How “Online Business Mentors” Can Help Build Your Online Business

Have you been looking at different online business mentors to help you build your Internet Business? Online business mentors are suggested as becoming a more critical element when attempting to create online success. Many entrepreneurs will join an entrepreneur with the misconception that they do not need someone to personally train them in order to help them reach their goals. If you are experienced in building an online business then you probably will not need that in-depth personalized training, however if you are new to the Internet Business industry then finding the right mentor can help your business out immensely.

Online Business opportunities are becoming more recognized as a legitimate way to earn money. The biggest confusion for many is, that they can learn how to build their business themselves. While you can educate yourself on how to build an Internet Business, a professional business coach is suggested to cut the time in half.

You understand the importance of finding the right trainer and coach. While some mentors and trainers focus on life skills, mindset, and support you are going to need a mentor that focus on business, sales, and marketing strategies. Being clear of what an online business mentors responsibility is in helping you with your Internet Business, will assist you in finding one that is best suited for you.

Online Business Mentors – What You Should Look For

  • Website Design – Websites are a very important element of building your Internet Business. This is where your customer will have their first impression of you. For many acquiring HTML skills at the beginning of there online career is not expected. This is for advanced users, and beginners are not expected to have these characteristics. Finding a mentor that will give you a website is important to your overall success.
  • Marketing Strategies – You can pay for marketing, or you can generate your own marketing for free. For many starting off funds are limited, so free marketing strategies are preferable. Finding a business coach that has free marketing training will help you grow your business while keeping your cost low.
  • One On One Mentoring – Group trainings are great. But it is suggested the overall success ratio increases with individualized training and mentoring. Find a mentor that has one on one coaching, and not just the large group trainings. It will be more personalized to you and your business goals.
  • Sales Techniques – Not everyone can have sales skills when starting a business. Find a mentor that has a plan on how to compensate until you learn how to close your sales
  • Follow Up System – Having a professional follow up system is suggested to have a major impact on your overall success ratios. Find a mentor that has a professional system already in place as it can take a lot of time out of your business to create one.
  • Customer Service – How are you going to handle your customer base once you have them? At the beginning, you are probably not qualified to offer the customer service that they need. Ask your trainer if they have a system in place for you customers, at least until you are ready to handle them.

While there are many mentoring teams and support teams that suggest they are qualified to train you, you need to make sure they have the full qualifications of the six steps above. While many mentors and trainers are charging a setup fee, and then monthly fee, the good news is if you find qualified coach when you start your business, you can obtain this service for free. The key is to receive the coaching and mentoring for free, is by researching the online business mentors before you actually start your Internet Business.

What Is Your Home Business Target Market?

Running a home business is difficult because of the multiple duties you take on. You are responsible for the content produced, generating traffic through intriguing marketing and advertising, and dealing with all of the customers. However, determining your home business target market is just as every other aspect.

It is simply impossible to appeal to every person in the world, which is why it is so vital to determine your online business target market. By finding the target market for your business, you can get a better understanding of how to arrange your website. You can still have your own style of writing and creativity, but now you can base it off a certain group of people.

Your home business target market is the ideal prospect to purchase your products, which is why it is ever so important you take the time to adjust your website to meet their needs. Take the time to research what people are looking for across the web. Once you identify what’s popular and what’s not, you can then include various things associated with your website to help reel in your target market.

There are several programs online that can assist you in identifying the keywords that your home business target market is searching for. Some will cost you money to view while others are free of cost. Pixelfast and Wordtracker are a couple of programs that allow you to find the most popular keywords searched for free.

Once you know the keywords that are being searched, you can adjust the way you write your content to make it more appealing. By highlighting the various keywords and making them stand out within your content, a couple of things will come from this. First, it will make it much easier for your reader’s to find what they are looking for on your site. Second, your keyword optimization efforts will help you climb higher on the natural listings of the search engines, thus increasing your traffic.

As you may already know, the internet is expanding and changing by the day. To stay with your competition and continuously offer your online business target market what they are looking for, you have to adapt to the way the internet is changing. This means posting fresh and enticing content on a daily basis and offering insight to what is going on with the internet.

Knowing your online business target market will help you connect with your readers and offer enticing content. If you are out of touch with your readers, all you are doing is taking up space on the web. You have the power to put whatever you want on your website, but your home business target market has the power to accept or reject your website. Take the time to get to know your target market and I guarantee you it will be well worth the time.

7 Vital Business Building Tips to Create Profitable Businesses

7 vital business building tips that are vital for building a business that is:

  • Sustainable.
  • Profitable.
  • Will eventually work without the business owner being there.

These are very much interrelated and therefore have no natural order but all are essential for success.

Business Tip 1 – The business must focus at least 50% of resources on Sales and Marketing.

All too often a business is set up by great technicians who have decided to set up their own business. They often think that if a business is set up with the best equipment and has the highest level of skills etc. it will sell itself. This is rarely true.

What is true is that an average or sometimes even a poor product will sell with great marketing. The reverse is rarely true. The world is full of products that have been technically brilliant, better than the competition and they simply didn’t sell enough to survive. For example we had the Betamax versus VHS back in the old days where Betamax was regarded as superior; Microsoft Windows versus IBM’s PS/2 we all know who won that one.

So if you are starting out in business and/or times are troubled for you, and that applies to many businesses, revisit your marketing plans and see how much time, money and effort you are putting in for sales and marketing versus product/service creation and delivery.

My advice is to spend half of your resource marketing and selling services or products to the markets. Then spend the other half producing and/ or delivering the product or service to customers. There is always a few % to go on admin and accounting but the focus needs to be ‘up front’ when times are hard or you are starting out.

Business Tip 2 – Set up at least 10 solid strategies for Marketing

Reduce your risks and setup up 10 great marketing streams for getting business. Many businesses get one or 2 good marketing streams and stop there. Don’t stop, develop more, you never know when stream will die on you. It is surprising how many businesses are wasting money on marketing that doesn’t work and they don’t know it because they do not measure what is going on.

Similarly make sure no more than 10% of your business comes from 1 company. The world is full of businesses who lost their key contract which accounted for 50% or more of the business and struggled to recover.

To do all of this you must be able to track how and where your business comes from. This leads us nicely to my next business building tip.

Business Tip 3 – Measure Test and Measure

I abbreviate this as M-T-M. You need to have key performance indicators (KPIs) at every stage of the business. I have already mentioned 2 of these above:

  • Understanding what marketing works and what doesn’t. Where it comes from and how.
  • Understanding what percentage of your business in units and money comes from what customers.

A few more essential KPIs are:

  • Nett and gross Profit
  • Total income
  • Profit margins
  • Cost of sale
  • Cost of production or service
  • Cash flow
  • Real measures of product or service quality. These are often hard to define but they can be done.
  • Real measures of customer satisfaction. These are often hard to define but they can be done.

Again I am staggered how many business owners and managers do not have these figures to hand on a monthly basis. Many leave them to the year end accountant to do which is usually about 18 months too late! If this is the case with you, then every decision you make is probably a guess!

Business Tip 4 – Systemise

By systemise I mean create systems and procedures to automate and standardise processes. There some great golden rules within this business building tip:

  • Standardise the routine to create good service and utilise the spare capacity you free up to create exceptional service.
  • Systemisation means procedures, computerisation and automation not just computers.
  • Procedures means the written word but preferable to this are: pictures, diagrams, audio, and video.
  • If you use computers for systemisation do not try to systemise a mess. Sort out the mess first. If not you are likely to just make a bigger mess quicker.
  • If you use computers for systemisation apply the rule: data goes in once and is used many times. Avoid having a string of spreadsheets where you keep re-keying the same data in over and over again. This is poor systemisation and leads to lots of errors.
  • Good systems make KPIs and measure test and measurement easier. Look for the opportunities to extract useful KPIs easily.
  • Systemise before recruiting then the team will have a system to follow. Do it the other way round and the business owner and managers will burn energy chasing the teams because the teams simply do not know what is going on or how to do it.

Business Tip 5 – Use your customers wisely, don’t waste them.

  • Customers are gold use them to build a strong referral marketing stream.
  • Keep in contact with your customers, this can be by newsletters, new special offers, new product launches and you portfolio of products on offer.
  • Treat customers better than new leads and when they return to buy more treat them exceptionally well.
  • Build trust with customers on a continuous basis, never do anything to harm that trust.

Business Tip 6 – Build great motivated teams

* Systemise before you let the large teams loose in your business. If you don’t they will burn you out.

  • Look at teams in a wider sense. Teams are another key ingredient of growing a business. However I recommend that you look at teams in a wider sense than just those people you employ directly. For instance your accountant and a key supplier can form a team alongside your business. Partnerships with other business can build very powerful teams. If fact these type of teams can often be more motivated than those you recruit to work for you.
  • Recruit on basic skills then attitude. If you do recruit your own employees take the time to recruit properly and look for motivated people with the right attitude. It is easier to teach skills than change attitude.
  • Train you team well.

Well motivated, well trained and well lead teams can be 100 times more productive than the worst. Look at a league of football teams and see the difference in performance and earnings.

Business Tip 7 – Work on yourself as the leader.

  • Learn to be a great leader.
  • Do not let yourself become the barrier to your business growing. Too often it is the leader that has become the weakest link in the business. Like a chain a business is only as strong as the weakest link. Others have caught up with the leader. The leader is pushing employees down preventing their growth and their development which ultimately stops growth in the business.

James E Rohn said “Never wish your life were easier … Wish that YOU were better… Work harder on yourself than you do on job …”

So to summarise these 7 business tips:

  • You must focus equal resources to marketing and selling a product or service as to making it and delivering it to the customer.
  • Build 10 solid marketing streams to reduce your business risks to changing markets and patterns. Do the same with customer streams.
  • Measure test and measure as much as you can.
  • Systemise the business before you build a team . Systemise the routing and identify the exceptions to offer exceptional service.
  • Use your customers wisely.
  • Build great teams with the right attitude, training and motivation.
  • Work on yourself harder than you do on you r business! Be a great leader.

Why not write the above summary of business tips down and work on 1 or 2 aspects over the next 90 days. Scientists have shown that it takes 25-30 days to change a belief or habit.