When I started my on-line business, my theme was "Free In Cyber-Space. I found all the free products and services required to run a web based business that were available free.
Two years ago you could grow a web business with little or no money. I no longer consider that possible. The web used to offer small and home based businesses a level playing field. Small businesses had a distant advantage because they could change almost overnight to incorporate new trends
The Internet is undergoing stratification. Now that Corporate America understands the power of the Internet, the full-blown gold rush is on. Corporations are spending so much money on-line that 90% of the total income earned on-line is produced by less than a hundred web sites. I'll bet another 100 corporations spend millions and still don't earn a profit. Having a lot of money to spend on marketing in itself is not enough to secure success anymore.
There are still thousands of small businesses earning outrageous incomes. Some are earning more in a month than most 2-income families earn in a year. In fact, it’s still not all that difficult. However, I don't know any part-time home businesses making full time incomes on-line. In the home based business sector, two distinctly different groups are emerging. They are the home hobby enthusiasts, and full time home based businesses. It’s still possible to migrate from hobbyist to full time, but it’s getting harder all the time.
HOME BUSINESS HOBBYIST
Well over 90% of all home business fit into this category. It requires most folks about a one-year learning curve to get through this stage; it took me longer because I had to do everything my way first, then learn to do it again, the right way
On the Internet there are thousands and thousands of people, all trying to sell something. The problem is no ones buying.
Many people in an attempt to create their own web site end up displaying a bunch of slow loading banners of stuff for sale as a web site. Since they don't have a mission to begin with they are doomed to failure.
The time it takes to get through a period of basic training is time well spent. The best way to learn almost anything is to do it yourself. In real estate it's called sweat-equity.
During this stage it’s not advisable to spend a ton of money in advertising or paid promotion. It’s more advisable to spend this time learning and developing your niche. It’s only after you can put your mission statement into a sentence or less that you should explore paid promotional services.
If you are in this stage, it can feel like walking on a treadmill going nowhere fast. The solution is to find a good marketing niche and a strategy, and then work it.
There are many good marketing courses ranging from $17 to $200+. I advise anyone serious about making the transition into a full time business to consider The Internet Marketing Challenge.
I realize you are seeing the same recommendation almost everywhere you go, but that’s simply because it works. It’s un-affordable to hire the founders because they are already earning thousands and their skills are in constant demand. A subscription to Internet Marketing Challenge is the only one where you can get direct access to the guys who really know what works, they have a great staff and discussion boards with people who can tell you what to do next and how to do it.
If you haven't looked into it yet, consider joining the Internet Marketing Challenge membership site as a Christmas present to your business, I'm sure it would pay off.
http://www.smithfam.com/imc/
THE FULL TIME INTERNET MARKETING PRO
An interesting thing happens once you start to earn some money on-line. You start earning more and more. Just as the space shuttle burns 90% of it’s fuel load just getting off the ground, the average home based business requires most of the work done before it earns a dime. It can be compared to what writers and actors do; they create a product from the material in their minds and get paid according to its acceptance in the market place, sometimes much later.
On the other hand, once you discover something that works for your business, everything seems to flow in the same direction. It usually only takes a short time to go from earning a hundred dollars a month to earning a thousand dollars a month or more. It all happens AFTER you discover your unique marketing formula.
People who are earning a living wage on-line find they now have two great businesses. The first business is marketing the niche products and services identified near the beginning, and the second business selling the information that helped them get to where they are now.
Paid advertising and promotion is much less risky when you are making money and operating full time. The reason is simple. You know what works. Advertising pays as long as it sells more than it costs. Also, at this stage, you can afford to spend more because advertising doesn't cost - it pays.
MAKING THE TRANSITION
The transition is difficult and most people don't have enough desire to put in the effort required. It’s not easier than a bricks and mortar business, but it can be a lot more profitable. The best news is that it requires a fraction of the money required to start and run a conventional business. AND you can start and grow at your own pace. The keys to success go back to our beginning where we defined our niche and mission..
On the other hand, I know people who explored Internet marketing for a few months without spending any money other than buying one or two marketing courses and a domain name. It’s still possible to build your whole business MENTALLY, then in weeks move that virtual business to the Internet and become an almost instant millionaire. But only if you have a well thought out plan, and follow it.
Consider The Following Basic Outline For Your Transition.
- Define your niche and create your mission statement
- Research your proposed business, including your competition
- Obtain good marketing training information
- Purchase your domain
- Build your web site, purchase professional design services if you can afford it
- Set up your follow-up messaging system
- Promote, follow-up, promote, follow-up, promote
- Sell products & services over and over to the same customers
- Revise your approach.
- Repeat the process
If you can be disciplined enough, long enough & are at least a little bit lucky it’s still possible to earn a good income on-line in less than a year. I have seen it happen.
Best Wishes
Bob
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