(AKA: Internet Marketing Shortcuts for Newbies)
Whether you are looking to supplement your income, or completely replace it so that you can quit your current JOB (Just Over Broke), there are many opportunities online. There are certainly many scams as well, so it is important to do one’s due diligence, but that is a subject for another post.
One of the many advantages of an online business is that you can work it around your schedule as it is available 24/7. Also, the cost to start a business online, though variable, is typically dramatically less than starting a traditional or brick and mortar business. Some can even be started at no cost, but these usually either require a lot of time, or some specialized knowledge or skill.
One of the downsides to most home based businesses (online or off), is that without a boss, you need the discipline to put in the time necessary. Many Internet Marketers boast a lifestyle that only requires “work” for a few hours a day, or even just a few hours per week. But in most cases, it will take time to get started, to set things up, and learn the ins and outs of this environment (websites, hosting, list building, autoresponders, capture pages, etc…)
There are many online resources to learn just about anything, including Internet Marketing. There are also some ways to try to shortcut the process to making money online, such that you can be “earning while you are learning”. Indeed, there are many “Done-For-You” systems that allow you to plug-in and minimize how much you have to learn before you get started. As you evaluate “Done-For-You” systems, there are a number of things you should consider and look for. To start with, let’s look at some basic concepts that apply to any business, online of off.
Multiple Streams of Income: This is something you should work towards for a number of reasons. The big 2 are:
- More streams of income means more money;
- More streams of income means more safety and stability. Indeed, if one stream dries up for any reason, you have others that can keep producing for you to keep you going as you try to find a replacement.
Leverage: Leverage refers to leveraging your time and effort, and it can present in a number of forms, some of which are sometimes also referred to as passive or residual income. Here are 2 basic forms of leverage:
- Leverage your own work: work once and get paid repeatedly. This is like writing a book or a song, or being a part of a movie or TV show, and getting paid royalties for years. In the home business arena, this usually involves acquiring customers that purchase repeatedly and you get paid each time they buy something.
- Leverage the work of others: get paid for other people’s work, such as an insurance company owner who makes money for the sales produced by his agents. In the home business arena, multi-level or multi-tiered opportunities can provide similar leverage, as can some joint ventures and affiliate programs (if you have affiliates promoting your products or programs).
Wealth almost always involves taking advantage of leverage in some form or another.
You, Inc.: This is an expression you may come across in the home business arena, online or off, and it is an important concept. The idea is that you want to develop yourself into a leader over time and be promoting yourself as someone people can “know, like and trust” as opposed to just promoting the program (Done-for-you or otherwise) that you are involved with. If you just promote the program or system, then if you decide to get involved with something else, you will have to start over, promoting the new program. This might happen because the program you originally promoted goes out of business, or because they make changes such that you are no longer comfortable promoting it… Or you just may be wanting to add something new to add another income stream. But if you promote in a way to present yourself as someone that people can learn to “know, like and trust”, then people are much more likely to follow you into another program whenever you might consider changing or expanding. The You, Inc concept is a process of learning through training and experience with the goal of helping you develop the right mindset and positioning. It is an investment in yourself and it always pays off.
Mentor/Coach: Finally, I want to add that it is my belief (and I am far from alone) that the quickest and most effective way to learn almost anything is with the help of a mentor or coach (someone who is already successful at what you are trying to learn to do). “Book knowledge” is great and helpful, but at some point you need to take action to get any results and that is when a mentor can help guide and evaluate your actions to minimize the learning curve of trial and error.
So to recap the basic concepts that we touched on:
- Multiple streams of income;
- You, Inc.;
So as you evaluate “Done-For-You” systems, you should look at how well they incorporate the above concepts, and ask these questions:
- Does the system allow me to tap into multiple streams of income?
- How well does the system allow me to leverage my work and the work of others?
- How much training is provided by the system? And does it allow me to brand myself?
- Does the system include any mentorship or coaching?
Just as a picture is worth a thousand words, an example might be helpful here. This may not be the best system out there, but it is quite good (and does include all 4 features we discussed, to some degree), especially for one that is 100% completely FREE. So you can sign up for it at no cost and therefore no risk and just explore the system from the inside. This might be helpful as you consider evaluating other systems in comparison, now or in the future.
Happy Treasures, LLC
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