4 MINDSET SHIFTS YOU NEED TO BUILD A SUCCESSFUL ONLINE BUSINESS
There is nothing more exciting than making the choice to start an online business.
You know you have everything you need to succeed: the drive, the resources, and the knowledge required to get things going or connect with those that can help you do that. Despite everything, however, you still find yourself struggling to maximize your online business' growth. And no matter how hard you try, you can’t help but feel “stuck.”
The truth is, a large percentage of people crash and burn soon after starting, with research showing that more than 90% of all Internet business start-ups end in failure within the first 120 days - that statistic is not intended to discourage you, but rather to encourage you to work smarter.
In order to maximize your chances of success, you need to be aware of the common mistakes that people make that end up killing their online business dreams. Knowledge is power and knowing the common pitfalls to look out for, can help you manoeuvre around them and boost your chances of being one of the 10% of people that do succeed.
The thing is, throughout your entrepreneurial journey, your experiences may have caused you to develop certain beliefs along the way. And while these acquired lessons can be valuable, they can also cause you to act in a way that may limit your thinking and your ultimate growth.
In order to build a profitable online business, you’ll need to assess your mindset and look at where you may need to shift your thinking. Sometimes simple adjustments in your mindset can increase your chances of success.
Shift #1: Get Rich Quick
Some people believe that you can get rich quick by starting an online business.
Every aspiring entrepreneur is inspired to make money fast so that they can have financial freedom, but the truth is - if you want to achieve massive success in your online business you need to put in the hard work. There is no such thing as an 'overnight success' and taking shortcuts will only cost down the road.
You need to invest the time, money and effort into understanding your audience, what they need and how you can best deliver on that, in a way that is unique from what others (your competitors) may offer.
Remember, easy come, easy go. So spend the time laying a solid foundation - crafting your strategy and connecting with your audience, to build that relationship with them and ensure the business you are building will last.
“If your only goal is to become rich, you will never achieve it.” - John D. Rockefeller
Shift #2: I Need More Clients
It can be easy to fall into the hustler mentality, where you're constantly pushing to make another sale. I often remind my clients that their best strategy is to increase sales and profits isn’t focusing on acquiring new customers, but focusing on engaging more with their existing customers.
Your existing clients/customers are your biggest asset because they already see value in you or what your offer; and have proven that they’re willing to spend money.
Instead of spending your entire budget on advertising to get more traffic, rather put it towards improving your client/customers experience, creating a positive and enjoyable journey for people on your platforms, and upselling your other products/services to your already happy and satisfied clients/customers.
Obviously, I’m not saying that you shouldn’t attempt to market your offer at all to new people. Making your online business appealing to new customers is a great way to keep yourself in business. However, if you want to scale your business, you’ll need to find the perfect balance in your budget between how much to spend on acquiring new customers and how much to spend on engaging your existing customers.
"Profit in business comes from repeat customers, customers that boast about your product or service, and bring friends with them." - W. Edwards Deming
Shift #3: If I Build It, They Will Come
Many online businesss owners believe that if they simply build a website, customers will somehow know it's there, find it and shop their products or services; but they are sadly mistaken.
In the current times we're living in, millions of other businesses are fighting for the top spot in the search engines and competition is high. According to Google, 97% of consumers use the web to search for local businesses.
One of the most powerful ways to attract more people to your website is by creating content that adds value to their lives, like helping them solve problems they are facing. This is what has allowed me to build a 6 figure online business.
“If you add the value, you will become the brand. Find a way to add more value than anyone else does.” - Tony Robbins
Shift #4: Failure is Final
Failure is a reality of life, and a normal part of the learning process when you are starting a business online or anywhere for that matter. Successful entrepreneurs understand that failure is only a temporary setback on the road to success. And they also know these setbacks are often one of the most educational tools at their disposal, with every success story having a challenge or setback needing to be overcome.
You'll often find that your greatest failures become prelude to success. I’ve experienced setbacks multiple times in my business, but I have conditioned my mind to look at those challenges as opportunities to learn, grow and take my business to the next level and not feel defeated by them.
Remember, the master is one who has failed more times than the beginner has even tried. If you want to achieve success in your business, you need to be ready to fail more, learn what you can do better and get up and try again and agian.
"Failure is so important. We speak about success all the time, but it is the ability to resist or use failure that often leads to greater success." - JK Rowling
If you want to be successful in business and in life, you need to cultivate a mindset that supports and allows for that life to be built and enjoyed. Shift your mindset and watch your business grow exponentially.
Work hard, believe in yourself, and never stop learning. When you do, you will create a fulfilling, thriving online business that lasts for years to come.
If you’re committed to your journey and need help in building your online presence, don’t hesitate to book a consultation call here.