Wondering how to start and build an expertise-based online business NOW? Today, I’m going to spill the beans on EXACTLY how I would do it if I was starting from scratch TODAY.

The strategy, the how, the “what I’d do differently if I could do it again” – in today’s podcast episode I am going to walk you through my full thought process, and how I have implemented much of this in my own business this year.

By the end, you’ll have complete clarity on how to go about building your OWN expertise-based business based on timeless business strategy and what’s working now.

Listen On: Apple Podcasts | Spotify

Step One: Start with the RIGHT Business Model From the Outset

The critical first step? Starting with a business model that you can sustain for the long term. Building the RIGHT business model for your endgame is critical; because if you get this wrong two things will happen.

One: You’ll work incredibly hard building something with a fundamental fatal flaw baked into it from the outset.

Example: You build an agency; but you don’t love the idea of a big team. No amount of hard work will allow you to “fix” that. You will need to ultimately change models to get the outcome you want.

Two: You’ll likely need to hit the reset button at some point, and start again.

Building a business model with a fundamental fatal flaw in it means that, at some point, you’ll need to hit the reset button and start again. Nothing is ever “lost” because it’s all learning, but it DOES mean you’ll need to move through the early stages again. Sometimes, this will happen simply because you’re learning what you do and don’t love as a new business owner, but if you can avoid it with intentional thought and consideration from the outset? It will save you from sprinting months and years in the wrong direction.

I have seen many business owners, myself included, hit reset this year.. and go BACK to the thing that lit them up right back in the beginning. Sometimes we think we need to do more, or that we don’t “know what’s best”; often, that’s not true.

Step Two: Focus on ONE Offer

The simplest way to scale a business is with ONE offer. I would – and have, with Lifestyle Business School – go all in on building ONE offer.

I would spend a LOT of time in ensuring that the positioning of the offer was first class. Specifically, I would focus on this:

• Solving an urgent, painful problem that people are already paying to solve;

• Positioning the offer to one easily accessible market;

• Amplifying the value of the offer through specific positioning, easily recognisable value and bonus stacking.

I would ensure that the offer is able to be scaled with leverage from the outset.

I would pitch my new offer to the people that download the lead magnet. Once I have takers, I’d build out the offer messily.

Step Three: Create an Incredibly Valuable Lead Magnet

I would start by creating an incredibly valuable lead magnet that is closely aligned to the offer. I wouldn’t worry about whether I was giving too much away; on the contrary I would give away my very best stuff (but in a strategic way).

I would get it out there quickly, and make sure that I do in fact have an easily accessible market by trying to get registrations even without an audience yet.

Step Four: Set up ONE Social Channel and ONE Authority Channel

For an expertise based business, the authority channel I would choose would be a podcast with a newsletter attached to it. I would start promoting the free lead magnet from episode one, and I would then add everyone that registers to the newsletter.

I would set up ONE social channel that makes the most sense for my audience, and I would commit to showing up there every second day at minimum.

Step Five: Build a Sales Funnel

I would then build out a sales funnel for the offer. This could be a live system or an evergreen funnel, but I would ensure that it has a clear journey that makes sense for the offer.

It would need an invitation page, the ability for a lead to register, some value and then a sales pitch.

Based on data and my revenue goals, I would set a goal for the number of people I need to enter that funnel.

Step Six: Create a Marketing Plan

I would then create a marketing plan for HOW I intended to get the number of eyeballs to the start of the funnel. This would include my authority channels, but I would also need a new lead acquisition channel – ideally, just one to start with a clear picture of how I would generate the number of eyeballs required.

Step Seven: Track the Data and Iterate

After starting to implement the marketing plan, I would track the data every single day and ensure that I am focused on solving the right problem.

If the problem is traffic, I would review my actions and the outcomes, and adjust as needed.

If the problem is that traffic isn’t buying, I would fix the step in the funnel that isn’t performing.

Solving the RIGHT problem is critical. I would be clear on whether it was traffic or conversion (or both), and act accordingly.

Step Eight: Move My All-In Focus to Deliver

I would then move my ALL IN focus to systemising and streamlining the offer, starting with buyer delivery, then systemising the deliverables and finally building out robust offboarding options to increase customer lifetime value.

Step Nine: Outsource

Up until this point, I would recommend doing it all. It will feel busy and full, but it’s how you learn the “how” of your business.

Once you have all of this done, I would then start tracking my time and looking for opportunities to buy back time. I would start with low value tasks, and incrementally go from there.

Step Ten: Rinse and Repeat

I would commit to this, and doing MORE of what works, until I got to $1m. The key would be a monthly commitment to data tracking, and iterating the strategy based on data.

Over to You!

So, there you have it! The simple way I would commit to scaling a new business to $1million dollars. So often, we over-complicate the process, or get shiny object syndrome, or do a million things that don’t actually move the needle.

Committing to this process from start to finish, and staying the course, with an offer that converts and is set up from the start in a way that is capable of achieving your desired endgame – is the secret to success.

Want more? We’ve just launched a free four part series, where over four free lessons we break down for you EXACTLY how to implement this process into your business. To get it, click over here and download our free business diagnostic, you’ll see an invitation to the training on the thank you page.

Want more? Here’s how we can help you:

1. Listen to Lifestyle Business School — The Podcast: With over one million downloads and counting, get the behind the scenes strategy on how to how to package and market your intellectual property to build a leveraged lifestyle business where your value is divorced from your time. Subscribe here on Spotify or here on Apple Podcasts for new episodes every week.
2. Download our FREE 26 Page Expertise-Based Business Diagnostic: Get Clarity on what to work on first or next to help you start or grow your leveraged expertise-based online business. Click here to get it for free.
3. Join Lifestyle Business School Today: Get the complete Operating System for starting or growing an expertise-based online business to the Lifestyle Business Sweet Spot. Click here to join today. 

Keep Listening!

Listen On: Apple Podcasts | Spotify