Five Foundations of Online Business

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Every type of business requires the same five foundations when it comes to becoming a successful presence online. How many foundations have you built?

More importantly – how many are you neglecting?

You Need the Right High Quality Content

1. Website and Blog. The absolute basics. There’s been tons of content written about how to setup a blog and website. I’m not going to waste my time with it. Just invest in quality content and design from the very beginning. It matters way more than you think. Consider it building the storefront of your online business. It’s worth spending money on.

2. Strong Social Media Presence. Still pretty basic stuff. Have profiles on the big networks and expand into smaller networks that are relevant to your industry. Make the most of your social media profiles by posting content and links that will be interesting to your audience.

3. Quality Content Marketing Strategies. Now we’re getting a little more advanced. Look beyond the occasional blog post and status update. It’s time to start looking at quality content marketing strategies. Think of a content marketing strategy as educating your target market enough for them to do business with you. It can be rather complicated to be effective, so I outsource all my content writing to another company. I go through Content Kung Fu when I need to buy content. They’ve helped me grow many businesses and they’re one of the only companies I’ll actually recommend.

4. Relationships with the right people. Relationships are important for the success of every type of business. This is no different with online businesses. While you may still meet people in real life, you’ll be cultivating most of your relationships online. This includes social networks, blog post comments,  messages, emails, chats, Skype calls and so much more. Learn which people are worth your time and which aren’t. Don’t be a suck up. Pursue a meaningful relationship.

5. A monetization strategy. Entirely too many people (myself in the past included) spend all this time and effort building an online presence without a clear plan to make money with it. Don’t fall into that trap. Before you even make your website have a clear plan for making money, have a plan. How will your new idea earn an income? You don’t have to think huge, just think income. Any amount is a good amount. Any amount can be scaled to a bigger amount (usually).

You must continually invest time into cultivating each of these areas. Unlike the ‘set it and forget it’ types of foundations buildings enjoy, these foundations must always be created.

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