Posts

How to Assess an Online Money-Making Idea

StrategyDriven Alternative Selection ArticleAccording to Google, in December of 2012, 1.44 million people searched on some variation of the phrase “make money online.” Maybe you even found this blog post by searching for that phrase yourself. If you’re reading this, you’re at least probably interested in it.

I’ve been in the business of internet revenue generation for years. I’ve done the research myself to see what type of answers Google gives you when you search on such a phrase. Often, the business models that come up with that search promise a lot of money right out of the gate – from a few hundred dollars a month to a whopping $50,000 – with the use of this or that platform.

I want to give you a little bit of expert information about the sort of platforms we’re talking about – and some stern advice. The way these platforms work is to provide a product or service that is marketable. Usually, there’s an existing parent company that offers to let you use their product and their platform. In return, you provide the marketing muscle to make the sales.

In the online business world, marketing is almost always about creating an email opt-in list. Email addresses are gold in the internet marketing business, and there are various ways you can go about collecting them, most of which rely on content. You might put out a newsletter with compelling subject matter or create a series of video blogs (vlogs). Content is the lure that hooks those email addresses right onto your list.

Once you have amassed a decent-sized opt-in list, the next step is to send out marketing emails directly about the product you’re selling. With any luck, a certain percentage of those people will bite. Sounds simple, right?

If you read the testimonials of other entrepreneurs who have used the platform you’re considering, they probably sound pretty spectacular. But before you make a commitment, I urge you to do just a little bit of due diligence. Look at the testimonials of other entrepreneurs who have gone down this path before you, and contact two or three of them. Ask them these three specific questions:


Hi there! This article is available for free. Login or register as a StrategyDriven Personal Business Advisor Self-Guided Client by:

Subscribing to the Self Guided Program - It's Free!


About the Author

Ken CourtrightKen Courtright, speaker and author of multiple best-selling Internet marketing titles, is the founder of Today’s Growth Consultant (TGC) – a two-time Inc. 5000 designee – that launched www.IncomeStore.com. TGC/Income Store partners with individuals, companies and private equity firms/fund managers procure, develop and manage revenue-generating websites at two times earnings. The company’s portfolio currently boasts over 400 websites that are seen approximately 100 million times each year. Ken may be reached online at www.TodaysGrowthConsultant.com.

How to Lead An Online Business

First and foremost, find an idea you love.

Whether it’s ice cream, bean bags, or shirts with funny slogans, find a product or service you’re passionate about selling. I started my career as a marketing executive. One day, I was invited to dinner with Japanese business associates. The dinner was a great success, and afterwards we moved to a Japanese tea house where, following tradition, everyone removed their shoes. I looked down, and I had two different socks on – one with a hole in the big toe. I sat cross-legged for an entire evening, trying to hide my foot. I’m passionate about helping executives avoid such embarrassments by allowing them to buy fine-quality essentials in one convenient place online, and have them delivered to their doorstep. Because wouldn’t it be wonderful if your sock drawer could replenish itself?


Hi there! This article is available for free. Login or register as a StrategyDriven Personal Business Advisor Self-Guided Client by:

Subscribing to the Self Guided Program - It's Free!


 


About the Author

Samy LiechtiFollowing his studies of economics and business administration at the University of St. Gallen, Paris and Toronto (earning the title of lic. oec. HSG in 1993) Samy Liechti was a marketing and communications consultant for various agencies in Switzerland and abroad, working with numerous prominent brands. Samy Liechti has been Blacksock’s managing director ever since its foundation in the summer of 1999.