Every Entrepreneur dreams to have his or her own scalable business. Isn’t it? Like this blog if you think you have. Because I have. I believe every individual working in a traditional 9-5 job wishes to be an Entrepreneur someday and every Entrepreneur wishes to have his online business that can take care of him. Do you know why? Because at the end of the day, we all want freedom and we all want bigger things in life. Building an online business so massive enough that it can take care of everything, will get you freedom!
Well, starting your own revolutionary business could be anything – starting and maintaining a YouTube channel, providing online services to clients, writing books, day trading, pretty much anything and everything. There a thousand ways to win the game when it comes to starting a business. But, whichever idea you choose to build your business around, make sure that it is scalable for the future growth.
So, let’s dive right into the pool of business!
There are broadly two ways to launch your own scalable business. A – To become an expert of a skill, build a community around it, sell your expertise to the community members and you scale. One of the best examples is a YouTuber who starts a channel on YouTube, builds his community around it, sells his expertise in the form of online course or Books and just scales his business further by scaling his YouTube channel. B – You create or design a platform allowing others (subscribers or prospects or buyers) to make money on your platform, and that’s how you just scale in your business with time. The latter type of business model usually targets billions of people worldwide, thus ends up generating millions of dollars for your business.
Let’s dig deeper now! Podcast – simple and damn scalable. If you wish to target your audience with a webinar or from a course, you’ll be achieve that easily. Just think about it – every human on the planet can listen to your podcast and that’s huge. Why so? Because a Podcast is infinitely scalable since it engages billions of people at once. While, promoting and selling your courses 1-on-1 with each customer isn’t scalable. So, if you do a one-to-many broadcast (Podcast/Self-Published Book/Webinars) and share great quality content, then I can guarantee you can start a scalable online business for the next decades.
No matter what your expertise is and no matter what niche you choose to build your business around. In the end, your product should be infinitely scalable enough to make loads of money even when you sleep.
Key Essentials to Scale a Business in any Niche
In order to scale your online business, first make sure there’s absolutely no limit to the scalability of your business. Then, you should focus on the essentials for ensure that your business grows and scales to new levels in future. Therefore, the key essentials to scale a business in 2019, are:
1. Scalable Business
A scalable business model is really important for every Entrepreneur today, as only the business idea or a business model that is scalable can make you not just rich, but wealthy with time.
If you have a great skill and selling that skill to others in the form of a course, and you also have a good return from that investment, but if you don’t have a scalable business, then nothing will be able to work for you for the long run.
Personally, I’d recommend to have numerous products (digital products) in order to scale your business. I’ve sold over 10 digital products online so far (which I’ll cover in the upcoming blog). So, creating digital products and building a chain of products inclined with your business niche and expertise, equals great returns since products are infinitely scalable.
2. Great Income Skill
Majorly all of the world’s richest people have one thing in common – a great income skill. It could be their original expertise or maybe something that they’d learnt and mastered over the years. Having an income skill or an expertise brings in a lot of income, since this “great skill” eventually becomes their professional and their area of expertise and their identity in the real world.
3. High Return Investment
With great income skill/expertise, comes the high return investments. Let’s break it down with an example. If you’re a marketer and you know the basic fundamentals of how the market works. So, you write a book and run a couple of marketing campaigns to advertise and sell your book to your customers online. Thus, your book becomes your “High Return Investment“, as writing and publishing a book on one of your skills on a platform like Amazon, is a sure shot at the huge returns for life!
Since, technology landscape and marketing tools and their features are changing rapidly, it is crucial to keep yourself updated and familiar with the marketing models and online marketing strategies and hacks. We all understand online marketing or digital marketing or internet marketing. But it’s actually a huge investment to start your online business. The man is successful in this digital age, who takes full advantage of the internet and makes the best use of all the resources available to him.
In the end, we wish to increase the revenues of our business significantly higher than the investments we put in while starting it. This is the reason why we want to scale our businesses for the future and this is the very definition of a Scalable Business. As long as you have a good solid foundation, great business solution, and expanding + planning strategies, then you’re good to go. Then, you’re good to build and launch your own scalable business!
I hope you’ll find this blog helpful if you’re interested in learning about online business in general and ways to scale your business. Do share this blog with your friends or family, who you think are planning to start their business in the near future and you think this article will be really helpful to them. If you haven’t already subscribed to the blog yet, I’d request you to do so, as we publish great content on SAP, Online Marketing and Business, twice a week! So, make sure you never miss an update from us.
Finally, CONNECT WITH ME ON FACEBOOK HERE. I’d love to hear about your experiences and challenges you faced to grow your business or if you want to start a scalable and a profitable online business. I’d also love to help you in your Entrepreneurial journey so that you achieve success and get a crazy business launch.