How To Start An Online Business

How To Start Your First Internet Business

This article will teach you the basics of starting your first internet business. You’ll be introduced to some very useful products and services. You can also use this as a checklist to help stay focused and make it easier to set up and improve your internet business.

Find a Market

Find a market before you decide on a product. If you pick a product first then find out later there isn’t a market for it, you will have wasted a lot of time and money. So be sure to look for the market first. Also try to find an area that inspires or excites you. If you find your passion then it’ll be easier to stay motivated when building your business. Use Google to search different keywords. Try searching with Yahoo to see what else is selling. Check eBay for all their different categories. And use ClickBank to look for interesting markets. When you locate a market and find out what people want, all you’ll have to do is sell it to them. After your first internet project is up and running, and is profitable, then you may want to start looking for your next market. Remember it’s very easy to jump from one project to the next before the first one is finished. So try to find a market or project that you really like and stay with it until its making money.

Find a Product

After finding a market you’ll need to find a product to sell. You could search the internet to see what other people are selling to get some ideas. Or buy resale rights to a product. Maybe you can sell an affiliate product. Remember you don’t have to reinvent the wheel. Find a product someone else is selling and make it a little better, different, lower in price, or add a bonus whenever someone buys from you. If you choose to sell digital products you will find many extra benefits such as: no shipping or handling, low start up cost, your profit margin will be close to 100%, your customer will get their product right away. And a lot of it can be set up automatically so there’s less work for you. Make sure to take full advantage of the automation possibilities of the internet.

Get a Domain Name

You’ll want to have your own domain name. Try to think of a few different names because your first choices may not be available. Choose a short name and it will be easier for people to remember. If possible get domain names ending with .com or .co.uk. You should also try to get a name to match your product. And maybe use keywords in your domain name to get a better listing on search engines.

Hosting Companies

The purpose of hosting company is to keep your website running properly. They will make sure everything is working properly so your customers can navigate through it and buy your product or service. This is a very important responsibility. If your website isn’t working properly or not at all then you are losing money. You may find some free hosting companies, but you really do get what you pay for. So it may be better to use a paid hosting company.

Create a Website

Create a website so your customers can buy your products 24 hour a day. You will be competing with lots of other website’s so try to make yours unique. If your site takes a long time to download your potential customers will go somewhere else. Graphics are nice to look at but slow to download so have more text and less graphic. Remember its words that sell products. To get ideas for you website search the web and look for sites that you like. Make sure your website is easy to navigate. And if you are short on time and have the money you could hire a professional to build your site. Or if you want to save money you could do it yourself.

Payment Processor

To collect money for your products you will need a payment processor. Make sure that you accept credit cards because most transactions will be made with them. You should also consider other options as well, like accepting cheques and postal orders. And you may want to use PayPal. The more ways you can collect money the more sales you’ll make. And if you’re selling a digital product you may want to use ClickBank.

Auto responder

If you want to make your internet business easier, then you’ll want to automate as much as possible by using auto responders. You can automate a lot of your every day business tasks leaving more time for you to concentrate on more important things. Here are a few examples: send out email advertisements to everyone on your list at predetermined intervals. Automate the delivery of several different mini courses all at once. Send out sequential emails automatically whenever someone buys one of your products. Have all of your digital products sent out automatically. And with auto responders you can collect names and email addresses and add them to your list of customers and much, much more.

Free Advertising

This may be a good way to start out if you are limited on funds. But this will be slower than paid advertising and will take a lot more time. And time is money so figure out how much you’re worth and monitor your time. If you are spending a lot of time with free advertising and not getting the results you like, then you may want to try something else. Keep in mind when using free advertising someone else may also place their ad with yours and this is not very professional. Also when you join these free advertising lists it usually means everyone on that list can send free advertising to you. So you may get a lot of unwanted emails.

Paid Advertising

You may get better results with paid advertising. And at first you may think blasting your ad to as many people as possible will make you the most money. But this really isn’t a good idea for a couple of reasons. First a lot of people won’t have an interest in your product so they’ll probably not even read your ad. And second you may be accused of spamming which is something you never want to do. So always try placing ads with your specific targeted group. And always test your results to make sure that its cost efficient.

Collect a List

This gets 5 stars. Start collecting your list of names and email addresses as soon as possible, add to your list often, and cherish your list because it will make you money over and over again. Whenever you need extra money you can send an email promoting a product to your list. So you’ll want to collect names and emails addresses by offering free e-books or a mini course, by having them join your newsletter and of course whenever they buy your great product.

And remember to always invest in yourself. Invest your money for quality information that will help expand your business, and invest your time to thoroughly read the information.

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7 Lessons I Learned From an Accidental Millionaire

When I first met Stephanie Frank author of The Accidental Millionaire I had no idea how much my life would be affected by our budding friendship. It wasn’t because she was a best selling author, internationally known speaker and coach. Actually it was much more profoundly simpler than that.

Stephanie has the unique gift to be able to concepts that most people never understand the actions to take and create a process or blue print that makes business almost like the paint by numbers game. After a delightful interview with her I was left some pearls that will surely help you in business and life.

Here are 7 lessons I have learned from her:

Be a million dollar thinker

Most people get caught up in the “how” to do something. When they don’t have the answers they start second guessing and sabotaging themselves from the start. Million dollars thinkers do not operate that way. Once they make a decision they look for the solutions. They create a vision and a plan.

Make sure your goals are congruent with your top 3 values in life

I love this one. How many times have you been presented an opportunity and the only thing the person could tell you is how much money you’re going to make? Don’t me wrong, I am an ethical capitalist however all money is not good money.

For example, some people might not be successful in the real estate foreclosure market because they would feel like they were taking advantage of people during hard times. However, another person in that exact situation might view themselves as being an advisor to someone who would otherwise lose their home and get nothing from it. As you can see it’s the same situation but each person has a different value system.

This is not about right or wrong. You simply want to be clear about your personal values and make sure your business is in alignment.

Even when you’re down to your last twenty dollars you could be one idea away from success

Stephanie Frank openly shares her story about how she was a business woman by day and abused wife by night. One day her husband in a rage pushed her house, down cement stairs, onto the pavement of the driveway. While she was shaking and scared she new had a decision to make.

Have you ever been at a fork in the road and had to make a decision? I know I have. For me, I knew my job was killing me. After being on a job that was making me sick I had come to my breaking point. My doctor told me if you keep this up you are going to end up in the hospital or dead. I knew them I too had a decision to make and needed to come up with a Plan B.

Make yourself a personal promise

Many times people are not just afraid of failure but success. As a result, they are paralyzed by fear and never reach their potential Stephanie points out how she does something very simply to keep her moving forward. One a sticky note she would write ONE thing she would do that day before she went to bed. Some days it would be a big task and other times it would be a small action but still moving her towards success.

Is there something you have wanted to achieve but are afraid to step on faith? What if you took just a small step today toward that very goal?

Pick up a packet of sticky notes and the next time you feel afraid just take one small step. If it worked for this millionaire it can work for you.

Expect that it will happen

There is a saying that you get what you expect in life. When you have an expectation to succeed the universe will open up and bring you the answers. Now the trick is you don’t want to be attached to the process. Commit result to the result and be open to allowing the beauty of intention and synchronicity to work in your favor. Don’t try to control the journey just embrace it.

Build your business for the future

This lesson should be a mantra that is taught for any new entrepreneur. So many people start off simply focusing on how they are going to create income. Don’t get me wrong this is important too. However, if you end up a millionaire with no time, poor health, and no friends or family to share it with would this be success for you? Only you can answer that.

However, the truth is you are better off knowing where you want to end up so you know how to design the map to get there. You want to considerate your lifestyle first and design your business around it.

So ask yourself a few questions:
a. How many hours a day to you want to work?
b. Are you willing to work weekends?
c. How much net profit do you want to make each year?
d. How many weeks or months of vacation will you take each year?
e. Will you work when you travel?

The more clearly you define what success in your business will look like in the future the easier it is to ask the right questions to help you get there.

Collaborate your way to success

For many people who have let the politics, back biting and brown nosing of corporate America we relish the idea of being able to create our empire alone. While on the surface this both looks and feels good the truth is that you can only accomplish so much alone.

Stephanie shares the concept of the collaboration nation. It is a new paradigm is the way we do business… the virtual company.

The concept includes strategic alliances, out team mates and one the most important players the virtual assistant. This person can do things from make travel arrangements, appointments, book-keeping, taxes, update websites, write or edit presentations and almost any other project you can think of.

The lesson here is, focus on your strengths and collaborate with others to aid you in achieving your goal?
What does your business need to go to the next level? Who could you collaborate with to make it happen?

Stephanie Frank is an inspiration to hundreds of thousands of people around the country. Her book is not only motivational but an action plan on how to start your empire on a shoe string budget. If you want to learn lessons what will add to your bottom-line and your life you want to learn from this Accidental Millionaire. Click here to find out more

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