Tuesday, May 11, 2010

Start Your Own Internet Business In Just Seven Steps

This article is another perspective for folks who are interested in starting an online business venture. There are actually many ways to go about this and it’s a good idea to spend a month reading and researching before taking the leap.

Having said this, if at any time you feel a surge of genuine inspiration you should take action on those feelings!

The decision to start your own Internet business requires motivation, an open mind, and a desire to better yourself. So if you’ve already arrived at the decision to move forward with the idea, congratulations!

This brief article will give you an overview of how to start your own Internet business. It is then recommended that you check out the resource box for more specific information pertaining to your exact business blueprint.

Start Your Own Internet Business: Step 1

The first thing you’ll need to do is define your core objectives. Do you want to generate x amount of extra cash flow per month, offset your vehicle payments, or quit your day job?

Decide exactly why you want to start your own Internet business in the first place and write this down. You may even want to display your core objective in a prominent place in your home office so you can refer back to it if the going gets tough.

Start Your Own Internet Business: Step 2

The second step is to determine realistically how much time and money you can allot to launching and maintaining your business. Can you devote two hours per day, 40 hours each week, or weekends only? And are you prepared to invest $50 per month, $200 one-time, or $500 now and $100 per month thereafter? Whatever you can/will afford in terms of time and money should be noted in the beginning.

The figures above are totally hypothetical. There are no clear right and wrong time and money requirements, although the more you are willing and able to invest the more likely you will be to succeed.

Start Your Own Internet Business: Step 3

Your third step is to decide whether you’ll get help or go it alone. Is there another person you’d like to partner with? Are you willing to invest in a home study course or hire a mentor? Or are you willing to research your own study material and run the whole show yourself? This is totally your decision to make, and should be based on your personal preference and objectives.

Start Your Own Internet Business: Step 4

Your fourth step is to decide what kind of business you’ll launch. This might take some time to figure out.

You can start by making a list of your skills and interests. Then come up with a few possible business ideas for each listed item.

At this time all you need is a general idea or two. You’ll prove or disprove the worth of each idea in the next step.

Start Your Own Internet Business: Step 5

Your fifth step is to research the validity of your idea(s). You’ll want to find out if there is a real market for your new business idea, i.e. whether or not there are people willing and able to spend money for products and services related to your idea.

You can use a keyword research tool to find out if people are online seeking products and services like yours. These utilities are not perfect, but they give you a great starting point.

And of course you can have a look at what existing businesses are doing, relative to your ideas. If you can spot a few good-looking sites already selling products and services along the lines of what you’d like to do, this means a paying market already exists; congratulations.

Start Your Own Internet Business: Step 6

Your sixth step is to decide how much of the work you’ll tackle yourself, and what you will outsource to professionals. Will you build your own Website, or hire a pro to do this for you? Will you write your own ads and sales letters or commission a copywriter for these tasks. Will you handle customer support or get a help team to take care of this for you? You may want to do everything yourself at first, but you should look into getting some help as soon as possible.

Start Your Own Internet Business: Step 7

Your seventh and final step is to roll up your sleeves and get to work! This is where most people fail. Planning and talking about your venture is one thing, but whether or not you’re ready for real action will determine your ultimate success or failure.

Just remember being an entrepreneur is about always learning and growing. So get out there and start moving the ball forward, but know you can always ask for help or invest in new education along the way.

Be sure to also check out my related review on the best Internet marketing course for new and intermediate entrepreneurs.

Start Your Own Internet Business

I’ve recently had a ton of requests for good, step-by-step information on how to “get started”. I actually thought I was targeting this blog and ezine toward people with at least modest experience but clearly I need to backtrack and be more aware of my readers who are very new to the realm of online business.

With that in mind I’ve put together this solid snapshot overview of what you need to do to get started with the Internet marketing business model. Please note two critical factors before reading this post:

  1. There are few absolutes in business and there’s no way to capture everything in one article.
  2. I define the “Internet marketing” model as follows: Using direct response Websites and content-rich Web logs (like this one) to sell products and build targeted opt-in databases for follow-up promotions.

Other entrepreneurs may define the model differently but this is my angle and it’s what the following material is written toward. I’ll keep this article as short and to the point as I can and I urge you to bookmark the page if needed.

Getting Started

Your Idea

The first thing you’ll need is an idea. Notice I won’t be saying a thing about “niches” in this post because that’s a specific point of conversation that you may or may not ever choose to have. Your idea will be basic and will flow to the tune of who you’d like your business to relate to.

Make a list of the topics you enjoy. What are the things you could spend hours each day talking to people about?

Be honest and don’t hold back. Avoid thinking in terms of viability at this time just knock up your list of enjoyable topics.

Here’s an example list of stuff I like off the top of my head :

  • philosophy
  • health & fitness
  • money (crisp green paper and shiny silver bullion)
  • animals of any shape, size, or species
  • writing
  • humor
  • convincing people that I’m a smart dude
  • helping people overcome their addictions

I could go on but you get the gist. I’ve owned profitable sites built around every one of these topics at one point in my career; some I still have and others I’ve sold to other entrepreneurs.

Look at your list and ask for each item:”Are people buying products and services related to this topic right now?”

For example my first item is philosophy and yes people are definitely buying information on hundreds of different belief systems and points of view at this time. My last item is helping people overcome their addictions and again, people are buying all manner of products relative to this, from nicotine gum to tips on how to quit chugging coffee.

Spend a few minutes listing some possible retail scenarios around each list item. Could you sell e-books, software, physical items, or services related to your areas of interest?

Finding A Model

After you have a general idea spend a couple of hours using your favorite search engine to find out what people are already buying and selling within the range of your desired topics. For each item you listed just hammer out half a dozen or so keyword searches and take the time to browse the first few pages of results.

What kind of commercial Websites can you find in your categories?

If you can’t find any evidence of buying and selling related to an item it’s probably no good. Frankly it’s hard to imagine this scenario but if you can’t find evidence in the search results that products - even information - are being sold related to a point of interest it likely means there just isn’t a valid market.

Focus on the areas where you find commercial activity. If you like frogs and people are currently buying and selling stuffed frogs, books on different varieties, info on how you can get active to support research into why these amazing little critters are vanishing from our earth, and even Kermit t-shirts, it means there is a viable marketplace.

Spend some time jotting down your ideas for a general business model based on what you see others doing and based on anything you have learned from me or other marketing writers.

Do you like the idea of running an informative blog and recommending some great products to your readers?

Would you like to add a powerful sales page to the mix and offer your own product or maybe an item you acquire the resell rights for?

Of course you’ll need to plan for an ezine or newsletter and some kind of free gift to entice people to join your mailing list.

Maybe you could set up an affiliate program for your main product that allows you to seek out joint venture partners and pay them a nice commission for helping you promote.

IMPORTANT NOTE: It is not important that you have an expertly designed plan at this time. You just need some kind of idea to run with.

You’ll recall at the start of this section I told you to think of who your business will relate to. It’s key that you remain aware of the people who will make up your target market because everything you present will need to have a real impact on these folks and compel them to enter your world.

Laying The Foundation

In-Depth Research

Here is where you’ll need to follow through with some in-depth keyword research. There are a number of good tools you can use to find out exactly what people are searching for online related to your areas of interest.

For instance both Keyword Discovery and the Google Keyword Tool are superb. You just start entering the phrases dealing with products, services, and ideas in your chosen area and the keyword tools will give you info on how many people are searching these terms plus even suggest other terms for you to try!

You’ll use this data to get very specific about the products you’ll sell and how you’ll set up your business. Depending on the competition you discover this phase will also help you identify the methods you can use to promote.

The Basic Tools You’ll Need

Once you have some idea to work with, you’ll need to jump into the basics. You’ll need a domain name, a good hosting account, reliable email autoresponder for building your list, and you’ll need to get your template and site content built.

You can choose to tackle all this yourself or you can find professional help. I recommend hiring others to help with the groundwork but that’s a call you’ll need to make for yourself.

At this point you’ll have a slew of questions. And if you look you’ll find a dozen answers for every single question you ask.

It’s important not to get overwhelmed at this point and just trust your gut, commit to a course of action, and take it!

Here’s the simple truth that no Internet marketers seem willing to accept: You’re probably not going to hit a home run with your first venture.

You might make some money, but a year after setting up your first business you’ll be a completely different person that you were the day you took your first steps. This is the unavoidable nature of any business so just get over it and get to work.

It’s All About The Process

Of course you will also need to enhance your knowledge on traffic generation, good sales copy, and general marketing and selling practices. As an entrepreneur you need to commit to a journey of constant education, always refining your approach and striving to better yourself.

To this day I still invest money in books, audio courses, and even seminars and coaching when I’m in the mood. And the people I consider my mentors also invest in coaching and continual education!

Consider this: I now earn a great living from home, but this did NOT happen suddenly overnight as the result of some boxed business system I bought and studied!

Please stop looking for some kind of magic system and just concentrate on the sometimes challenging process of becoming the entrepreneur you want to be.

Feel Free To Cheat!

In marketing it is a FABULOUS idea to copy what someone else is doing if this other person is having a good run of it. If you see something you like feel free to try and imitate it!

In Summary

So to recap what you need to do is find some things you enjoy and connect these general ideas with existing markets where people are already spending money.

Next, you’ll look for specific ideas on what to sell (i.e. what people are looking for and buying right now) and how to set up your Website network.

Third, you’ll find yourself a good domain and start building your site (or have someone build it for you).

And you’ll commit to learning the finer points of marketing on the fly.

You see it is MUCH easier for someone like me to help someone like you if you at least have a basic site and idea to show me. And considering your total investment for a site can be pretty minimal there’s no big loss for getting started and then adjusting your course as you go.

I’ll be covering some more detailed points on business building over time. In fact this year will be heavily focused on the powerful basics and delivering a good deal of excellent info through this blog.

For folks who want a really robust course on EVERYTHING you need to plan, build, launch, and run a profitable Internet marketing business I highly recommend the Insider Secrets” course.

This is a full home study course that’s delivered right to your door. You’ll get two ring binders and a suite of CD/DVD lessons, plus whatever great bonus lessons they are currently featuring. The thing about this course is that it really goes from the very beginning all the way to the final processes and leaves nothing unturned.

It lacks the hype and nonsense you’ll find in many guru courses. And for this reason I’ve heard many people say it’s “too basic” but here’s a CRITICAL point you need to get:

You aren’t going to see a burning bush, an angel of god, or any other kind of profound message telling you “this is the way”… it’s going to be up to you to get started already and put an end to all the piddling and waiting. Internet marketing is “pretty basic” and that’s exactly why people looking for a get-rich-quick joy ride don’t make it in this business.

Again here is the best home study course for people wanting to start an Internet marketing business. If you can’t swing this right now just keep coming back to this blog and be sure you are subscribed to my list so you can get future lessons/articles.

The fact is if you’re willing to spend a lot of time reading and studying you can learn all the basics without paying a dime. The internet marketing home study course is great for people who can afford it but understand I’m not telling you that you’ll fail without it. ;o)