An online business that stands the test of time would have to have four things.
These four things are the key to success in business whether online or off.
Every successful business has cool busines names them.
You can’t build a successful business without them.
They are:
Location
Products
customers
Marketing know how.
Applied to the internet they are
A website
Products or income streams
Traffic or customers
Marketing Know how.
These are the four pillars of online business.
They are indispensable to the success of an online business.
And if you must have a business that would thrive for a long time it must have these four things working perfectly together.
It’s not always easy to put these things together in one place and for the average person it is near impossible.
It takes a lot of hard work and resources.
That’s why when starting an online business its best to leverage a program that already has them in place.
Where all the hard work has been done and all you do is just promote and profit.
Businesses fail generally when they lack one or more of these things or when they are not well formed together into a strong unit.
The most important element of the four is the product.
It is the king of the business.
It is the reason the other three things are there and is what should get the most attention especially at the developmental phase.
A product makes or breaks a business.
You can be the smartest marketer in the world and know the best and most effective marketing techniques and methods, but you would look like a rookie if you sell a dud.
So if you want to start and build a lasting online business you must make sure your product is top notch.
A hard to sell product would hurt your profits.
You must work on your product until it’s right. Until it’s what a lot of people would go out on a limb to buy.
This is the most important determinant of success in business.
What if you can’t create a product of your own?
Simply join an online business program that has one.
How can you tell if a product is popular or not?
Just find out how many reviews there are for that product and the quality of those reviews.
That’s a rough but effective guide.
The second most important element of the online business quartet is your know how. Specifically your marketing know how.
When you combine a quality product and great marketing the result can be explosive. You can really make a lot of sales.
And no matter how great a product is it cannot really sell itself. It needs marketers. Which is why marketing is a crucial part of any business.
These two: great products and great marketing form the backbone of lasting online business success.
Every product must have a market otherwise it’s a waste of time. There must be people who want to buy that product. People you will be selling to.
A business ultimately is about people.
No people no money.
It’s as simple as that.
The last but not the least is your “shop”, your website which may serve as the place where the customers come in contact with your product after you’ve marketed it to them.
It is this wheel of product, marketing know how, customers and location that makes an online business successful and lasting.
That’s what you must have if your business would last a long time.
And the easiest way to have these is to join an online business program that already has them.
So you don’t have to do every thing on your own.
Because if you do you are likely to fail.