Episode Details

"How do I really start my own online business?" This is a question I hear pretty often. Recently I found myself saying, "Well, it's pretty simple. You just need to…" and then I heard myself spewing out a long list of stuff that was anything but simple.

Clearly I needed a simpler, more cohesive answer to this question. That's what this episode is all about.

Announcements:

• If you enjoy the podcast, I would consider it a great favor if you subscribe (and leave a review) in iTunes. This helps new people discover the show. A big thanks to Ben Wally and Matt McWilliams for giving us a review on iTunes last week.
• I'm speaking at the Platform Conference in November. Register using this link, and as you check out enter the promo code RAY to save $100 on your ticket.

Tip Of The Week 

This week I'm recommending another book, Ryan Holiday's The Obstacle Is The Way. 

In life we are often frustrated by the obstacles we face. Throughout history, there has been a different way of viewing obstacles. A way that was familiar to John D. Rockefeller, Amelia Earhart, Ulysses S. Grant, and Steve Jobs. A belief that the obstacle is not in the way, but that it is the way.

The philosophy behind this belief was articulated by the Roman emperor Marcus Aurelius, who struggled to define the way of excellence in any circumstance. In this book, Holiday spells out in simple language that very philosophy.

"The impediment to action advances action. What stands in the way becomes the way." — Marcus Aurelius

Spiritual Foundations

What do you trust God with? Over the last few weeks, my life has been deeply impacted by an insight I received from my wife Lynn. In this section of the show, I explain the insight and how to put it to work in your own life.

Feature Segment: How To Really Build An Online Business

1. The Right Mindset. This is the crucial foundation you must build on if you want a sustainable business.
2. Something To Say Or Sell (Book & Speech). You must find your own Unique Wisdom Message, and distill that into a Signature Book, Signature Speech, and Signature Product Line.
3. "Platform" Website. These days we don't wait to be invited to the platform, we build our own.
4. Email List. Your most important asset is your email list, and the relationship you cultivate with those people.
5. Social Media System. It's crucial to find a way to market with Social Media without allowing it to consume your time.
6. Content. The currency of marketplace preeminence is the creation and distribution of valuable content that solves a problem people actually have.
7. Traffic. A store with no people in the door is a store that soon will be no more.
8. Conversion. You must convert browsers into buyers if you want to produce profits.
9. Cash Register. The simple but vital matter of how you will be paid.

In the audio, I explore each of these in depth, and provide the actual resources I use and recommend for each part of the system.

Here are links to the products and services I mentioned in this episode.

Content Creation and Other Training