I was so amazed when I visited Dubai recently to learn of the amazing history of the place. Here is a place with no natural resources or beauty, that was a desert just 40 years ago, but they have manufactured an amazing tourist industry and commercial base. Dubai gives us two powerful lessons for building an online business as discussed below.
Here are the two lessons I discuss in the video above that are important for you to understand in building your online business.
1. Create the need for your marketplace despite how crowded it is
Yes, the leaders of Dubai wanted the city to become a tourist and commercial hub. So they set about a plan to draw tourists and businesses to their city.
It involved authenticity, innovation, tax breaks - whatever it took they found ways to give them the edge in the marketplace and as a result they have a thriving economy and is a much sought after destination for tourists and multi-national businesses.
So find the ways to make you attractive to your audience and keep it authentic and your hungry crowd will gather.
2. Invest in your foundation
The forefathers of Dubai got some lucky breaks and invested it into their infrastructure. They built a solid foundation that the second generation could build upon.
I have seen so many people get online and do promotion after promotion, launch after launch without building a solid foundation. What I mean is an "ecosystem" for their business to be able to build upon. A system of engagement and feeding where people can consume you and where you can build a relationship with people. It can be through social media, blogging, email marketing, etc. Whatever your ecosystem looks like it can be the rock that your business sits and builds upon.
In summary - you can start from nothing and build a successful online business. Just remember to be authentic and build your ecosystem as you build your business.