The 4 Best Online Business Strategies

Almost always, the reason for business failure has to do with poor planning and execution. Instead of developing a strategy and applying it, the struggling business owner took a shot in the dark and didn't hit her target. Now she finds herself wishing she had followed a step-by-step approach, and built a solid foundation for long-term success.

What is the difference between you and someone who is making a hearty living with their Web business? The classic reason is that they found a need and filled it. But chances are, they also got savvy and applied a sound business strategy.

Iphone Application

Many different strategies will work, just as many roads lead to the same destination. You've probably got a good online business idea cooking already.

Play with it a little. Stretch and snap it in different directions. Ideas are like Silly Putty - a mass of flexibility and potential.

If you're on the trail of an online strategy, ask yourself:

* Can I solve a problem my customer struggles with?
* Do I have any particular know-how that could benefit my readers?
* Can I to create a resource that a particular group of people need, such as a collection of success stories, or interviews with experts?

What are the best strategies for building an online business? Here's what I've found:
The 4 Best Online Business Strategies

1. Develop an Application

By Application, I mean an iPhone Application that customers can download such as Adobe's Photoshop.

You may use Web and hardware applications all day long and hardly ever give it a second thought. For example, your iPhone Application requires programming skills, so this is an appropriate online career path for someone who has developed programing skills with languages such as Cocoa, Java, Ajax, etc.

If these sound like foreign languages to you, this is not the best online business idea for you. If you like the strategy of developing an application and want to investigate further, consider learning how. Most community colleges teach programming skills.

2. Sell information or consult

Provide information your audience can't easily find elsewhere. Create or teach something that your readers need or value, preferably both.

If you are an expert in any field there are certainly people that would like to learn from you online. This is the online business system approach that my partner and I have used many times while building our business. You can create a download-able product, or create a membership service.

Good writing skills are necessary. Can't write? Then get busy and develop your basic skills. This isn't about mesmerizing anybody with your flair for language. You do need to communicate clearly, however.

How do you develop writing skills? Same way a good violinist gets to Carnegie Hall: practice, practice, practice.

* Write every single day.
* Read your writing out loud.
* Develop an ear for listening to it objectively.
* When writing for your business website, keep your audience in mind.

That last tip alone is worth its weight in gold. Do not write to an anonymous or general audience. Your writing will lack energy and focus. Online, writing that keeps your reader engaged can make or break your eBusiness.

So keep someone specific in mind while writing. Write as if you're explaining something to this person. Make it an intelligent friend who is interested in what you have to say and wants to know more about it.

You need basic Web Development skills as well.

The learning curve is steep for many programs you will need to know. Don't waste your time. Either hire or partner-up with a skilled Web technician or get the necessary skills under your belt quickly.

Delegation can be hard for independent-minded people. Get over it.;) Knowing your strengths is a must. But you've also got to identify your weak areas and compensate.

3. Promote an existing service

* Do you already own a real life business, such as a restaurant?
* Do you sell your artwork out of your studio?
* Would your repair shop benefit from more customers?

Say you run a local business. You want to let the world know that you own and operate the Best Bagpipe Repair Shop in Tuscaloosa, Alabama. Or, you make one-of-a-kind pieces of silver jewelry, or you're incredibly good with Bonsai trees, and you want to sell your goods or services online.

The best online business approach for local business is to get your business seen on local searches. Ranking high for local searches is one thing that can make the difference in small business success. This is particularly true if you offer a service such as healthcare (dentistry, chiropractic), cleaning or repair, because it can really boost your customer base from local traffic.

You'll need:

* a professional website.
* to network with other local websites via link exchanges.
* SEO.
* monetization opportunity. (Using PayPal eliminates your need to set up a shopping cart.)
* a method of shipping your work (USPS, FedEx, UPS).

Also, you'll probably want to blog on your site, so it doesn't appear to be one big advertisement.

4. Develop a community

Think of the most successful online businesses. Their strategy? They provide us with ways to connect. These are the social networking sites, Facebook, Twitter, YouTube, MySpace, Orcut, MoveOn, Digital Point, Oprah, Huffington Post, and more.

If you have an idea, philosophy or hobby that draws a community, a social networking site may be the best online business strategy for you.

You will need a standard website or blog that includes a forum. Community sites are commonly fronted by a blog, or, as in the case of Facebook and Twitter, an interface. Provide room for interaction. Give instruction. Model leadership and vibrant, healthy debate.

* Bear in mind that many of your forum participants are searching for more than social chit-chat. They want useful information and solutions to their problems.

In conclusion...

Develop a sound business idea. Then go forth and multiply it.

Your desire to create a robust income stream on the Web is in itself a powerful force. You can learn how to direct that force to build a lucrative online business. Channel your time, energy and resources and watch your Web business grow and thrive.

But first, do some research and check out the pros and cons.

Ask yourself: Is my business idea

* reasonable
* necessary
* worthy of my investment (of time, energy and money)?

If the answers are a resounding yes, you're probably hot on the trail of one of the best online business strategies around.

The 4 Best Online Business Strategies