Finding your next business idea when stepping into a new venture
To start a new business, being it your first one or next, you need to go through some steps. It all starts from Ideation and Evaluation of Your Business. Then you need to find and Verify ‘Your Niche’ and find the Target Audience and Real Customers. You need to then evaluate their Willingness To Pay and Sketch the needed Processes and Resources to arrive where you should be to be able to serve them. Looking for investments or other partnerships, you need to create your Elevator Pitch.
Designing your next Business Model and its components
Shaping your business idea into a business model with all its elements defined and thought through is a structured process. How will you Produce your Product or Deliver your Service? How will you acquire the needed Resources (People, Money, Tools, Systems, Channels, etc.)? What are your needed Investments and Monthly Costs? Which Channels are you going to use to sell your products? What will create the needed Income? How are you going to provide the Services to your customers? How are going to Enhance your value proposition? Yes. Even at this stage you need to think about this!
Building the components of your business enabling your continued success
How do you choose the right Resources, Processes, Systems, and Tools for your business and ensure its actual establishment? How do you decide which Equipment, Software or other necessary components to buy? How do you ensure you hire the right employees? Will you buy everything or probably rent/ lease/ subcontract some? How do you decide how, and which service is better for your need?
How are you going to Finance your business? Do you do bootstrapping? Have you thought of other ways? e.g. Crowdfunding, Partnerships, Loans. Do you know how you will take Strategic, Tactical or day to day management choices (organization, processes, people)? How will you move from the creation phase to a continuously running business?
Design and implementation of your Growth Strategies
How do you shape your Growth strategies mow that you have established a business! How do you start selling and selling more? What are your growth strategies? Which geographies, segments, products and services you start from? How will you know you are progressing in your business growth?How do you organize you Marketing machine? How do you do your Digital Presence Management (Social Media, Web, App)? Have you been Crafting your Social Media plan, Digital Strategy and Roadmap?
Designing Automation of Tasks and Processes to free up time for you to focus on the Core
How do you decide which parts of your business to automate? How do you then automate such parts of your business? What are the best solutions fit for your purpose and budget available in the market?
How do you enhance your Organizational and Personal Productivity through automation? How does automating your processes using what the technology has to offer, help you gain efficiency and reduce cost? How do you identify the best productivity tools enhancing what you achieve with the same resources?
How do you create a Richer Customer Experience resulting in higher willingness-to-pay and satisfaction? How do you identify the best customer engagement tools enhancing income through more and returning customers?
Do you have a vision for your Digital Transformation?
You find answers to these questions on this page.
Using the methodologies provided in the fifth module of my “8A Accelerated Business System”, you can define a roadmap for Automating your Business in four steps to gain efficiency and to enhance customer value proposition. The ultimate aim of such automations like any other business decision is to increase your sales and bottom line.
Augment Your Business
Identifying & Shaping opportunities enhancing your Business by creating new revenue steams
Enhancing your Business via robust strategies may include:
The very first component of any online business is a website. Websites are the digital addresses of today’s businesses. It is unbelievable how many businesses do not have a website or a proper web address. Websites are the very first things which give both access as well as visibility to your business.
With the younger generation becoming adults, their expectation of accessing your business via a search engine like Google is like the expectation of older generations on having your name on the yellow pages of your city or by the call center of your national telecom provider. You simply cannot remain offline anymore.
Presence on social media was originally attractive only for teenagers. Later it became something for adults and then for small shops and businesses followed by the corporate world. Today, you see even a construction company having their customer only among governments, local authorities, and corporations being active on social media. Why do they choose to do so when they know they do not have any product or service to sell to regular consumers?
You can learn to build an online web-shop in a matter of few hours. In my book, “Build An Online Business in 24 Hours”, I look into two types of web-shops. First, a pure and straightforward web-shop being built in a matter of few minutes intended to just sell certain products or services. Second, a more advanced web-shop built as part of your website enhancing its functionalities to be able to run a full-fledged web-shop with all the needed complications you may want such as product categories, services, virtual products such a downloadable content or access to some content through subscriptions, or assistance, advise and coaching or similar type of services in beauty, health, law, business, or anything else you can imagine.
To make sure you get paid online when people purchase your products or services, you need what is called a Payment Gateway, which is provided by Merchant Account providers or other institutions. In my book, “Build An Online Business in 24 Hours”, I look into some of the most common and globally used payment gateways you can set up for your business in matter of minutes.
Conversion Funnel is a term used in eCommerce which describes the consumer’s journey from the moment of the first interaction with an online marketing platform or other e-commerce solutions onwards. In my book, “Build An Online Business in 24 Hours”, I describe this in very simple words and introduce one of the easiest ways to setup conversion funnels and marketing automation for your business resulting in increased sales and profits.
When you enter into the Enterprise world with large size and often multinational companies, you see other names for applications used for the same purpose as in smaller companies. All the solutions you have seen so far are also possible to be used at Enterprise level. But the volume of business, need for lightning speed response times, complexities of multinational operations, security demands, compliance, and many other factors encourage the Corporate world to use another set of applications to achieve the same objective. To learn more about enterprise grade solutions, visit the respective section in the companion course of my book.
Creating an online business is more than a website, social media presence and web-shops. The technology supporting and enabling online businesses is growing at a very high speed.
There are thousands of tools which can enable you and you online business. Here you can find some of what I myself use in creating my online presence.
But why software as a service can be a passive stream of income for you or your future online business?
Want To Get Your Journey Started With Me?
Do you want to Generate New Business Ideas. Evaluate, Prioritize and Choose. Mature it into a Concrete Business Plan. Establish, Grow, Advance, Enhance and Expand Your Business to Increase Your Revenue, Profits, and Your Impact. And Do All That, next to what you already do for living.
Do not procrastinate. Take action now by getting hands on my book and the free companion course which will help you ideate, create, and operate your online business, step by step.
© 2022 - Shahram G. Maralani