Business Foundation

Lay Your Business Foundation

If you are going to build a house, I’m sure you are aware of the importance of a solid ground to put it on. Same goes for a road where heavy traffic will run. And I have to tell you that building a business is nothing different. You need to have a solid foundation if you are going to be able to grow and leverage your business in a good way.

I’m going to cover 4 pillars you should have a clear idea about before you start to lay the first layer of bricks in your business.

The first one is WHY?

Why are you doing this? This is a question you need to ask yourself. Not only once, but repeatedly from time to time. What do I mean with “why”? Well, first you need to know the reason behind your business. Is it because you want to give your family more time, and to be able to do that you need to build an online business so you can quit your daytime job? Is it that your health is getting worse and you need something to replace your job? What’s the real reason behind? Not only “I want to earn a lot of money”, but why do you want to do that.

When you have identified your real reason, you need to set some goals? When do you want to quit your job? How much do you need to earn before that can be possible? And then you need to divide that up to more detailed goals. Let’s say I analyze and figure out that I need to earn $120.000 per year before expenses to be able to quit my job. Then I need to break it down to $10.000 per month and further down to $2.500 per week before I can leave my job. The next step is to identify when this has to be done. So let’s say I want to be able to reach to that level within 1 year. Then perhaps I need to be able to earn $500 per week within the next month, $1.000 per week within the next 6 months, $2000 per week within the next 9 months and $2.500 per week within the next 12 months. Break down your journey in to pieces that you can grasp and expand from there. And what’s your long time goal? Set this up and post it so you can see it every day. Let that be the thing you see first time in the morning, during the day and just before bedtime.

Second thing is Niche

In what niche do you want to build your business?

What are you passionate about? Something you know a lot about or at least something you want to know a lot about and willing to learn. You have to figure out in what niche your business will be in. There are some big evergreen niches like make money online, health and beauty, relations. These big niches will always have customers. Then you have golf, gardening e.t.c that are more seasonal. But they can be very profitable as well. So what you need to do is to decide your niche, learn about it and start to communicate and market to your audience.

hubNext thing will be to build a hub

My advice is to build a hub where your blog will be the center of everything. You should as soon as possible build a blog. The best recommendation is to use WordPress. It’s a very easy and customizable cms, all for free. Go to wordpress.org and download the latest version. Install it on your choice of webhost with the domain name you have previous bought. If you don’t know how to do, then you can do two things. Either search on YouTube for “install WordPress” and you will find several guides on how to do, or you can watch my video where I will cover the whole process, step by step.

When your blog is up, start to post articles for your targeted audience.

You should also create a FB page in your niche, a YouTube channel and also a Twitter account. And make sure that when you post on any of them, link back to your blog. If you do that, you fill get traffic from all different places. There are more social media portals, but these are the first you should build and grow.

And finally Traffic

And when speaking of traffic, this is a very important brick in building your business. Traffic can be seen in many shapes. You have cold traffic and warm traffic (warm is the best one). Then you have so kalled “free” traffic and paid traffic. The reason why I call it “free” is that you don’t pay for it but instead you have to put down work and time. And your time is not free. That’s why I do that distinction. I will cover much more about the different types of traffic in coming articles, but to start you should create articles and also post on FB, YouTube and Twitter to start with. When doing that, you start to put up signs  that you blog is online and well worth to be visited.

Now I would like you to post your comments and questions below. Also let me know if you have any special topic you would like me to cover.

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