No matter how you get to “success” in your online business, there are always clues, tips and strategies that are common behind every success story. This includes not only traits that every business must have to grow and become successful, it is also the personal habits that business people practice that greatly increase the odds of their business succeeding.
In the following videos, my long-time business partner Steve and I go into the top 12 of these strategies. Watch these bite-sized tips to help guide you in growing your business this year, and if you’re just getting started, these are a great foundation to launch whatever business you wish to pursue.
These tips are from our annual 12 Day Giveaway that we host at the end of every year. If you wish to watch our wrap-up webinar we ask you to register for in these videos, click here and enjoy!
Let’s get started!
Follow Your Strengths
“Why would you need to be good at everything?”
Steve talks about celebrating your strengths, and remembering that you don’t have to be good at absolutely everything to build an online business.
Analyze your strengths and be honest about your weaknesses. For anything that needs “filling in the blanks”, hire someone who can.
Existing Traffic Source
“Traffic is the lifeblood of online businesses…”
I explain how to stack the deck in your favor to gain traffic to your business and achieve success. If you don’t get qualified people coming to your website and product page, or getting people going into your restaurant, or whatever business you own, then it’ll be quite tricky to make money. Check to see if there are proven shortcuts out there where you can piggyback on existing traffic sources.
Need To Understand The Numbers
“We’ll just make it up in volume…”
If you’re one of those folks who aren’t super comfortable with numbers, don’t understand what cash flow means or what a P&L is… don’t worry, you’re not alone!
You don’t need to be an expert and you don’t need to be an accountant. However, you do need to have some basic understanding of these terminologies and how the numbers interact. As your buisness grows and you start to work with an accountant, you may be able to start learning about other things you can leverage and optimize in your business (ie tax savings).
Clear Action Plan
“What does finished look like?”
We talk about creating a really solid action plan. A lot of people tend to overcomplicate this, but the really simple way to attack this problem is to work backwards from the goal.
Don’t Get Stale With Knowledge
“Things change so fast…”
How many people woke up one day and saw that ChatGPT had taken over the world? Today we talk about knowledge, how to keep learning new things (without stressing out) and how we adjust our online business and marketing as things evolve.
“One of the common traits of successful people…”
Positive daily rituals and routines are critical to succeeding in business. I start my day the night before by planning what my tomorrow will be. So when I wake up the next morning, I’m ready to go and know exactly what to do.
Steve plans out his entire week, then every morning he chooses his biggest 3 or 4 things that MUST get done.
Whatever you choose, keep it as simple and fast as possible so you can easily turn your routine into habit.
“Jeff Bezos goes from nerd to supermodel…”
It’s probably not a coincidence that a lot of people, as they become more successful, seem to all get into shape and focus on their health. It’s funny, but also true, you should definitely look after your health at the same time you are building your business.
“Some businesses are more cash intensive than others…”
This is all about MONEY, and the challenge of spending it. That is, having a business with high costs and overheads, and how to motivate yourself to keep going.
An alternative, of course, is being in a business with low costs and overhead, and we discuss both types and how best to keep going for that payoff that will happen when you start building a business online.
Get A Partner
“Problems are halved with a partner”
Way too many people go at it alone for way too long. That’s not to say that you need a partner out of the gate. The stars don’t necessarily align where you immediately find the right partner or partners on your journey to building a business.
However, this is an absolute requirement when you start to reach a certain point and you want to make even bigger gains in your business. Amazon, eBay, Craigslist, Dell and many other companies were all started by one person, and they certainly wouldn’t be the businesses they are today if they were still being run by that same one person!
The bottom line of partnering is that life is better, decisions are better, ideas are better, work is easier, and the business grows.
“You can buy time”
There’s never enough time in the day to grow your business. The good news is that you can “buy” time, and the way to do that is to delegate.
By doing so, you free up your time to do more of what you want to do, and don’t do the things you don’t want to do (in fact, we insist you don’t!) Work on your business doing the big things, and delegate all the little things.
Synergy and Scaling
“Use what you already have and build upon that.”
Use what you already have and build upon that for your online business. Think of your previous experience, your expertise, your passions and hobbies, previous contacts, etc to help build your business.
Use A Proven Formula
“Recipes are a great way to mitigate risk.”
Recipes and formulas are a great way to mitigate risk. It’s not that you always have to stick to the recipe… understand that once you’ve gotten some results, then you can adapt it to meet your own needs.
There you have it! I hope you enjoyed these little videos, and let me know below your tips and nuggets of wisdom to help in achieving success!