7 Online Business Growth Strategies

Everyone wants to know how they can grow their business
Well you growth strategies for any business can be quite simple.
Sometimes when your business is completely online you don’t realize that the same principles that offline businesses use to grow businesses
Are in fact the same that you need to use to grow an online business.
And where as statistics will show that 50% of all start-ups fail in the first five years.
I want to think that if you’re online that statistic may a little more dismal.
But it doesn’t have to be if you apply these same offline business growth principles to your online business.

1. Growth Starts with You

To begin with you have to realize that no one knows or owns this business but you!
You are the value proposition.
And you have to be able to tell me in 10 seconds what value you offer me.
You have to know without a doubt
Why would anyone want to work with me.
Why would anyone want to join me in my business?
What makes ME unique.
Well the beauty about it is …..
YOU are unique.
You just need to know exactly what that uniqueness is and be able to communicate.
Are you the person that will spend 2 hours a day with a client to help them with a headline?
Are you the person who knows everything about Facebook advertising?
Are you the person they will go to when they need help with blogging?
Once you know who you are and what value you bring to the online world —-
Communicate your value proposition is such a way that people identify you as the person they want to work with at all times!

2. You can’t Grow if you don’t know your Avatar

I’ve talked about this so many times I’ve probably beat this horse dead!
Your Avatar.
Better known in the offline world as your ideal customer. 
Your growth strategy must focus around knowing who you are serving.
Once you focus on serving your Avatar you will be able to move further along your business.

3. Define your KPIs

In the online world you can easily forget that it is still a business that needs to be measured.
Growth by definition is a measurement that something is increasing.
Therefore if you are NOT measuring anything how will you even know that you’ve grown.
[Tweet “What gets measured gets done! “]
Keep that in mind.
Once you identify you key performance indicators you will be able to focus on growing those!
For example if you use YouTube to drive traffic and generate leads then you need to know;
number of new subscribers
number of leads per day
number of visits
number of views.
These are all metrics that you will want to focus on that will allow you to grow your online business.

4. Where is Your Money coming from?

You are clearly not in business for fun!
Please correct me if I’m wrong.
You’re in business to make money.
So you need to know where that money is going to come from.
In other words – what are you revenue streams?
What products or services are you selling.
For example, if you are a network marketer who has chosen to build their business completely online,
you have products to sell.
You have to decide which of the many products your company has to offer you will be focusing on selling.
Trust me you can’t sell all!
Because you don’t know all!
Identify where the money is coming from and focus on providing that the value those products to your Avatar.

5. Watch at What Others Are Doing

In the online world that is really easy.
You already know the type of business you’re in so it’s easy to identify competition.
I love competition because it helps me figure out what I need to do.
If you are not a person who looks at what others in your line of business is doing,
then you need to start.
I’ll give you a quick example –
yesterday one of the leaders in our online marketing system started promoting an event by just posting pictures of herself at last year’s event.
I realized that she was creating buzz for it.
Therefore I started doing the same thing with my blog posts about the event!
Watching your competition can only help you!

6. Focus on Your what you’re good at

As a solo entrepreneur you only have a few hours in the day anyway!
You can’t possibly do everything, so focus on what you’re good at.
We’ve seen how some companies when they tried to diversify too much into other things they eventually had to close up shop!
Don’t let that happen to you.
It goes back to the First point. Know your value and focus on that.

7. Invest in Education

If you were an offline business you’d need to invest in people (talent) to grow your business.
But the only way you are going to grow your online business is if you invest in a different kind of talent.
That means education for yourself.
We just said you don’t know everything.
But if you need to cut a video and you don’t know how to edit and you don’t have the money to hire someone to do it.
You are going to have to LEARN how to do it yourself.
[Tweet “Learning is never ending.”]
Trust me
But in online businesses you will see a very direct correlation to the growth or your business and your own personal growth.
Hope you found value from this post.
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I’m Hilary De Freitas
Online Marketer, Operational Nerd and Mom
I invite you join my newsletter and you will learn how to continue to grow your business online.
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Hilary De Freitas is a wife, mother, engineer and marketer. She is dedicated to helping mothers build a successful online business from their passions, so that they don't have to choose between career and family. Hilary has been involved in network marketing, affiliate marketing and digital marketing consulting for the past 10 years. Some of the links in this post are 'affiliate links.' This means if you click on the link and purchase the item, I will receive an affiliate commission.

    1 Response to "7 Online Business Growth Strategies"

    • Ruthanne

      Thanks so much for these 7 tips. I love your quote for point 3 – how true!

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