How 3 Top Online Businesses are Helping Me Create My Own Online Success

Whose online business do I most admire and why? There are so many, but here are three of the best.

Nathan Barry

This young guy rocks. Why? Because he worked really hard to learn a skill and then he shared it with others using books and other online tools.

I learned about Nathan on a podcast where he was being interviewed about his start in online business and what he is doing now. Although I am not an expert in the same areas as Nathan, I do have expertise that can be shared with others.

The key is to take what I know and package it in a way that is uber-valuable. While I have always been fascinated with the idea of selling ebooks, I appreciate Nathan’s approach for several reasons:

1. He sells ebooks, which means they are electronically distributed with very low product cost. There is nothing especially unique about this.

2. His business model uses tiered pricing, which basically gives people options when they buy one of his how-to ebooks. You can buy the book, only, and receive a very good value. For a bit more money, you can get the book plus additional tools to help you use what you are learning in the book.

For example: In addition to the book, the next tier might include interviews with experts on the topic you are teaching, or how-to videos on how to apply the teaching. Finally, the highest priced tier might include code samples to help you get started doing exactly what he is teaching you to do in the book and in the how-to videos.

Book Only – Lowest price

Book + A, B and C Extras – Higher price

Book + A, B and C Extras as well as D, E and F – Highest price

The benefit to using tiered pricing is that your potential profit is much higher. If you sell a book through a traditional publisher, you might make one or two dollars per book. Selling an ebook puts a lot more money in your pocket, which most people know.

What most people don’t consider, however, is selling packages that include the book and a host of other value-adds that really help the reader. By doing it this way, you are giving people an opportunity to spend a lot more money with you, which dramatically increases your profit. It also dramatically increases the value you are giving anyone who buys your book.

The best part about Nathan? He recently published a new book that tells you exactly how to do what he has done. His new book is called Authority. You can learn more about it here.  By the way, that is NOT an affiliate link and I am not getting paid to write this. I just believe in what Nathan is doing and wanted to share.

James Wedmore – Online Video Expert

If you want to be involved in online video, which I do, there are tons of models to follow. I really like James Wedmore because he knows what he is doing and he never takes himself too seriously.

James has a great YouTube channel with lots of actionable content. His how-to videos include tips on lighting, camera selection, editing, backgrounds, setting up your own video studio, and many more topics.

Why do I like James? Because I can see so many ways to use video in my business and he makes it all look doable. He also has fun in the process.

If you want to learn more about James, you can visit his YouTube channel.

Pat Flynn – Smart Passive Income

This is the obvious answer for lots of people because Pat has worked really hard and he is one of the most popular bloggers I know. Why do I like him? Because he is a family man, he is honest and he is transparent about his successes and his failures.

Pat also enjoys a challenge and he isn’t afraid to use himself as a guinea pig. The only advice I would give about following him is to pick one thing he is doing and try that first. Because he has done so many things, it’s easy to be distracted. For me, it’s all about focusing on one thing at a time.

You can learn more about Pat on the Smart Passive Income blog.

A Word About Focus

The internet can be a blessing or a curse. And internet marketers are no different. With so many opportunities and so many different ways to run an online business, the tendency is to chase the latest shiny object, so to speak. That is a real danger for me.

My solution is to first recognize my weakness. Once I acknowledge I am like a dog chasing a squirrel, I can step back and say “whoa.” Then evaluate a few opportunities, giving myself a deadline to make a decision. An example would be to give myself one week to evaluate and decide. At the end of the week (or sooner) I would have to decide on one. Just one.

Then? Pursue that one thing with a vengeance and ignore any “squirrels” that happen to run by while I am working.

Who should I follow?

With three examples of online businesses I admire, you would think this could lead to confusion. The big question: Who should I follow?

My approach is a bit different. I will take the best of all three and design a business that resonates with me. Here is what I mean:

1. Since I love the idea of writing books about specific skills and selling them using Nathan Barry’s tiered pricing strategy, this is pretty straight forward. It’s just a matter of choosing which skill to teach and how to design my packages for tiered pricing.

2. Packages associated with my tiered pricing strategy will include video tutorials and, possibly, interviews with experts. James Wedmore’s teaching will help me with this part of the business.

3. Pat Flynn will encourage me on how to run my business. Not specific techniques, but philosophies, character traits, networking, coaching, using mastermind groups, etc.

When I squish those three together, I have a pretty good picture of how I want to run my business.

Summary and Next Actions

What are the first two things I could do to create a hybrid business that is based on three other businesses I admire?

1. Focus. On just one thing.
2. Start now. Not “some day.”

This post is in response to The 30 Day Blog Challenge on the Suitcase Entrepreneur website.

NOTE: Natalie Sisson is the brains behind the Suitcase Entrepreneur brand, and I am a relatively new follower. Knowing what I now know about Natalie, she has moved onto the list of online businesses I admire. She is not part of my hybrid business design because I am still learning about what she does online. What I do know is that she is one smart cookie and I’m thrilled to be part of this challenge.