Ever since I first turned a small investment into more than $1 million by trading, I have been working non-stop to create a career for myself. Starting a business and focusing on teaching and mentoring young traders was one of the best things I've ever done to grow my brand and to establish my name in the business. There are so many people who come to me today for advice about starting an online business and want insight on what they should do or how they should get started. Above all things, people tend to ask me what I would do if I was starting an online business in today's market. For the many who have asked for my insight on the matter, here are some of the things I would do now if I were to start an online business today.
I Would Show My Expertise on EVERY Social Network
If you are going to start a business in today's market, one of the first stops you should make when promoting this business is social media. Make sure that you create a strong presence on every social media site and that you use these social media networks to your advantage. They are not just there for you to post pictures and witty status updates on, these social media sites are a great way for you to reach out to prove to the others that you are an expert in your niche, there is no better place to prove just how much you know and just how established that you are. Don't just use the every-day social networks either, expand to include some of the newer sites as well such as Periscope or Snapchat. Don't be afraid to seek out help to become the best you can on social media. I've used sites like WolfMillionaire.com to help me grow my Instagram following to over 600,000 followers.
When you get on these sits, make sure that you are creating different content for every platform and really catering your content to fit each different social network. For example, develop longer videos for YouTube, take pictures for Instagram, use witty observances and motivational quotes for Twitter, short videos for SnapChat or Vine and longer, more informative posts for Facebook. The more diverse you can be with your content the better.
I Would Start With All Free Content
There are so many new business owners that start an online company because they know they are established and successful and they want to show others just how much of an expert that they really are. This causes many people to want to charge for the content that they deliver to the public. Don't do this. When you are just starting out, you need to make sure that you are giving visitors plenty of free information. They won't want to pay for your insight unless they really, truly know and believe you are an expert and that your insight is worth the money. Start with entirely free content, then feel out what your followers have questions about, this is one of the best ways to show as many people as possible that you truly are an expert in your field. It is not that your content and your expertise isn't worth anything, it is just that you need to offer it for free to develop your base.
I Would Take the Time to Develop a Product or Service
Develop a product or service based on what your followers want. Offer this with a one-time payment or a subscription based around the problems that you see others having and provide insight on how you can help fix with advice, a service or a new type of technology. One of the best ways to get a gauge of what people want and what problems your target market is having is to pay attention to what is going on in the market. Look at social media followers and friends in your industry, see what they are saying and doing.
You need to be able to offer something that truly fills a hole in the market and provides people with what they want. From there, adapt future products based on your initial success. Once you have that product, highlight testimonials on all of those social media platforms that you have, this is a way to tie all of your efforts together. You will use the strong following you have on social media, to add to the free content you are delivering as a way to promote your main product or service.