9a. Follow Your Passion – Online Business, IUH 2009-12, 2ND Ed, R513A

Author Notes: Reference Copy, links to Oringnal Copy removed due to the Age of the Content. See the top Blog Menu for Copyright Concerns, Some Content Removed.

passion
Dr. Don, Founder ICFO

9a. Follow Your Passion – Online Business, IUH 2009-12, 2ND Ed, R513A

Thus far; you have had the opportunity to assess your skills and develop your plan of action, or a personal action plan for doing business online. I hope you took advantage of that opportunity. Every business person, off or online, needs personal growth to help grow their business as well. Otherwise you will spend too much of your budget (hopefully profits) outsourcing these tasks to others. Take your plan seriously, implement and follow up often to check your progress.

We have introduced you to Our Internet Scams Anonymous Groups and how our members can supplement this Handbook to help you do business online while recognizing and avoiding the scams We have warned you and given examples of the various Scams that you are likely to encounter online, Spam and how to deal with it as well as Managing your email

In this chapter, we start looking at various types of online business. It is widely accepted that the more successful online marketers follow an interest or passion start their own business and have their own website.

Unfortunately, most new users are already looking for money by the time they turn to the Internet. Often is desperation they respond to the first email or site that triggers their need to make money. Admit it or not, they often are taken by scammers who are Masters in taking your money in return for false promises.

They just join this and that program as an affiliate, and never realize the real potential that the Internet has to fulfill their passion.

COMMON QUESTIONS – WHERE DO I START? WHAT IS BEST?

You have been allowed to learn more about yourself, now let us try and find a suitable business for you. Doing business online is not much different than doing business offline, except for the obvious differences; location, brick and mortar, leases, licenses, signage, business cards and letter head, etc.

It is not a simple, single step, sign up. We do all the work for you and sit back and collect your money process

What do you already know about business and it its various functions, products and pricing, sales and marketing, distribution, after sales support, etc.

You need a plan(s); plan for your business, plan for your marketing, a financial plan and a personal action plan. What do you and your business need and where are you going to get it.

Most offline business starts from an interest, a hobby or a passion. (Sure you get buy a franchise and they train you, but this is going to be your business)

Online should not be much different: What is your passion? Then Google find products or services that help fulfill your passion. Pick perhaps 3 or 4 and do your own due diligence, Join 1 or 2 and take responsibility for your decision

WHAT ARE YOUR INTERESTS? OFFLINE

In starting an offline business, it is simple; you may already have a hobby or an interest that you want to turn into a business, or you have a passion for an idea that you believe will be a great business opportunity – so you follow your interests.

These off-liners may take their business to the Internet for purposes of widening their marketing efforts. This is simple for various professional services, including specialized Doctors and Lawyers.

ONLINE

This in itself creates a full range of online service providers; designers, programmers, graphic designers, website developers, online marketing specialists, payment gateways, hosting and copy writers. eCommerce provides a fairly cheap way of gaining exposure for your product.

Just for fun; a search for Online Shopping sites = 13,000,000, while a search for Online Shopping Websites = 48,800,000 so go ahead, get your own shopping site. Of course you may have a niche product such as one successful eBay marketer that sells only “Big Men’s Clothes.”

Perhaps you are a writer; you can take advantage and ease of being a self-publisher. There is a great demand for Informational sites. Blogs, forums, online news, e-magazines, almost anything that where you are a specialist. Freelancing is an option to consider.

Even songwriters introduce themselves and their music online. Many of these free writers, bloggers, etc. are all trying to steer you to a favorite of theirs, so free is free, but do your homework.

Therefore, there are many different types of successful online businesses. For almost any product, or service that is offered, there are types of online businesses. Many of these types of online business are very successful. To succeed in any business, you must have a good business plan, be hard working, offer a good product at a fair price, and offer great customer service. WSI Corporate

THE IMPORTANCE OF PASSION

Whichever business model you choose we believe it should involve something you are passionate about. Something you love to do. Do you LOVE playing video games? Awesome, make that the focus of your business. Do you love chocolate (and who doesn’t?), but do you really love chocolate? Great, create a web business around that.

Every web business that I have ever started has been based on something I have a passion for and enjoy thoroughly. I cannot tell you how important this is. Because making money online is great, but making money online doing something you, love is even better.

I have a passion for eBusiness (hence this site). The reason I wanted to start this guide was to (yes, hopefully make a little extra money) but also to help other people start web businesses of their own. Not necessarily to become millionaires or retire at the age of 30 or any of that, but to maybe help make ends meet, or maybe provide a little extra cash so they can save for their daughter’s education, or provide a little bit of passive income so they can retire a few years early.

Not everybody who starts an Internet business is going to be able to give up their day job and to do it full time like I do. However, I am certain most of you can; at the very least, create some incremental revenue for yourselves.

When I meet people and tell them what I do, they say, almost without exception, something like “That sounds great, I wish I could do something like that.” I tell them that they can, anybody can, and you just have to be willing to try it.

When I mention this people; generally they say something like, “But I wouldn’t even know where to start.” Therefore, I put this guide together so that when people say that, I can just hand them a business card with this web address on it and say, “Now you do” ThreeBusGuide

Sure you may have an interest or an idea, but you don’t have the resources to develop them online. You can always try the same avenues of getting money as the liners; friends, family, relatives, partners, bankers, etc.

But online, most just turn to the net to supplement their income or to make a quick buck as promised by the scammers. Unfortunately, they lose to the first scam the sounds like it solves their problem

It has little to do with their real interest; their interest is making money to pay bills, send the children to college, and improve their lifestyle and retirement.

TIP: You are more likely to succeed in a business that you have some interest in and are passionate about. You are less likely to become a victim of a scam.

WHAT ARE THE BEST TYPES OF INTERNET BUSINESSES?

The Writer Asks

  • I want to start an Internet business, but haven’t yet sorted out my options.
  • I want something that has the potential to grow. I would greatly appreciate your responses. Thank U
  • Didn’t I read this elsewhere?
  • You should read ‘Rich Dad Poor Dad’.
  • You can start any business and be a success or failure It all has to do with mindset. Work on that first
  • BE — DO — HAVE Luc Arnold

FIVE PERFECT ‘SPARE-TIME’ ONLINE BUSINESSES

It does not take much time or effort to start moonlighting on the Internet. With all the doom and gloom news about the economy, there has never been a better time to make an extra paycheck online with a minimal amount of time and effort. If you have an Internet connection, you can get started on the road to having the Internet pay for your mortgage, car payment, kids’ college tuition, or even that special vacation you have wanted. Now, do not worry that you have to be a tech whiz to start a business online-

-I am a complete techno-dunce.

A perfect part-time business would have to be very easy to start, require little time and money and no technical expertise, be easy to maintain with just a few hours a week and have a proven track record with a high probability of success.

There is actually one other important criteria–it has to be perfect for you! Experience has taught me that it is different strokes for different folks, and there is no “one size fits all” perfect business. You are much more likely to be successful if you do something you find fun and interesting. With that in mind, here are five of the best ways to make extra cash moonlighting on the Internet:

AFFILIATE MARKETING

This may possibly be the absolute laziest way to make money because it doesn’t require you to have a product, make a sale or ever have any interaction with customers. This is essentially a “referral” business, or as one of my book contributors likes to call it, “passionate recommendations.” Basically, you can get paid a referral commission just for sending people to sites (or vendors) that are set up to pay affiliate fees once a sale is made. The vendor does all the selling, fulfills the purchase and handles any customer service issues–and you just collect your check….not bad!

Some people choose affiliates based on whom or what is paying the highest commissions and that certainly is a viable option. Most people opt to choose products or goods they are passionate about so that the process is much more fun and engaging.

Insurance and credit card companies pay high commissions for referrals that convert to customers ($40 to $150 and up), but the competition is fierce. It may pay well, but is this something you’ll enjoy doing for the long haul?

Alternatively, you could take a look at your hobbies and other things you enjoy and see which affiliate programs are good matches. As always, do your research to verify the viability of your market. A good place to look for ideas (and downloadable products just waiting for an affiliate) is ClickBank.com.

BLOGGING

This business is best suited for folks who enjoy communicating about a particular subject. Think of blogs as journals of sorts. Although you can have a personal blog, writing about a particular topic will have a higher chance for financial success. The range of topics is virtually endless–photography, sports cars, parenting, dieting, star gazing, the latest gadgets, Hollywood gossip–you name it, as there are blogs on just about everything you can imagine. Don’t worry about competition. Folks who read one blog are apt to read others on a topic they’re passionate about, as long as you have something interesting to say.

Once your blog starts getting traffic, you can make money passively with things like AdSense (Google’s ad revenue sharing plan) or actively by doing a little bit of affiliate marketing.

You can see both types of moneymaking strategies at SparkleCat.com, which is a blog about a person’s cat. What makes it interesting is that it’s written from the cat’s perspective and often refers to her “human.” At the top of the page are Google AdSense ads, and sprinkled throughout are suggestions for things like cat furniture and premium cat food, which are tied to an affiliate program. Pretty cool, no?

EBAY

One of the largest online marketplaces makes it a piece of cake to get your own business going. You can open an account and start making money within hours on eBay!

While I dislike that whole “sell your garbage on eBay” thing, there is some validity to it as many people get their start on eBay by selling items from their garage or attic that pre-eBay would have been thrown out. This approach is fine, but where is the business once you run out of those items? If you want to create an eBay business that doesn’t require tons of time and effort, you need to leverage products that can be sold over and over again.

This is one of the reasons I’m not a fan of the “eBay seller for these” kinds of opportunities, where you sell things on eBay for other people. You get access to stuff people want to sell, but because each item is unique you have to work to list each and every one. There’s no leverage there!

Take a look at some of the largest eBay Power Sellers and notice how they specialize in very specific products (iPods, cell phones, dog grooming kits, etc.). This allows them to leverage their efforts. A listing is created once, and money is collected over and over again.

Unlike information marketing, this business requires the handling of physical goods, but even that can be automated, so it shouldn’t prevent you from considering this idea.

INFORMATION MARKETING

We’re in the information age, and the Internet provides you with the ideal medium to exchange know- how for money. Do you know the best fishing holes? How to play guitar? The secrets to a successful marriage? A recipe for moist and delicious brownies? A trick for saving gas? Think about your career, your hobbies and your interests. Virtually anything you know can be turned into extra cash. And don’t worry if you think you’re not an expert–as long as you know more than the average person on the topic, that information is valuable.

However, if you do not believe you know anything those others would pay for (highly unlikely); you can take someone else’s know-how and make money that way! It could be as easy as interviewing a veterinarian to help you create a dog-training product. Ninety-two percent of people go online looking for information, and you could be one of the many people cashing in on selling it.

YAHOO! STORE

This business is very similar to eBay in the sense that it’s a monster-sized marketplace but more similar to a store in the true sense of the word. Think having your own retail outlet but without the hassles of rent, employees, utilities and all the other expenses of a traditional brick-and-mortar store. The neat thing is that it can be as hands-on or as hands-off as you want it to be because of companies called drop-shippers, which can do most of the work for you. In fact, you don’t even pay for the inventory until you make a sale. How cool is that? Most people think the hard part of this business is creating your virtual store, but nothing could be further from the truth. Yahoo! has made the templates and wizards so easy that, dare I say, even a caveman can do it!

The best way to ensure your success is to do your homework and research what products people most want to buy. You need to find a niche. Once again, start with things you enjoy. Let’s say you love fishing. What products do fishing folks want to buy most? (Or get even more specific, like, what are bass fishermen looking to buy?) Then the task is to find the right source of those products so you can carry them in your Yahoo! Store. In most cases, you’ll be able to pull pictures and product descriptions directly from your sources and plug them right into your store. Yanik Silver

Thanks for Reading – 9a. Follow Your Passion – Online Business, IUH 2009-12, 2ND Ed, R513A

Dr Don, Founder, ICFO

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