Every business struggles from time to time, however, for those of us in the online service industry there are at least five issues that come up often. These Top 5 struggles can stop you in your tracks if you are not mindful of them. So, let me help you overcome and master these top 5 struggles in your online business.
Mastering Struggles In Online Business
Many of you can probably guess a number of these top 5 struggles. So, let’s take a look at them and see if you know all 5.
Struggle #1 in Online Business
Attracting Clients – This is always a challenge that online service providers and agencies face from time to time.
Struggle #2 in Online Business
Consistent Content – Producing content, especially if you are not very creative, can feel more like a chore. However, it is a necessity in our online world.
Struggle #3 in Online Business
Cash Flow – For micro and small businesses is difficult. It seems that as soon as the deposit hits the account all the expenses start to be pulled out.
Struggle #4 in Online Business
How to Grow – is also common in online services. You often hit a wall where you just cannot seem to move forward or beyond a certain revenue point. There can be several reasons for this. One of which is that you have hit the maximum number of billable hours you can work and may even be turning work away. This is a common mistake.
Struggle #5 in Online Business
Add a Team or Not – to do it or not to do it, that is the question. Many do not want the extra work and burden of managing a team. Although some have the misconception that it will be more work. It certainly will be tasks in the beginning. If, however, you work well with others and have collaborated previously, and have no trouble handing off work, virtually, you may be a good candidate to begin building a team. This is a great way to scale exponentially through your team.
Are any of these areas you are currently struggling in as well?
Mastering the Top 5
#1 – Attracting Clients
Finding new clients during these economic times can be difficult. Not as many people are starting new businesses right now but many are taking on additional jobs. My husband, for instance, had to take a second job to make ends meet and get the It is also why you must keep your marketing wheel turning even in growing and abundant times.
I’m a big advocate of SEO Blogging. I did this for clients all the time as digital marketing agency. It is one of the best and fastest ways to rank in search engines and for clients to finde you.
I also discuss it in this quick tip video. Put your title in the form of an answer to a question from your prospective client. What would they ask in Google? Then create an article that answers that question.
“Instead of reaching out to clients, why not let them find you? Yes, it’s possible.
Leverage the proven power of content marketing to drive clients to your website (and let them reach out to you).
Use various forms of content blog posts, infographics, guides, videos, Slideshare, podcasts, etc., to establish a brand and demonstrate your expertise.”-Astra
Consistency in all of your marketing efforts is key. As is networking, even online, is a necessity. Set about to meet one or two new people minimum per week. You never know who they may know who may need you.
#2 – Consistent Content
Creating content can feel like a chore if you’re not very creative. However, it’s a necessity. Thus why planning out your content in advance is imperative so you can remain consistent. Planning it out makes all the difference. Not just planning the topic here, but actually planning a minimum of 5 bullet points as well. You will not believe the differnce it makes in your being able to be consistent with your content.
#3 – Cash Flow
Planning ahead can help you prepare for leaner times. Try putting a little money aside (even if just mentally) to be sure you can cover the needed cash flow later when times are a little tougher.
#4 – How to Grow
To master number 4, You might consider subcontracting others who have the skills you need for a short period of time to do projects and help you if you do not manage a team (or bring on a virtual team to help full time).
Alternatively, you can scale your online service business by adding a virtual team of subcontractors. They would be more long term versus the short term.
You can also grow through analysis and revenue review. Take a deep dive into your analytics, including your revenue and expenses, and figuring out if you are charging your worth can help you grow.
#5 – To Add a Team or Not
Do you want to manage others? Do you delegate well? These are two questions, to begin with in deciding if you want to build a team.
Don’t be afraid that adding a team will mean more work. In the short term this is true, but in the long term, it is a great way to build more billable hours into your online service business without working many more hours yourself. It will be worth the effort, believe me.
In many ways the mastering the 5 top struggles of the online service industry today could be boiled down to consistency and planning.
How do you plan to be consistent in the future and master these areas of struggle?
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To Your Continued Success, My Friends!