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Following my discussion on the Internet Marketing Mistakes I Made When I First Started Online, today I shall share with you .
I hope my experience can help shorten your journey to online success.
Here we go…
1. Understand The Principles Of Success
I always find reading boring until I discovered a section called Self Help in the bookstore. Since then, I became a self help junkie, reading all kinds of books and attending all kinds of seminars on success, communication, sales, wealth creation, mind power, brain power and even spirituality.
All these readings eventually led me to quitting my job, starting a few brick-and-mortar businesses and failing at every one of them.
If I had given up my dream then, I may now be another skeptic of success philosophy.
But when I turned to online business, everything I’ve learnt began to apply. Be it the law of giving and receiving, the theory of delayed gratification, the concept of focus equals to power or the idea of think and grow rich, all the principles of success that I’ve learnt are now the foundation of my online business.
Personally, I think such foundation is very important because it keeps me focused on what is really important in building a successful business (or even building a successful life), instead of simply chasing after the money.
2. Learn Programming
Many gurus suggest that a marketer should focus on driving the business and should outsource other technical stuff such as website creation to others. For me, I prefer to learn and do it myself.
I’m not trained in HTML, PHP or Javascript, but I make it a point to learn enough so that I can communicate with my programmer at the same level and do minor programming or debugging work when necessary.
The advantages of knowing about programming are as follow:
i. I can save money on simple programming work, since I can do it myself.
ii. I can respond faster to any bug report and system improvement.
iii. The more I understand about programming and its strengths and limitations, the more ideas I can come out with.
3. Build Something
The idea of affiliate marketing sounds great - making money selling other people’s product, with no worry of customer support. Hence, many internet marketers started as an affiliate.
But what I do differently from other affiliates is I will make sure that in the process of promoting as an affiliate, I build something that belong to me.
The idea of building something is very broad. You can build a list, build a reputation, build a traffic funnel, build a network of people or build a virtual real estate.
For example, if I want to promote a forex product, instead of simply posting adwords to send traffic to the product or building mini site specially for that product, I will create a forex content site or even create a forex web service. I’ll promote my own website instead of promoting the affiliated product directly.
If the product that I’m promoting is discontinued, I can always promote other similar products. The most important thing here is I’m spending my time to build something that will give me traffic in long run.
4. Go Passive
Let me ask you a question. If you can spare 1 month of your time, would you spend that month doing something that will earn you $5,000 in one go, or do something that will earn you $200 every single month?
Some people told me that they’ll choose the $5,000 option, and they will repeat the process and earn more $5,000 every month. After one year, they would have earned $60,000!
But for me, I will go for $200 every month. I will repeat the process to earn more of such income. My first month may be merely $200, but if I spend 1 year to build the same kind of income, I would have established $2,400 every month by the end of 1 year, and $24,000 every month after 10 years. After 10 years, I can stop working and still earn $24,000 every month, whereas in the first case, once you stop working, your income stops.
You may think this is an ideal situation and things may change. You are right. There is no real passive income. However, with such income, I can stop working for weeks or even months and my income will still be pretty stable. More importantly, I don’t have to worry if I can pay my bills next month. This gives me peace of mind to continue building even more websites and earn even more.
Different people prefer different ways of doing things. What I’ve presented above is what I THINK I’ve done right. You may have different experiences. Whether you agree or disagree with me, leave your comments below, so that others can decide what is the right thing to do for them.
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