Have you ever wondered how some of your favorite influencers make money? Me too!
Today, we are surrounded by creative entrepreneurs who make a decent profit in business by doing what they love. You’re probably wondering if they’re apart of a secret society or are the ideas being cloned in a group chat somewhere. Interesting. Not quite accurate.
Although being an online entrepreneur is quite popular and fairly simple, it’s not easy making money. Businesses start daily and disappear overnight. One moment, it’s a trending topic on social media and the next your big idea seems outlandish to complete.
Luckily, we have a few success stories that motivate the rest of us to not give up on our dreams and keep going. Life is all about sticking your big toe out there and testing the water. If it’s too hot or cold, you wait until the right moment to dip your entire foot inside. The same goes for starting a business from the ground up and making it profitable.
Before we jump into the how to’s let’s pause for a brief moment to debunk a few myths. A lot of times people feel the pressure to have a degree to start a business. While the degree is a good thing to have in your arsenal of tool bag. It’s not always necessary to start your business. That’s right I said it. Most successful entrepreneurs are college dropouts or found their niche after being rejected on the intended path.
So, you want to launch a profitable business. Cool! Here are a few ways to do what you love, make money, and look amazing in the process :
1. Create a demand for your product/services : The name of the game is called supply and demand. You may have a definitive factor about your product or service that your customers love, use it to your advantage. Build a buzz on why your product/service is better than the competition.
2. Be authentic and vulnerable with your audience : Have you ever heard of the success stories of the single moms raising her family, going to school and starting a business in her kitchen? Yep, there are tons of those stories out there. People never get tired of them. Why? They are true stories of the human experience of trying to overcome and make a positive change.
3. Research and study your competitors : Whether your business is cleaning homes or makeup, you have competitors. Don’t look at them as intimidation, as opportunities to do it much better.
4. Be customer focused : This is a huge factor and a lot of online businesses miss this opportunity. A few online entrepreneurs get in a fit when people dislike their products or services. Sooner or later the backlash begins and the business reputation is tarnished. Want to prevent that from happening? Be proactive in resolving complaints. Be polite on feedback. Have a grateful attitude towards those whom support your business.
5. Define your mission : Just because you are not a corporation, doesn’t mean you don’t need a mission statement. People like to know where you stand in the face of adversity, history, and integrity. Make your statement represent your core values.
6. Learn from your mistakes : As an online business you’re going to make a few mistakes, be prepared. Whether you show up late for a in person event, overpriced a product, or couldn’t deliver on time. Apologize and grow from your mistakes. Your ego may be bruised. Your business needs to survive.
7. Over deliver and exceed expectations : Did you include a personalized thank you card? Remember your customers birthday? Offer a special discount for referrals? If not, you’re losing opportunities to give your business credibility. People love to boost up a good service or business, just make sure it’s for the right reasons.
8. Stay relevant and patient : Every industry has changes, updates, and slow periods. Your business will not be immune to slow periods. Instead of throwing in the towel, keep your feet on the ground and learn new ways to promote your business. Remember, you’re looking for longevity not a overnight failure.
9. Don’t be money motivated, be passionate : A lot of people get into online businesses just to make money. They don’t understand the business, industry rules, or respect the hustle and grind to grow a empire. In a nutshell, it’s all about the dollar. Unfortunately, businesses like this don’t last long. Why? Because they don’t value their customers and don’t understand business. More often than not, customers buy a product once and never return.
Separate yourself from the creeps of online entrepreneurs by putting your passion and integrity into building a product that will increase returns in your business.
10. Have a strong work ethic : There is no secret to immediate success. No one becomes a millionaire overnight unless they are playing the lottery. In order for your business to be profitable, you will have to have the work ethic of a thousand men. You will have to be committed to the process of becoming a successful brand. The road may get tough or challenging, just know that your hard work and dedication is worth it.
To do what you love and make a living is a dream we all can relate too. Today, we have more tools and resources to make anything possible. You can start with what you have in your heart and mind, and change the world forever. Don’t do it for the money, do it to make an impact on a life.