The vast majority of solopreneurs fail to build a profitable online business. Sad, but true.
According to Netcraft, the authority in this field, there are 173 million active sites today. You can see that the number has been flat for years, indicating churn. Most of these are “fails” being replaced by new players. Hopefully, some are folks trying again a second or third time (the first is often the learning curve)…
We combine the above data with an interesting finding…
Our Alexa study shows that the vast majority of sites “live” in the “long tail” of sites that receive virtually no traffic. Sadly, the percentage of solopreneur sites in the long tail rises as the Alexa score does.
So… a small percent of solopreneur sites are in the Top Million. But the percent rises fast until almost all in the top 5 Million are solopreneur sites (beyond which there are 168 million more sites)!
And remember — these are the “active” sites (i.e., still online). Ten times as many have been shut down. The big picture bottom line is dismal indeed.
Does that mean not to even bother trying? Nope! Just try the right way! Following that advice alone will give you a huge leg up on those who believe the Super Bowl ads that a “stunning website” is the same as having an online business that spews cash.
“Try the right way?” Hmmm! 🤔 That tip is as helpful as advising you to run faster than everyone else to win the next Olympic gold medal in the 100 meter dash!
You’d want to know how! Well, good news…
You’ve come to the right place. We asked 95 of the finest minds in the “solopreneur business space.” We had two goals for this roundup of these sharpest of the sharp…
- Let the “Wisdom of Crowds” phenomenon bubble the most important answers to the top. This approach finds the most important points with uncanny accuracy.
- Let you pick each expert’s mind. Each has his/her own unique take on the question that we posed.
If you’re in a hurry, studying the lessons from the first approach gives you the common threads of the collective wisdom of 95 experts. Mastering those few critical elements puts you ahead of most solopreneurs who pick a domain name and get started.
Is that enough if you combine it with “preparation, hard work, and learning from failure” as Colin Powell says? Probably not, but it’s sure going to…
- put you in the 90-95 percentile
- position you for the final assault into the Top 1% (i.e., an Alexa count of better than 1.7M)
And that is a darn good start. More importantly…
Mastering this “ultimate wisdom,” we promise, is going to eliminate failure before you even start. “Predestined failure” is the saddest part about those who start with hope and faith, but little knowledge beyond what they find in heavy advertising.
It may be sad, but it is what it is. Not enough people take it seriously enough, not nearly as seriously as offline. Why would that be?
The reason is simple. There’s little financial risk online. You don’t sign a $2,000 per month lease. There’s no one to hire. You already have all the “equipment” you need, a computer and Internet access. Costs are pretty darn low.
So most would-be solopreneurs have the following in mind when they start…
“All I can lose is some time.”
Our view, though, is that your time is more precious than money. You can replace lost money, but lost time is gone forever.
Raise your online business IQ to maximize your odds of success. And that brings us to the second approach to the answers…
Each and every expert provides individual answers. You may know some names quite well. Start there. But read them all — new ideas may come from those with whom you are not familiar.
This survey has (accidentally, we admit it) become one of the most valuable e-books on online business success at any price. And it’s free.
Read it all.
Some answers recur, of course. But they’ll be stated in each author’s unique way, adding depth. And then there are the less common, even unique, answers. These are bound to stimulate you…
At least one or two will give you a great idea for your business if you are just starting out. Or, if you are struggling with a 5-year-old business, you may discover the solution to a problem.
So get the PDF version of this post. Set aside a few hours (tops!) for an evening or weekend afternoon session (see the instructions below for how to get this in eBook format). We promise that you’ll want to thank us later!
Oh, Hold On. You’re Missing Something!
As mentioned, we gathered 95 experts for their carefully considered thoughts to the first question that just about any solopreneur would want to ask of these folks. In other words — if you managed to trap one in an elevator, it’s what you’d ask.
You’d have to be mighty lucky to trap 95 like that! And what a mix of experts it is… entrepreneurs, solopreneurs, marketers, speakers, consultants… even a dance instructor!
All have lent their advice so that we can piece together the most valuable info you may ever acquire about online business.
But what the heck was the question?
OK, enough teasing. 😃 The envelope, please ✉..
< drum roll 🥁>
Here’s the question…
Q: What are the three most important best practices that a solopreneur must do well in order to succeed online? Add more if you feel that 3 is too limiting.
No multiple-choice question here. We wanted to pull pearls of wisdom out of their brains, make them put those thoughts into their own words. Here’s who “they” are…
Don’t have time to read them all now?
Let’s Begin!
We can bow out from this introduction now and turn the floor over to “The 95.” Are you nice and comfy, beverage in hand? Or perhaps you’d rather skip to the “Wisdom of Crowds” common threads?
Either way, here we go…
First of all, if you’ve made it this far, congratulations! You’ve just consumed an entire semester’s worth of graduate-level advice and lessons. 🙂
Each and every one of these experts offers excellent advice that runs the gamut from Authenticity to Zappos (and lifetime value). Almost 100 best-practice recommendations reveal where solopreneurs should focus their time and energy to achieve a successful online business. One little problem, though…
With so many recommendations, where do you start? As discussed at the beginning (remember way back then?), the “Wisdom of Crowds” has indeed bubbled the 3 most important must-do-well actions to succeed online.
We added supporting information to summarize what the experts said about each. And, faced with an abundance of high-value responses, we added a free bonus. You get the next 7 most-mentioned, rounding it out to the Top 10!
Make these your business-building priorities. Heck, tattoo the following “Big 3” onto your forehead as an auto-reminder each morning…
#1 Network, Network, Network
Networking and building relationships was the overwhelming favorite among these online entrepreneurs and marketers as the best use of your time. Nearly a third of the experts said this should be a priority!
Kim Garst said, “The old saying that you are who you hang out with is so incredibly true as an entrepreneur.”
And Ian Anderson Grey suggests, “Aim to add value to people’s lives as much as you can. Go to industry conferences and meet people in real life. That’s often where the magic happens.”
Start by reaching out to influencers in your niche. If you want to build a business based on your expertise in raising exotic tortoise species, that is where you network. Social media, Facebook groups, forums, etc. — build friends and reach out (slowly) to influencers wherever they tend to be.
Similarly, if you have an interest in the area of Internet marketing/building online businesses, frequent the spots where those folks hang out. Start by following all of these experts on Twitter. We’ve made it easy for you — subscribe to our list of solopreneur experts.
Networking is a learned skill. Avoid the “bull in a china shop” syndrome — start “slow and low”…
- Slow — don’t try to force anything. Follow for a while to understand those whom you want to reach. Get noticed gradually (e.g., like, share and retweet the posts that resonate).
- Low — if you’re just getting started, focus on making “friends” at your own, or slightly higher, level of engagement. Reach out to influencers who have moderately higher levels. You won’t get onto the radar of someone with 100,000 followers and a high engagement rate until you yourself have grown. Bottom line: Reach for a level that you can actually reach.
#2 Create Content
Not surprisingly, many experts brought up the need for solopreneurs to focus on creating excellent content. Content creation is critical to your success through…
- Search — Content (text, imagery, video) that OVERdelivers high value on search intent throws off tons of “off-site signals” that Google and the other engines track. Over time, these signals accumulate to drive increasingly better search results.
NOTE: We expect Google’s “RankBrain” (the Artificial Intelligence component of its algorithm) to reward the best content more quickly and with greater accuracy. - Social — It simple. Content that engages is content that wins. Blend in some simple strategies such as optimal hashtag use and tagging of the right accounts. You’ll soon have a strong social presence that reinforces the solopreneur’s “Brand of One.”
NOTE: We expect strong solopreneur social media marketers to have an edge over their larger competitors. Great social media is clever, inspired, loaded with personality. It comes from the passion in your gut, not an employee paycheck. - Networking — When your content stands head-and-shoulders above the competition’s, “networking-up” to influencers becomes a whole lot easier. Nothing impresses like the voice of someone who really knows his/her subject matter. Sharp content with an original personality wins!
Tip: How do influencers decide to establish organic (i.e., non-paid) relationships with you? Here’s a quick-and-dirty protocol that they use:
- Read a few samples of site and social content. Proceed to the next step if it’s worthy.
- Check Alexa.com (a rough indication of total traffic) and SEMrush.com (quick metric for search traffic). If they’re high enough to interest that influencer and/or if they’re increasing (shows promise), proceed to the next step.
- Check social networks. How many followers do you have and what percent engage? There is a mistaken emphasis on follower count. Who cares if you have 100,000 followers if no one engages? Focus on total engagement numbers, with “viral” engagement (e.g., shares, RTs) worth more than mere ❤s.
Remember what Andy Crestodina said…
“Your writing drives durable benefits. It’s there when you’re not.”
Well said! Your content is a bit like leaving calling cards scattered around the Web. It speaks far more powerfully than any card, however. The folks whom you most want to reach, influencers, know how to evaluate your content, and the reaction to it, to decide if they want to develop a relationship with you.
Content, truly valuable material that OVER-delivers on a website or blog, that sparks in social media, and that validly contributes in a forum is ultimately the foundation of online solopreneur success.
“Networking” was the #1 most frequently mentioned best practice. But it’s your content that builds the credibility that greases the way for successful networking.
Let’s put it less delicately…
If you put little attention into quality content creation, and/or if you don’t know your niche, the negative impact is significant:
- You end up with poor search results.
- No one engages in social media.
- Influencers won’t answer when you call.
On the other hand, standout content with a unique voice that targets a clearly conceived audience opens search, social and networking doors. It’s all about earning R-E-S-P-E-C-T in your niche.
You’ll build a genuine connection with your audience. That establishes:
- authority with search engines
- engagement on social media
- recognition by influencers whom you, yourself, respect.
Traffic grows. Your “Brand of One” builds. It all ultimately translates into successful monetizing opportunities.
Have you mapped out your content strategy with careful thought (e.g., realistic niche, best topics to cover, how to structure it all, voice and thumbnail/persona creation, etc.)? Step back and plan how you will “stand out through content”
#3 Focus!
Time is a solopreneur’s greatest asset. That means we can ill afford to be distracted or waste time on activities that don’t have the highest yield for business growth.
Early on, your focus is preparation and planning. That shifts to content-creation and social media. When brand and traffic grow, your focus is increasingly on monetization. You never “finish” any stage, merely shift emphasis to the activities that help you grow a profitable business most, given the stage that you have reached.
Mari Smith reminded us of a Stephen R. Covey quote, “You need to stay committed to ‘keeping the main thing the main thing.’” That’s a bingo, Mari!
At any given moment, know what action would best move your business further ahead. That is what you should be doing. We all know, though…
Easier said than done. We live in a medium that is the ultimate distraction generator in the history of the world.
It’s one thing to say “focus,” quite another to do it. To help you with that, and to remind you of the other two best practices, we offer this reminder aid…
Rounding Out the Top Ten
- Get Help
- Be Original / Authentic
- Identify / Grow Your Audience
- Be Social
- Help Others
- Set Goals
- Get to Know and Nurture Your Audience
“The business” can easily consume a solopreneur. After all, you’re it. There are always 10 “to-do” items waiting for you. Your niche should be a joy, of course, so at least you’re “working” on a passion…
But hey! You have friends and family — remember? There’s a whole big world out there. Get out and have some fun with those who matter to you most! If you feel guilty of taking some time off, think of it this way…
You’ll come back refreshed and ready to rock your niche!
Wait! Don’t Bounce Yet
We were just kidding about the “reminder tattoo.” But do revisit this article regularly to refresh your memory, or paste the Top 10 into an Evernote or a weekly reminder app. Time has a funny way of smooshing info together into a blur…
These “Top Best Practices,” the “bubbled best from the best,” deserve to stand apart. Reminders keep your “to do” list prioritized until these actions are second nature. Reviewing them can also deliver inspirations to improve yourself and your business in many different ways.
Finally, before you go…
We realize that you jumped down to the bottom to cherry-pick the gold (how’s that for a mixed metaphor!). There’s lots of gold, though, or cherries if you prefer, in each and every expert’s answer.
Any one of them could give you a new idea, alert you to an approach you are not doing, and even challenge you to think through conflicting advice. For example, how do you reconcile these two nuggets, both valid…
“Good enough is good enough — don’t be a perfectionist.”
vs.
“STAND OUT. ‘Good enough’ is a compromise.”
Either of those, alone, could push you too far in the wrong direction. The first tries to conserve your time, while the latter makes the point that it’s “STAND OUT content” that gets noticed (website, blog, Facebook post, Pinterest, or Youtube).
The resolution depends on you, your niche and your audience. You can stand out without being a perfectionist. If perfectionism means perfect proofreading and grammar, not a comma out-of-place, borrow idea #4 of our Top 10:
“Get Help.”
Outsourcing tedious tasks frees you up to create outstanding content that doesn’t have to settle for “good enough.”
Bottom line? Read everyone’s full answers. Doing so:
- deepens your understanding of the Top 10.
- delivers new ideas, techniques, strategies, resources, etc.
- pushes your thinking to new levels by combining concepts, resolving apparent contradictions, etc.
You don’t have to stick around and read it all now, though. Take advantage of the following free offer. Get the full benefit of this truly “once-in-a-lifetime” eBook. You’ll have 1-to-1 “best practice” advice from 96 of the best in the field just a click away.
Do you love this collection of advice as much as we do? If so, please share it with your networks. You might also enjoy the slide deck and infographic below that feature the highlights from all of our experts.