I see a lot of new internet marketers asking questions on forums about how to make money online and in many cases it seems like they are getting ahead of themselves. Before you worry about how to make money, here are 10 questions new internet marketers should be able to answer ‘yes’ before they start considering the more advanced topics that are the realm of full-time internet marketers.
1. Are you fully aware of the difficulties of working online? One of the most fundamental mistakes new Internet marketing aspirants make is to cling to the get-rich-quick vision. It just doesn’t happen that way and if you think it should, you’re setting yourself up for some serious frustration. Making money ‘on autopilot’ is a good idea, but it really only happens when you’ve been able to work hard to build a successful business. This is equally applicable to offline businesses.
An online business is something that runs 24/7. It’s hard, demanding, fiercely competitive, and stressful work. You will need to be 100% committed to your business, have a solid plan and strategic advantage figured out and a great understanding of the ins and outs of the business before you start or your competitors will kill you. I know I would if you tried to take me on and there was some weakness in your business.
2. Did you have a full-time income before you quit your job? One of the best ways to test your resolve and ability before putting your home and grocery budget on the chopping block is to start part-time and hold down a full-time job. It won’t be easy, but it will help prepare you for the “real world” of online business.
Consider Mike Filsaime, one of the most famous contemporary Internet marketers who found success while being a full-time, well-paid car salesman. He quit his job only after he was making over $10,000 a month and getting more from his online business than his full-time job. There is a lot to learn and you don’t want to be learning when you need to be winning. Are you familiar with HTML, scripting, website building, autoresponders, PPC, SEO, etc.
3. Have you stopped subscribing to every new information product and started ‘doing’ something other than reading endlessly? There are hundreds and thousands of information products available online for free and paid, and they are good when you start to do your research. But after buying a couple of software eBooks and signing up for some good newsletters, that’s all you need. Now stop researching and start working. At the risk of sounding like a broken record, there are no magic formulas in Internet marketing. It’s hard work, determination and a willingness to do what other people won’t do that puts you over the top. It’s no different than being in the offline business world.
4. Have you noticed that there is no ‘secret formula that gurus won’t tell you’? That is, have you learned to recognize that internet marketing is marketing and marketing is twist and exaggeration? At first, you can be forgiven for buying a new product because you made wild promises that seemed plausible based on the evidence presented. But there is no ‘secret’. It is specialized knowledge and a good trading strategy that makes you successful. If you’re still being sold by spin, then you’re not ready.
5. Have you decided which method of Internet marketing you will follow exclusively to begin with? There are many options here. Are you going to write an ebook and sell it through affiliates? Are you going to build AdSense sites or affiliate yourself and get people to sign up for a list? Knowing your exact method is what will give you focus when the going gets tough. I once heard someone talk about how you have to be able to explain your entire business model on the side of a napkin before you can focus enough to succeed.
6. Do you have friends online? This is important in the online world because sitting at home at your computer writing articles or emails or creating AdSense sites gets lonely. Very lonely and boring. And unless you are a member of a good forum where you have met a few people, you will find that the hours will be very slow and difficult. There’s nothing like getting an instant message from a friend in business asking how you’re going to get on with it.
7. In the same way as the previous 6, do you have a good mentor? This is essential if you want to be successful. Ultimately, it should be someone who is experienced and successful at what they want to do. Someone who is willing to share their knowledge with you personally and answer your questions. You may have to pay for this, but it’s worth it if you do it. There are some questions that you simply need someone who knows to answer, and unless you want to get numerous useless answers from other forum newbies, then you need to know someone who will give you their Skype username and let you call. them at all times.
8. Do you have an organized system for the administrative part of your business? Do not fool yourself. You will need to keep many records: domain names, hosting accounts, email accounts, usernames, affiliate links and accounts, bank accounts, credit cards, etc. etc There is a lot of paperwork involved and while this can be kept quite organized on your hard drive (don’t forget to back it up!), you need to have a paper system for taxes and possible business audits. I mean, you didn’t think you could make $10,000 a month and not get noticed by the tax authorities, did you? Oh, and get acquainted with a good accountant and lawyer. You’re going to need them.
9. Can you stay positive and optimistic even in the face of disappointment? This is just one of those essential emotional elements that all successful entrepreneurs have learned to develop. It’s just not going to be possible to stay ‘up’ all the time, but you need to know how to ride through the bumps without losing hope, confidence, and, well, the plot. This is where most new internet marketers give up.
10. Do you have a good personal reason for doing what you want to do, even if it means you wouldn’t make any money doing it? This is a tough question. The main reason people are in this business is to make money and that is absolutely the worst reason to be doing anything. There is very little passion that you can put behind the idea of making money just for the money. And you need passion to compete with the greats of Internet marketing. They are in it for reasons that go beyond making money. Maybe it’s just replacing a job you hate or being able to spend time with your family, but preferably it should be something that really relates to your product or service. It’s the “why” behind your emails promoting an affiliate product. Why that product, why the email, why buy through your affiliate link. The more you can add here, the more work you will do and the more success you will have.
If you can answer these questions with a resounding yes, or even a squeaky yes, then you’re probably ready to start digging into more advanced Internet marketing-related topics. It’s not an easy life, being an internet marketer. In fact, when I first started working full-time on the internet, I was working twice as much as I did at my full-time job for half the salary (yes, remember that you will lose all of your full-time income when you quit and retire). I’ll miss).
