Would you like to know how to successfully start and grow your business? In this presentation, you will find what steps you should take, what things to keep in mind, and how to work with feedback and develop your business online.
2. Does this mean you should give up on launching and
running your own online business?
Of course not! Today, you will learn about the 13 steps
you need to take to start an effective business and
also develop it.
According to WPForms, there are up
to 24 million eCommerce sites.
3. 1. Make a test first
Try to sell your idea to people
that you don’t know. Make it at
least three times. That ensures
that you get objective results from
your test.
That’s the vital step you have to
take before investing in your
future business.
4. 2. Describe the main
idea
Put all your ideas and visions together
and write them down. Describe why
your products or services are good.
Also, think of what makes them 10% or
even more percent better than
products from competitors.
5. 3. Now make it ten times
easier to launch
At this stage, try to minimize your costs. Build an MVP
that will be enough to present on the market and gather
the first feedback.
You don’t want to spend hundreds of thousands of
dollars on product launch and development without
knowing if customers will even buy it. So, gather your
feedback and make some changes if needed.
6. 4. Create the first
version within one
to three months
Simplify your initial business idea so
that you can create it within just one to
three months and spend not more than
10%-20% of your budget at this stage.
We advise you to do so, while in reality,
the whole process might take even
longer. Besides, you will need most of
your budget in the next stages.
7. Item 1 Item 2 Item 3 Item 4 Item 5
40
30
20
10
0
5. Launch and attract the
first visitors & customers
with a minimum budget
It’s possible to do it quickly and easily
with paid ads. You need them to get the
first buyers and get feedback from them
before you actually start developing and
upgrading your products.
Generally, you will see if people are
interested in your services at all and what
they want you to improve.
That’s a really essential part, as you don’t
want to waste budgets on goods nobody
buys.
8. 6. Once you’ve got the
first sales - gather &
analyze feedback
Talk to your customers and find
out what they need, why they have
bought your product, and what it
lacks. Ask them many various
questions related to your goods.
The point is to do it yourself, as
only you know what questions to ask
and how to interpret users’ answers.
Moreover, sometimes you will need
to guess what your customers really
meant but haven’t told you.
9. 7. Improvement and
new launch
Take care of on-page optimization,
Write quality and unique content,
Do off-site optimization.
Improve your product or service and
your website to increase conversion
rates, then launch another small
campaign.
At this stage, you can invest in SEO.
Do the next three things in terms of
SEO:
10. Create a great landing page
with good copywriting
Make a stunning and
engaging headline
Add a sign-up form while
it’s a must
8. Grow your
conversion rates
To increase your conversion rate, make
the following improvements to your site:
Add reviews from happy
customers
11. 9. Increase investing when ROI comes
closer to zero from big minus
As soon as your conversion rates allow your advertising to pay off
at least 10% (i.e., you spend $1,000 and you get $900), start
increasing your ads spendings (if you have investments, of course).
These investments in ads will pay off with time and start generating
more profit, thanks to returning customers.
12. 10. Build a sales pipeline
to better track, analyze
and improve your
conversion rates
Don’t forget to find all your bottlenecks
- stages where you lose most of your
customers. Ask yourself what you should
improve first.
Focus on increasing the weakest places
of your pipeline because the Pareto rule
says: “20% of efforts bring 80% of
results.”
13. 11. Remember the income formula
A formula for your business success:
People * CTR * CTL * CTC * LTV * Margin = Your income
people - the number of people who see your website
CTR - the percentage of Click Through Rate
CTL - the percentage of Conversion to a Lead
CTC - the percentage of Conversion to Customer
LTV - an average Life-Time Value of a customer, which depends on the
number of repeating purchases and customer lifetime in your business
Margin - the percentage of margin of your business
A pro tip: If you increase each value of the formula by at least 15%,
your income will DOUBLE
14. 12. Keep gathering
feedback from your
customers and making
ongoing improvements
Feedback collection should
become an ongoing process in
your business, as well as always
tracking and increasing your
conversion rates at every stage.
15. 13. Hire the best specialists
for the money that you can
afford
You shouldn’t hire all specialists at once.
Take each step one by one, starting from
the most important roles.
People are the most important part of your
business. That’s especially essential for
your growth stage company.
16. 25% of new businesses make it
to 15 years or more. And we
want you to be among these
successful entrepreneurs!
So, use these helpful tips to
successfully launch and grow
your business.
17. Hit us up via:
Make sure your
business is visible
online! Build quality
links to rank higher
on SERP.
Email - support@adsy.com
Website - adsy.com
LinkedIn - @Adsy - Guest Posting Service