Best Online Business To Start BEFORE 2024 ENDS.

Summary

In this video, Isan Sharma shares a step-by-step guide on how to build a successful service-based agency before the end of 2024. He emphasizes focusing on high-demand services, hiring a remote team, and building a portfolio with case studies. The key to success lies in selling services to companies in the US, where budgets are larger, while operating from lower-cost countries. Isan explains how to generate recurring revenue, scale through networking, and use sales funnels to attract clients. With a focus on over-delivery and building goodwill, you can achieve financial freedom by selling services online.

Takeaways

• 😀 Focus on selling services, not products, to build a successful online business. The real money in business is made through B2B services.
• 😀 Choose a specific niche and focus on that. Trying to do everything at once will make you compete with giants and dilute your efforts.
• 😀 Build a remote, lean team to help execute services. You can hire experts from around the world who specialize in the services you're offering.
• 😀 Start by offering your services at a discounted rate to build case studies and testimonials. These will be essential for gaining trust from future clients.
• 😀 Use cold outreach (emails, DMs, networking) to find potential clients. Learn how to craft compelling messages that capture their attention.
• 😀 Over-deliver value to clients, especially in the beginning. Focus on building strong relationships and reputation, rather than immediate profit.
• 😀 Create recurring subscription models to stabilize revenue. For example, offer monthly packages for services like content creation or digital marketing.
• 😀 Take advantage of the price disparity between countries. Earn in USD by selling to Western clients while living in countries with lower living costs.
• 😀 Learn how to effectively manage your time and tasks with tools like Zoho Workplace, which help streamline communication and collaboration.
• 😀 Build a sales funnel that consistently generates leads. Focus on understanding your target market, whether it's startups or established businesses.
• 😀 Travel and scale your business globally. With remote work, you can build your agency while exploring different parts of the world, expanding your client base and networks.

Q & A

What is the main business model discussed in the video?

The video focuses on starting an online service-based business, specifically building a service agency that sells marketing, branding, and other business services to companies, primarily in the West, to earn in US dollars while living in lower-cost countries like India.

Why does the speaker recommend selling services instead of products?

The speaker emphasizes that selling services, particularly in the B2B (business-to-business) sector, is more lucrative than creating and selling products. Many companies need services like marketing, data analytics, or AI integration, and they are willing to pay high premiums for these solutions.

What is the first step in starting a service-based agency?

The first step is to choose a niche. The speaker advises focusing on one service that people are actively buying, such as newsletter management, ad optimization, or social media marketing. Focusing on one service allows you to master it and target a specific market more effectively.

How should someone build a team for their agency?

The speaker suggests hiring people with the necessary skills to execute the services you're selling. You don't need full-time employees at the beginning; instead, you can work with freelancers or contractors. You can find these people through your network or platforms like Luma or through local networking events.

What is the importance of creating testimonials and case studies?

Creating testimonials and case studies is crucial for building trust with potential clients. The speaker recommends offering your services at a discounted rate to create real-life examples of your work, which can be showcased on your website or in presentations to prove your ability to deliver results.

What strategies are recommended for generating leads and sales?

The speaker highlights the importance of cold outreach through email and LinkedIn DMs. He recommends using tools like Apollo and Instantly for cold emailing, as well as attending networking events to meet potential clients in person. The key is crafting a compelling message that captures attention and sparks curiosity.

How can you differentiate yourself in a competitive market?

To stand out in a competitive market, the speaker advises focusing on specific niches where you can provide a high level of expertise. By mastering a particular area (e.g., YouTube growth, email marketing), you can attract clients who need specialized services and avoid competing directly with large agencies offering broad services.

What is the significance of a subscription model for agency services?

A subscription model is important because it creates recurring revenue. The speaker uses the example of offering monthly services like video production or social media management. This approach leads to long-term client relationships and stable income, with the potential for significant annual revenue from a single client.

What is the role of over-delivering in building a service business?

Over-delivering is key to building a strong reputation and generating word-of-mouth referrals. By exceeding client expectations, you can create goodwill that will lead to repeat business, higher client retention, and more referrals, which are critical for the growth of your service business.

How does the speaker balance living in India with running a service-based agency targeting Western clients?

The speaker explains that by working with clients in the West, particularly in the US, they earn in US dollars while living in India, where the cost of living is lower. This allows them to maintain a high standard of living in India while enjoying the financial benefits of working with higher-paying Western clients.