This post was created to give you specific strategies, inspiration, and some ideas you are able to use to create more leverage in your business today that will help you overcome several of the adversity you face as a solo preneur, and take the entrepreneurial drive of yours, energy, and ideas to the next level.
Four Ways To Achieve More With Your Online Business
As a solo preneur, you must start outsourcing several of your responsibilities and activities. These is able to be items you need done but are not doing, things you are currently doing but are not part of the unique abilities of yours, things you are currently doing but can be done cheaper (based on the way you appreciate the personal time) of yours, or perhaps just things you suck at that someone else with specific training can do much better and probably faster!
I enter a wide range of detail on outsourcing but you will be better off reading the exact techniques I outlined in my previous article: The ten Steps To Successfully Outsourcing The Online Business of yours.
The life of mine and my business has never been the same since I started outsourcing many of my even, research, and technical managerial tasks. I can now concentrate on my unique abilities that actually earn me money, and I’ve much greater leverage in the business of mine and what I are able to do for myself and for the clients of mine.
#2 Get A Business Partner!
Getting a business partner may be one of probably the greatest forms of leverage for both you and the partner of yours, particularly when done properly. This does not mean you take what you actually have and give half of it out to someone who will be the partner of yours, and it does not even suggest that you will start a brand new venture and split everything 50/50.
You are able to set up revenue sharing and equity partnerships for brand new or perhaps existing ventures based on what each individual brings to the table.
This may be an excellent choice in case you’ve new ideas for businesses, but do not have all the time or perhaps resources to create them. In such a scenario, you will provide the ideas of yours and even some resources and even several of the time of yours, but find a business partner to run that profit center for you where you give a fair share of equity and revenue to that person. This allows you to leverage the ideas of yours, resources, and creative abilities, while having someone else do most of the implementation work. This allows you to build multiple businesses simultaneously and expand your larger brand while also providing other entrepreneurial minded individuals with great opportunities that could be much greater than what they could produce on their own.
On the flip side, you are able to partner with a more successful entrepreneur and help them build out the new ideas of theirs, giving you great experience and a large financial upside with less risk, while leverage their creativity, experience, resources, and ideas.
Naturally, you are able to also equally partner with someone on a brand new venture, in which case you wish to make sure you’re really leveraging each other’s special capabilities. You need a partner who’s strong where you’re weak, and the other way round. By doing this, one one doesn’t equal two, but something greater, since you are able to do a lot more together than if each of you just duplicated yourselves. It is not just about finding someone like minded but more so about finding someone with complimentary skills and strengths? even in case you may not always agree, you are able to create more profitable and leverage businesses this means.
The biggest piece of mine of advice, something I learned from my mentor Yanik Silver, is actually to clearly define the own special abilities of yours and having the business partners of yours or perhaps profit center leaders do the same, and create partnerships based on these results. The Kolbe test is a crucial tool for determining the strengths of yours and unique capabilities. Yanik had me take this before he considered working with me on any level, and since then I have had each of my employees take it and anyone I have considered working with on a substantial level in business (and in life I actually had my girlfriend take it!)
#3 Leverage Other’s Larger Brands or perhaps Traffic!
You do not have to have the massive traffic or perhaps own a recognized brand to enjoy the benefits. You are able to leverage others’ traffic and brands in a win win relationship where you both benefit greatly.
Guest blogging is actually among the simplest and best examples of this leverage strategy. I’m writing this post for IncomeDiary right now certain I can write and publish the exact same content on the personal blog of mine, or perhaps build my own blog about making money and business advice online, but it will take me ages to be almost the same amount of traffic to the content of mine as I get on the first day of having this particular post published here. Along with the name of mine and my ideas being exposed to thousands of readers, I’m also getting brand recognition by association with the IncomeDiary brand, which increases my credibility online and opens up all sorts of other possibilities for me I never know who may be reading this. Meanwhile, Michael gets some awesome (my humble opinion) content on IncomeDiary and gets a get variety through the many writers of his. He makes money from the web site each time a new article is actually published, so it is in his best interest to have folks like me to write.
Look for a popular blog in the industry of yours and start guest blogging for it. You will be amazed how quickly you gain credibility and industry recognition and you will discover that your own personal traffic will increase as a result, as will the product sales of yours and the ability of yours to charge more for what you do due to the association with a larger successful brand. So long as you offer excellent value, the owners of the blogs or perhaps magazines you write for will greatly appreciate the contribution of yours. It is a complete win win, and does not cost you anything except the time of yours.
Guest blogging is just one way of leveraging others’ larger brands and traffic. You are able to also explore different co branding opportunities, such as co authoring or perhaps contributing to others’ literary works (there are actually branding agencies for new authors that help align you with best sellers costs some money but can be well worth it in case you wish to be a recognized contributor or writer to your industry). Yet another excellent program is usually to interview big names (like IncomeDiary has done) this not only gets you great content and big-name-brand association, but in case you do it right the big names will discuss the interview content with the audiences of theirs, which may get some great traffic back to the site of yours.
You do not have to always have a blogging business to leverage such strategies. For instance, the primary business of mine is actually a web services company, but my blogging for IncomeDiary or perhaps doing my own personal side interviews with Internet marketers helps establish me as an authority in the industry of mine, all with a lot less work and less money than it will take to get the same level of recognition through paid advertising or perhaps direct sales.
The flip side of this’s that in case you currently have a recognized brand, you are able to totally make use of this technique to let others leverage the brand of yours to create more leverage in the own company of yours. When you have a blog, you are able to recruit great guest bloggers. When you own more of a traditional business, you are able to use your recognized brand to recruit interns who’ll work for you for free to be able to get the experience and the brand association that will come with working for you. What better leverage than labor that is free! Especially free labor passionate about the chance to contribute to the business of yours
#4 Develop a Product!
An excellent way to leverage the current efforts of yours would be to produce a product in case you have not yet. Because we are talking about online businesses with these, you are likely familiar with info products. You’ve to understand that in case you’re doing something successful in business, most people are probably willing to pay you to teach them how you do what you do, what resources you use, what strategies you have picked up, and how you can achieve success at what you do.
If you feel you do something or perhaps know something that folks are actually prepared to pay you to teach them, then you’ve an easy chance to leverage the current knowledge of yours and/or business processes by creating an info product out of them.
This’s really simple document what it’s what you do that others will find useful. Write it in such a manner that you can understand it when you were brand new and wish you’d this info. You are able to make it a combination of PDF’s, worksheets, audios, videos, and more. You are able to sell it through a marketplace as ClickBank or perhaps entirely through your own membership site. You will find entire products and sites dedicated to teaching you to develop and monetize your own info products, so I will not go into all of the steps here, but I will certainly motivate you to explore any unique value you’ve to provide that others will pay for and make it an info product. Among the several ways this site (Income Diary) makes money is actually through Michael’s product exactly where he teaches how you can create a profitable site this way. He might have the profitable site with the product, but Site Profit Domination makes the web site a lot more money from a method which was already being used and documented anyway.
Even in case you only sell it for a couple of bucks (you are able to do much better compared to that!), you are creating additional leveraged income that you’d not have normally had from knowledge you already had. Additionally, documenting your unique processes and success story can really help you improve and systemize the own company of yours!
I am going through this particular process now, creating a high ticket product on how you can set up a successful web services company, and in addition to opening an exciting stream of leverage income for me in the near future, it has been an amazing process of documenting and systemize my business processes and increasing delegation and efficiency within the company of mine.