Taking Your Business Online – Surviving in the Changed Ecosystem
Channel: Mansoor Danish
File Size: 14.76MB
Episode Transcript ©
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Salam Alaikum I'm such yawn, I'm working as a lecturer in international Open University.
I'll say today's webinar is more of a small workshop rather than our webinar. And the topic of discussion is taking your business online and focusing on surviving in the change ecosystem. Let's get started. Let's start with business model canvas. As we're talking about taking your business online, I hope that you are you don't have a product ready or any service ready. So this tool will be useful for you. What is Business Model Canvas, it's a very simple way of mapping out an idea to understand it in a better way to test it, and to improve it. This tool includes nine boxes in one page. And it shows how all the parts of the business working together for success.
Who can use it from large organization to NGO, even for personal branding, you can utilize it and how to fill it, you can get the details in this link I shared in the slide. But I'll show you a sample.
This is a sample Canvas. So here you put your key partners, key activities, your proposed key resources, your value proposition, customer relationship, shapes, channels, you want to use customer segment your targeting your cost structure, and your revenue streams. So it will show how all of these parties working together for your business success.
Next step is testing you're testing your product or idea get validation from the experts from
experts of your target market. And if there is scope to improve it, then you do it.
For say still you don't have any, any product in your mind or any
service in your mind. We can figure out your big idea by three step processes. The first step is to find out your core strength. Or this is about your internal aspect. How to do that you can list down by asking few questions yourself. First one
what do you love doing? Answer can be cooking, gardening, graphic designing, you can list those down. Next you ask yourself if your friends or family or anyone asked you for any advice, what would they ask? What question do you get from them? What type of advice people take from you? It can be cooking tips, traveling tips, anything.
Next question you ask yourself what are you naturally good at? You can be good good at writing or networking, new business ideas strategic planning convincing people.
Next you can ask yourself what unique experience you have which can help people for someone change their career from one extreme to another extreme so that person can help people with their unique journey everyone has unique journey which can be helpful for others find out that
next question you ask yourself what I am knowledgeable about this might not be your interest area, but it can be your strength. If there is one or two you can add those in your list as well.
We hold that nothing is
coming your head still if nothing of this applicable put your passion in the list, whatever excites you. So now
can you see a pattern in this list anything coming repeatedly? Can you cluster them? Then what is it?
Then comes the next step?
consider your inner ideas and match with what market wants, it can be anything it can be related to health, it can be related to entertainment, it can be something related to technology or personal development. Here I list down
some of the biggest revenue drivers in the market. So you can match with your strength or your inner aspect with these revenue drivers of current market.
Next question comes then, okay, I match but what do I sell online? What is my product, how I'm going to sell online
if you don't have a product, ask yourself how can I enhance people lives
you can find one or two things and you can work on that.
Here I would like to mention about e commerce platform if you have a tangible product you can sell it to
any any place or any country any region using their e commerce platform.
And this is a whole related topics which can be discussed here, but it's not possible to discuss everything in a short webinar. We have related courses in IU in our business administration department.
Okay, now for say your product is not something tangible,
which can be sold in an E commerce platform available in your
country or wherever you're staying. You're trying to provide a service or an information product then you have to go to the next step
which is sales finance and how does it look like
it will start with your first layer we start with your blog or websites templates. Next layer will include eBooks are member only content next one online workshop and the last one is you working as a coach
fast layer will be free and people can then can help themselves they can read it by themselves and it will be free
for ebook or member only content you can charge a bit of
money and that can be your source of revenue and online worship you can increase your church and
when you're working as a coach you can increase it more
here I like to mention you can go to ehow.com If you still looking for ideas, if you're still not sure about your product, you can go there and see there are so many ideas so many
ideas about different products or services you can go there and
how and get your be sure about your product what you want to sell what service you want to provide.
Okay, now, you have your
big why you already figured out your sales funnels, then comes promotion. The promotion is a
full sub course, we teach in our UU in Business Administration Department. It's not possible to give the whole course here
but I can say that if you know all the options available there are so many ways there are so many ways to promote
so many ways to market your product or service if you know them all. You know all the channels how to do it. Then you can choose by yourself depending on your situation depending on your need or depending on your environment.
I can talk about the difference between marketing and publication here a bit.
Marketing is short term. It will influence people increase your sales get new customers, while public relation is long term
It will build brand image it is to work on conversation communication. And it is for long term relationship. You can know more about these
differences and ways in our marketing courses. But here I share some tips in short.
So, you have your product, you already
know which things you will give free and which things
you will charge people.
Now, you have to promote it, you have to be clear about your brand story you're using digital platform. So, you should have you should be dedicated writer or storyteller, you should have a clear brand story to grab your audience.
And you have to be sure about your audience who are your who are the people you're targeting, because if you target young audience, young people, you cannot use channel like television because if you see Delhi television is watched by matches people nowadays, even in social if firstly you're picking young generation and you're using social media it will see is not all all the young people using Facebook, some of them are into Instagram and some of them into YouTube. So you have to decide which channel to pick dependent depending on your product and depending on your customer.
Here comes influencer strategy.
When you are logged down, you'll see everyone is trying to sell something everyone is trying to influence people these days, influencer strategy working
like nothing else. So we have to know more about influencer strategy, then I'll say you should have own platform like own blog, when own website which will work as your home, everything should redirect to your central platform, otherwise everything will be scattered.
And from your own platform, you can get email lists, you can get subscribers who will subscribe to your offer, your newsletter or your deal. And why email because email it say that email is 40 times more effective than other ways the reach is nearer to 80%. So if you send email 200 people, around 80 People will open
open the email. So the reach is very high. You can get email list from there. Here I'll talk about a bit, talk a bit about search engine optimization, not everyone will go to your website or blog directly, they'll search about
the product or service. So your website or your blog should come in the result of those searches. So for that you have to make your platform of the search engine optimized, you have to know about it. Then comes affiliate marketing. For say you have this you have a travel blog, so you're talking about some trip there you can affiliate with service provider like booking.com or google.com We're giving booking services to hotel and transportations. So if you so you can affiliate with them and you can
give like have a back link. So that so that your your your readers or your viewers can click there and go to booking.com or google.com and book their
trip or hotel and from there you can earn revenue from affiliate marketing. So this will be another source of income.
This brings us to the end of the session. I already say that it is not possible to share everything about it. But I try to give a summary. I talked about how to if you're not sure about your product, you can start How can you ask yourself questions and get a I get an idea
While your product or service you want to work on then
which which which layer of your product or service should be charged to which you can give it for free and then how to promote it I share some tips about promotion. If you have any question related to you or our department or today's session, you can ask now