LESSON THREE:

Accountants and analysts tried reasoning with public during late 1990's --- during boom --- concerning profitability of these companies that people were throwing their savings at.

Yet public was more inclined to believe those who were wanting to sell us these shams that Internet era was different. The argument went like this, "This is a new economic era where old rules of measuring bottom line do not apply."

Hogwash.

History has shown us that these people selling sham were really people looking to make millions from ignorance of public at large.

The truth is, same rules that apply to measuring offline businesses must be applied to online world of business as well.

We must always measure our successes and failures, based on how they affect our bottom line. We must use concrete numbers and measurements to make our estimations and our decisions.

We cannot sit and hope that if we throw thousands of dollars into advertising that we will see our money coming back to us.

Instead, we should measure every advertisement and every advertising medium. We should compare one advertisement against another, and we should compare one advertising media to another. If one is not working for us, we should kill it. If another is working well for us, then we should expand on it.

The truth is, without a method of measuring results, we will never truly gain advantage of learning from our successes and failures. Sure, you can guess at what works and what does not, but what if you guess wrong?

The Dot Bomb's threw money at Internet advertising and hoped that something would stick. They figured they had millions, so why did they need to worry...

In retrospect, they probably kick themselves on a daily basis. If I had squandered millions to no avail, I can guarantee that I would be kicking myself on an daily basis!

The most important lesson we can take from Dot Bomb's is that we must measure our results and make our future decisions based on proven results. If it is not profitable, don't do it. If it is profitable, then look to find ways to expand on that profitability.

Measuring success of an advertising campaign is as simple as tagging your ad with a special tracking URL or email address to provide yourself a method of tracking results gained from a specific advertisement and advertising media.

In conclusion, take whatever means are necessary to track successes and failures in your advertising and always watch your bottom line. This is imperative if you wish for your online business to be profitable. Learn lessons of Dot Bomb's, measure or perish.

Here in "Sleepy Hollow" (with one of highest unemployment rates in country) in little provincial New Zealand near bottom of world, we sell our various products around globe in response to customer needs.

3. Consolidate your business by focusing on what you do best. Don't try to be "all things" to your customer, nor try to offer too many products. Concentrate on perfecting and marketing your "best sellers" in your CORE business activities. That is area which produces most profitable results for your organization. (remember "80-20 rule" - 20% of your activities produces 80% of your results/profit and vice versa!). For us it's creative writing courses.

Now for one rather more philosophical...

4. Honour your parents, your teachers, your communities, your country and especially your family. Family is most precious of all and strong and stable family units make for a strong and stable country. Parenting, I believe is most noble occupation of all - and parents want their children to be safe on line, so supervise them closely. Teach them responsibility in internet usage... so they don't push your telephone bill sky high (as my dear boys do - but then that's price of having and educating children - a tax on sex!). Teach your children well (as Crosby, Stills, Nash ... and Young used to sing so melodiously) and wisely. Let them learn that net is a great EDUCATION tool for present and future and they could be learning "practical skills on job" and preparing for a future technological career.

5. Do not send spam (sending masses of unsolicited e-mail) - under any circumstances. You are likely to be cut off by your server. I find it rather irritating receiving "mountains" of spam and simply delete all unsolicited e-mail selling products and services... and wouldn't you do likewise; because it just clutters up your mailbox

I hope this information may be helpful to you in your internet marketing. Part Two to follow

Craig Lock http://www.craiglock.com

Craig's various books* (hard copies, CD's, "talking books" and e-books) are available at: http://www.novelty-gift.com/

Computer and internet coaching CD's (practical and easy to use) are available at: http://www.nzenterprise.com/4reel/

END OF PART ONE