Would you even consider a backpacking trip around Asia without using a map?How hard would be if you tried it without a map when even with a map, you get lost sometimes?
Yet, this is what people try to achieve on
Web. They tried to start their business without a goal in mind, thus losing their sense of direction to success.
After which months or years have gone by, they are still at level, which they initially started. Frustration built up, and in end they quit. They blame their failure on Internet, which they don’t know how to use because they lack their precious map of success. (Or totally forgotten about it)
You don’t have to be like them. Following what is about to come next is… you will discover essential ten-step approach on how to conquer failure and attain success. Though it may not be everything but at least it will give you a framework, which you can build your foundation upon.
Consider following to be your quick start manual to Internet success. (Some points can also be applied to suit purpose for offline business world)
1. Choose Your Targeted Market
The most obvious mistake that most people make is that they choose a product regardless of whether there is a market for it.
If you are in this direction, then success is leaving you behind.
Successful businesses often use a different approach. They choose their market then pick a product those people are searching for. So as to speak, they sell a product which their chosen targeted leads want to buy.
Don’t even get started online until you know where exactly can you get your leads. Get targeted leads then develop a product for them.
Would you prefer 1,000 hits a day of uninterested audience at your site or just 5 hits a day of desperate and interested audience who is willing to pay any amount just for your product?
If you are smart, of course you’ll choose those who are already desperate, interested and willing audience, right? (For me I’ll definitely choose this path)
That will be all for target market, now onto second point…
2. Product Development
Product development for your choice market is important. But don’t follow rest of just joining an affiliate program to make a quick buck. There are three different and unique ways of selling a product on Internet.
a) Your Very Own Product Creation
Your great opportunity is here… Make good use of it!
You can do a lot of things with your own product like setting price, selling reprints rights to others, set up an affiliate program etc.
Don’t let your mind restrict you, let your imagination run wild! Sometimes you will be amazed at your own imaginative powers.
Thousand of online entrepreneurs have jump-started their career by having their own information products for sale.
I believe you can also do it!
Up until now, I’m absolutely sure you have learned at least one skill that you can share it with us in a “How-To” product. Maybe you know someone else has that knowledge and you could help them create a product which both of you share rights to it.
Don’t deny yourself of this chance and believe that you can’t do it. Trust me. Anyone can start an online business, it is whether they give themselves this chance or not.
b) Purchase Rights To A Product Or Joint Venture For A Product
Rights of successful products can be purchased for $500 - $20,000.
Buy rights by offering a large up-front fee for a product that you know there is already a market for it… and you will never have to care about paying royalties in future and still be able to own product.
You can also find products that are already catered to your targeted market. Ask owners for exclusive Internet rights for a certain percentage of profits or an up-front fee.
c) Joining As Affiliate
This will be a good choice if you are just getting started online for your targeted market. Plus, check commission rates for each sale.
If you earn $1 on a $20 sale, (5% commission) then forget it. It doesn’t worth a second glance because… it would take 1,000 customers just for you to earn $1,000 in profits. You won’t make it big like this!
Try to look for commission rates of 25% or higher with higher price products.
3. Create a UBP
Always have a Unique Business Position(UBP) for your products and/or services. Many companies are just copying one another for their products and this don’t reflect well on them.
If you follow them, you will get to nowhere as there are already a lot of similar site with same products or services for your customers to choose from.
Your products/services will have to be outstanding and exceptional. You can provide what your competitions do not have. For example, having better guarantees, better customer service, more technical support, faster shipping, or lower prices etc.
Be creative so that you can be special to your customers as compared to others and don’t forget to tell them why.
4. Choosing The Right Domain Name And Hosting Company
Choosing right domain name that describes your company, UBP, and offer is often a headache.
Points to take note are: short and descriptive is good and avoid using dashes or misspellings of your products. If not, people will tend to leave out part of your domain name and causes someone else to get that free traffic.
Hosting is also a problem. I personally recommend Ipowerweb since they provide a multi-purpose plan for whatever uses. They had excellent customers support, which often tend to your problem on same day so you don’t waste precious time.
