The 5 Foundations Of A Successful Online Business

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Many people who have created a successful internet business would never have stood a chance of success in the offline traditional economy. But they have not been able to do it because they were lucky. They have built their businesses on 5 solid foundations.
1. A Proven Business Model.
Every successful internet business has a clear focus on what products and services they are providing and who they are providing them to. You have to understand how your business can solve the problems of your target audience or make their life easier. There has to be valid reasons why someone would want to buy from your business, rather than from a competitor and the whole process must offer value and be focused on the customer.
2. You Know Where To Find Customers.
You can only have a successful internet business if you have a steady flow of customers. For an online business this means prospective customers visiting your website or online sales pages. There are two primary methods for generating online customer traffic. You can pay for it, in terms of advertising, or you can generate free traffic from the likes of search engine results.
3. A List Building Strategy.
You need to have a list building strategy from the beginning when setting up an internet business. This means developing a database of prospective customers, usually by way of their name and email address. As you build a relationship with your subscribers by providing them with useful and valuable information they will begin to trust you and see you as a specialist within your industry and therefore be more willing to buy from you.
4. An Effective Marketing Funnel.
A marketing funnel is the clearly defined set of steps that every successful internet business guides their customer through. It is linked to your list building strategy. It starts with a potential customer giving you their email address for which you provide valuable information based on your products or services. Once they see and understand the benefits of what your business provides, their first actual purchase may be a low priced item, say below $50. Then, when they see the value in that purchase, they are guided further down the funnel to higher priced items, all which provide the appropriate amount of value and customer satisfaction.
5. Business Education.
It is important to invest in your business education by subscribing to useful blogs and newsletters, joining webinars and attending industry events. The online business world moves at a rapid pace. New technological innovations can transform the way most successful internet companies operate from one year to the next. To stay competitive you have to keep up to date on new technology, products, market niches and trends.
Success in business is mostly about marketing, especially online. Great marketing can sell an average product but poor marketing cannot sell a great product.

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