License Type: Master Resell Rights 
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It is relatively easy to start an online business. But of you don’t approach this in the right way you will never be successful. Many people that start an online business give up on it in a very short time. We do not want you to do the same.
In this powerful report we will identify the 7 mistakes that you need to avoid with your online business.
When you avoid these mistakes you will have a much greater chance of making your online business a success.
Most people that start an online business do it out of curiosity. They have seen many wild claims about how they can make a fortune with just a few clicks of their mouse so they get themselves a domain name and some hosting and play around.
They follow the methods outlined in some training program that promises them the world. Claims of instant traffic and all this kind of BS. When the reality sets in that there is no such thing as making a fortune in their underwear by clicking their mouse, and using “miracle software” they lose interest rapidly and quit.
The thing is that it costs very little to get started with an online business. A domain name is around $10 a year and web hosting $10 a month. If you install the WordPress blogging platform then you can set up a website for free. So with so little invested it is no wonder that so many people give up when they realize that it is not as easy as they think.
If you don’t treat your online business as a proper business then you are much more likely to fail. You do not have to invest a lot of money but you do need to make an emotional investment in your online business.
Setting up an online business is relatively easy – making it a success is not. It doesn’t matter what others tell you there is work involved to create a robust and sustainable online business. You will need to invest in tools like an autoresponder service to make it work properly.
You need to believe that you are creating an asset. The website that you build is your asset. As an exit strategy you can sell your website to an interested party for a considerable sum. When your online business is successful and making regular income there will be a lot of people interested in buying it if that is what you want to do.
To create a successful online business you need to work on it every day. Forget all the nonsense about miracle software. You need to learn to do the right things and get the word out about your online business all of the time.
If your online business is just a hobby or a fad to you then your chances of success go way down.
Imagine that you invested your life savings into a brick and mortar shop in the local mall. Would you treat that as a hobby or a fad? No you wouldn’t – so imagine that you have invested your life savings in your online business.
There are going to be days when things go wrong with your online business. Something will stop working or the campaigns that you are running are not delivering the results that you want. You need the resilience and commitment to overcome these problems and carry on. Treating your online business as a real business will help you to do that.
How many people that start an online business do you think create a plan for their business? The answer is very few. Nobody knows how many online businesses fail every year but it will be a lot. Most new online business owners do not set goals or create any kind of plan. They are then surprised when it all fails.
If you are going to start a n online business then set a goal for it. The easiest goal to set is a financial goal. Think about how much you want your online business to generate in the first 12 months and then turn that into your financial goal.
You are probably starting an online business because you believe that it can provide you with the freedom that you crave. This is fine and a successful online business can provide you with freedom. No more working a dead end job and commuting for hours.
Your online business has the potential to make you a lot of money. The only thing standing in the way is you. So use the SMART goal setting process to set your goals. If you are not familiar with this process here is what it means:
Specific – your goal must be specific e.g. my online business will generate $100,000 in the next year
Measurable – you must be able to measure how you are progressing with your goal. Fortunately there are a lot of tools available to measure the success of your online business
Achievable – forget the hype here. It is extremely unlikely that you will make a million dollars in your first year. Not impossible though
Realistic – think about the time that you have available and other resources such as money
Timed – you must add a time to your goal such as 1 year. Open ended goals are useless
After you have set your goal you need to create a plan to achieve it. What you want to end up with is a daily set of tasks that you can work on to move you closer to your goal. So think about the macro tasks of your plan and then break these down into daily micro tasks.
A simple plan would be:
Decide on the niche and online business model
Setup website
Add content
Find offers to promote
Promote
Of course these are high level activities and there would be sub tasks involved to achieve them. You can start today by deciding on the niche that you want to enter for example. Write your goals and plans down and carry them with you wherever you go.
You need to carefully consider the niche that you choose for your online business. If you get this wrong then you can spend a great deal of time, effort and money and not get much in return. There are thousands of niches but not all of them are a good fit for an online business.
In a lot of guides about setting up an online business they will tell you to follow your passions. There is good intention behind this. If you start an online business with a niche that you are passionate about then you will be more motivated to make it work.
That is all very well if the niche you are passionate about has the potential to make you a lot of money.
You may well be passionate about sheep shearing in the Outback, but how many other people are going to be?
There are two things that you need to look for when choosing a niche:
Is there demand?
Is there money in the niche?
If the answer to either of these questions is “no” then you need to find another niche. You can check the demand for a niche by using the free Google Keyword Planner. Just enter in some seed keywords that relate to your niche e.g. “drone photography” and see how many searches this and similar terms receive each month. The higher the number of searches the better.
To see if there is money in the niche use a seed keyword and perform a search in Google. Are there a lot of ads on the first page of the search results? If there are then this is a good indicator that there is money to be made.
You can also use a website called OfferVault.com and search for available offers using your seed keyword. If there are a lot then you are probably on a winner. There are some niches where you just know there will be a ton of demand and many opportunities to make money. In our opinion the top 3 are:
Health and fitness – weight loss etc
Wealth creation – make money online, investing etc
Personal development – better relationships, meeting boys/girls, self improvement etc
If you are in any doubt about choosing the right niche - go where the money is. Don’t worry if you are not an expert in the niche right now. You can learn and master it. It is better to do this than choose the wrong niche that you are an expert in and passionate about.
There are a number of different online business models that you can choose from. Some examples of this are:
- Affiliate marketing
- CPA marketing
- Selling your own products and services
- Freelance services
- Dropshipping
- Dropservicing
- Amazon FBA
- Your own ecommerce store
- Self publishing
It is critical that you choose the right online business model that suits your circumstances. To open your own ecommerce store or participate in Amazon FBA you will need to invest some money to purchase stock to sell. Do you have this money available? If not then you could borrow it but you are taking a risk here.
If you do not have a lot of time available then creating and selling your own products and services is going to be tough. You can outsource the creation of products but you will need to spend a fair bit of money doing this.
Do you have a particular skill that is in demand? Here are some freelance services that are always in demand:
- SEO optimized content writing
- Copywriting
- Graphic design (logos etc)
- Programming
- Web design and development
- Creating mobile applications
- Search engine optimization
- Social media marketing
If you have any of these skills then you can market them and make good money online. You will need to be disciplined if you are going to do this as your customers will expect work of the highest quality delivered on time.
Probably the easiest online business to get started with is affiliate marketing. If you don’t know what this is the concept is simple. There are a lot of product vendors out there that will pay you a commission for promoting and recommending their products.
All you have to do is to sign up to their affiliate program and then drive targeted traffic to the offer. Each time that someone makes a purchase using your affiliate link, you will earn a commission from the product vendor.
You can promote physical products or digital products. Physical products are an easier sell but the commissions tend to be low. It is harder to sell digital products but the commissions are usually much higher.
There are affiliate networks that you can use to find offers to promote. If you are interested in physical products then you could join the Amazon Associates Program. You can find thousands of products to promote but you will only make around 3% to 5% commissions.
If you go for digital products then you can join Clickbank.com or Digistore24.com and find products that offer 50% commission and higher. One thing that you need to bear in mind is that because it is so easy to get involved with affiliate marketing there are a lot of online business owners doing it so you are going to have competition.
Do you have the latest bestselling novel swirling around in your head? I
- License: Master Resell Rights
- Category:Ebooks
- Tags:2021 Ebooks With Audio Master Resale Rights
