5 Steps to Launching A Successful Online Startup

One of the questions I get asked the most from aspiring entrepreneurs is, "How do you start a wildly profitable business." Or, "Where do I start?" So I decided to break it down here in no particular order:

Step #1: Create a product or service that solves a problem

As long as consumers have problems, they will always search for solutions. People will always look for better, faster, and smarter ways to accomplish everyday tasks. And fortunately for entrepreneurs, there are still lots of rooms for improvements in existing products. That said, the biggest issue for most founders is finding these painful problems and matching them with the best solutions possible.

To solve a problem, you don't need to reinvent the wheel... Maybe you improve or solve the pain point in a different way.

Need help with a business idea? Check out Answer the Public. 

Step #2: Build an audience before you launch

Building an audience BEFORE you launch might sound crazy, but it is something that I've done for all of my companies.

There's this misconception that people think that if you can launch a digital product or service– then you're automatically going to have success and customers knocking on the door.

You know the saying from Field of Dreams, "If you build it, they will come." Well, simply put, that is FAR from the truth. 

Here is the truth, most people launch to crickets and then find themselves frustrated that sales are not coming in the door.

Here are some ways to build an audience before launching your business:

• Find Your Target Audience
• Go live on Facebook, Instagram, or Youtube on a daily or weekly basis to provide value, tips, and insight in your field.
• Get active on social media.
• Find a business you can collaborate with and share value with their audience.
• Early-Bird Giveaways
• Give a Lead Magnet A.K.A "FREEBIE" away

Step #3: Start collecting emails ASAP

I never thought much about the importance of building an email list until the time came when I wanted to launch my first business.

I posted about my new business on Twitter, Facebook, Pinterest, and Instagram. I told friends, family, and even former colleagues. I thought I'd wake up to dollar signs and commas. Instead, I heard Crickets noises.

So you can start building your email list by taking action from step #2 "Build an audience before you launch."

Email marketing is, by far, the most prominent converting form of marketing there is currently. If you don't take this portion seriously in your business or future online business, you might find it challenging to stay connected and build a relationship with your tribe.

Here are some ways you can start building your email list today:

Create a simple landing page and share about your opt-in (e.g., this could be a free guide, eBook, discount, checklist, challenge, etc.). 

I use Kajabi for my landing pages and pretty much my entire business. Click here to get a 28-day trial and see how this all-in-one platform can help you get an unfair advantage starting your online business selling digital products. 

Pro tip: Before you start building your email list, make a game plan! Identify how many times you would like to connect with your audience, what benefits can you provide your tribe, and how can you use this form of communication to share about your products? 

Remember, email list building is a relationship, not just a transaction. You want to give value to your audience as your tribe will provide to you by engaging, purchasing, and being a loyal member of your tribe. 

Step #4:  Collaborate with others

Collaborating can help you build your ideal audience and email list faster than you think.

Make a list of 100 power people who have similar audiences you can contact about your idea. Share how you can be of value to their audience and their business. 

Here are some of the ways you can collaborate: 

• Participate in-person or virtual summits 
• Co-Host an event 
• Connect with local networks related to your industry
• Guest post or find businesses that have a podcast or youtube channel you can be featured on
• Co-Create a product/service
• Give a piece of content away to a membership or course platform with your ideal audience as a bonus to one of your power players. EX: Guest experts who collaborate in my Corporate Misit Club give valuable content to my membership, as well as they, have the opportunity to share their products and services during their featured bundle month. 

Find power people who have super-engaged audiences and are in alignment with your business idea.

These are the people who add value and social proof to your idea. You can start by sending a DM via social media asking for their email, finding their email on their website, etc. and see if they would be interested in learning more.

I know to put yourself out there can be scary, but if you don't ask the question, there is no way you can know if somebody might say yes.

Pro tip: Some collaborators/partners might ask for revenue sharing, email list sharing, affiliate commission, etc. think about how you would like to go about this process before reaching out to your power players. 

Step # 5: Just start! Launch small, then focus on scaling

Many start-ups believe in "go big or go home." This is one of the worst things you can do in a start-up. Why tie up capital in expenses or inventory?

Rather than going big, focus on starting as small as possible. Ask yourself, what's the first possible point at which you can release your product to the market? In the start-up world, this is known as the MVP your 'minimum viable product,' and in the course creator world, it's known as an MVC your 'minimum viable course'.

When I started my first digital product, The Corporate Misfit Club, I launched the membership with just ONE video training that took 45 minutes to create.

Rather than spending thousands on expensive video equipment or building out an intensive online course, I kept things simple. 

I learned from my mentor John C. Maxwell the importance of selling the vision first. So I hosted a series of live webinars and sold "why, what, and who" of the future community. 

By creating an "MVC", this allowed me to do a proof of concept of my idea and lock in 180 new members in one week. 

From there, I spent my efforts collaborating with guest experts, and having women entrepreneurs teach business bundles for my audience every month. 

So are you ready to build a wildly successful online business? It's your time to step into your power and make an impact. 

The first thing to do is to START. 

If you're still looking for the right platform to start your online business, check out Kajabi. I've used this platform for years to grow my business, as well as I've helped my clients do the same. Check out an extended 28-day trial by clicking here.

Leave a comment below and let me know the steps you're taking to help you start and launch your online business.