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Taking your business from a list of the “50 best business ideas” is not the only way. It is a process to ensure that you achieve the business most profitable in 2021. I am not saying that there is anything wrong with you taking guidance from these such lists. Know that there is more to it than starting a business from a list of ideas.
The 3 steps that you will learn today on how to make your side gig most profitable in 2021 are:
1. Build relationships
2. Be you
3. Create an irresistible offer
First I want to say that it is great that you are thinking of profit first. As discussed in Mike Michalowicz, Profit First, it is important to take your profit first. Money is the foundation for a business to be successful. The majority of business owners try to grow out of their problems. So, overcoming this way of thinking and action is good to not be the majority.
Keep reading for the foundational parts to achieving a business most profitable. These are the initial steps in the process of building a business most profitable. Stay tuned for more in the future.
I am someone who prides himself on building relationships. People forget something that is common in every business. Forgetting this part, you will lose clients, networking opportunities, and business partnerships. The essential thing to remember in all your business dealings is-people. At any point and time, a relationship that you built may 5x or 10x your business to be most profitable in 2021.
The relationship to focus on building a solid foundation is the customer relationship. This goes beyond finding out who your ideal client is and what problem you want to solve. Actually, find out by building relationships with them to see how you can help them. For example, you are a fitness trainer and your primary goal is to help people lose weight. To niche down further you can focus on helping people with diabetes lose weight. (I know some people with diabetes don’t have a weight problem and they may have been born that way as type 1.)
So, the point here is, that you can help people with this disease stay healthy. You may be thinking OK, I have a niche there. How do I build relationships with them, so that I have a business that is most profitable in 2021?
Well, find out where your audience is. Look to join Facebook groups, Reddit groups, or other online spaces. (Even during pandemics, for the sake of this example you may find people meeting in your area with specific issues.)
Once you find out where your people are go to them and ask them do they work out, and if not, why? Maybe some other related questions to this example to find their pain points. With the specific pain points found begin talking to the people on an individual basis. This gets a better understanding of what they may be going through.
This personalized touch with each individual will begin to create a great relationship. It builds a pathway to having raving fans. You can begin to craft your business around the issues that they are going through. They are helping you build a business that solves the common problem. Also, make sure to ask for their email address so that you can add it to your email subscribers list.
You can begin nurturing them through a routine sequence of updates through email. It can be on content and other items to provide value to them. These start out individually to the people and not a blast all clients email. The more personalized situations starting out the better.
Further resources to attract better clients as you build your email list faster are here. This is a free training and you cannot miss this step to have a business most profitable in 2021.
Too often do people spend time daydreaming about what a business that is most profitable would look like in 2021. You do not have to recreate the wheel when wanting to start your business. Know that you want to help people while remaining yourself in the process, and of course- make a profit.
In regards to remaining yourself in the process think about what makes you stand out in a crowded 3-second world. You are something that nobody else in this world can be. Thus, shining a light on what makes you unique.
I will use myself for example. I am a productivity coach that helps people build side hustles efficiently and productively to achieve 4- figure months without overwhelm, burnout, or procrastination. I know, there are many of them out there. I tend to focus on and bring attention to something different.
That is the importance of family and balance in your life while on this journey. Have I seen other coaches mention this? Sure, but not a lot of focus is put on how to include the important people in your life. So, I plan on further educating people on how to keep this balance with family or your spouse. Running a business is hard enough, now throw in job responsibilities as well as normal family bonding time. Without balance, this brings Burnout and Overwhelm, two very close friends with people trying to build a profitable business.
So, stay tuned and subscribe to the Active Entrepreneur Community. We begin to start combating some of those annoying behaviors that stop us from side gig success.
Understanding what separates you from the competition will be your biggest selling point. They will resonate with the message you are speaking.
Let’s go back to our fitness trainer example for a second. You have spent time cultivating relationships and providing value by this time after understanding their pain points and concerns. We should be primed and ready to build a program, book, or course to solve their problems.
This is especially true if you went ahead and took the free training to turn your leads into customers.
Make sure you have continued to build relationships and get their feedback. This allows you to bring to their attention the service or product you have to solve their problem. They will be hungry to buy what you have to sell. Why? Because you spent time with them understanding them. Making them a part of your process, not just some meal ticket to financial freedom. People love the feeling of being a part of a community or some group. Being in a group that is helping others achieve something bigger than themselves- will bring out the best in your tribe.
Once your tribe of people knows and trusts you, they will tell everybody else about you. It becomes more about the value that you provide than the price you charge for your product or service.
Over the course of the past four years in my lawn business, I have been focusing on building relationships with customers. In doing so, this year alone during the pandemic, I was able to see an 80% increase in our revenue. Thus allowing us to be a growing force within our area for lawn care. See the below image for what our tribe has to say about us from focusing on relationships.
I know this strategy may be longer and time-consuming than many of you would hope. Here is the thing, break it down. Do not try and join a bunch of groups in a day to find your clients. Try one or two groups a day that you find and begin to do outreach, then go from there. True business growth and a solid foundation to grow on takes some time. There is no magic pill to make the most money on the side.
Plus, I do not teach get rich quick schemes or simple plug and play methods. Apart from being you, you are finding strategies that align with your goals and ambitions.
Finding alignment is a part of the line of defense to keep burnout and overwhelm away. More on that soon.
To your future success,
Fabe Mitchell is a serial entrepreneur. When he is not working on one of the businesses, he is spending time with his wife of 15 years, playing video games with friends, and furthering his knowledge in the entrepreneurship space. The ultimate mission is to educate entrepreneurs to be leaders with their life, teams, and business industry in their realm.