5 Tips for Building a Successful Online Business

Of course, it is good to set big goals and dream big, but surprisingly many budding entrepreneurs and business people at various stages of business development either don’t or can’t grasp what’s fully required to hit their goals. Sure, generating a million dollars within five years from start-up with an online business is an admirable goal. However, do you know what it’s going to take to get there and ensure that you don’t become today’s “flash in the pan”?

With that in mind, here are five online business success tips that if followed will make you and your business stand out and help you reach your goals:

1. Be Yourself!

Your business is an extension of you, no matter how big or small it is at the present time. It will succeed or fail by how others perceive your brand, and ultimately how they feel about doing business with you. All aspects of your business (customer service, product creation, back office) should respect your values.

The old adage that people like to do business with people they “know, like, and trust” is even truer today. Even with the largest companies, people want to see the CEO come out to represent the company and speak on behalf of it.

Authenticity is the key. You’ve got to be you, whether it’s the smooth, sophisticated type or the person with rough edges and an attitude to match. Only you know what works for you and your target audience, but the one thing that can guarantee failure is not being authentic.

If you’re not comfortable being the representative of your business you’ll still want to create some type of persona to represent your company and brand and humanize your business as much as possible.

2. Over Deliver

Set benchmarks for yourself with your products and services, and try to exceed them, simple as that!

This is especially important with your initial offerings, because a strong first impression may mean a host of customers for life. Just imagine the glee on people’s faces because they feel that they have got the better end of the deal! It’s your reward for having given so much value at such a low (or reasonably low) cost. Certainly, expectations will constantly be high, but that’s the way it should be. 

Note: When I refer to “low cost” I’m not referring to the actual price. I actually don’t believe that competing on price is the best way to compete; rather the perception of the price should be considered a great value from the standpoint of your customers and clients; even if you are charging premium prices.

Over-delivering means going beyond the call of duty at all times to become not only a viable business but a market leader that all others admire and envy.

Remember the purpose of a customer is not to make a sale, rather the purpose of a sale is to get a customer. Make their first purchasing experience with you a great one and they’ll continue to buy your products over and over again increasing the lifetime value of your customers an maximizing your revenue.

Read More at https://www.thebalancesmb.com/building-a-successful-online-business-2531659

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