Tag: Entrepreneur

How To Start an Online Business and Succeed

how to online business start

Did you know that every day you procrastinate starting your online business it’s affecting you?

Yup, that vision you keep seeing for yourself and your family gets further from you when you don’t start.

But it’s not too late!

I’m going to answer all the questions you might have regarding starting an online business for the first time.

A few of the basics including what type of online business you should start, how to scale it, and what makes an online business successful.

franknez.com

Welcome to Franknez.com – the blog where you can digest content on personal finance, side hustle ideas, entrepreneurship, and trending investing topics.

Lets get started!

A little bit of background before I break this down.

I left my 9-5 working for the family business in order to start my own online businesses.

One of them is a hybrid model.

With this business I sell a service and product remotely.

The second online business is 100% online, earns 5-figures per month, and I don’t sell any products or services!

This is the type of business most of you might want.

And I’m going to break down step by step how you can do this too.

Key Points and Questions

  • Where and how to start an online business
  • Online business ideas for beginners
  • What makes an online business successful
  • How to scale an online business
  • What type of online business should you start
  • Why are online businesses popular nowadays
  • How does an online business work
  • Why online businesses fail
  • Can an online business make you rich

why are online businesses popular nowadays

Online businesses are attractive because they tend to provide people with a freedom like no other.

People like you and I are ditching our 9-5s to provide value online and at scale.

Which leads me to the second reason why online businesses are so popular.

You can scale an online business quicker and larger than a traditional business.

An online business will provide you with the freedom to work from home or anywhere else in the world.

If you value the freedom to travel then know that this is what an online business can provide for you.

Travel While You Work

Also known as the laptop lifestyle, traveling while you work requires discipline.

However, the lifestyle provides a freedom working in a desk will never provide.

Notice I said travel while you work not work while you travel.

That’s because life changes when you get your freedom back.

You’re technically working all the time while enjoying your surrounding freedom.

The first taste I got from the laptop lifestyle is when I went on vacation to Rocky Point while working a sales commission job.

And even though I was on vacation, I still had obligations for my clients.

We were in this beautiful luxury apartment with a stunning view of the resort and ocean.

That day we arrived I had emails to answer and clients to call back.

Keep in mind at that time I was managing my clients from an office.

That’s when I first discovered this freedom.

Here’s a picture of my son Frankie chillin as we unpacked food in the apartment.

I knew that if I wanted a life like this, I would need my online businesses to out-earn my salary.

That’s not how it happened though, I took the leap and eventually went all in.

More on that later!

Scalability Skyrockets Your Income

So not only do you get your time back but you have the advantage of earning a ton of money with an online business.

The reason being is that most online businesses can be scaled MASSIVELY.

Online businesses can all be scaled very differently.

Some are easier and quicker than others while a few businesses do take more time.

Now, just because some online businesses are easier and quicker to scale, it doesn’t mean they don’t require a lot of hard work and attention to detail.

An online business is still a very real business.

Your new business will require you to put your real life skills to work in order to manifest your career goals and that dream life.

Online businesses are the reason why you see and hear about a lot of younger people earning 6-figures per year just from their laptop.

I’ll get more in depth on how you can scale your online business a little later.

Here’s how you start.

How Do You Start an Online Business?

how do you start an online business

How do you start an online business, right? Where can you start an online business?

These questions usually leave beginners a little mind boggled.

How exactly do you turn nothing into something?

The answer is actually quite simple.

You’ll need a website or online platform to use depending on your niche and type of business you’d like to create.

Your website will be your foundation to your entire online business model.

It doesn’t matter what type of online business you create, but you’ll need either a website or platform to begin.

I would personally avoid a free website like WIX only because it will not provide you with the tools necessary to scale.

The purpose of an online business is to scale it enough to provide you with the financial freedom you deserve.

So, for starters, I recommend building your own site using Bluehost.

It’s very easy to use but if you don’t want to spend the time personalizing your own site you can always pay a few hundred to thousand dollars to a professional who will use the same platform.

What type of online business models require either a website or platform to begin?

If you are interested in the following, you will need a website:

  • Blogging
  • Providing online services and consultation
  • Reviewing products

If you prefer the following, you’ll need a platform:

  • Selling a product
  • Entertaining
  • Visually informing or training

It may not seem like a ton of options but believe me there are many niches within each of these categories.

How does an online business work?

An online business provides value online, and you get compensated online.

Your online business will earn money depending on what type of service you provide.

You will get paid depending on how your online business is monetized.

I’m going to go over this more in detail down below.

What Online Business should I start?

The online business you start is going to depend on these 5 major key points.

Ask yourself:

  1. Would you rather provide a service, provide information, or sell a product?
  2. Are you looking for a more hands-on experience or more virtual experience?
  3. Do you want to earn money per project or passively?
  4. Will your startup require a lot of capital, or very little to no capital?
  5. How important is mass scalability to you?

By answering these 5 questions, you’ll have a grasp on what type of online business you’d like to create.

Below you will find a number of online business ideas that will help you identify which model aligns with your needs.

Online Business ideas for beginners

I’m going to break down all the things you can do with these online business models.

Your personality and intuition will naturally gravitate towards a specific idea.

Blogging

blogging

This is a writer lovers paradise.

Blogging allows you to share your experience, knowledge, and stories at massive scale.

What makes blogging an attractive online business model is that just about anyone can provide value to an audience based on a particular niche or subject.

Entrepreneurs are blogging about really just everything!

Here are some blogging topic ideas:

  • Write about your experience in ‘X Industry’. Maybe you love the industry you work in or are an expert in it. Write about it and answer questions people might have on a variety of subjects pertaining to your industry.
  • As long as there’s a real interest in it, you can blog about pretty much anything. People are earning money blogging about travel, teacher life, mom or dad life, pet life, college life, automotive, tech, and so much more!

How Do Bloggers Earn Money?

Bloggers earn money through a number of ways.

One is through display advertisements, like the ones you see on my website. T

he second way bloggers earn money is through affiliate programs.

Bloggers can earn a commission for making a sale of certain products or services.

Bloggers may even sell their own products or services online.

How Much Money Do Bloggers Make?

Bloggers can earn 3 to 6-figures per month depending on how you monetize your website.

My website currently earns 5-figures per month.

Scaling your audience is key to scaling your online business.

If starting a blog interests you be sure to read the beginners guide below.

It will walk you step by step on how to start using a self-building website platform called Bluehost.

The process is very easy and only takes minutes to set up.

Read: Blog like a champ in 2021: Easy beginners guide

Online Services and Consultation

online business services

If you already come from a consultation background, you may find this online business idea to fit your expertise.

Find a niche you’d be interested in providing value to.

Consulting may revolve around relationship advice, marketing consulting, social media consulting, business / sales, financial, etc..

This online business model will require you to be available on call or chat when a prospect reaches out.

A website could be a net for you to catch fish.

You may accept payment with Zelle, Venmo, Cash App, or PayPal for example.

Examples of online services

You can provide online services through your own website, or through a platform like Fiverr.

Services you could provide may include:

  • Reviews (blog or single website)
  • Site building
  • Social media management
  • PowerPoint building
  • Graphic designing / vector / digitizing
  • Video editing / audio editing, mixing (engineer)
  • Training / Health, diet schedule

The costs of your services and consultation will all vary depending on your niche and expertise in your field.

An online business based on consultation and services only will be limited to scaling unless other monetization is included in your business model.

You might want to provide affiliate products that can provide further value to your customers.

This will allow you to earn a commission for every sale you make on top of your consulting and service rates.

You can also incorporate a ‘blog’ section where you can direct your website visitors to and earn revenue from displaying ads.

E-Commerce Store

ecommerce store

E-commerce is the way to go if you’re looking to sell products online at scale.

There are two type of products you can sell online.

  1. Physical products
  2. Digital products

Selling products online are a great way to diversify your income.

You can either have a full-on Amazon store as your main online business, or you can create a small store to earn extra revenue on the side.

Physical Products

Physical products will require you to drop ship directly to your customers via manual entry or using an automated system.

The best platforms for this niche are Shopify, BigCommerce, and WooCommerce.

But if you want to build an e-Commerce business you’ll want to go with Amazon.

You can set up your own branded store with these platforms and use them to ship sell and ship product out to your customers.

This type of online store is scalable when you’re selling product that’s trending and in high demand.

Find your niche and cater them using your own online store.

Digital Products

Digital products on the other hand are a lot different.

You’re not selling hard copy of anything here.

A digital product could be a video, a course, an e-book, an audible, art, etc..

You can sell your own self published e-books using Amazon KDP and other products using a Shopify store.

If you have a blog you can also integrate WooCommerce with WordPress and sell directly to your readers from your website.

A digital product can earn you passive income / leveraged income while a physical product might require more of your time.

If marketed correctly, it can also scale much higher; especially if presented to a huge audience.

Reaching The $10K Mark: How Perseverance Overrides Adversity

Reaching The $10K Mark - Sales

In my eBook, Reaching The $10K Mark, I talk about the adversity I faced during my sales journey to reaching $10K per month in sales.

Every time I was close to reaching my goal the waves would come crashing down on me further pushing me away from the tide.

This motivational eBook captures the world of every aspiring seller striving to make it big in their sales career.

This is the first digital product I created and I wrote this with a lot of heart.

The moral of this story is how perseverance overrides adversity.

I wanted to create something personal that showed another person that we are all human beings and that we all come across setbacks in life.

My goal is to inspire you to keep going.


Become a YouTuber

Become a youtuber online business ideas
Online Business Ideas – YouTube

Lights, camera, money!

YouTube is a great platform for you to provide value at a massive scale.

YouTubers for the most part entertain no matter the niche.

Like blogging, you can share your knowledge and expertise in video format whether it be a vlog, instructional videos, or illustrational ones.

Anyone can create a channel and upload videos no matter your niche.

This type of online business will require you to be a little tech savvy, or outsource that work to those who are.

How Do YouTubers Earn Money?

Like bloggers, YouTuber’s main source of income is through displayed advertisement.

However, as your channel grows you can also leave affiliate links in the description of your videos to diversify your income from your viewers.

The amazing thing about YouTube is that once you’ve monetized your videos, you begin to earn money in your sleep.

As long as people are watching your videos on loop you will always be earning money.

This is what’s known as leveraged income.

If you love to travel, you only need to pack up your filming gear and move it with you to produce content no matter where you are.

How Can I Incorporate YouTube With My Niche?

If you’re into tech you can always review products or film unboxing videos.

People love this type of content.

You can then diversify your income by leaving amazon affiliate links to the type of gear you use in the description area of the video.

If your audience loves your channel to the point where they want to support your work they can always become a patron.

My patrons altogether cover most of my website’s monthly expenses.

If you’re a trainer, you could combine the use of YouTube with your website to generate leads.

Not only can you upload content to YouTube, but you can also provide consultation or 1-1 virtual training sessions.

It’s really all about creativity and leveraging these ways of earning money online to benefit and scale your online business.

How to scale an Online Business?

So how exactly do you scale an online business?

Audience is key. You’ll need a lot of eyes on your product, service, or content to scale your online business.

Once you’ve figured out how you’ll be monetizing your online business you’ll need as many people as you can get over to your website.

The more people that see you means the more possibilities you have to earn big money.

#1. Produce quality content

Quality content is going to be the foundation to your online businesses’ success.

People want to consume and buy quality product, services, and content.

Take as much time as you need to ensure your content is superior to that of your competitors.

Forget what they’re doing, just do what you know how to do but do it exquisitely.

Quality content never fails to be noticed, recognized, and appreciated. In fact, quality content has a higher chance of being shared on social media and referred through word of mouth.

Everything on this list can be perfect but if you’re not producing quality content then your online business will not be taken seriously.

Take your time to learn something if you have to or invest in the tools to make your presentation look and feel better for the engaged user.

#2. Search Engine Optimization (SEO)

Search engine optimization is the key to a successful and high ranking website.

You build your SEO by using the correct keywords and building backlinks to your website.

When you’re building your website you’ll want to make sure you’re using keywords that reflect what your online business is offering.

This will give you a higher chance of being found organically on Google, Yahoo, and Bing.

Don’t be discouraged if you aren’t seeing your online business pop up on Google right away.

SEO takes time to build but trust me, Google will automatically start ranking you after a few months of being active online.

Meta description, titles, subheadings

SEO is also heavily influenced by your website or platforms description, titles, subheadings, images, and even what is being vocalized in a video.

The more you stay on topic means the higher chance you’ll have at ranking higher in the organic search and recommended results.

#3. Social media marketing

Scaling your online business is heavily dependent on the use of social media marketing.

You’ll need to identify which social platform best connects with your target audience the best in order to drive traffic to your website or platform.

Get involved in Facebook Groups, relevant Twitter topics, or even network using LinkedIn.

Every niche and every website/platform will connect with a group differently.

Sometimes it takes time to find which will work best for your online business but you must find it.

Sharing your content, service, or product on social media is the first step towards promoting your online business.

Once you’ve worked on your SEO, you’ll want as many people as possible to click on these ‘backlinks’ leading them to your landing page or video.

Google loves backlinks and actually ranks you higher when you have plenty of them which means you need to consistently be sharing content that drives people to your site.

#4. Be consistent

Search engines begin to ignore you if you stop producing content so be consistent.

This is the part of building any type of business whether it’s online or traditional that requires patience.

You cannot expect to produce content once or ten times and start seeing huge results.

It takes time and effort.

Consistency is going to improve your marketing and pitching skills online.

It’s also going to make you produce better content for a bigger audience.

When search engines see your links have been spread around consistently for quite some time, your domain authority begins to climb meaning your visibility also begins to climb.

#5. Brand your online business

The fifth tip to scaling your online business is to brand it.

Branding your business is more than just a logo.

It’s the character of your business, the personality, and the likeability.

Your brand should attract your customers or audience and make them feel like they belong.

Did you know that you can evoke emotion through colors?

I get a little more into detail here with this marketing strategy, but the key is to create an identity.

When you create an identity, people will remember you and come back for more.

This is how you can get your customers to use your services again, buy another product, or indulge your content every day.

In the beginning, your brand will change from time to time.

This is 100% okay. Branding is about discovery and this takes time.

Your brand will slowly begin to reveal itself to you as you continue to push forward.

What makes an online business successful?

what makes an online business successful

To me personally, an online business is successful when it is able to provide you with a certain freedom a 9-5 can’t.

Whether it be more family time, personal time, recreational time, or even money, it’s different for every individual.

Perhaps you’re making a little less with your online business than you were from your corporate job but at least now you have more time with your family.

I see this as successful.

Maybe you keep scaling it and now you earn your previous salary every month.

I’d say that’s tremendous success.

My online businesses have provided me with the freedom to work from anywhere I please and to earn money in my sleep.

I could work less hours, but my work ethic doesn’t allow me to.

I have to constantly be providing value because as an entrepreneur, nothing is truly every secured and my family’s financial freedom is that important to me.

I make every minute count and I’ll ease off the gas pedal when I reach certain milestones.

Work hard now rest later!

Can an Online Business Make You Rich?

can an online business make you rich

I think you know the answer to that.

Due to how scalable online businesses are they can certainly provide substantial income to by most standards be considered to be wealthy or rich.

They key to your wealth will heavily resonate with the amount of people you’re able to provide value to.

You will become wealthier if your scalable model can reach 1 million people oppose to 100k people.

There is no shortage of people by whom you cannot provide your services to.

It’s a matter of figuring out how to get in front of them.

Everyone is fighting for attention one way or another.

Your job as an entrepreneur is to figure out how to stand out so that your product, service, or content is seen.

The marketplace will then decide whether or not your product, service, or content is worth buying, using, or indulging in.

So, be sure quality is always the first thing in mind when building your online business to provide value at scale.

Why Do Online Businesses Fail?

Like almost anything else in this world, any endeavor will fail once you stop working on it.

It’s really that straight forward.

If the marketplace didn’t react well to your service or product and you quit then you were the reason for the businesses failure.

Instead of tweaking and perfecting your product or service you rendered in self defeat.

Online businesses fail when their owners are defeated by adversity and barriers along the way.

An online business is not worth failing over.

The upside is too valuable.

Write that down in case it ever gets overwhelmingly difficult for you. “An online business is not worth failing over. The upside is too valuable”.

Online Business Courses

Should you attend them?

This is a financial literacy blog and financial literacy says don’t sign up for online business courses when in the end, you end up learning from experience instead.

I didn’t take online business courses, but I did attend a private college and earned my associates degree in business administration.

I was left with $50k in debt and didn’t know how to sell, apply social media marketing, or file taxes for a small business.

You have to understand that any school offering you any online business management degree is scamming you.

They’re a business themselves.

They will teach you theory and give you a good grade for your efforts and presentations.

But they will not teach you how to become a successful entrepreneur. That you learn on the streets.

Online Business School

I’d be lying to you if I didn’t personally look into online business schools after I received my associates degree in order to ‘further my education’.

It wasn’t until I began earning money in a sales position where I learned that there was no need for me to attend an online business school.

Online business school wasn’t for me at this point.

In fact, my business professor wasn’t a very successful entrepreneur. He owned a volleyball team but the startup was a partnership.

And he had given up on it and referenced selling his half to his partner quite often.

Online Business Management Degree

If you’re thinking about getting an online business management degree through an online business school, I would take financial literacy a little bit more seriously.

You can invest the money for your tuition into your startup instead!

The money could go towards gear for that YouTube channel or towards your domain name and website configurations.

There’s so much more you can do with that investment.

An online business management degree will not teach you the real world aspect of running a business or managing people.

Start off small and work for a small business to gain exposure and experience.

Learn the ropes and start with data entry.

I began my journey managing a small team due to my leadership skills, not through my degree.

Start there and see how much further that takes you.

Start Your Online Business Today

Franknez.com

Stop procrastinating.

You got this!

Get excited about it and start taking your first steps towards that new life.

That vision you keep seeing is the preview to life’s upcoming attractions.

And if you’re lacking strength to get started then I encourage you to borrow mine.

Borrow my strength to start.

I believe in you.

References

Connect with me on social media!

Twitter | Facebook | Instagram


How To Overcome Self-Doubt as An Entrepreneur

How to overcome self-doubt as an entrepreneur
Overcoming Self-Doubt as an entrepreneur

Self-doubt is something all entrepreneurs fight from time to time.

Some more than others.

I can say from experience that it tends to be more present in the beginning stages of your entrepreneurial endeavors.

However, these feelings always find a way back.

No one is immune to them; we just get better at overcoming them.

franknez.com

Welcome to Franknez.com – the blog that provides you with content on stocks, crypto, and entrepreneurship. Today we’re discussing that little voice in our heads that says we’re not good enough.

Let’s get started!

A Little Bit of Background

scared of failing
Are you scared of failing?

My first startup failed, and so did my second one.

The third one survived but wasn’t scalable and I’ve since changed its business model.

But it’s my fourth and fifth startups that are really my babies today.

One of those startups is this blog.

It has had a lot of success though it didn’t happen overnight.

And the other startup is a hybrid online business in an industry I have been in for 6 years now, though I will be starting my third year in business in 2022.

Both these startups have very unique challenges.

And I know all too well what it feels like to have that voice in the back of your head question everything.

Self-doubt crushes people’s dreams and is one of the biggest reasons why most people never get started.

Here are some ways I’ve found myself overcoming the fears and self-doubts as an entrepreneur.

#1. Get Clear on What You Want and Don’t Want

get clear on what you want and don't want

Why are you an entrepreneur?

Perhaps you couldn’t work for someone anymore and you’ve understood your worth.

There are many reasons why entrepreneurs become entrepreneurs.

What’s helped me overcome self-doubt is thinking back on why I’m doing what I do.

When I think back to my ‘why’, I remember that swimming with the sharks is where I’m meant to be; despite how challenging it may be.

I find it’s extremely important to remember the type of lifestyle you’re working towards creating for yourself.

When you’re questioning your belief in yourself, remember about the things you don’t want in life.

Because the things that you do want in life, someone else has already accomplished them.

That vision you keep seeing, it’s a preview to your future and it’s possible.

#2. Practicing Affirmations

Affirmations

As entrepreneurs, sometimes we catch ourselves thinking negatively about ourselves due to the lack of results in the ‘now’.

That voice inside our heads beats us up into thinking we are not what we want to be.

However, you must understand that you are what you say you are.

And you also are what you think you are.

Practice writing affirmations down that align with your goals, desires, and ambitions.

Affirm what you are and affirm what you are to accomplish.

“The Secret” teaches us that we must speak, act, and feel as if we’ve already accomplished that of what we set to reach.

This shift in mindset elevates your vibration of energy so that it is parallel to that of which you seek.

Write down your affirmations and speak them into existence.

There are a number of great affirmation videos you can listen to on YouTube.

Make it a habit to practice affirming the life you want.

#3. Consume Content to Guard Against Self-Doubt

Entrepreneur Content

One thing I’ve always done to overcome self-doubt is to consume motiviational content.

Motivational content helps, but you shouldn’t depend on it.

Consume it when you feel like it will provide you with value in that specific time and moment.

Some of the best places I found my motivational content was on Instagram and on YouTube.

Follow accounts that publish motivational and positive content.

This content will remind you that we are all facing adversity but have the capabilities to attain all that we desire.

YouTube has been an incredible platform for this type of content as well.

There’s so much content on YouTube from Tony Robins, Gary Vaynerchuck, Grant Cardone, Steve Harvey, and others that will inspire you.

Listen to them while you’re on the road or while you’re working.

One thing you’ll learn is that even the most successful people on this planet have felt what you’ve felt and are currently feeling.

#4. Continuously Educate Yourself

Overcome self-doubt by educating yourself

This is where we’re truly separated from the rest as entrepreneurs.

It’s whether we decide to progress and learn or not.

I find that reading books and learning from mentors online keeps me grounded and knowledgeable.

It’s when I’ve educated myself that I feel confident in what I do.

As entrepreneurs, we don’t have the answers all the time.

It’s up to us to continuously find creative ways to solve problems.

There was a time where I didn’t want to self-promote because I simply didn’t feel ‘right‘ doing it.

After educating myself in marketing books, I discovered that self-promotion is simply showing your work.

Continuously educate yourself to overcome any sort of self-doubt that may be limiting you to being seen by the right people.

There’s a book or an online influencer for every insecurity you’re feeling about your growth in business.

Seek the help you need to tackle these weaknesses to prosper.

#5. Speaking Your Concerns Out Loud

conversation

Sometimes just talking out loud to yourself or your partner is a massive stress reliever.

I found that when I had self-doubts and I discussed them with my partner, it would help to simply just hear them.

If you have an amazing partner that supports you all the way then they will encourage you.

But if you don’t, write them down and say out loud what’s worrying you.

I find it’s better to let these anxieties out rather than keep them in.

This is the perfect time to turn to your affirmations to shift your mindset.

Rather than thinking about what can go wrong or what isn’t going your way, think what can go right and just how far can you really take things.

There would be evenings where I would express to my partner a concern and then I would end up finding a solution right then and there without her having said a word.

As crazy as it sounds, the therapeutic effects have allowed me to overcome self-doubt by finding solutions instead.

#6. Go Back to Your Vision Board

Vision Board

Our mind is constantly trying to self-sabotage itself.

And it’s primarily because of habits that have been embedded in our subconscious mind since the day we were born.

As an entrepreneur and as a growing person, it’s up to us as individuals to reprogram our mindset.

I find that I gain inspiration from working on my vision board.

If you don’t have a vision board yet you have to create one today!

Like as soon as you’re done reading this article.

Your vision board should excite you!

So, when you’re feeling doubt beginning to creep in, just remember what’s in store for you.

That vision board is real, you just have to progress enough times to get there.

#7. Practice Positive Mindset

positive mindset

This one is extremely important.

You have to be kind to yourself.

Be proud of who you are, who you were, and who you will be.

We cannot feed self-doubt, otherwise it will take us down.

Harnessing a positive mindset has helped me overcome anxieties, fears, and judging myself.

We’re hard on ourselves, I get that 100%.

But Gary Vee says we should not judge ourselves and he’s right.

Work on and improve sure, but not judge.

Talk to yourself and acknowledge how far you’ve come.

Acknowledge how great you are and how much greater you will be.

At some point you’ll have to give yourself credit if you are to easily overcome thoughts of self-doubt.

#8. Letting Go Spiritually

Trust the process

This one is quite intense.

Letting go spiritually has changed my mindset.

Upon studying the wealthy and successful, I’ve realized they all have one thing in common.

And it’s their belief of letting go and not resisting.

Many discuss shifting your mind to have faith and simply trust in the process.

Self-doubt gets destroyed when you accept that the universe has your back, and everything will work in your favor.

Every setback is a test from the unknown, observing you.

Testing you.

You must prove how bad you want things in life before they come to fruition.

Want More Content Like This?

franknez.com

Consider subscribing to the blog for more articles like this one.

Be sure to check out the ‘Entrepreneurship‘ tab before you leave.

You can connect with me on social media below.

Twitter | Facebook | Instagram | LinkedIn | YouTube

You can view my latest stock 📊 and crypto 💰 purchases on Patreon


These Are The Best Strategies To Increase Your Sales

Best Strategies To Increase Your Sales
How To Increase Your Sales

Sales are a universal language in business. Every industry requires a sale to be made in order for the business to grow and become profitable. You will learn that these tips are applicable no matter what industry you are in.

Franknez.com

Welcome to Franknez.com – most of the excerpt will be based on taking the actions to bring in new clientele to your business. These are the best strategies to increase your sales.

#1. Cold Call Method

The cold call method is a great strategy to use when making contact with a prospect for the first time. Cold calls:

Use Cold Calls To Increase Your Sales
Sales Tips and Strategies For Small Business Owners
  • Demonstrate willingness to make contact at a more personal level
  • Presents your character (be charismatic, uplifting, energetic, thankful)
  • Allow you to get a feel of the prospects personality (tone, mood, interest, etc.)
  • Is the best way to sell yourself to a prospect through the use of attitude and dialogue
  • Perfect for extroverts (if you’re an introvert, step out of your comfort zone and use this method to gain new skills in sales)

The cold call method is a great way to introduce yourself to a company or prospect and sets the mood for potential business in the future.

Increase your sales by selling yourself and your service or product in order to make a lasting impression.

#2. Cold Email Method

Cold emails are a great method to follow up on prospects. They can also be a great means of making a quick and presentable first-time contact. You may alternate and follow up with a call based on the success rate of response. Cold emails:

Use Cold Emails To Increase Your Sales
Use cold emails to increase your sales
  • Are quick and efficient
  • Advantageous for skilled writers
  • Don’t take much time from a prospects busy schedule
  • Perfect for introverts

If you’re sending out a cold email to make first contact, be sure to follow up with a call when necessary. Some prospects appreciate cold emails due to having the convenience of reading and responding to them whenever it is most convenient to them.

If you’re sending out an email to follow up after a call, be sure to thank them for their time and be clear on your proposition(s).

The most effective way to increase your sales is to alternate between these two methods in terms of first contact and follow up.

Experience

Every lead and choice of execution will result in a variety of ways to present and close a sale. I have emailed prospects who immediately responded requesting pricing after making initial contact with a cold email.

I’ve cold called prospects who advised I made contact at the perfect time as they have actually been fed up with their current vendor.

There has been prospects who have been open to working immediately, some who would like to see samples first, and some who are willing to run test projects before committing to more business.

#3. Schedule Meetings

If you’re after a prospect who isn’t biting, who is giving you the runaround; try scheduling a meeting. Meetings are a great way to present or demonstrate your service or product to a prospect. You may also schedule a meeting with current clients in order to add flame to the relationship.

Sales Meeting

A meeting may take place in your prospects workspace environment or in your facility. Meetings are very personal, sell yourself, your product(s)/service(s), and your abilities that confirm why you’re the best choice for this prospect.

Establish an awesome relationship with your prospect(s). Impressing them will boost your probability of establishing a new client which in return will increase your sales.

Experience & Tips

Scheduling meetings with current clients is a fun way to increase your sales. This strategy will allow you to form a deeper connection with the company and with the client.

There has been a few instances where clients have actually wanted to meet up and see how product was produced at our facility. After one particular meeting, I followed up with the coordinator to advise they are more than welcome to stop by anytime and to bring the rest of the team next time around.

Months later I met another coordinator who wanted to meet in person and see how we conduct business. They were very impressed and super enthusiastic about continuing to doing business together.

This experience has served as a great means of connecting with our clientele which has strengthened the business relationship. At some point in your sales career you will need to meet with your prospects or clients in order to further establish your credibility and increase your sales.

#4. Become An Expert In Your Industry

In order to continuously increase your sales, you’ll need to become an expert in your industry. Yes, you can naturally be a great sales person and understand the importance of catering to a company and really know how to sell yourself.

Become an expert to increase your sales

However, when you become an expert in your industry, you have an insight and advantage far greater than any other sales rep in your circle.

This is one of those ‘extra credit’ strategies that will help take your skills, expertise, AND knowledge to another level in your career.

Understand your industry, and become an expert in your service(s) and product(s). Here are some advantages to being an expert in your industry:

The Ability To Serve Your Clients Quickly & Efficiently

Being an expert in your industry allows you to serve your clients quickly and efficiently. You are able to provide instant answers to your customers questions regarding your services or products in a confident manner.

The Ability To Effectively Solve Problems

Being an expert in your industry means you have the ability to effectively solve problems. Your advantage is that you have the answers to just about everything in your niche, which translates to finding better solutions when discrepancies arise in your workplace.

Your Reputation Exceeds You

Whenever people think of the services or products in your industry they think of you. When you’re an expert in your industry, your reputation exceeds you. People want to work with you.

All of a sudden you aren’t chasing prospects anymore, they’re chasing you. Becoming an expert in your industry is an absolute way to increase your sales.

#5. Feed The Sales Pipeline

Sales Funnel
Keep feeding the sales funnel

You should consistently be feeding your sales pipeline and lining up prospects to follow up with, meet, and close new deals with. I personally suggest creating a client database to reflect the status of your leads. This will help you keep track of who just spoke with, who needs more from you, and who’s in your pocket.

Feeding the sales pipeline will increase your sales due to the consistency of reaching out to new prospects. When work slows down in your industry, you’ll have this amazing client database you can tackle before things start to pick up again.

Tip: Never let your sales pipeline go empty as you’ll have no leads to follow up with once your industry slows down.

#6. Follow Up To Seal The Deal

Follow Up With Customers

Grant Cardone says the sale is in the follow up and it’s true. Increase your sales by continuously following up with your prospects and current clients. Here are some ways you can follow up with prospects:

  • Regarding initial contact
  • On provided quotes
  • Follow up on scheduled meetings
  • Or questions you might have

These points show prospects you have potential of earning their business and highlights your attentiveness to serve.

Here are some ways you can follow up with existing clients:

  • In regards to satisfactory upon purchase of product or services
  • Provided quotes OR re-orders
  • Referrals
  • New business
  • Status of processed orders

These points show willingness to help and demonstrate an effort to accomplish a set of goals. Being proactive with follow ups will increase your sales as you’re consistently on your clients or prospects radar. Remember to create a client database where you can keep track on your prospects.

Tip: Your follow ups should always be strategized so they do not become robotic to the receiver. Alternate between emails and phone calls for the best results.

#7. Think Of Your Customers Needs

Think of your customers needs in order to increase your sales

Understanding how to cater to your customers needs is a definitive way to increase your sales. Everyone you meet, encounter, or come into contact with will have similar needs. You will come to understand that everyone has unique needs. It’s when you learn to differentiate these two that you will gain an advantage over your competition.

Put yourself in your prospects or clients world for a second. What will make them buy from you? How can they think you to be the go-to-person? In order to understand how to cater to your customers needs, you must form a relationship with your current clients, or creatively asses your prospects wants.

Tip: Always think of your customers needs.

#8. Overcommit And Overdeliver To Increase Your Sales

Overcommitting is saying yes to a rush project. It’s saying yes to the tight deadline and the extra work it will require to make it happen.

Overcommit To Increase Sales

Overdelivering is not only accomplishing the goal but it’s having completed it while exceeding the customers expectations.

Increase your sales by demonstrating to your clients that you are trustworthy and a reliable partner with whom they can count on for ANYTHING.

When you overcommit it is up to you to do whatever it takes to see that promise through. When you overcommit you close the deal. Now make sure your delivery is phenomenal. Think long-term success when catering to your clients needs.

Read: Here Are My Top 10 Strategies I Use To Promote My Brand

Conclusion

Sales really are a universal language in business. Every industry requires a sale to be made in order to grow and become profitable. Use these strategies to help you further your career in sales and stay ahead of your competition.

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Leave me a comment below if you are already implementing any of these strategies in your industry or if there’s anything else you can input to the related topic!

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Should You Go To College? Is College Worth It?

Most of us grew up with the advise of going to college, getting a career, and retiring. We’re taught to play it safe in order to be successful in life. But do you really need to go to college to be successful? The short answer is no. College is not necessary for everyone. Keep reading to find out if college is the right game plan for you.

Where Do You See Yourself In 10 Years From Now?

Where do you envision yourself 10 years from now? Is your dream to become a surgeon or is it to run your very own business? Finding out what you want to do for a living is crucial. Have an idea of what fits your current lifestyle and where you see yourself years ahead before committing to this life changing move.

Who Should Go To College?

Put it this way. If you plan on working for someone for the rest of your life, college is your best bet. This is in no way criticizing the decision to work under someone. The world needs great doctors, amazing teachers, intellectual scientists, & creative engineers. Of course, not everyone working for someone requires a college degree (police officers, construction workers, etc.); however, a career with a degree will certainly yield higher income than a working career without a degree.

Understanding The Limitations

It is important to understand that no matter what degree you pursue, your income will be limited due to playing it safe. If the thought of benefits, 401k plan, and $80K a year is comforting, college could be a great way to work towards this lifestyle and goal.

Who Isn’t College For?

If you have entrepreneurship skills and have thought about starting your own business some day, college might not be the best route for you. You already have creative ideas on how to make money for yourself. Unlike other careers, there are no limits to how much money you can earn. The only thing getting in your way of reaching insane amounts of success is yourself.

A financially literate entrepreneur has also figured out going into debt for a business degree is just not worth it as his or her success is heavily based on experience and self taught skills oppose to a degree. For a true entrepreneur, self education has much more value than a college education.

We All Have Different Visions

Don’t let those who surround you influence your decision on whether to go to college or not. Take this move very serious as it can lead you into debt with no career or guarantee you work for the rest of your life doing something you don’t enjoy or love. Visualize the long-term goal and make the decision that best fits your needs.

Read: How To Start An Online Business In 2020!

How To Build a Clientele For Your New Business!

Your Clientele Is The Biggest Key To Your Business’s Success

Starting a business takes serious discipline. There are many factors that drive the companies success. You will discover that sales is what will keep you business thriving. Here are some amazing steps to building a clientele from scratch.

#1 – Set Your Target Market

Who will you sell to?

It is very important to identify who will be your target market. Are you selling directly to a middle man or are you selling directly to the consumer? Are you selling your services or products to corporations or directly to the consumer market? Learn to identify your target as this is the foundation to a successful clientele.

#2 – Make Contact

Make contact through the use of emails, phone, or social media

Now that you’ve established who your target market is, you’ll need to begin making contact. This may be through social media, direct emails, or cold calls. Reach out to the target and let them know what your business is about. Note: DO NOT get discouraged when someone says no. They’ve done you a favor by not wasting your time. Turn the page and move on. You will get no’s and maybe’s for an answer. Here’s what to do when someone is interested!

#3 – Make Them Aware of Your Problem Solving Skills

Stand out from your competition!

It is important not to drag the conversation solely about you or the business. Let them know just enough about who you are and what your business is about without it being all about you. The prospect should know how your services or products will benefit them! Ask them a little bit more about their business, make them feel comfortable and get them engaged.

How will your business be of convenience to them? Remember, convenience sells so if you offer more than one product or service, make sure you’re vocal about these ‘solutions’. Encourage them to see the value of your business by making them aware of your problem solving skills.

Get a feel of the conversation, did you sell it? Congratulations! If you didn’t, no worries. This takes time and take this as experience! If they ask you to follow up with them and provide them with more information this is perfect. Put them in your data base, lets get one step closer towards closing the sale.

#4 – Follow Up

80% of Prospects Say ‘No’ four times before they say yes
Keep following up!

The sale is in the follow up. It is vital that you are consistently following up with your prospects. Your first follow up should address the initial contact. Thank them for their time and remind them why your service/product is an amazing fit for them or their business. Don’t be discouraged if they do not respond immediately. Often times, it will take a few follow ups before the prospect requests a quote or buys from you. Change your strategy each time you follow up, make them remember you.

#5 – Keep Feeding The Pipeline

Feed the sales pipeline!

Continue to make contact with new consumers/businesses in your target market. It’s better to keep your pipeline full rather than realizing you have no business because you were so locked on a few prospects that seemed interested that now you have no one to follow up with. Avoid this mistake by consistently updating your client database and keeping track of who’s interested, who you’re in the talks with already, and who you’ve closed with. Continuously strive for making new clients, don’t settle.

#6 – Client Retention

Keep Your Partners Happy!

Client retention is the ability to retain clients over a period of time. In order to create a successful clientele you must be able to maintain your clients from using your competitors products or services. This is the part where actions speak louder than words. You managed to sell yourself and your business, now it’s time to prove why your business is the best of the best. Client retention is fundamental to a long-term partnership with your clients and customers.

Here are 7 amazing tips that are sure to keep your customers coming back.

  • Exceed their expectations by overdelivering.
  • Present a positive attitude at all times.
  • Show initiative to want to help.
  • Be a team player!
  • Appreciate them for their business.
  • Build a solid relationship.
  • Take care of their needs so they take care of yours.

Check out “How To Develop Winner Habits!” for some more amazing content!

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