Going back to 1995 I have always had an online business. I was one of the first companies, in my industry, to have Online Ordering.
Building relationships with companies like Google before they were a player in the search engine universe.
I was selling $250,000 worth of products from a spare bedroom of my home.
I expanded, had employees, office space and grew thanks in large part to the internet and my ability to get my pages and site ranked.
Building my business the exact opposite way the Industry Leaders would have you believe.
While most “Brick and Mortar” companies were looking to offer an “Online Component”, I had an established “Click and Order” business the had a “Brick and Mortar” component.
My business was built with an exit strategy in mind. I built a business that could last but was nimble enough to change if things changed.
For almost 2 decades I was able to live debt free. Imagine never having a financial worry. Being able to buy whatever you needed.
I looked at my business as a way to generate money to cover my bills. Nothing made me happier than spending money on my family and friends.
But before you think that I am some kind of spend crazy business owner I had to apply Monetary Disciplines before I spent one single cent.
In order to be a successful business owner, you need to have a “Monetary Policy” in place.
Here is a quick list of my Monetary Policies that helped me live La Dolce Vita, The Sweet Life.
Rule #1: Buy in minimum quantities of 3
From software to office equipment buying in quantities of 3 or more gives you the best value.
When I purchased accounting software I purchased 3 Individual Licenses. One license I used the other 2 I sold. The profit I made on the sale of the other 2 easily covered my cost.
Rule #2: New is Used To Me
When products that I shipped became to much for me to pack and carry to UPS in my car, I decided to get a Truck or Van. I purchased a 12-year-old Dodge Dakota Truck. I only used it to transport products to the UPS Depot location 7 miles away.
I shipped products on Tuesdays and Thursdays only. I put less than 800 miles a year on my truck. My friends would kid me about the big dent in the rear quarter panel or the mismatched door colors. It didn’t bother me since I purchased the truck for a singular job.
When I decided to get a new car I got an 8-year-old car that had all the bell and whistles I wanted. Even though it was an Old Car it was New to Me.
Rule #3: Create A Dedicated Business Space
You need to create a dedicated Work Space with its own set of rules. Make sure your space has a door that can be shut and locked if necessary.
If you decide to convert a Bedroom into an Office get rid of all the Bedroom Furniture and all the clothes in the closets.
Order a desk from Staples or make your own. Get some file cabinets and an actual “Office Chair”. Staples constantly run sales on the office furniture basics. I got my first File Cabinet and Office chair for under $50.
Creating a dedicated space with separate rules will take a lot of confusion out of the mix when you are conducting business.
Who doesn’t remember the video
Don’t sacrifice your credibility for the lack of a lock.
Rule #4: It’s all about the Packaging
When shipping products you need to find the most economical way to get your product into your customers’ hands ASAP.
For items shipped over the Western side of the Mississippi River, I use the US Postal Service. Most clients get my product in 2-3 Business Days including Free Saturday Delivery. The cost is comparable to UPS but shipping US Postal Service cuts 3-4 days off delivery times.
Rule #5: Paid Traffic Generates Sales
Organic Free Traffic is good but Paid Traffic is always better. Organic Traffic is hit or miss while Paid Traffic can be targeted to your audience.
Be sure that your Paid Traffic Offer is ready to go before you start paying to drive traffic in that direction.
Most people just drive traffic to a site or a page. If you are paying to drive traffic to your site then you are wasting money. If you drive traffic to a specific offer then your chances of generating revenue are much higher.
Before you pay for traffic take time to create an offer that converts visitors to sales.
Rule #6: Copywriting is Money in The Bank
Copywriting is the key to an offer page that converts. Every dollar spent on Copywriting Training is money in the bank.
Follow these 6 Simple Rules and you will be well on your way to running a thriving Online Business.
Failure to plan for success will only guarantee failure.