What if I told you that in order to succeed you should ignore what everyone says and do the opposite? If you follow everyone else your results will be only mediocre results. The most successful people of the world are the ones despite adversity, go against the grain and create their own paths.
Some of the same strategies that have been applied to physical businesses for centuries still apply today to internet business.
Creating a sustainable income online should be approached as a business, no matter if you are creating an online store, blog, affiliate site or social network. Significant amounts of time, energy, and capital will have to be invested for long term success. There is a steep learning curve, but your momentum will grow as you gain education and experience.
There is risk involved, as with starting any business, but due to the nature of the internet, you won’t go bankrupt if your business closes as one might with a retail location. Startup costs are remarkably lower, domain names and hosting are very cheap. The biggest resource you will need to invest is your time.
Making money online is similar to any business operation, You offer a product/service for sale, market the product/service, close the sale and repeat. The only difference is that transactions occur online, and once the right systems are in place, they can run with little input from you. Income becomes passive as you create new systems, or tweak current operations. There are 3 main ways to make money online:
Creating your own product and bringing it to market is in my opinion the most easiest way to make money online. It can be a physical or digital product. By creating a product you establish a foundation in a niche and can have affiliates help promote your products.
Selling services are another great way to make money online. When you sell services you are limited by the amount of output you can humanly provide, unless you employ others.
Affiliate marketing is a huge industry and it’s only growing. The great thing about collecting commissions from products sold, is that there is no inventory, and very low overhead. The only major downfall to affiliate marketing is that your business is based on growing other peoples businesses.
First of all, ignore the “make money online” hype. When I first started getting into internet marketing I was all over the place, searching for new tactics, hidden niches, and the pot of gold at the end of the rainbow. When I saw that someone was successful I would jump into the arena thinking I would be just as successful. This is usually not the case.
Find your passions, your hobbies, and any interests that you have. Write them down so you won’t forget (helps me), and use them as a basis for finding ideas for new ventures. Build your online business around these interests. If you are constantly chasing the pot of gold, you risk losing motivation in the project and it could fail. If money is your main motivator, your business will be built with a scarcity mindset. Instead your venture should be built on a foundation of providing value, which brings us to lesson number two.
The most important aspect of making money online, as with any field is providing real value. Real value can be in the form of information, products or services that help others in some way. Not only will you be rewarded financially but you will have improved someone’s life. People know what they need and want, it is your job to identify their needs and provide incredible value, the money will follow.
Perfectionism like analysis paralysis is one of the entrepreneurs worst enemies. Getting caught up in the perfect design, tweaking code to make it just right will slow you down drastically.
Put version one up as quickly as possible and tweak it as you go, you'll avoid feature creep and be able to make changes early in your projects stage.
If you want to win at this game you must realize that giving up is not an option. With most overnight success stories you rarely hear about the years of hard work and second mortgages that kept the business afloat. During this the uphill battle take time to invest in your education and never give up. As you gain knowledge and experience things will become easier and more natural.