This article is guest posted by Charles Lau who liked to be known as a business blogger.
While many people want to know about the “How”? in making money online, I have written my blog more towards “Why”? which I think is more important to understand so that you can execute all the tips and tricks out there in the market! Visit my blog at Charles Lau dot Com.
While many people are convinced to start online ventures, most of them actually failed and stopped trying to make money online. Why is this so? Let’s find out below.
Making Money Online Is Realistic!
Making money online seems to be a more realistic way of getting rich quick than any other way of doing business. Why is it so? Two reasons below:
1) Because physical business comes with a lot of burdens such as
- Business partnership problems with your suppliers, fellow business partners, as well as cooperative companies.
- Your partners and you may have your own individual ideas of doing business and couldn’t agree with one another.
- When business is not making money, the partners are working happily without complaining or talking about how to share their ownership. But when business is making money, the partners start to talk about their individual efforts being greater than the other and hence deserve a greater share and profit.
- When you just started out, you might be getting “free”? helper somewhere to get your ideas realized. But this helper actually used your idea and make it even better with his own business! Non-disclosure agreement wasn’t made and hence you can’t sue him either. There is such a case happening right now with Facebook’s legal woes.
- Unsellable Goods is yet another problem if the turnover rate of the goods is too low, causing the companies to face some losses. Yet they have to foresee how much goods will be wasted and hence they have to gauge the production supply versus demand.
- Delivery of goods is also a very big problem too. Things like how much time it takes to deliver your goods to your customers, is there any damage during the transportation, when you need to start delivery, the quantity of the goods being delivered and also how fragile the goods are so that they need extra caution during delivery.
- Captial Startup Cost is also a factor not to be missed since you might need to buy your goods, employ staff, renting an office, marketing budget, and even renovating costs and packaging costs.
2) And also because online business can be a real least burden you can take to start up, such as:
- No inventory of goods. You could start by affiliating yourself with the manufacturers. Simply earn the money from the referral fees, and your manufacturers shall do all the fulfillment of the goods and delivery.
- Can start a business easily on your own. Partners are usually meant for leveraging for work and skills. Depending on the nature of your Internet business, all you need is to project your single most powerful knowledge and market it out on the Internet.
- Marketing budget is measurable in real time. We can choose to continue or stop an advertisement if we found out about the effectiveness of traffic conversion after ads clicking. This is not as simple when we put up an advertisement on the television where the cost of production and ad placement are already been paid for.
- Production of eBooks can be a real attraction. Now, all the project papers you have been doing for your universities can be converted into ebooks to sell on the Internet without the upfront cost of book publishing! Internet is always a place for digital goods transactions, and ebook is going to be one of the most expensive transactional goods when you can imagine how profitable those publishers and bookshops out there is…
Just think about this realistic step-by-step scenario of a typical making-money-online method:
- So many people are coming online everyday.
- Google Adwords is the fastest way to get your word out to the mass out there.
- Creating Your Pre-selling pages to aim for a click-through to the sales pages.
- Sales pages are there to convince the prospects into customers.
It is no wonder many people are convinced to make money online, but only a few managed to make it…
Why Making Money Online Is Not As Simple As Being Realistic
- While Internet business seems so simple to do, there are yet so many people out there not making money. Many of them have even burnt their hands paying too much money for advertisements in the hope of getting them a few click-throughs.
- Did you realize that making money online requires the same amount of perseverance as doing physical business? The very big picture about ALL businesses (online or offline) is that they need to learn how to market products out to the outside world. Without an effective marketing strategy, your products are nothing. Without a good marketing strategy, not many people will know about your products even! Let alone to buy your products! Or in the scenario of affiliate marketing, nobody will get to know your website to be referred to your merchants!
- Did you also realize that you need to do sales as well? Sales means to talk to your prospects who are by-passing your shop, convincing them to buy something. Same goes for your website. Your website is the sales copy. It is known as the landing page from all your marketing effort to let everybody know about you! Your sales copy is your ultimate 24-hour salesman standing there ready to talk to any prospects who are interested to find out more about your products. You have to keep testing the capability of your “salesman”? or else all your marketing effort is useless! For blogs, the sales page is your About Page, and in additional you might want to show an introduction of some of your best posts! This will give a better conversion of prospects into readers!
- Many people have been wanting to make money online. They followed step by step, and yet they couldn’t find success. If you do realize, it is not about following the rules that is going to make you successful… It is about having a feel of the market, then modify your marketing strategy and execute it accordingly with all the various analysis tools available on the Internet which is not so possible to be done when we do TV advertisements! We have to keep trying, keep modifying and keep trying till it works!
- As I have mentioned in my blog about making money online being more feasible with children than adults, online business is very similar to doing physical business because both need a lot of perseverance and creativity to keep trying until it works. (The major difference is with the heavier costs to bear with the physical businesses.) Many adults are simply getting used to leveraging their burdens by paying money to get them and are less likely to work more, while the children will always think of ways and means out there to get what they want. Just imagine if they were to do a business where they are not being restricted because of age… It’s going to have tremendous results even if it is too hard to work on!
- As a result, the adults who have become less and less creative because of their environmental affection, will tend to use money as their only tool to buy more ebooks and packages to learn how to make money online which leads to the marketing feel problem explained in paragraph 4. Buying ebooks and packages are actually good for anybody who want to learn strategies that work. But they have already missed a lot of “lessons”? where the experts have gone through all the processes to arrive that formula. And by following step by step blindly, they are simply having no care about what really does work and what does not work.
Things to note when You Are Going For An Internet Affiliate Opportunity
- Find out who the target market is. The more specific that you define your target market, the better marketing strategy you will be able to adopt. Don’t believe in any Internet opportunity that tells you about easy money and not to worry about the traffic… If traffic is not to worry about, probably you might want to ask how you are going to get your traffic to buy or refer products because it might be a scam.
- Find out how your marketing strategy is going to work. Most likely, you will be asked to do Pay-Per-Click campaigns. If that is the case, you might want to drop the whole idea because the author doesn’t care about your marketing costs at all when he is promoting a product which he probably claims to sell very well and hence you will have a very tough competitors bidding for the converting keywords! This leads to a very high cost per click, and might not be profitable.
- Find out how effective your landing page is in clicking-through. How many percent of your visitors are clicking through to see the products? If it is not that much, you might have to do lots of tuning until it works!
- Find out how effective your merchant’s sales page is. Are you convinced to buy the product yourself? If not, you might want to drop the idea.
- Find out how good the product is. It is very important to know how good the product is for the customers. Just imagine all your hard work going down to drain when the customers are busy doing refunds for bad products.
The mentality of doing Internet business is about the same as doing physical business. The main difference is with the entry barrier in the areas of startup cost and the monetary responsibility you have to bear for every action that you take. Internet business is definitely a realistic business, but it is not simpler than any physical business. Where you might have burnt your pocket for that Google Adwords, just imagine those businessmen out there who have bought TV advertisements which don’t work… The cost might be a difference of five figures!
And when you burn your pockets, you might have thought that Internet business is not for you and go off till you go for another Internet Marketing seminar again! One thing about Internet business is that the exit barrier is very low, making everybody jump out so easily without any burdens whereas physical business left you with no choice but to continue to find ways and means to get rid of the remaining goods!
One last thing to mention about making money online: It is all about taking action… Don’t focus too much on your theory while not taking your steps to implement it. Some people out there are simply paying so much on education and not implementing any at all…
Thank you for your patience in reading until this far. Probably you are really interested in this lengthy article that has made you so far in your read. Do join me and give me some comments on how to improve myself in my business endeavors working online.