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Starting an Internet Based Business – Why You Should Start Now!

In these uncertain economic times, starting an Internet based business might be the very best thing you could do for yourself and your family. Whether you need to make an extra few hundred dollars a month or are looking to fire your boss and leave the rat race behind, starting a business online is a great choice. With low startup costs and the ability to generate income relatively quickly, there is no better option for creating additional income.

Building an Internet business also has another major advantage! The Internet allows you to quit trading your time for dollars. If you have a regular day job you are trading your time for your pay check. Not that there is anything wrong with that, however, you only have a limited amount of time that you can trade for those dollars. Even if you get a second job, you are still limiting your income by the amount of time that you have that you can work.

When you build an Internet business you can do the work once and get paid for that effort over and over again for weeks, months and even years. You can create residual income that keeps flowing long after you have done the initial work. Now you have the opportunity to repeat your efforts and consistently generate additional income streams.

This is possible because most everything you do in your Internet business can be automated. If you are selling digitally delivered products you can automate the entire process from getting the orders and collecting the money to delivering the product. This can be done 24 hours a day, 7 days a week whether you are at your computer or not. You can also automate the process of building a list of leads and staying in contact with your leads to build a relationship that will eventually turn many of those leads into customers.

Starting Your Own Business Online – The 5 Gold Rules

If you want to start your own business online, you should do it following a proven set of rules in order to avoid the mistakes done by the majority of new internet entrepreneurs. This set of rules is not a magical formula that will make you millionaire overnight or become fabulous rich in a few months.

Nevertheless, this set of rules allows you to setup an online business that will create value for you and for your customers and will let you create a stable and long-term source of income.

Before I tell you about the five rules that allow you to start a journey to a successful online business, you must understand that starting a business online is simple but it is not easy.

What I mean with this last statement is that a business online, in general, follows a very, very simple business model:

  1. You setup a website with your offer (products or services);
  2. You drive traffic to your website;
  3. Some of your visitors are interested in what you are offering, becoming your prospects;
  4. Some of your prospects buy from you, becoming your customers;
  5. You can send, later, other offers to your customers.

As you can see, it is a very simple business model, but for having success, you must realize that for each of the previous steps there are some skills, techniques, and knowledge that you must acquire either by learning yourself or by working with someone with the knowledge required.

To get the necessary knowledge on how to implement and optimize the tasks listed above, you can find plenty of information on the internet, free or paid, that will help you to achieve the results you want.

Regardless you do it by yourself or you pay someone to do it, it is important to acknowledge that all of those steps are just tactical, not strategic. Moreover, they are what a great number of internet marketers will try to sell you. However, what are they good for if you don not have a strategy?

I want to present to you the gold rules that you must use to build your business strategy. Once you have your strategy in place, the tactical tasks will surge naturally in the right time.

  1. Know your market;
  2. Prepare your offer;
  3. Create a business plan;
  4. Identify the resources;
  5. Know your numbers.

In summary, these are the five gold rules: Market, Offer, Plan, Resources, and Measure. You should do them in the given order. Unfortunately, the majority of online entrepreneurs start their own businesses online jumping over the first rule. Several do not observer rule number three. In addition, some others go directly to rule number four. Very few are aware of the critical importance of rule number five.

You understand now why so many people fail when they start a business online. Because the model is simple, people tend to forget that is does not means it will be easy. It is a business; you must treat it like any other business.