The digital economy is a new norm. But most people still do not realize that and do not take advantage of this enormous opportunity to build a life full of freedom. We can achieve our goals faster and with fewer efforts thanks to AI, software, and bots.
Relying on one source of income, especially from a job, is too risky in the current economy. You don’t have to quit your job today, but you can build your online business as a side hustle or freelancer.
Nothing will happen overnight, but if you are persistent, you can change your life in months. Even if it takes years is so worth it.
Here are five new rules for becoming successful in a digital world.
1. Scale yourself
To be successful in the long run, you must find a way to move from earning 33% of the day (9 to 5) to earning 100% of the day. This means you need to find a way to make money while asleep.
This is where software and media that works for you while you sleep comes in.
To do this, you must find a way to get your ideas out there. You can write articles, create videos or podcasts, or create software that helps you reach your target audience. Once you’ve made these things, you must put them out there into the world so people can see them and learn more about them.
Once people have discovered your work, they must return to it. This means promoting your work through social media channels like Facebook, Twitter, and LinkedIn, as well as through word-of-mouth marketing techniques like blog commenting and sharing on forums. Finally, monetizing your work as best as possible is essential to sustain it over time.
2. Build a toolset that allows you to thrive
There’s never been a better time to be an online entrepreneur! With many open internet tools, you can build your entire tech stack on sites like Gumroad or Payhip. This way, you don’t have to worry about any of the technicalities of website design or coding — everything is already done for you. Plus, it eliminates the need for you to spend money on unnecessary software or hardware.
You must find your niche, generate traffic, and sell your products or services. You can also create landing pages designed to capture people’s attention and send automated email sequences that engage them and convert them into customers.
Finally, ensure you create content regularly so your customers can understand who you are and what you stand for. This is an effective way to build a thriving business that will last for years!
3. Diversify yourself
Diversifying your income is one of the best ways to protect yourself from financial problems. By having multiple sources of income, you’re less likely to be affected by any one event or situation. This means you can survive difficult times and maintain a comfortable living standard.
Diversify the way you earn:
- Coaching
- Courses
- Community
- Subscriptions
- Sponsors
- SaaS
4. Increase yourself
Front-loading your effort to build products that pay you recurringly is one of the best ways to increase your income. This means you spend more time making the product than it takes to sell it once it’s finished.
This approach has several benefits:
- You get paid sooner. With each purchase, the hours you spent building equaled a higher hourly rate.
- You can scale up quickly and easily. Once you have a working product, you need more customers to generate more income.
- It’s sustainable over time. The more hours you put into your product, the more money you’ll make in the long run.
5. Replicate yourself
Creating an online business means taking advantage of global E-commerce, which is wild. The assets you make are available all over the world, 24 hours a day, to that 4.95 billion internet-connected people. This is a huge opportunity because it opens up a world of potential customers for your business.
This is a massive advantage because it allows you to reach a far larger audience than you would otherwise be able to. Plus, since your products are available worldwide, you can be sure they’ll always be in high demand.
To start your online business, you first need to create assets — like a website, blog, or e-store — that will house your products and content. You must ensure that these assets are up-to-date and well-designed to look appealing and professional. After this, it’s just a matter of getting yourself online and selling your products!
Create online content on platforms like Medium, Substack, Blogger, WordPress, Revue, or your blog. More about the best platforms for making money by writing online here.
Do you know any new rules for becoming successful in a digital world?
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