We buy a car to get us from A to B and the same applies when it comes to running a successful business- you need to have a good business model in place, to get you to where you want to be.
To create a successful business you will need the same 3 key components that driving a car requires namely a reliable vehicle, engine and fuel. So how exactly does this translate in a business sense?
Regardless of whether you’re starting a business online or offline, you will still need to have the right “vehicle “to drive you to success. By vehicle we mean the offer.
To run a successful business, your offer, whether it’s a product or service, needs to;
Appeal to the masses
Generate a high profit or commission
One way of making sure that your product/service is a good one that will appeal to the masses is to check out how much competition is out there for the same offer. If there is a lot of competition then this will mean that it is a good product that is in high demand.
Your job is to then make sure that you stand out from your competitors by being unique.
So how do you outsmart your competitors?
That is where your “engine” comes in. The engine of your business is the system that you use to get customers to buy from you. If you have an online business then one great way of standing out over your competitors is by creating both a powerful website and creating your own unique landing page with a capture box included. By doing this you will start to build a valuable list so that even if your customers don’t buy from you on the first occasion, you can still market to them in the future. This technique can be invaluable in your quest to running a successful business.
If you have an offline business, there are other effective ways that you can build a list of prospective customers, including, storing customers’ mobile phone numbers and email details, so that you can text or email offers to them in the future.
So now that you have got your vehicle (the offer) and your engine (the system) in place, the next vital component needed for running a successful business is to add the right fuel (targeted traffic).
The Right Fuel
The first point to remember when finding traffic/customers for any business is that it needs to be targeted traffic. Just like a diesel car will grind to a halt if you put in the wrong fuel, (petrol), so too will your business, if you market to the wrong crowd. Therefore it is important to spend time working out who your target audience is and to make sure that you narrow your marketing efforts to that audience.
One powerful way to do this is to use social media sites that are free. Social media sites like Facebook and Twitter offer a means of joining groups within your niche and to also add followers who fall within your target market.
Another great way to reach your targeted audience is by using paid advertising methods like pay per click or Facebook paid advertising. However, if you decide to go down the paid advertising route, it is better to start off small and scale up once you start making lots of sales.
In my opinion success for your business requires finding a reliable vehicle, good engine and the right fuel. With all three in place, you will have the key ingredients needed to running a successful business.