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- Why do most online businesses fail?
Most online businesses fail.
Not because the idea isn’t good.
It’s because they don’t know:
Who they are helping, What they help them achieve, Where will you find customers and Why would they choose you.
If you cannot clearly define these things, your online business will most likely fail.
In today’s newsletter, I’ll help you define these.
So you can build a successful business online.
Every business has 4 foundation pillars:
Your Dream Outcome (What)
Your Dream Customer (Who)
Your Marketing strategy (Where)
Your USP (Why)
And if you want to build a successful business, you need to clearly define each one, I’ll walk you through step-by-step ↓
1. Your Dream Outcome
Dream Outcome is what you help your customer achieve.
It is usually a solution to the problem you solve for your customer.
For example:
Helping someone achieve their dream job.
Helping someone lose weight.
Helping someone achieve their financial goals.
Those are some general examples of what a dream outcome would look like.
2. Your Dream Customer
Once you know what you will help others achieve, then you need to get very specific with who exactly wants to achieve this dream outcome.
Your dream customer is the exact type of person you want to help/work with.
It is someone you think you can best serve/help.
Use these 5 characteristics to define your dream customer:
Age
Gender
Profession
Problem
Interest
Note: Pick at least 3 or more characteristics to describe.
Here’s an example:
35+ year old (age), working professionals (profession), who struggle to get in shape due to busy schedules (problem)
3. Your Marketing Strategy
Once you know who you are helping and what you are helping them with, the next step is identifying Where you will find these people.
That’s where your marketing strategy comes into play.
Your marketing strategy should consist of 3 channels.
Organic Channel
Paid Channel
Primary Channel
Your Organic channel is where you believe your dream customers are.
Ex: If your dream customers are professional your organic channel would be LinkedIn because that’s where most professionals are.
Your Paid Channel is what you will use to boost your lead generation.
For this I recommend using Meta Ads because that’s the best paid channel and you can target all kinds of customers.
Your Primary Channel is what you will use to communicate with your customers.
For this, you will use an Email marketing Channel I recommend Beehiiv.
Why email..?
First reason it has one of the highest conversion rates among all channels.
Second, email is something very personal to people and if you can connect with people inside email you're bound to make money.
Third, your email list is your biggest assets in the business. People can take away your social media following, you can get banned etc. But no one can take away your email list.
4. Your USP
You can have the most desirable dream outcome in the world but if you don’t communicate it effectively it won’t matter.
Your USP will help you communicate who you are and what you do.
It will help you stand out in front of your dream customers.
And gives them a reason as to Why they should choose you.
For this you can use Who, How, What framework.
Who you help
How you help them
What you help them achieve
Example: I help busy professionals (who), get in optimal physique (what) without spending hours in the gym using my unique training approach (how).
Summary
Before you start chasing $$$ make sure you define your foundation pillars:
Your Dream Outcome (What)
Your Dream Customer (Who)
Your Marketing strategy (Where)
Your USP (Why)
It will help you get clear on:
Who you are helping
What you will help them achieve
Where you can find them
And Why would they choose you
Hope you found this helpful.
That’s it from me today.
P.S. If you want to build an online solo business, but not sure how.
Check out my Solo business blueprint
It will help you build your solo business in just 5 days and give you a step-by-step roadmap to make your first $5,000
It’s 71% off right now
Get started here
Cheers,
Darosham, Founder, TSB
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