How To Start Your Online Business – Time, Money & Opportunity Costs

Adventures In Digital Marketing Episode 60

If you’ve been struggling with getting off the ground, there may be a good reason for it. That’s what I’m talking about in today’s episode of Adventures in Digital Marketing


Hey welcome back everybody my name is Rob Orr. Today, I want to talk with you about something that I think is near and dear to everybody’s heart that is in this group. We’re going to be talking about how to get started with your online business.

Before we do that, if we’ve never met before My name is Rob or and I help creatives build and grow their business without having a big brand name and attract high quality clients, big budget clients and maximize the profits for their creative services businesses. Before I go too far, with anything else I would love if you are watching on the replay, or if you are watching live that would be really awesome. If you can hear me loud and clear just make sure to hit the heart or the wow button on Facebook there. Just want to make sure that you can hear me okay and everything is coming through all right.

All right, great. One last thing before we get started here, let me know where you’re watching from. If you’re watching this live, we’d love to hear where you’re actually watching this from. We get people in this group from all over the world, which I think is kind of cool. Hit me up in the comments and let me know where you’re watching from that would be awesome.

Fantastic. Again, if you’re watching on the replay, I come back and go through all these comments after I do these live broadcasts and want to make sure that you guys have all your questions answered. I will definitely be going back through the comments to make sure that all your questions are answered or any thoughts or anything like that is going on in there. What we want to talk about today is how to get started with your online business.

One of the things that you may remember when you first joined this group is I asked you a bunch of questions about what’s going on, where you’re at what you’re struggling with. There’s a recurring theme with a lot of the questions that I’m seeing about how to really get started. I want to talk about that a little bit today because I think there’s a little bit of misunderstanding sometimes about what’s involved when it comes to getting started. It’s really great.

We get excited about this idea of building an online business and then we start get these dreams of passive income is just flowing and it’s coming in and everything is going awesome and great. You don’t really think about all of the different steps that you’ve got to take to put in place in order to make that happen.

I wanted to talk a little bit about that. Because really, it kind of breaks down to a couple simple things that I think that are going to help you with your business that I’ve learned these lessons for my own business in a time of the years that I’ve spent doing this. One of the things that I want to touch on right off the bat is that there is an inverse correlation between going fast and doing it cheaper without any money.

Sometimes I think we get it in our head that because we are trying to go the DIY route, that somehow we’re going to be able to shorten that path or shorten the time involved that we’re going to spend to be able to get up to success and while we can definitely hit milestones and start making progress in our business. Two things that really don’t go together well when it comes to online business is fast and cheap or no cost.

The question that I got, how do I do this with do it quickly and with little to no cost? I’m like, “Hey, that’s great.” If I knew the answer to that question, I wouldn’t be in a totally different place because a lot of times, there’s really not a fast and a low/ no cost option. As I said before, I’m a web designer and developer.

I get requests a lot of times to do different projects. We do lots of custom web design and development work in my business and in my day gig as the director of web design and development for communications company here in town. This is seems to be something though that is not just isolated to creative services businesses. One thing I like to remind people of especially when it comes to trying to create and communicate value that it helps people understand the value for what we are doing and the services that we provide is to remind them.

I saw this picture in my father in law’s shop several years ago is we’ve got three kinds of service. You can get it fast. We can do great work. We can do things cheap. You get to pick any of those two of those things. Does that make sense? If you think about that, fast and good is not necessarily cheap.

Good and cheap is not necessarily going to be fast. These kinds of things are important to remember because I don’t want us kind of creating this false sense of hope that all of a sudden that once we start doing online business that all of a sudden is just going to come together for us. It just doesn’t really work like that. The thing is we’ve got to put in the time. We’ve got to put in the effort. We’ve got to work through our ideas.

Matter of fact, just to give you a little bit of background, a little bit of context. Right now, I’m working on a high ticket offer for creatives. I’ve got a new coaching program that I’m going to be putting together that leverages my years and experience working in the web design and development business, running design and development companies in trying to help creatives to take the next steps and start winning better clients, better projects, start being more profitable because one of the things kind of as a side note, one of the things that really hammers creative businesses is projects that are low budget and they get drawn out over a long period of time.

At the end of that, you end up being in a situation where you spent 60 days on a design and development project. The price quote that you quoted for it, it was really low. Then when you start to calculate out the hours that you’re spending on this project then you realize that you’re making less than minimum wage. You’re making 2, 3, 4 dollars an hour because you’ve got 160 or 200 hours in this project that’s been strung out over two or three months. That’s something that happens.

My whole thing is I’m working on helping creatives to build this business. I’ve built and designed and developed because of my own experiences, systems and processes and things to put in place to help with all those things. It’s taken a while to get to that point. It’s taken a while for me through trial and error to figure out, “Hey, this works. This doesn’t work. I know that the clients really do well with this. I know that clients really don’t do well with this.”

For me, I’m putting together this business and it’s taking time, I spent a lot of time working on building out what this program is going to be all about because it’s going to deliver an incredible amount of value. I’m going to be spending a lot of time with these people. It just takes time. So when it comes to this concept of getting started with your online business, you have to be willing to invest the time and the energy in the early days of your online business so that you can make the progress that you want to make.

We talked about at the beginning figuring out, if I can do it fast and cheap. So if you’re going to do it fast and cheap really the only way to do that is by working around the clock. What doesn’t cost you dollars when it comes to starting your business cost you time? What is your time worth when it comes to your life?

Are you okay with spending every night between 10pm and 2am working on your business or every morning between 3:30, 4 o’clock in the morning and 8am when you get to leave the house to go to work working on your business. That’s the point I’m trying to make. When it comes to this whole fast and cheap idea then you got to figure out what is the cost, what’s the opportunity cost for you to go the cheap route.

That’s why things like WordPress themes, pre-configured themes are so popular because if you’re going to hire us to design and create a custom theme for you, your pocket book has to be wide open. It’s going to cost you anywhere between $5,000 to $15,000 for us to do a custom build for you, but you can go and do something that is already been put together and then you will be able to spend maybe $200 on that but there’s a lot of DIY and elbow grease that goes into putting those kinds of things together.

That’s why those kinds of products— ClickFunnels is a great example. The whole idea behind ClickFunnels is to be able to accelerate the time by the use spin creating a funnel. It doesn’t solve your copywriting problems. It doesn’t solve your design problems. It doesn’t solve your product or your offer problems. ClickFunnels as a platform, yes it does have those templates and things like that, that are in it that you can just get in and run with.

That’s what a benefit is for it, but the point is really that you need to be making sure that you are moving forward. These kinds of things, you spend $100 a month or $300 a month or you’re spending your money on these things in order to accelerate the process to help you make the next steps online. That’s really what I wanted to kind of touch on today to help you understand the difference between fast and cheap because while you may not be spending lots of dollars on your project when it comes to getting started with your online business.

You do spend an enormous amount of time. There is a lot of ramp up time that’s involved with that. You want to build in all of the efficiencies that you can as you’re doing it.

I hope that makes sense, if that makes sense just hit me up in the comments, just say, “Hey that makes sense, Rob. I don’t understand I’ve got a question.” That’s fine, too because like I said, I’ll come back after this slide and make sure to answer anybody’s questions that’s got that. So two things that I wanted to talk about real quick. There is, if you’re not familiar with it, there is a program, it’s a challenge. It’s a 30 day challenge that is outstanding for helping you to put the basic pieces of your business together.

It’s called The One Funnel Away Challenge and I’ll post a link in the comments afterwards. You can click through to take a look at that. Basically, it’s a 30 day challenge where it is literally drinking from the fire hose. It’s deep on everything you need to know from a sales and product and funnel perspective for getting off the ground fast.

The objective of the challenge is that by the end of the 30 days, you have an up and running sales funnel, and you’re starting to make money. I’ve been through The One Funnel Away Challenge myself three times just because I want to make sure that, number one, I’m learning everything that I can, but also making connections with new people in those groups is outstanding. When I was doing it, Steve Larson was still doing the live coaching sessions. Those coaching sessions by themselves are worth the price of admission because Steve is outstanding when it comes to delivering value. I’ll put that in there. Then, one other thing is a couple books that I think would be really helpful to you. It’s Expert Secrets and .com Secrets.

I know that I’m talking a lot about Russell’s stuff here, but these are things that I think are fundamental, whether you’re a blogger, whether you had a brick and mortar business, you got a services business, or you’ve got any kind of business really doesn’t matter. These things, if you’re going to be doing business online are foundational. It’s like website digital marketing 101 kinds of things that you want to really understand these.

When it does come time to work with a developer, to build something custom for yourself that you got really, really solid groundwork underneath you that when you come to us and we’re talking about building out your project, we know where we’re going. We’ve got lots of good data to work with in terms of how that’s going to inform the design that we create and those kinds of things.

When we got that those are always the best sites that we do is when we’ve got lots of information to work from, that we’ve got user reviews and we’ve got really clear paths about where we want to go and what we want to do. Man, those projects turn out well and we win awards for them. It’s freaking outstanding.

So I want you to check out those resources. Like I said, if you got any questions, or if you need any help with anything, that’s what the Digital Marketing Mastery group is all about. Make sure to leave me a note in the comments. Just tag me in there. Let me know what’s going on.

Hopefully that helps you with just a little bit of perspective about what’s going on and how to take the next steps if you’re just getting started. These are foundational things that you can use to start making some progress in your business because right now people are losing their jobs. People that are in really kind of scary situations.

You need to be thinking about new ways either by force or by desire. We all need to be thinking about new ways to start generating income for our families. This stuff that we’re talking about in here is absolutely foundational for that. I think it’s going to go a long way to help you out. One other thing that I want to let you know about, I’m starting to book some interviews for the group.

We’re going to start doing some Facebook Live interviews here in the Digital Marketing Mastery group. I’ve already got a handful of people lined up. Some of these names, if you spend any time in some of the circles that I run in on Facebook, some of these names are going to be very familiar. I’m really excited about doing this.

I hope you guys will make sure to keep an eye out for that. That’s all I’ve got for today, guys. Keep an eye out for the upcoming interviews. You guys take care. Have a great weekend and we will talk to you again soon. Take care. Bye

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