OPPORTUNITY TO LAUNCH A NEW BUSINESS

You can launch a new business based on a hot market and use profits from it to finance your entry into other markets. When profit potential of hot market starts to fade it will only be a portion of your total income.

For example, I recently read about a new company launched in 1998. The business started by selling a software product owners developed to find and correct Y2K problems. Sales were brisk and they used profits to develop other new software products NOT related to Y2K. By time Y2K market vanished they were getting most of their sales from other products.

A NEW PROFIT CENTER FOR AN EXISTING BUSINESS

You can also diversify an existing business into a hot market to take advantage of its profit potential. When profit potential declines you can decide whether to abandon market or continue to operate it as a "normal" profit center.

I know several marketers on Internet who regularly do this with new affiliate programs. They get in early and vigorously promote program to quickly sign up a lot of new affiliates. They stop special promotions when competition gets heavy but continue to offer program as one of many services they provide.

Try to spot emerging hot markets. They offer a profitable business opportunity with minimum risk -- especially if you can get in early. When you find one, use it to launch a new business or add it as a new profit center to your existing business.

This isn't for just one type of business, any business with an online presence should be doing this and can because of it's simplicity. If you are a freelance artist, make a list of customers and interested prospects to send an e-mail to when you put a new piece of artwork up for auction. If you are a marketing consultant, make a list of people who have contacted you looking for advice or have purchased training materials from you. The list goes on and on. Here's another great tip, If you want to let your e-mail list get to know you so they develop more trust for you then publish a newsletter every week, two weeks, or every month and give free tips & advice. This also presents more advertising opportunities without seeming like you just want sale.

I hope this article has given you some insight into online business and gives you more success on your road to becoming financially independent. If you have questions or comments fell free to contact me at my personal e-mail address below.