How can you build a sustainable 7 figure online business? How is it different from earning 4, 5, or 6 figures online? And how can you scale to success? It’s very well possible to build a 7 figure online business. The online world offers lots of potential for making money – be it eCommerce stores, affiliate marketing, or social media marketing. But if you want to build your online empire, you probably also want to do it fast and make it sustainable. In this article today, we will reveal secrets to running a 7-figure eCommerce side hustle.
Build Your Personal Media Platform
To build a 7 figure online business you’ll definitely need a strong online presence. The more social media platforms you are on the better. There’s nothing like “too much” presence online. People need to know who you are and what your message is. Only then can they build trust in you – And they will only buy from you if they trust you.
Every social media platform has a different audience. So, if you are active in many of them, you have the power to address several audiences. Dan Lok has big accounts on every major social media app and they are definitely a reason for his huge success. As of now, his youtube has 2.5 million subscribers. So, everything he does is seen by millions of viewers each day.
If you pick one platform to start, then it should definitely be youtube. Why? Because youtube has the second most powerful search engine on the whole web. So, it’s your best place to start. But to scale up and get to 7 figures, you want to be omnipresent – you want to be active on every big platform.
Make Your Message
The next aspect that will make your 7 figure eCommerce side hustle successful is your message and your personal brand. The most important point is, that you have to stand for something. Most people make the mistake of trying to market to everyone. That doesn’t work because you become too generic. Generic doesn’t stand out.
To have a clear message you have to identify your target audience. And I repeat – your target audience isn’t everyone. Find out who you want to serve. Men? Women? Students? Fitness junkies? After you’ve identified your audience you can model your message and brand accordingly. The right brand message is often polarizing. The right people will love you for it and the wrong people will be completely turned off – and you want it that way.
Your personal brand is extremely important for your online presence. It helps you to build a tribe of loyal fans who love you and want to buy from you. Having this kind of relationship with your fans is a form of social capital. According to Dan Lok himself, social capital is often more valuable than financial capital. If you know how to use your social capital wisely, you can turn it into financial capital anytime you need it – it’s almost like a by-product.
Products For 7 Figure Online Business
The next thing you’ll need for your 7 figure online business is a product to sell. It can be anything from a product you developed, to online training, or already existing products that you sell via an affiliate link. All these options are valid.
When you come up with a completely new product and your own idea you want to keep some things in mind, however. Before you start investing time and money into its creation, check the market. Is there any demand for your product?
Is this something people really care about? In other words: is there a starving crowd hungry for your product? The thing is, you can’t create new demand in the market. You have to find out which demands and desires are already there. Then you offer a product following that.
Create Your Own Course
Creating your own online course is the easiest way to start your online business. Keep in mind, that it has to be valuable, however. The people taking the course need to be able to create actual results. You will then take those results and use them for further marketing. Their success helps to build your brand further.
Now, how do you create such a course? First, it has to be a topic you know a lot about. Preferably something where you are already successful. Then you get into the thinking. How did you get successful? How can you reverse engineer your success for others? Spend some time on this. This is one of the cornerstones of your business.
A course that doesn’t work kills your reputation. Don’t create it just to make quick money. It should be something you actually care about, a message you want to share with this world. If it’s important to you, you will automatically create a better experience for your students too.
Maybe you are thinking now “this all sounds like a lot of work”. It’s true, to follow this blueprint you need some endurance. And you also need to be willing to deep dive into the different aspects of your business. You need to become an expert on how to create online courses. Learn how to build a funnel. Think exactly about your target market and your branding message. Or get advice from the professionals to leverage your knowledge about eCommerce side hustle!