I’m a big fan in combining two important factors whenever trying to learn a new skill or achieve a new result in your life:
- Make sure you find the BEST way to get there – have the right method, skills and guidance
- Keep it simple so you can avoid distractions and confusion
So, when we get asked frequently over at Information Marketer’s Zone “how can I make money online”, the answer follows the same structure as the advice above…
Know The Methods, Skills, Steps, And People To Achieve Your Goal Of Making Money Online
Understanding the GUTS of how money is made in any business, and then how that translates to growing your own business online is critical to being successful.
This starts with knowing WHY and WHAT you want to build.
If your goal is simply to make MONEY online, then you are starting from the wrong mindset.
Any business only succeeds because it offers tremendous value to its target market. The more value you bring, the more people know about you and your value, the more money you will make…but the real difference is that you must become obsessed with understanding and then delivering value to your target market in order for any true success to happen in business.
Next, you want to understand the business models and methods of making money online —
- Selling services – a skill or talent that you can deliver more effectively that your market is willing to pay a premium for
- Selling your own products – here you have options including information/expertise/training products or physical products that you create or license
- Selling affiliate products – what you are doing here is really putting your marketing chops to work and then referring your market to other people’s offers for which you are paid a portion (10%-50%)
- Eyeballs – in this business you generate content and then sell advertising matching your captured audience with others who want to pay you to reach that audience
These are the key methods through which businesses are built and money is made online. Typically one of these will suit you better in terms of what you are trying to achieve, your talent and timing of your business.
Also wrapped up in these business model decisions is the very important concept of “Leverage”
If you ONLY sell services, then you are selling time for money which caps the overall opportunity for your business and can be an exhausting way to earn a living.
Finally, you want to inventory your skills, talent and desire around what your strengths are.
If you are a master marketer, then start by building a following and resell other people’s products until you reach a profit level that allows you to bring in a product development piece to your business
On the other hand, if you are good at offering a service, then learn the basics of marketing and begin to build your business on this basis looking for ways to expand into pre-packaged products helping you to leverage your time and effort.
Keep It Simple, Avoid Distractions
Once you have a handle on your vision for your own future, armed with an understanding of how money is made online and have a keen understanding of your strengths and skills to leverage – then it becomes key to simplify the execution of your initial business.
For example…here are the basic steps you need to focus on each day to execute on your plan to build a large, successful online business:
- Research the market
- Develop your own key differentiation,
- Build your online presence
- Begin reaching and engaging with your market
- Test your offers and adjust based on the feedback
- Scale what works, throw away what doesn’t
From these steps, you format your own daily, weekly, monthly and annual workplan so that you stay focused and keep everyone involved in your business (contractors, employees, etc…) just as laser-focused
Wishing you could make money online rarely translates into reality
Studying, planning, or working short-term focused opportunities is simply a huge waste of time and effort.
Building a business online is completely within your reach, but you do have to treat it as a business – please review the basics above at least 10-times – and if you have questions or comments, post them here in the blog and we’ll be happy to help steer you in the right direction.
