How to Start a Successful, Money-Making Internet Business

By Super User | Education

Sep 21
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First things to learn on the Internet

With any new skill, especially on the Internet, the biggest obstacle ordinary people just like you face is the technical aspect. One of the greatest lies ever told about starting online businesses is that you need to be a programmer, or web designer to make money on the Internet.

Truth is, you only need basic skills such as registering a domain name, creating simple webpages and getting them online. Moreover, there are many affordable courses and programmes conveniently available now to teach you how to use a PC and short-cut your learning processes. There has never been a better time in history than now to kick start your very own Internet business.

As you stare at the computer screen, remember your F.A.C.E

The secret to achieving your dreams of online success lies in 4 basic elements. These 4 elements are summarised into what Ewen calls the F.A.C.E formula.

FOCUS

The first element is called Focus. In order to do anything well, you must have focus. The problem is that we become overloaded with too much information and get stuck with too many dreams that we become uncertain of what to do. So it is important to focus on a specific thing. Once you’ve indentified exactly what you want to do, you have to focus on that.

ACTION

“A” is Action. Without focus, you can’t achieve anything. But without the action to implement the focus, you cannot get any results. And consider the Universal Law as proven by Sir Isaac Newton more than 3 centuries ago; with action, comes reaction, with every cause, there is an effect. So each time you put action onto your focus, you will get results. It is a Universal Law.

COMMITMENT

“C” is commitment. As we get busier with daily tasks and are bombarded with too much information, commitment becomes a problem in 9 out of every 10 people. As such, with focus and action, you need to commit 100% to achieve your goals.

EDUCATION

If you want to advance yourself and improve on what you’ve learnt, then you need to educate yourself constantly. Education is an ongoing process, it doesn’t stop for as long as you live. There are new subjects and knowledge to learn everyday. The world’s your oyster and it’s up to you to keep educating yourself to improve skills you want to achieve.

As competition heats up, a powerful formula is not enough

As are all businesses, an Internet business is real. For most beginners, running an online business becomes nothing more than a fruitless hobby if proper systems are not set in place. To achieve real results, you need to apply a proven system to your market and combine it with the F.A.C.E formula. A system should be broken down into 5 components. These components are based on universal marketing principles that apply to whichever business you wish to do.

Component #1: Market
The first component is your Market. You need to identify a hot and profitable market; one that has disposable income. An example would be a market you have personal passion for. This becomes your “affinity market”. The best markets to look into would be your hobbies. For example, if you love Golf, then that becomes your affinity market.

Component #2: Offer
The second component is your Offer. When you have a market, it doesn’t mean you’re in business; you need to provide an offer to your market. If you don’t, then you’re in not business and you can forget about making money online. For example, if you venture into the Golf market, then your offer could be a Golf e-book. You may want to market a simple Golf e-book that teaches enthusiasts and novices how to play Golf.

Component #3: Traffic
The third component is your Traffic. You need people to visit your offer. If you don’t have traffic, you don’t have a business. And there is no way to have a transaction on the market without people and customers, so you need to send traffic to your system.

Once you have an offer, you need to send people (lots of them) who are interested in your product to your website that provides valuable information. The most successful internet entrepreneurs usually offer free information as a start. If your readers find that information useful, they can visit a section on your website to purchase an e-book.

Component #4: The Backend
The fourth component is the backend. In business, you don’t get rich from the front end. In other words, if you sell a $30 product, you’re not going to become a millionaire! The trick, that many successful entrepreneurs effectively use, is to set up a backend system. The concept of such a system is simple. After your customers make a $30 dollar purchase, you upsell or “upgrade” them to a higher-end purchase or higher-priced item.

For example, when somebody buys a $30 e-book, you could upgrade their purchase to a $300 DVD set or even a $3,000 personal coaching programme. And this is how you increase your income, this is how you generate multiple streams of income in any business.

Component #5: Duplication
The last component is Duplication. And this is the “magic key” to unlock your ability to duplicate your business and replicate an existing system to as many markets as you wish. For example, if you become successful in the Golf business and you want to start a new business in Cartoons, what you do is duplicate your existing system in the cartoon business.

You’re not going to make a killing selling a $30 e-book

But…

There are 2 actions you can take immediately to apply these principles to kick start your online business.

First, resolve today that you will be pro-active. Instead of worrying about something such as the lack of technical expertise or whether you’d be successful or not, take action to start somewhere. It could be creating a blog (you can easily create one for free at Blogger.com) or website that offers free information people might be interested in. You could even do a simple market research on Google or Yahoo to see what people are looking for online, and think about how you can create a useful product to fulfill their needs.

Second, focus your talents and energy single mindedly on the one thing that you can do that can make a greater difference than anything else. Resolve to develop the habit of single minded concentration until it is as natural to you as breathing. If research tells you it’s viable to do a business about Pets, then place focused, concentrated effort to achieve your goals in that market.

Do not divert. Keep moving forward, work smart, but still work hard and you will get ahead!.

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