There are some cheap ways to own sites, but I would not suggest this to the outright newcomer to Online Business until some skills and experience has been gained. More of that with later editions.
- Folks, it works a lot like the brick & mortar business world that we come out of.
- If you have money, you buy a going concern / business / franchise etc
- If you have no or little funds, you have to build your business with what you have.
- The more money you can invest, the faster you will be able to reach your goals
- If you have limited funds, you need to invest a lot more of YOURSELF, your time etc.
The Internet is awash with ways to make money. For as many brick & mortar businesses there are in the world, there are MORE opportunities online - believe me !
But come back to the statistics of the "real" world. I trust that we all know that 80% of businesses fail within 2 yrs, and 96% fail within 10 yrs. Scary statistics.
It is estimated that only 1 - 4% of folk who attempt making money online actually succeed ( home-type businesses ).
Revelation - those who do NOT succeed, are all too often the clients of the 1- 4% who do !
The same success guidelines for the physical world apply in the digital world.
- Your online success will be determined and influenced by factors such as :
- Picking something you enjoy doing
- Choosing something you are knowledgeable on, or are prepared to acquire knowledge on
- The amount of time you are prepared to spend doing it
- Your financial resources
- Your ability to persevere
Let's look at my own online travels as a few examples :
- I was a mortgage originator full time. I converted to an online system, and while I am doing less turnover at a lower commission, the business is on autopilot. Leads go through to a mortgage originator and my commission drops into my bank account. All I do is advertise.
- I looked at all the local newsletters in my physical environment, and started an e-mail newsletter. I give businesses advertising space, and add in some affiliate ads of my own.
- All this while I started working on building lists, leads & prospects in my autoresponder by advertising in various ways. This became the basis for my marketing going forward.
- Once I had my autoresponder going with a few names, I started adding MLM programs and team builds.
Now, you need to listen and understand carefully what I am about to say. There will be those who disagree with me, but if you interpret my statements correctly, you will find that I am 100% correct.
- A very large percentage of businesses offered on the Internet today actually work !
- Most of them are being sold with a lot of hype, false promises and expectations.
- If only everything was presented in a transparent honest way, creating the correct expectations, it would a lot easier to make your choice.
- Instead, our heroes spend 90% of their time surfing or flitting from one offer to another, only to find that the advert was designed to take your money as fast as possible, leaving you with half truths and dashed dreams.
- There is so much "net-noise" out there. You start with one thing, and soon find you are involved in 5 other good looking opportunities. It steals the time that you should be focussing on your core business !
So, you say, what then are the advantages of business online, if any ? Well, I would say quite a few, some of them being :
Very few logistic constraints. This puts the world at your feet, and opens up opportunities that do not exist in the physical world.
- Lower capital requirements. All you require is Internet access, and you can get started.
- Time efficiency. Compare handing out flyers with sending out emails !
- Low Manpower required. Your laptop and software are your employees. Compare that !
- Portability. You can have a mobile office, and operate from anyplace in the world. Just pack and go.
Finally, what should YOU be doing going forward ?
I know people who have had success in one or more of the following.
- Affiliate Marketing
- Auctioning on Ebay
- Selling their own product
- Owning downlines in certain sites.
- Owning money making websites
- And a few more .....
Usually, however, there are some basics that need to be in place first.
I know I am generalizing, but for the typical average person wanting to start a home based online business, I would have the following recommendations.
- Resist the urge to keep on hopping to the next new thing until you have mastered what you are doing.
- Find something that you feel comfortable with, and focus on it. Filter out the "noise" and constant distractions that the Internet offers.
My next letter will go into options that might interest and benefit someone starting out an online career.
