Are you one of the thousands of aspiring Internet marketers who have chosen to become the next generation of Internet Millionaires?
You have read that approximately 600 million people have Internet access – and yet the Internet is still in its infancy. Each month, it is reported that millions of newcomers and thousands of businesses establish themselves online.
With such a large and growing audience, combined with the ease with which marketing and advertising can be done online at a fraction of the cost of traditional methods, we now have an incredible opportunity to succeed in online business.
Numerous businesses have now aligned themselves with the Internet, which has spawned numerous new paradigms in recent years. Individuals from all walks of life are eligible for residual income. You can now earn money online using a simple and proven formula that has been used by numerous individuals to generate multiple streams of residual income.
However, please be aware of the obstacles ahead, as it is not as simple as it appears. It requires considerable effort and financial investment. The following is a brief list of some of the points to consider:
1. SELECT WHAT YOU WANT TO SELL
1.1. Product Sales
When you sell a product, you can either manage the entire operation from start to finish, including manufacturing or creating the products, processing orders, stocking and inventory management, shipping the goods, and processing payments, OR you can join some affiliate programs and market for businesses that will handle all of the administration for you.
Your role is therefore limited to delivering orders to businesses and earning commission as a result of your efforts. The critical question is, “What products should we sell?”
We should all be aware that the number one business product of the future has been identified as “information.” Successful information products include ‘how-to’ and “self-improvement” e-books that instruct readers on how to solve specific problems.
If you have expertise in a particular field, you may wish to consider writing and developing your own products and distributing them via the numerous channels available to you, including websites, newsletters, ezines, and emails.
1.2. Selling Professional Services
A benefit of selling a service is that it frequently generates’residual’ income. Monthly passive income is possible as long as existing customers continue to use your service. However, we should re-ask the question, “What types of services are appropriate for online selling?”
As the Internet boom continues, the most obvious possibility is any service that assists businesses in utilizing the Internet. A good example is a web hosting service, in which the host provides space for other people’s websites and the tools necessary to manage them, all while providing technical support and service to their clients.
2 A Thorough Business Plan
Do not begin until you have developed a plan that details the markets you intend to serve, the products and services you intend to sell to these markets, how you intend to acquire these products (and services), how you intend to market and sell them, and how you intend to finance all of this. As with any other line of work, you must have a business plan for your Internet venture. Establish attainable short-, medium-, and long-term objectives, create a budget, and adhere to it to the maximum extent possible. Conduct periodic checks to identify deviations from the plan and take necessary corrective action.
3. A Program for E-Commerce
You must be able to accept orders, process payments via credit card, and ship the product. Otherwise, you should follow the lead of many successful Internet entrepreneurs and join reputable affiliate programs where you will not have to worry about order processing, payment collection, packing, and shipping of the products because these will be handled by the merchants, i.e. the affiliate program owners.
4. Effective Sales Copy
Your website’s content should include both attractive and persuasive selling materials that will persuade prospects to buy from you while also maintaining and retaining existing customers. Copywriting is a skill that requires practice. If you are unable to do it yourself, you will need to hire professional copywriters for a fee.
5. Perseverance and Patience
Building a successful Internet business requires not only considerable effort and time, but also some financial investment on your part, particularly for acquiring the necessary knowledge and advertising your business. Avoid falling for the “overnight miracle” and “instant millionaire” hype and stories.
You would be tempted by a plethora of ostensibly very attractive offers and promises made on the Web to assist you in growing your business. Many of these would only serve to frustrate and disappoint you. Persevere and reinvest your initial profits in the business.
6. Assemble Your List Immediately
Always keep three critical words in mind when it comes to Internet marketing. It’s…LIST, LIST, and LIST. Additionally, keep in mind the popular Internet adage “The Gold is in your LIST!” This means that a significant portion of your time, effort, and concentration should be spent developing an effective strategy for driving traffic to your site. Advertising is therefore critical.
7. Maintain Discipline
While this is a home-based business with complete freedom, it is prudent to maintain some level of discipline. Once you have decided to sit down in front of the computer and begin working online, you must maintain focus and avoid distractions. Consider it a business, not a hobby. It would be nice to adhere to a schedule that is also communicated to other family members so they know when to leave you alone. However, avoid becoming complacent and spending an excessive amount of time in front of your computer, as your loved ones, including your pets, also deserve your attention and time.
8. Resist the temptation to spam.
Under no circumstances should you attempt spamming, or sending unsolicited e-mails to unexpected recipients. I am irritated when I discover chunks of unwanted e-mails clogging my mailbox, resulting in the “loss” of e-mails from my friends and business associates. The vexing process of deleting them drives me insane! If you persist in “spamming,” your name and registration will almost certainly be terminated. As a result, it is not worth the effort because your business will eventually suffer.
9. Understand how to properly position your advertisement
There are numerous locations where you can place an advertisement, including newsgroups, forums, ezines, and websites, some of which require payment and others are completely free. It is possible to promote your products by posting your Ad to a mailing list, newsgroup, or discussion forum using a signature file.