Automating a product business is much easier to do than a service business. Unless you are delivering a physical product, you can have a product-based business up and running in a few hours. Yes, your site won't be ultra bling bling, but it can sell something.
Build your business in an hour
Yes, you can build a business in less than an hour. It's really easy actually. However, because this is more about how to automate your business, I am going to be less verbose on this. Basically you can have a new business by doing the following:
- Sign up for some kind of hosting service. I use Bluehost.
- Most services have a 1-click installer for WordPress, use it.
- Install a free theme, or a paid theme from a place like Woothemes.
- Sign up for e-Junkie or Foxycart.
- Create a post using the code they give you for your product that you want to sell.
That's it. Of course, you'd probably want to spend a little more time on it, but it is seriously super easy. If you want an in-depth way to sell ebooks, I highly recommend Pat Flynn's site Smart Passive Income. He has an ebook that is all about how to write and create ebooks. I give it to my virtual assistants to use as a resource.
You are going to get a lot of questions. This is a perfect thing to delegate to a VA. However, I suggest that you answer the majority of questions first and build a FAQ that your VAs can use as reference, or to direct a customer to. You can have your VA manage product returns, build SOPs and FAQs based off of the questions received, and even track feature requests that will help you to improve your product.
Tracking and analysing metrics
Teaching your VAs how to implement, monitor, and improve metrics is super beneficial. Why? Because it saves you from having to do it, and because it helps them to learn what's important to your business. It also helps you to have the free time to make good business decisions. Here are some quick tips:
- Be very granular with any link tracking. Every link should be identifiable.
- Track conversions using goals with Google Analytics.
- Don't just track returns, track why something was returned.
Action items: what about your product can be automated?
Just about everything can be automated. What can you automate with your product? If it's a video, how can you deliver it to your customers automatically? If it's a physical product, how much do you really need to do to fulfill orders? If you have something that cannot be automated, leave a comment and we'll find a way to give it a life of its own.