The 11 Step Formula For Building A Profitable Business with Cliff Ravenscraft

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In this episode, I talk with Cliff Ravenscraft about the 11 proven steps to build and grow an online business. I've known Cliff for quite a long time now, I've hired him and have listened to his podcasts for many years. Cliff started podcasting as a hobby back in 2005. A year later, he launched PodcastAnswerMan.com where he has since helped tens of thousands of individuals and organizations successfully launch a podcast through one on one coaching and online courses. Today, Cliff mentors coaches, consultants and thought leaders through the transition from their unfulfilling day job to their own profitable online businesses so that they can live the life of their dreams and do the work they feel most called to do in this world. Without further ado, here is Cliff's step by step perspective on how to build a profitable online business.

Are you looking to create & sell more courses? What content do you want me to create that will help you the most? You can go to onlinecoursecoach.com/vote to share your thoughts. As a thank you, I created a free training called “3 Simple but Powerful Ways to Grow Your Email List” when you fill out the survey. Dream big

Online business enthusiasts should determine the outcome they expect out their business. They should start by asking themselves why they want to invest in a particular business and if they have the time for it. Moreover, they should determine the amount of money the business must generate to sustain itself and whether they are willing to input the effort needed to generate the money. Apart from the business part, one must think about the kind of life they want to live thereafter and if their business can help them live their dream lifestyle. It's important to note every bit of it down so that they become goals that you work towards achieving.

Identify where you are already adding value to people's life

Business aspirants ought to find their area of expertise, their talents, passion, and even their experience in the kind of business they want to start. This will make it easy for them to connect well with their target market. It also ensures that one can provide their target audience with exactly what solves their problem.

Determine the ideal customer for your business

Most people make the mistake of attracting the wrong customers to their business. Ideal customers must have purchasing power and a problem to be solved. Most importantly, they must be willing to pay something in order to get their problem solved.

Learn about your ideal customer's problem

The best way to do this is through conversations with people who somehow fit your ideal customer. Find out what their struggles are and the pains that lie within. The goal is to find the best way to solve their problems and even learn how to communicate with them effectively.

Determine the type of products and services to offer your target audience

This is where business enthusiasts have to delve into one on one coaching. It's more about finding out what people need and how you can offer them exactly that.

Create your value proposition statement

A value proposition statement is the elevator pitch of a business. Before creating a value proposition statement, one must answer these questions: who they are? what is their professional identity? what problem can they solve to people, how and why do they solve it? For instance, here is Cliff's value proposition statement: "I mentor coaches, consultants and thought leaders through the transition from an unfulfilling day job to a profitable online business so that you can live the life of your dreams and do the work you feel most called to do in the world." In short, it should be intriguing and still give people enough reason to follow you.

Validate your business

A business is not valid until an actual transaction happens between a course creator and their ideal customer. There's no point of spending time and money preparing a course for 3 months without the surety that someone will buy. Most course creators make this mistake and forget to market and sell the product first. Rather, they should prepare something like an outline for their course and see if someone will buy the idea. Once that happens, then business starters can be sure that they have a valid business.

Content creation

This is where people can create websites to help them sell their products and services effectively. At this point, business owners can create detailed content for their audience because they would already have known that people are interested in buying it - from step 7.

Grow your audience

There are many approaches that online course creators can use to grow their audiences. Check out these 5 ways to grow your audience for your online course.

Market your products and services consistently

Building an audience and solving their problem is just not enough. For a business to sustain itself and enjoy more success, the owners must continually market their products and services to their audiences. It's more about building relationships with customers and caring about their needs. Go here to learn crucial marketing tips for your online business. 

Go back to step 1 and start over

After completing the above 10 steps, business creators should go back to their original plans and now identify more problems their audience are having and how they can solve them. For more insights on starting an online business, growing your audience, and marketing your online course, check out nextlevelworkshop.info.

Are you looking to create & sell more courses? What content do you want me to create that will help you the most? You can go to onlinecoursecoach.com/vote to share your thoughts. As a thank you, I created a free training called “3 Simple but Powerful Ways to Grow Your Email List” when you fill out the survey.