Over the past few weeks, ‘s YouTube channel has posted a new video series called Jornada MASTERS. In it, we compile the best tips and teachings that we learned in the last edition of Masters.
If you don’t know what it is , we tell you. It is our global event, online and 100% free, with talks and conferences from the big names in the digital market.
And giving continuity to this series, we brought Miquel Baixas, founder and director of the New Business School who told us about the secrets to structuring a digital business.
Get a clear understanding of the structure of a successful digital business, what steps are necessary to build it, and tips for starting new projects! To do this, watch the video! Or if you prefer to quietly read this conversation, just scroll down.
Martha Hello! I’m Marta, from the Marketing team and this is the tenth episode of the Masters Day!
Today I want to show you what I learned from Miquel Baixas, strategic mentor, entrepreneur and investor as well as founder and director of the Escuela Nuevos Negocios.
He taught us how to be clear about the growth stages of a digital business and also his methodology to start a new successful project.
Get to know the advice of Miquel Baixas!
What is a business about?
Javier Elices Okay let’s get started and the first thing I want to do, I’m going to share here through this iPad, some drawings, the first thing I want to do is let’s look at all the different elements that a .
Because there is a kind of deception that exists in this sector, that many times emphasis is placed on the marketing part, on the sales part. But a digital business, if you want it to really work for you and give you that freedom that, well, that in the end we all seek, right?
- To be able to work where we want, with whom we want.
- Of being able to really develop our purpose, to help a community.
- To also be able to have a lifestyle, have the income we want and more.
Because the interesting thing about digital business is that, well, at the beginning people make an effort to get, let’s say, a salary, etc., but later that is scalable. You can grow much more and you can multiply by 2, by 3, by 5, by 10 what the normal income is in an offline business. So, to achieve all this, marketing and advertising alone do not help us.
If we only do marketing and advertising and learn only marketing and advertising strategies, we will have a part of the business. Advertising, marketing, sales is an area, but there are more things, we are going to see how we build a real business, a solid business, that takes into account everything that there is in a business.
Look, first the basis of a business is not marketing or advertising, it is, let’s say, the organization.
Organization
The they are the people who are forming that team, they are the processes, in the end it is those people who, well, first of all it is you, then an assistant, a person who helps you and in the end it is the processes, how they work, all the schemes that they make that organization work and that is the base, it is the fundamentals. If you don’t have professional knowledge, if you don’t have an activity that can offer value to others, you don’t have that minimum organization.
Professionals
We need to be professionals and bring other professionals together. But this is obviously not enough for an organization.
Finance
Then it also moves through finances, be it dollars or euros, there is a whole part of finances that is the flow of money and that flow of all these movements, well we have to control them, because in the end it has to generate profits and we have the expenses, we have the income, we have different costs. We need metrics, control systems, payment systems, and all of this is a fundamental part of a business.
And they don’t have, look, these two parts have nothing to do with marketing or sales, right? But that is not all. Obviously, that organization, those finances, have to also have, well, what the products would be, okay?
Products
The products that we are offering, the delivery of value, I am going to do it as well as some little gifts. The delivery of value, that we have in our business, that when someone promises you, we make a promise, we have to have a process, we have to have someone who helps these people, some processes so that promise is fulfilled, right? And these products are absolutely necessary.
But obviously, just with organization, finances and products we don’t have a business either. What do we need? Well, we need a sale.
Sales
We need a moment in which the person can decide that yes, they want our product, and we have to overcome that resistance, because in the end there is a transaction, they have to give us the money and that is not easy and we have to have, therefore , sales processes to make all this work, right? But again, that is not enough.
What do we need too? Well, having that part of marketing, that part of marketing, let’s say, that relationship of trust that we have to generate with people, so that, well, what we are offering them, well, they really connect, so that they see that we are there to help them. , they can understand what we are offering, etc., right?
And that is a process, too, through different systems, which can be done, or should be done. And then finally we need some system to make ourselves known, some system and I’ll call it publicity, okay? But, it is not the traditional description of advertising, such as payment systems.
That can be an advertisement that you do through networking, through content, through Affiliates, anything that allows you to generate that first connection, that allows that person to see you for the first time, see your product, see your system and you can.
Therefore, from this first contact, move on to marketing, then move on to sales later, when that trust has been generated, in order to be able, after the yes, to deliver the value in order to generate an economic flow that nourishes you and the organization and the team, right? In the end, a real business has to have these parts.
If not, if this is like a string at the end, ok? And if you have a chain and there is a piece in the chain, well, it is fragile, it is not completely united, even though the rest of the chain is very strong, well, where will that chain break? Well, that chain is obviously going to break at this point, this point here, it’s the weak point, it’s the weak point of our chain.
Martha
We have learned, then, what are the stages of a digital business.
The base is the organization, that is, the people and the processes, which are essential for the success of your venture.
Next come the finances, which require very well-established control to maintain the financial health of the business and make it prosper.
And then, the products or the delivery of value would come, which is what you are going to offer the consumer.
Then we have the sale, which addresses the processes to overcome the public’s resistance when delivering your value proposition.
We also have marketing, which is what generates the value of your offer and conquers the public.
And finally, Miquel explains the Advertising process, which would be people’s first contact with your business.
All these stages must act as a chain when it comes to running your business and, therefore, they must be solid.
The stages of a business
Javier Elices Us in the “School of New Businesses”, for example, we have a test that analyze these 6 areas and 2 more areas, satisfaction and the results and you says exactly what they are the weak points correct critical points what are the opportunities you have
And in the end this test does like some kind of roll and make you a drawing exactly, where is your business, and when you see this wheel you see exactly what you have what to change and marks you exactly what are the points, right? Cast this is very important to do it because it is to have like an x-ray your business. We work that at school in .
There you will find this test to be able to do it or if you sign up, ask to support, then you will provide information for be able to understand where it is failing your business Y this is a first very important part. I hope that gives you clarity of, well, well what are the different parts, start thinking what is the part more fragile, weaker of this map, in your case
Very ok, but that it is not all. Need also understand how it evolves a business.
climbing
Notice that a business goes through a series of processes. go figure that you want to go, for you to understand I’m going to you share, what do you want to upload to Everest, ok, you want to go to that top of Everest, there where are the snows and there is a lot of cold and you have to climb, right?
So when you’re climbing on that top at that final point, well you will need some equipment, you will need tools, in feet, you need something for don’t slip on it ice stuff that are stuck in the snow, hats, lights, a series of things for protect you on that top, right? in such a place tall.
What’s going on? If you want to go to Everest you don’t go to leave your house dressed in everything that and you will start walk, right? That is in the end stage. What happens? There is a series of stages and you Are you going out from your house, well the same taking your car, going to an airport, then you will catch the plane, it is different, right? Go car, you have to drive.
On a plane, you need a ticket. When you get off the plane the same you take a jeep, you go to base camp, then you go walking, until end you have that stage, where are you going, then, climbing the mountain.
Each of these stages in business the same thing happens, they require tools, skills, attitudes even absolutely different.
By example, when you start a business, what do you have to do? when you start a business first the first thing you have what to do yes or yes, and all the business starts there, It’s a first sale without that first sale, no there is business.
Y do that may seem very very simple, we we call the phase activation, oysters, a simple sale, but actually it’s a great trail to do that first sale, have passed many things before that first sale.
you have had to define who are you going, which one is the promise What do you do, you had to overcome a lot of obstacles internal, emotional, the syndrome of impostor, a lot of things, right? And to make that first sale strategies are needed are suitable for that purpose.
You don’t need maybe one website, lots of social media, advertising you need none of that. You need something that takes you directly to that first sale effectively. that it you can do in a few weeks, do the first online sales, in reality in a week in days you could get it if you go straight to it’s.
And most of people, when do you start internet business not they focus on…
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