Online Woes for Beginning
| Category: Net Business Start ups | Date: 2002-05-13 |
Do you have a home-based business on the Internet? If you answered yes, the odds are pretty good you know what it feels like to be frustrated, not to mention being in the hole financially. If you answered no, you need to read this because it could save you a lot of time and money in the future.
If you are like most people I have heard from that own an Internet business you are confused, frustrated, and tired.
You probably got sucked into one of these "$1,000,000 in your first year ", "retire in 2 weeks" or "$10,000 a week" ads. Dont feel bad because you are not alone. Not all of these ads and their corresponding companies are bad, but you need to make sure which ones you do business with.
I can tell you from personal experience that the great majority of people, maybe 95%, are not going to make the $1,000,000 in a year or the $10,000 a week, but lots of people can make very comfortable incomes from their own homes. There are people who do make very nice six figure incomes working only 2-3 hours a day from the privacy of their own homes. This is the beauty of the Internet revolution and our technological era. From your computer at home you can reach, at last count, over 1 billion Internet users and growing.
There are many factors that can definitely shift the odds of success in your favor. It just requires a little persistence, research, and most importantly unwavering focus. Let me share with you a few ingredients of success that I think are important.
The most important ingredient for online business success is definitely related to having a good product. You have to have a good product. Without a solid product you are putting an undue burden upon yourself. There is too much competition on the web today to waste time with a lousy product. You will end up having tighter profit margins, and will struggle to make ends meet. A saleable product should be able to sell itself with a minimum of your time spent, and people should crave this product, no matter what the cost. It doesnt require high dollar advertising; two or three line ads are sufficient enough to draw people to your site. These products are out there. You
just have to do your research.
Another success creator is high profit margins. If you sell a product that costs you $5 to make for $8 you are going to be hard pressed to make any money. Once you factor in advertising expenses, shipping costs, electricity, taxes, time spent, etc. etc. you will be lucky if you made any money at all. Wouldnt you prefer a product that you could purchase for $2 and sell for $20? I would. Find that product, they are all over, and stick with it. It sure makes life easier to have all of your expenses paid for in the first week of the month versus the fourth.
Everything else is pure profit.
Lastly, do not give up. If you feel in your gut that you have a good product, stay with it. Believe in it, and before you know it other people will believe in it as well. Focus on where you want to be and set small goals. Take one step at a time you will get there.
About the Author
William Krebs is a Business Analyst and founder of MoneyMarketing.com, an Internet marketing company that specializes in cash flow principles and tools to online success.
This is the first article in a series of four. To find out more about his products and services please visit his website.
webmaster@moneymarketing.com
http://www.moneymarketing.com
If you are like most people I have heard from that own an Internet business you are confused, frustrated, and tired.
You probably got sucked into one of these "$1,000,000 in your first year ", "retire in 2 weeks" or "$10,000 a week" ads. Dont feel bad because you are not alone. Not all of these ads and their corresponding companies are bad, but you need to make sure which ones you do business with.
I can tell you from personal experience that the great majority of people, maybe 95%, are not going to make the $1,000,000 in a year or the $10,000 a week, but lots of people can make very comfortable incomes from their own homes. There are people who do make very nice six figure incomes working only 2-3 hours a day from the privacy of their own homes. This is the beauty of the Internet revolution and our technological era. From your computer at home you can reach, at last count, over 1 billion Internet users and growing.
There are many factors that can definitely shift the odds of success in your favor. It just requires a little persistence, research, and most importantly unwavering focus. Let me share with you a few ingredients of success that I think are important.
The most important ingredient for online business success is definitely related to having a good product. You have to have a good product. Without a solid product you are putting an undue burden upon yourself. There is too much competition on the web today to waste time with a lousy product. You will end up having tighter profit margins, and will struggle to make ends meet. A saleable product should be able to sell itself with a minimum of your time spent, and people should crave this product, no matter what the cost. It doesnt require high dollar advertising; two or three line ads are sufficient enough to draw people to your site. These products are out there. You
just have to do your research.
Another success creator is high profit margins. If you sell a product that costs you $5 to make for $8 you are going to be hard pressed to make any money. Once you factor in advertising expenses, shipping costs, electricity, taxes, time spent, etc. etc. you will be lucky if you made any money at all. Wouldnt you prefer a product that you could purchase for $2 and sell for $20? I would. Find that product, they are all over, and stick with it. It sure makes life easier to have all of your expenses paid for in the first week of the month versus the fourth.
Everything else is pure profit.
Lastly, do not give up. If you feel in your gut that you have a good product, stay with it. Believe in it, and before you know it other people will believe in it as well. Focus on where you want to be and set small goals. Take one step at a time you will get there.
About the Author
William Krebs is a Business Analyst and founder of MoneyMarketing.com, an Internet marketing company that specializes in cash flow principles and tools to online success.
This is the first article in a series of four. To find out more about his products and services please visit his website.
webmaster@moneymarketing.com
http://www.moneymarketing.com
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