Most young entrepreneurs struggle to make their mark because the competition for online businesses is more evolving than ever.

This happens because most newcomers fail to stay ahead of the curve and use outdated strategies to compete – hence, leading to stagnation and missed opportunities. ❌ 

What worked yesterday might not work tomorrow - and understanding the trends in online business is crucial.

That’s why in today’s article, we’re going to walk you through:

• Leveraging Remote Work In Business

• Building Your Personal Brand

• Using AI and Automation for Efficiency

• The Power of Niche Markets

Let's dive in. 🚀

Leveraging Remote Work In Business

After COVID, remote work isn’t just a possibility but a preference for many entrepreneurs!

Think about it. As an online business, you don’t need to spend hundreds and thousands of $$$ on overheads, rent, utilities, office expenses, and whatnot. 

You can tap into a global market with ease within a few taps. But to make that transition, you need to be up-to-date with digital tools. If you aren’t, I’d suggest investing in your learning right away – it’ll save you a TON.

But beyond cost savings, remote work facilitates greater work-life balance too. Not only will you attract top talent who value flexibility, you’ll also be able to balance your own personal and professional life as well. 

That said, the success of a remote workforce hinges on effective communication and project management strategies to maintain productivity.

Our team at Investing at 25 is fully remote – these are the tools we use to get work done on time (and with quality):

• Trello — to stay aligned on long-term goals and KPIs.

• Notion — an all-in-one content management system for all social media handles.

• WhatsApp — to keep each other aligned on day-to-day tasks.

• Google Meets — for monthly and quarterly meetings.

• ChatGPT — an extra assistant for content research and strategy.

They’re not the flashiest set of tools, but as I said - it's what gets the job done. 😉

Building Your Personal Brand

In 2024 where competition is cut-throat, personal branding is your gateway for standing out!

A strong personal brand serves as a magnet for opportunities. All the great companies in the world today have personal brands attached to it. 

This helps establish your authority and attract your ideal clients. 

If you’re confused about where to start, answer these questions first:

• What do you do (aka your offer/service)?

• Who do you do it for (aka your ideal client)?

• How do you do it (aka your system, framework, process)?

• Where do you offer your service (aka your personal branding channel)?

• What is your promise or outcome for your clients?

• What are your main content pillars?

All of these are the foundations to becoming an expert in your niche!

The key challenge is to maintain consistency across all digital platforms to avoid diluting your brand's impact. 

My suggestion is to start sharing insights and expertise where your audience is most active - you can expand to other channels once you’ve made the most of your current one.

Leveraging AI and Automation for Efficiency

Artificial Intelligence (AI) and automation are no longer just futuristic concepts, they’re the present! 

If your business isn’t leveraging AI in any part of your process, then you need to review and revise your strategy.

Now I know there’s a huge hype around AI and automation, there’s a key principle you need to adopt…

Use AI to automate repetitive and mundane tasks, not the whole business itself.

The human mind is a brilliant asset. Everything AI does is what our mind has ALREADY achieved. So instead of looking at AI as a gateway to automate your whole business while you sit back and relax, you need to get back to the drawing board!

Consider AI a tool for you to focus on more important stuff for your business. 

Start with automating routine tasks such as: 

• Email responses

• Scheduling social media posts

• Brainstorming content ideas

• CRM and Sales processes

• Customer Service requests

• Invoicing and Accounting

• Marketing triggers

And so on!

Your goal should be to become efficient without compromising on customer experience.

The Power of Niche Markets

There’s a positive relationship between size and niches. The larger a company is, the wider the markets they’ll target.

Meaning if you’re running a small online business, it’s best you start in a small market and make your way up gradually.

Take Amazon for example – when Jeff Bezos launched Amazon in his garage, he only sold books online. As he began to grow, he added more product lines. 

Fast-forward to Amazon today, and they’re a GIANT!

So yes, focusing on a specific niche helps you create highly personalized services and products. Once you’ve built good case studies and gotten solid results, then focus on upskilling and expanding your market!

Summary/TL;DR

• Young entrepreneurs struggle due to evolving online business competition and outdated strategies.

• Staying ahead of trends in online business is crucial for success.

• Leveraging Remote Work: 

  • Post-COVID, remote work is preferred for cost savings and work-life balance. 

  • Effective communication and project management are vital. 

  • We use tools like Trello, Notion, WhatsApp, Google Meets, and ChatGPT to stay on top.

• Building Your Personal Brand: 

  • Essential for standing out in 2024's competition. 

  • Establishes authority and attracts ideal clients. 

  • Foundations include defining your offer, ideal client, process, branding channel, promise, and content pillars.

• Using AI and Automation for Efficiency: 

  • Automate repetitive tasks, not the entire business. 

  • Focus on using AI to improve efficiency without losing customer experience. 

  • Tasks to automate include email responses, social media scheduling, content brainstorming, CRM, customer service, invoicing, and marketing triggers.

• The Power of Niche Markets: 

  • Starting small and focusing on a specific niche allows for personalized services and products. 

  • Expansion and upskilling should follow solid results and case studies, similar to Amazon's growth strategy.

 📆 How I can help

That’s all for today!

Whenever you’re ready, here’s how I can help you:

1. Work with me 1:1 - Book a coaching session for your next career transition.

2. Work with my marketing team - Get personalized guidance from a 7+ yr global full-stack marketing professional.

3. Sponsor this newsletter - Get in front of over 12,000+ professionals and business owners in Asia and Europe

For daily insights, join me on Linkedin, Instagram, and Tune in to our podcast 🎙️