Hi, my name is David and did you know that the most critical part of any business online to thrive is not your offer, brand, or market?
I know it sounds crazy because we’re so used to hearing about product and market match. While that is important, I will share three mistakes with you today that will revolutionise the way you look at how you run your business online.
So what is the most crucial part of your business online?
It’s the profit margin.
So the first mistake is, you stop advertising because it is too expensive.
The big idea here is advertising is the fastest way to reach your market to give you consistent income.
It is essential because if you have a great product, you need to have it out in the market fast before your competitors do. If you stop advertising, nobody will learn about your product. You’re toast as far as making your business online success. The business that can spend the most to acquire a customer — wins!
The second mistake is that believing the volume of sales will make up the profit you needed.
The main thing to understand here is that you will soon find that the more you sell, the more you will lose.
It means many businesses online cut their prices to win the customer thinking that they are making a profit without factoring in other hidden costs associated with running the business. The cost of running a business will always be on the rise.
The third mistake is to reduce the quality of the product to maintain or decrease business cost.
Your clients buy from you because of the value you can give them.
It is vital because you will not just get no new customers; you are also losing your loyal customers! It is one of the most deadly decisions any Entrepreneurs can make to reduce business cost.
Now, I know what you’re thinking.
It’s hard to avoid these mistakes because the competition is strong especially with mega-companies, and they are just too strong.
Well, the trick is that most mega-companies are strong, but they are also slow. The competition today is not about how big your company is, but how fast is your company. These mega-companies will also fall into the same trap as you when competition sets in!
And so I’ve crafted a B.O.S.S Blueprint you can use as a template to see which area of your business needed adjustment to increase profit margin.
As co-founder of ReadySpace, a cloud service provider who has created and help multiple million-dollar businesses sell products and services online for over 15 years, I find the patterns of what successful companies do to get to where they are today. I also gathered all the failures and found the solutions to them. Then I pull in those patterns and answers, tear them apart to see what works, and then combine them and create a more straightforward blueprint for you. No experience required to understand it.
So what I’ve done is I’ve created this fantastic blueprint so you can look at it anytime when you are facing a roadblock when running your business online. It will help you avoid many mistakes that you could have made.
If you click the link, you can sign up for Business Online Scaling Strategies – In short – (B.O.S.S) today.
I’m David, and I look forward to connecting with you soon.
Have a great day.