A key to Long Term Self-Employment Business Prosperity

The following blog post will take a step-by-step approach to showing how you can build a business that can sustain itself even when your client base diminishes. Additionally, it will educate on the ways in which you can sustain your own income, meaning that if your clientele falls off in future years, you will still be able to pay the bills and afford investments into the company.

There are two main components to this perfect system: a product or service, and an investment. The product or service is what you offer as the core of your business; it's what establishes its value and marketability. An investment is used as capital for further expansion of either the product or service.

The greatest thing about this business formula is that if you implement it correctly, the business will be able to adapt to a drop in clientele by offering additional services or products. This way, if your "core" product or service no longer yields results, you'll still have other streams of income working for you. This also means that as a business owner, you never have to worry about competition entering your market, because you're always going to be adapting and changing with the times.

This blog post will be covering how to create a sustainable online business, which means that it will take a look at two main components: the product and the investment. Both of these are crucial aspects to building a long-term business.

1. PRODUCT OR SERVICE (Core Business Model)

The main thing that separates successful businesses from unsuccessful ones is the customer base. If you don't have customers, then your business doesn't mean anything and you can't make money. This means that identifying your target customer/client base is essential in starting up a successful venture; otherwise, you'll end up spending all of your energy and money on something that doesn't sell or appeal to anybody.

So how do you find out who your target customer is? At this stage, nobody knows who will be your target clientele more than yourself (unless there's been previous research done). The first step is to figure out what you want to offer your customers/clients. For myself, I decided that what I wanted to offer my audience was a service where they could purchase a copy of my book and receive their own copy through the mail.

With this in mind, I started researching what types of books people were buying. I wanted this product or service to be specific, so I went through Amazon's top 100 best-selling books and listed down the ten most popular ones. Here are my findings:

1) "The 4-Hour Workweek" by Tim Ferriss – a guide book that teaches people how to make money (which includes constantly working less hours) using a network marketing business model.

2) "Think and Grow Rich" by Napoleon Hill – a self-help book that states the importance of visualization and believing in one's goals. It's also a good motivational tale for those looking to start a business.

3) "The Secret" by Rhonda Byrne – an inspirational guide on how to be happy in life, follow your dreams, and get whatever you want out of life.

4) "Rich Dad Poor Dad" by Robert Kiyosaki – an introduction to the concept of financial freedom through investing, real estate, and cash flow businesses.

5) "The Magic of Thinking Big" by David Schwartz – a book that talks about how you can achieve anything you want if you just think positive thoughts and visualize your goal. According to the book, the biggest thing that holds people back from achieving their goals is their own negative thoughts.

6) "Think and Grow Rich for Teens" by Napoleon Hill and Robert Allen – a sequel to Napoleon Hill's famed self-help book on reaching one's goals through positive thinking.

7) "The Alchemist" by Paulo Coelho – a motivational tale in which the main character learns an important lesson about life while traveling around the world.

8) "How to Win Friends and Influence People" by Dale Carnegie – a book that talks about the importance of effective communication, managing other people's emotions, and remembering the desires and needs of others in order to get what you want.

9) "Lying" by Sam Harris – a self-help book that tells you how lying is almost never necessary if you know how to use your words effectively in interactions with other people.

10) "The Power of Positive Thinking" by Norman Vincent Peale – a book that tells readers how they can control their own thoughts and emotions, thereby gaining more power in their life.

The ten books above will be my main target audience. I've also made it a point to have books of my own to sell, which I plan to write in the near future.

After figuring out who your target audience is, you have to establish how you are going to reach them. If you want your product or service to make serious sales, then you're going to have to find a way for these people to find out about it. The best way to do this is by establishing a website and/or blog that will act as your company's hub; every aspect of the company should revolve around this web address. The link should also be used to spread the word about your business; you can use it on social media sites or in email newsletters to inform people about your business. You can also use this link to tell people how they can purchase your products/services. In my case, I'll be using the website to let my audience know how they can purchase a copy of my book and other items by me.

2. INVESTMENT (What is Needed to Get the Business Up and Running)

START UP COSTS: $500 – $5,000

The first thing you have to do in getting your business up and running is find a good place to start. For me, I picked a domain name, which I purchased at Namecheap.com for $8. Using this website not only allows you to find the perfect domain name for your business, but it also gives you an easy way of spreading the word about your website by offering affordable hosting services that come with free features such as free email accounts and marketing tools like blogging platforms and SEO tools.

Conclusion

Breaking into the realm of entrepreneurship can be scary, especially if you don't have much startup capital. However, every successful entrepreneur was once in your shoes, struggling to get their business up and running. So what separates the successful entrepreneurs from the unsuccessful ones? Determination. It takes a lot of effort and energy to bounce back from failure and try again, but each time you fail, you learn something new that will help your business succeed in the future.