In order to run a profitable business it is necessary to be across all aspects of that business. The same applies even if you are outsourcing many operations within the business. And the same applies in the business of Online Marketing. To that end, this post focuses specifically on the What, Who, When, Where and How of Online Marketing.
Now the What, Who, When, Where and How of Online Marketing is not tied up in some tightly guarded trade secret. But it will take some digging to uncover it. The digging required is on a personal level.
The What of Online Marketing – What most motivates you to build your own online business?
The question is more important than working out what product or service your are marketing. By clarifying what motivates you most, you can work out what product or service will best fit with your passion.
In his first book, Crush It, Gary Vaynerchuk shares an early experience of his in entrepreneurial education. As a young boy, Gary had immigrated to America with his family. He remembers how with all his conviction he convinced his dad to give him $1000 to purchase baseball cards that he was sure he would be able to sell for a mint in the swap-meet hype. The plan was simple and seemed to be a sure bet. Gary then discovered that the total face value of the cards that he purchased was no more than $200.
But this didn’t stop Gary from discovering a means of trading up the value of his cards. As he put it, the only reason that the cards didn’t rank was evidence they were more valuable than expected. What inflated the value of the dud cards he had purchased was the strength of his passion for understanding the marketing process of trading cards. I am sure his entrepreneurial enthusiasm was enough to sway his customers in seeing greater value in those cards. Ultimately Gary managed to sell all of his cards and fully recoup his original expenses.
The Why of Online Marketing – Why do you want to build an online marketing business?
Knowing Why you want to build and online business is closely aligned with what motivates you in building your business.
When you know your purpose you will have enough reason to follow through with your commitment. Even when you are exhausted or possibly feel cornered with little prospect of success. If you can at least remember your central purpose then you can clear your view of the circumstances at hand. Most importantly success comes to those people that can connect with their conviction of purpose.
As with Gary Vaynerchuk’s experience shared above even with his first entrepreneurial ‘lesson’ he refused to accept failure. It is remarkable that even as a young kid he apparently had a clear understanding of Why he was getting into the business of trading cards; it was to learn what it takes to create value for his customers.
The When of Online Marketing – Knowing When to start an online marketing business
Knowing When to start a business is key and that key is found in the present moment.
Seth Godin wrote a classic marketing guide titled “Whatcha gonna do with .that duck”. The title is a probing question that touches on the fact that most people wanting to start a business are all waiting to get their ‘ducks lined up in a row’. The point of irony being that waiting for the perfect moment to start .a business will literally take forever.…..and never come.
The upside to building an online marketing business is that the resources to do so are easy to access. All you need is a laptop and a reasonable internet connection. It does not require a large upfront financial investment, indeed there are almost unlimited options for getting into online marketing without any money at all.
Who is holding you back from starting your own online business?
This is probably the most simultaneously confronting and empowering question to ask yourself. Whenever reading about failed businesses, thwarted dreams, you will typically also hear of unique circumstances that prevailed against those ambitions.
However, when circumstances prevent a successful outcome to reaching a goal, there really are only two ways to respond to it. One is to accept defeat and the other is to look for a solution.
Neither of those responses should be seen as superior to the other. There are certainly moments where it is important to accept and respect failure for what it is. If a political party refuses to accept defeat at the ballot box then it threatens the existence of that sovereign democracy. If a defeated sports team refuses to accept the outcome of a game then they risk being disqualified from that competition.
Any moment of failure is actually an opportunity and invitation for new growth. And that leads to the same dichotomy of options: Either we accept defeat or look for a solution.
Where is it that you want to go in building your online marketing business?
Your field of vision will come into clear view once you take time to drill down specifically on what it is that motivates you most and knowing your Why.
When you know your Why, focus on taking action in the present moment and take charge of overcoming those things that hold you back you have what it takes to forward your business. If you can see Where you are going then this can potentially be sped up. This is the same as applying affirmations to keep a clear vision of your Purpose, your Actions and your Outcome.
But it is very easy to take affirmations for granted – in at least two ways. Many people feel that positive self-talk isn’t helpful because there is no point ‘faking it till you make it’. In a world where ‘authenticity’ is supposed to carry weight and value; if you have to pretend at any moment to be something that you are not then obviously it means that you are not meant to be what you say you are! Right?
Well, yes, that would be right if you let it be right. Just remember: It’s your choice to define the type of person that you are at any stage in your life.
Victor Frankl, as a Jewish prisoner during the Second World War, chose not to succumb to his hopeless circumstances and lose all hope in life.
On another level, many others expect that affirmations are a distraction from taking personal responsibility for achieving ambitions; after all they are nothing more than words. But our words are the product of our thoughts. And if our thoughts are focused enough then they will lead to our taking actions that align with our intentions.
How will you get there?
This last point is significant in the course of choosing the actions that will determine the success of building your business. But if you can nail the preceding principles then this last point will happen naturally by itself.
Given the scope of options available for generating business online, the possibilities are almost endless. So how we get there is only limited by the extent of our imagination and creative effort. Sounds simple, yes?! However, I know exactly what it’s like to get stuck in a field of overwhelm and confusion, not knowing how I would make any progress.
As with taking on any challenge that is worthy of personal growth it ultimately comes to a choice of whether to accept ordinary (aka defeat) or to choose a path of continually challenged growth. The first option is certainly easiest but also unfulfilling. The second option requires a lot effort and focus, and by its nature is likely to endure repeated episodes of discomfort. Yet the path of growth leads to greater fulfillment.
A point to add concerning the How of online marketing: Don’t focus exclusively on the optimal actions and resources that will help you achieve your goal. In the same manner as “If you build it they will come”, if you get your What, Why, Who, When and Where of Online Marketing all sorted then you will also have access to exactly How you can make it all work.
Are you ready to take control of your life? Building your own online marketing business is a great way to do that.
Getting trained in developing my own online marketing business has empowered me to embrace the shifting chaos of the world economy right now and set up multiple income streams. Click through on the link below to get access to my Mentor’s FREE Online Marketing Workshop series.