Instagram Beat Online Business

Grow Your Online Business with Power of INSTAGRAM

Before I get started, I do want to give you a heads up. I'm going to go deep into online marketing and business today, but this is kind of a continual learning thing, so make sure you hit the Subscribe button and the bell so that you don't miss any of my future training on Instagram marketing and growing your online business.

I need you to answer these very important questions.

• Are there people who are already paying for your services or product?
• And, is there competition already in your market?

If you are a 'yes' to all of these things, great.

This blog post is for you. If you're a no then I have a few other resources for you that you'll want to check out.

Now let's dive into the growing your online business fast. The first growing your online business fast is Messaging.

I see a lot of people getting caught up in, well, first trying not to niche down too much because they want to serve everyone, but the second thing is they want to be really creative and clever about their messaging.

The thing is, when you have half a second to make an impression, you lose people really fast if it's not clear who you help and how. So the very first thing you need to do to grow your business faster is nail that messaging down. You can do this by really explaining the problem that you help your people solve. Go into the benefits of what happens when they solve that problem.

• With your Instagram posts, are you hiding behind generic messaging?
• Are you avoiding showing up as a real person?

Before people took the visibility challenge and then once they showed up, got leads. I'm not too surprised about that because people want to do business with people. So I encourage you to not hide behind generic posts in your Instagram feed.

I want you to get real. I want you to get specific and I want you to speak to that one target customer that you have in mind for your business.

Back when I was starting my business, I can see so clearly now that my mistake was I was too afraid to get specific. I was too afraid to niche down because I was worried that I would prevent other people from working with me. I was also really afraid of over-promising and ultimately having a customer be unhappy that they invested with me. So this all brings me to mindset. But one day I invested in my very first group coaching program. It was $60 a month, which was kind of a big investment at that time. But since that happened, everything in my business changed. I got connected to more than one thousand people who could relate to what I was going through and some of them even became customers of my business. So putting myself in a community helped me understand in my mind that I was not alone and that I had the support when I needed it. Another area of mindset where I see people getting tripped up is that they think, "Well, my market's too busy.

I can go deep into the mindset roadblocks I see entrepreneurs struggle with, but I'll just share one more, and this is one that I've struggled with for probably most of my life and it is caring too much about what other people think of me. Can you relate to that at all?

I was so scared when I first stepped out as an entrepreneur or even launched a personal brand, but the funny thing is, I was most scared of what my friends and my family were going to say, so it took a couple of years, but as soon as I really let go of their opinions that I was projecting they might have, the more comfortable I got with putting myself out there, even doing posts just like this for you.

• Do you struggle with your own internal thoughts, mindset, and motivation?
• Did we do calculus in grade eight?

We're not talking about high school math. We're talking about you knowing the numbers of your business. So the very basic number I ask my students to know is, how much do you need to make in your business to live?

So, look at your living costs, look at your expenses and understand, do you need to make $4000 a month or are you okay with $3000 as you're getting started with your business?

So count backwards, look at how much you need to live and set that goal as your first initial goal. When you're getting started with your business, as your business is running, now is the time for you to become really clear on the difference between revenue versus expenses versus profit.

This is one of my favorite topics to talk about because I see entrepreneurs often kind of bragging about their big revenue goals that they hit, especially when they launch something live.

But the truth is, we don't actually know how much money they're taking home after their expenses. So I used to be kind of obsessed with revenue numbers too, but then when I realized I was only taking home 20% of what I made, that didn't seem right to me. I then shifted my focus to not make more revenue but to actually cut down on my expenses so that I could take more home. So knowing the difference between your revenue and your profit is really key to actually understand the health of your business. The last thing I'll say about math is actually knowing industry benchmarks. So what do I mean by that?

What you want to know is the typical averages that your industry is getting when it comes to conversions and sales.

I don't want to get too technical here, but just to give you an example, if you were to create a landing page, the industry average of people who land on your page and opt in, so they make it your Thank You page is about 20%, maybe even 30% I would say. So for example, if your landing page is not converting 20% of your visitors, that is a red flag for you to understand, "Okay, I'm not meeting the industry standard. I need to revisit and redo this.

Money is a big one. So how do you know if you're charging enough or not enough?

Here's what I recommend to someone who's getting started, especially if you've worked in a day job. My best recommendation is to look at your last salary and calculate what your hourly rate was. That's a good benchmark number to start with when you're looking at charging for your services or your coaching.

So when I got started, I was making about $35 an hour. So when I'd calculate how much time I'd spend with each client, that's how I landed on my very first client package of $1150 a month. Where I failed was I didn't continually raise my prices. So I recommend to you to raise your prices every six months. Literally go to your calendar and put a reminder in it for you so that you can take that day to reassess where you're at with your business and if your experience warrants raising your prices.

What can you offer to them after that service or that experience is done?

Now, if you like my post, I want you to leave a comment and stay tuned for next week.

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