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The 1 Key to Success for Any Online Business

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The 1 Key to Success for Any Online Business

This isn’t some farfetched silver bullet b.s. blog post. This is the truth and some of it might come across as counter-intuitive initially but once you start reading through this blog post, it will start to sound like common sense.

Good! That’s the point. I want to reinforce the point in this blog post. It’s like some of you fell asleep or got amnesia and forgot who you’re serving: your customers.

Stop focusing on sales and the bottom line.

I know, money is important and businesses ultimately exist to make money.

However, if you’re purely focusing on just making money, you’re playing the short-term game.

Focus on creating and adding value.

I know I throw those buzzwords around a lot on this blog but bear with me.

You can make money without focusing on creating value by doing things that are purely to make money, however, that is playing the short game and not the long game.

The long game is all about building that lifetime relationship with your customers or even your audience if you are a content creator like myself.

Value? what?

So then, what is creating or adding “value” to your customers or audience?

Creating value for your customers is the pursuit of solving their problems out of nothing. Adding value is expanding on your solution and doing things that differentiate yourself from your competition as well as build a relationship with your customer.

Usually the value there is that it saves them time, it’s convenient, it gives them something they didn’t have before or it saves them money.

But for most online business owners, they should focus on adding value. You might already be selling a product or service, or trying to start an online business.

How do you add value?

The first way is to simply ask your customer. Ask them what would make their life better in relation to your product. Ask them what they want more of or ask them what would make the process or transaction of them doing business with you even easier.

For example, you’re a Mexican restaurant that serves tacos. You gauge your audience and they tell you that they love the food but getting down to your restaurant during lunch is a pain in the neck with all the traffic. How do you add value? Free delivery during lunch to all local businesses.

Another example, you run a blog. Readers love the content and you start seeing a pattern that most of them read your content while commuting to work and you hear from them that they’d love more content. How do you add value? Launch a podcast that releases new episodes every other morning that your audience can listen to on their way to work.

The other method is to create content that helps your customers. Having a content strategy is great for driving traffic but it also helps add value. If you sell dog food, create a YouTube channel for your customers teaching them how to take better care of their dog and keep their dog healthy.

Why bother doing this?

Focusing on creating value for your customers means you’re focusing on the lifetime value of your customers. You have the forethought to understand that the easiest person to sell to is someone that has already done business with you. Plus, turning your customers into fans only means they do the marketing for you. There’s no stronger sales person than an unbiased individual that recommends your business to their friends.

Also, business is extremely competitive now. There’s very little left to compete on. Most businesses are able to provide the same features, quality and even price. However, if you differentiate yourself by adding more value to your customer, it will not only build up that relationship with them as mentioned, but also provide you a competitive edge.

Start now

How can you add more value to your business?

Start by asking your customers or audience and start by looking at competitors and seeing the gaps in the market. See where you can step in and do more for the people your business serves.

How do you plan to add more value in your business? Let me know in the comments below.

Published in Entrepreneurship Personal

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