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Time to Reinvent Your Online Business

The only thing constant about entrepreneurship is change. If you’re not one for change, prefer the status quo and like to keep things “as is” for was long as possible, then being the CEO of your own business is probably not for you. Nothing will kill your online business faster than stagnation.

Keeping your business current is the name of the game. Although this doesn’t mean “chasing rabbits” or having ‘bright shiny object syndrome”. Nor does it mean dumping your core values.

A current business means your market + your products + your marketing + YOU = are in tune, fresh and relevant in your niche!

Unfortunately, even the most well-intentioned entrepreneurs can let things get stale. Reinventing doesn’t mean starting from scratch. It means updating, refreshing and sometimes retooling.

So how do you know if your business is ready to be reinvented? Here are 7 business and personal signs that tell you it’s time!

7 Signs It’s Time to Reinvent Your Online Business

1. You’re doing things exactly the same way you did a six-months, a year, two years ago or more. Things happen fast on the Internet. (That’s one of the things I love about it the most.) Everyday brings a new tool, technology, strategy, opportunity. Your customers change. The market changes. If you’re doing business in exactly the same manner you were 6 months ago, your business is losing ground. What’s one new thing you’ve implemented in your business this month?

2. What your customers want to buy from you has changed, but your offerings haven’t. Can you imagine going to your favorite store week-after-week and seeing the same products displayed the same way? It wouldn’t take long for you to say “What’s the point of coming here anymore, everything is always the same?” What new things are you offering your customers? Are you continually bringing exciting products into your business? It doesn’t matter what you sell – whether it’s physical products, affiliate products or digital products – you have to continually introduce new products into the marketplace in order to keep up with what people are buying now.

3. Your business model isn’t a viable business model. I’m a firm believer that you can’t be successful in your online business without a passion, purpose or interest. But that doesn’t mean “do what you love and the money will follow”. If you love goats and want to build a business selling goat products but there isn’t a big enough market for goat products – you don’t have a viable business model. If you want to build a business selling common craft project instructions that are widely available for free on the internet, it’s going to be a tough-go. And many times your business model and your numbers don’t add up. I had a client who wanted to design, sew and sell her own clothes online. She also wanted to make a consistent $10,000 a month in her first year with no additional staff. We ran the numbers – she wouldn’t have had enough hours in the week to turn out the inventory required to make that kind of money on her own. Even with staff, she would have been working for free. Passion, interest and optimism are core when running your own business. But a viable business model is a requirement.

4. Sales are lagging. If your sales are not what they used to be, something has changed. And before things get any worse, you need to find out what the problem is and figure out a way to solve it by reinventing what your business offers. If you sell physical products, the first place to start is by looking at your product line. What new products have you brought into your product line recently? If the answer is none, it’s time to restock. If you’re marketing affiliate products and your sales have dropped, what’s changed? How’s your traffic, what’s the demand for the product your marketing, did you get slapped by Google? If you’re business is not growing, it’s dying. But don’t let it get to that point before you refresh and reinvent it.

5. Your niche is declining or has changed. Every niche market ebbs and flows, morphs and changes. This is why it’s so important to stay on top of the trends in your industry. Trends are about people – your customers. Lifestyle changes, demographics, the economy, marketplace changes all dictate the trends in your niche. What about your niche? What’s really going on in it today? Is it growing, changing or declining? How has it changed? Where does your business fit in?

6. You haven’t grown as a person and neither has your business. The person you are when you make your first $1 on the Internet is not the same person you’ll be when you make your first $10,000 or $100,000 or $1,000,000,000.”

In fact, it’s impossible for you to remain the same and make more money. If you’re not growing as a person, neither is your business. That’s why if you haven’t made your first $1000 yet, you shouldn’t be worried about how you are going to make your million. You’ll grow and change along the way and as you grow, so does ability to make money.

7. You’ve lost passion/interest in your business. This one is tricky. Because there is a fine line between temporary boredom or frustration in your business and a true loss of passion/interest. And of course there are a whole slew of emotional reasons why we may think we’ve lost passion in our business, but we haven’t. Things like fear of failure, fear of success, wanting to “have fun” and not work, reluctance to adhere to a schedule, perfectionism, you name it.

But don’t kid yourself. You know in your gut if you’ve truly lost passion/interest in the business you’ve been running. And if you have, the time to sell it or reinvent it is now. Don’t wait for it to die on the vine so that you have an “excuse” to shut things down. I see this happen all the time. Instead of taking a stance of power and saying “I’m ready to move on.” and then sell the business or reinvent it while it’s still profitable, they wait till it’s on life support to make changes. It’s a lot easier to sell or reinvent a business when it’s on top.

Business Success Values – 4 Secrets to Guard Your Priorities

Business success values are generally determined by the successful results of working smart, insightful strategies and systems, and common sense. All in efforts to deter business failure. Business failure happens to about 95% in the first year of those starting a small business. While business growth declines, business achievement seems an impossibility, and thinking successful business ownership is just for those investing thousands of dollars, the young, struggling Entrepreneur can be encouraged to know that he or she can build a successful, financial enterprise…without thousands of dollars!

Although financial investments are priority to any business adventure, there is more to business success than mere financial gain, if you want repeating customers. Keeping your priorities in check is not as easy as people make it sound. However, whether starting your own business or partnered with someone for a business startup, guarding your priorities, with successful results, happen when business success values are strengthen through Self-Mastery, Taking Action, and building Positive Relationships. When these strengths are cultivated and priorities stay aligned with your goals, you will be able to utilize these four secrets to guard your priorities.

1. Value of Throwing Off Discouragement

You most likely know of people who are marketing Online in an Internet business, offers business advice or strategies, or owns several business companies. It can be very discouraging to a business owner and Entrepreneur to see how all the federal administration changes are affecting the structure and finality of small businesses and their marketing success..not to mention the financial “bottom line.” Discouragement is cousin to apathy and mediocrity, which can both lead you to fear what lies ahead for you and your business. Once you determine your fear, business success values can help you throw off your discouragement. What do you fear most?

2. Value of Mastering Fear

What you fear most is not the end of the world, my friend. There is still hope for you in this changing world and economy. No need to worry about the success results of marketing and marketing value. The value lies in conquering your fears. Mastering your fears is a secret that many fail to discover and cultivate. Although you may have heard that fear is False Evidence Appearing Real, which has its merit, fear is mainly about mindset and perspective. Once you have master your fear, you can overcome procrastination. What are some fears that keep you procrastinating from what you know you need to do?

3. Value of Overcoming Procrastination

Business success values can not strive in the arena of procrastination. Business success, business achievement, whatever you choose to call it, can not flourish if you keep procrastinating the importance of business ownership, let alone…your life! When it pertains to business success values and priorities, procrastination is easy to do. Especially, when you do not know your “why,” don not have a mission, or do not have a specific action plan for your business. Like “cousin” discouragement to “apathy,” procrastination is the offspring of fear. Priorities take a back seat when procrastination is driving. Once you can overcome procrastination, your business success values will help you to draw freely upon your imagination. Financially speaking, where do you imagine you will be 5 years from now?

4. Value of Drawing Freely Upon Your Imagination

Drawing freely upon my imagination is something I call a privilege, a gratitude for self-perspective and self-influence. I am thankful God has granted me an imagination. No one else can control this aspect of my thoughts. I own them. When you imagine yourself being successful, you make what you imagine, happen. Imagination is a powerful experience of the human mind that can help determine successful results with priorities and business success values. The secret of drawing freely upon your imagination takes time to master and is a process.

As children, imagination was an intricate part of our daily lives. We allowed “grown-ups” to convince that we could not do this or that. When we grew up, we still believed what we were taught. I say, get back to your imagination! Dream, dream, and dream some more! Drawing freely upon your imagination will help you throw off your discouragement, master your fears, overcome procrastination, and help you prioritize business success values.

Do not be discouraged when you experience fear. Fear is a natural process of life. Yet, do not let it “rule” over you and/or control you. Be Master over it! I personally have found this to be the most challenging in my own life until I realized I have control over my own thoughts and fears. I now can live a life of business success values that have giving me the secrets to guard my priorities. If you need help with this in your own life and business, ask for help. I can help you with your business success values where you will create your own success story!

Robert {Bryan} Anthony is a rising online marketer and life coach providing relevant solutions using top Online Internet marketing techniques and an honest Online Marketing Training System to teach anyone how to sell anything, to anyone one, anywhere around the world through the power of the internet. He mentors home business owners and network marketers to encourage them to create their own success story.