One Month to Your Own Online Business
Taking stock so far…
Let me briefly summarize what we have so far, because from this point on, the focus and the tone of this book is going to change.
What we have considered up to this point is the theory of why you can make money online, and the theory of how you do so.
However, knowing every theory in the world is never to be of any use to you if you do not know how to put it into practice, and it is for this reason that from here on, we are going to be strictly practical.
What I am going to do throughout the rest of this book is set out in detail how to launch one particular type of internet business.
So, the first thing to say is that this is not the only kind of internet business that you might start off with, because there are many different approaches to getting involved in the online marketing community for the first time.
Furthermore, while this particular business model has been extremely successful for millions of beginner online marketers (or ‘newbies’, as they are often referred to), the level of success that any particular individual enjoys will depend upon their own efforts and level of application.
From here on, I am going to focus on one business model that should see you earning money fairly quickly. Moreover, it is a business model where the amount of money that you earn should be in direct proportion to the effort that you choose to put into marketing it.
It is also a business that is easily scalable.
You can follow the step-by-step guidelines throughout the rest of this manual, set your business up for the first time, work on it until it is a success and effectively run itself on autopilot, before moving on to do the whole thing again.
In this way, from one simple business model, you can build a business empire that can realistically bring in thousands of dollars a month from a business that requires very little start-up capital (although once you are generating a reasonable incoming cash flow, you can invest some of that cash flow in tools and resources that will make the whole thing even easier and more profitable).
It has to be something that people need or
want…
You are going to set up a business that supplies information to people, and in order to make money by supplying information, it has to be something that they need or want.
Note the order that those two words are presented in, need and want.
People are far more likely to be willing to pay for information that they really need than for information that they merely want. Hence, it is important to differentiate between the two different groups and their requirements.
A simple example will illustrate this point perfectly.
If someone keeps a dog as a pet and they want to train it to do tricks, or they want to learn how to groom it properly, then they probably fall into the category of people who have ‘wants.
If, however, the dog incessantly howls throughout the night so that they never get a wink of sleep, they have a real ‘need’. They might want to teach the dog to behave properly, but from their own point of view, they have a need to do so for their own health, welfare and sanity!
People who have genuine needs are the people most likely to spend money to try to find a solution to the problem that they have. Moreover, they are likely to be willing to continue to spend until they find that solution.
As an example, if someone suffers chronic back pain, they will buy products that give them information about how to get rid of their pain. If a particular product they buy does the trick, they will no longer keep buying products of this nature, but if it doesn’t, they will.
Hence, the first step to setting up your business is finding the kind of things that people need and are searching for on the internet.
This is not to say that you cannot sell information that people want, because you can. However, it is far easier to sell information that people need, and in the early days, you want to make things as easy as possible.
Now, you may be wondering what kind of information you might supply to people, and how are you going to ‘package’ this information in a way that will make money for you.
The answer is simple. You aren’t, because other people have already done the hard work for you.
People go online each and every day to find information about an almost unbelievably wide and diverse range of topics and subject matter.
In fact, no matter what kind of information is available, there are people looking for it, and although most of the time they want that information for free, it is good enough, then they might be willing to pay for it.
Consequently, in most areas where the net is a popular information search tool, there are lots of products available for sale already. However, almost none of these products is doing anything more than scratching the surface of their intended target market.
As a result, there are thousands of companies and individuals who are willing to pay other would-be online entrepreneurs commission to promote their products or services, which is where you come in.
You do not have to source the information that you’re going to supply to your prospects. You do not have to worry about spending countless hours researching your subject, weeks compiling the results of your research into a product, or building a fancy website.
You just need to find a suitable market to promote yourself in, and then find a product that matches the requirements of that market.
This is the first practical lesson.
You must always establish that there is a demand for any product that you are either going to promote on behalf of someone else, or even create yourself (a little further down the line) before you ever consider getting involved.
However, the majority of ‘newbie’ marketers do things completely the other way around. They find a product to promote or (far, far worse), they spend weeks or months creating their own product without first trying to establish whether there is a demand.
Not surprisingly, most of the time this approach is a recipe for failure, and clearly it is therefore something you should never even contemplate doing.
You must always establish demand before finding or creating a suitable product – no exceptions – always!
You know that you need to establish demand, but you do not know what products other people have available that might satisfy that demand.
For this reason, in these early stages, you need to create a shortlist of perhaps half a dozen areas of demand in which it might be profitable to work if there are suitable products available. The next stage is to establish how you do this.
Regards, Coyalita
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