If you maintain any kind of web presence, be it through running a blog, posting on social media, etc, you could be missing out on an opportunity to earn some good money running a lifestyle business.
You probably already know this, but one of the best ways to be your own boss is to sell stuff online.
It doesn’t matter if you’re a shopaholic or a high-brow minimalist, earning money from shopping online is a great way to get a foot in the door in the digital space.
How to market your lifestyle business
Create a lifestyle brand…
Do you have an interesting job? If not, then why not create a lifestyle business? All it would need is sincere efforts and the courage to make firm business decisions. Yes, entrepreneurs often need to take several Types of business decisions like Operational decisions with known parameters, Operational decisions with unknown parameters, Simple strategic decisions, and Complex strategic decisions. You should know that reaching a decision is a crucial part of running a business. So, if you are serious about your new business idea, do consider learning more about the different types of decisions that you might have to make for the welfare of company.
Anyway, we asked Michelle Marculescu, an entrepreneur, speaker, author and coach, for more advice regarding this, and guess what– we got some clarity now.
What’s your business advice for other entrepreneurs?
Have a clear vision of what your lifestyle brand will look like and start building it from day one. Create an authentic voice that is authentic to who you are and do not compromise for anything. Do not start out with an idea, write it down, and then make changes. Start with what you believe and what you know. Develop a platform of content that is fun, engaging, and reflective of who you are as an individual and in business. My platform is ‘Michelle the Agent’. Get into what your target market wants and how they want to consume it and create your ideal customer persona based on them.
Figure out how would you operate your brand, what could be solutions you would require for managing your day-to-day activities, and who would you outsource or partner with if facing a roadblock. Getting answers to such questions prior can solve the majority of your hassles in the future. These days, most businesses of all sizes are tending to adapt themselves to systems such as ERP. It encompasses a wide range of business processes –including financials. Most brands with the help of an ERP consultant are trying to increase their efficiency, services, and their insights. So, outsourcing such consultants might never be a bad idea after all!
How do you create your brand?
Using the years I spent in the entertainment business as a consultant and brand ambassador I developed relationships with key influencers within the business, in media and entertainment. These relationships have given me access to the right people at the right time to start the brand from day one.
Before you do any marketing, first have a clear understanding of your niche and target audience. Based on your research, create a great logo that tells a great story and lets the consumer know what type of lifestyle it is and what it will do for them. Your branding should reflect the unique benefits of your lifestyle brand.
Reputation management is also a key part of marketing a lifestyle brand. You need to ensure that your brand is being positively represented across all digital channels and that any negative feedback is quickly and appropriately addressed. If required, consider hiring an online reputation management services provider who can effectively manage your online reputation. You can also set up an in-house team solely for this purpose.
How much does it cost to create a lifestyle brand?
All of it! Create a lifestyle brand is not for everyone. Creating a lifestyle brand needs a lot of patience, strategic planning and getting a clear picture of your target audience and value proposition. It is a lifestyle business that people are spending time and money on every day.
Here’s the thing though: a lifestyle business doesn’t have to cost anything at all, or rather it doesn’t have to cost anything more than what you’re already spending as an everyday part of your normal life. Lifestyle businesses should ideally be built around existing mechanisms of what you do in your daily life, like how catering software can be used to monetise a foodie’s pursuits around their passion for food, cooking, etc.
If you look long and hard enough, you’ll find many natural fits for monetisation channels which can be integrated into the content you generate around your daily routine.
