, compared to the 5-20% likelihood of selling to a new prospect.