Last updated on June 24th, 2021. Posted in Increasing Business Sales.
What do you think is the MOST important component of your online business? Sure, there are a lot of moving parts...but which part is the most critical for your online business? Your domain name -- your website address -- is definitely important...
Here are links and resources mentioned in today's video. Enjoy!
...but if you somehow lost ownership of it, you could recover. Same with your entire website -- it's definitely important...very important...but if you somehow lost it, you could rebuild.
Other than some kind of patented or proprietary technology or specialized knowledge or in-demand skill that you have...your online business's email list is the most important, most valuable asset and component of your online business. Why is it so valuable?
Because if you're running things right, your email list is your online business's most important sales and distribution channel. Sure, there are plenty of other channels -- resellers, partnerships, even channels like social media platforms...but you don't own and control any of these.
And in online business, you want to own and control as much as you can. And unfortunately, there really are only two things that you own online: You own your website (assuming of course that you've set it up right -- not using Shopify or SquareSpace) and you own your email list.
Everything else is just borrowed. We don't own our domain name, we rent it and have to renew it. We don't own our social media followers or even the ability to reach them with our content. And we don't own any other marketing, promotional, or business assets online.
Your website and your email list are it! Both your website and your email list can be downloaded to your computer to back them up, and you can move them to another service anytime you like.
And because email is the best way to keep in touch with your audience of subscribers -- that group of people who voluntarily gave you their email address and their permission to receive your content -- it's something to take very seriously.