Don’t Go Broke Trying to Build an Online BusinessLeave the first response May 7, 2013 / Posted in Internet Marketing
Forty Thousand Dollars Later
Are you a serial IM product buyer? Are you depleting your checking account as you search for the ideal internet money plan? Do you have a habit of buying everything you can, hoping to find the one last piece of your profit puzzle?
You’re not the only one convinced that the only way to make money involves spending it in copious quantities. Far too many Internet marketers are doing the exact same thing.
And that’s totally understandable. It’s entirely reasonable to invest in new strategies and tools to fine-tune your profitable IM enterprises. Investing in new materials to stay on top of a quickly developing industry is reasonable. Making those purchases before you have a profitable business is a different matter, though.
There’s a big difference between the person who’s staying on the cutting edge of new developments and the person who’s spending like a madman in hopes of finding a magical solution that will turn things around.
You want to be the smart investor. You don’t want to spend yourself into bankruptcy before you build a real business.
Making Smart Purchases
So, how do you avoid becoming the wrong kind of serial buyer? You need to build a solid foundation for your business. If you ignore the bells and whistles, you’ll see the IM is really based on a few simple premises.
You need a product to sell. You need to have a strategy to sell that product. You need to bring traffic to your the site you’ll use to make sales.
That’s it. All of what you do needs to relate directly to one or more of those core basics.
That means that you should start by building a solid foundation on all three fronts. When you buy something, it must directly address one of those three foundational needs.
You need to build a solid foundation that will allow you to start making money online free before you begin worrying about the details. You can start experiencing real IM success after that foundation is in place. Then you can start experimenting with new ideas and products.
How to Build Your Foundation
You don’t need to spend big money to build a profitable foundation. Here’s a great approach to getting the job done.
- Get a smart, big picture understanding of Internet marketing. You need to learn how things work from someone who’s spent time in the trenches.
- Focus on ways to boost traffic. As noted, traffic is one of the three keys to a solid foundation. It’s arguably the most important component. Without traffic, you can’t determine if your product is interesting or if you’re sales strategy is working.| Absent traffic, you can’t determine if you have the right product or a workable sales strategy. You need to put eyeballs on your pages right away.
- Secure ongoing support. A good ebook can be helpful. A video can be invaluable. However, there’s nothing like developing an ongoing connection with a coach or mentor who has a history of success and a willingness to show you the ropes. Good mentoring increases efficiency, makes it easier for you to build a foundation, and allows you to avoid common mistakes.
- Minimize your exposure. You want to meet your objectives without risking significant losses. Look for opportunities to secure the right information at a reasonable price. Find a small business coaching opportunity that doesn’t require a fat up-front commitment and that doesn’t lock you into a multi-month contract.
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