Not Earning Enough Money on Your Online Business?
Does this possibly ring a bell for you? Most beginning online marketing mistakes start with the assumption that one can start an online business for free and soon, money will be flowing into your bank account without much in the way of investment.
While it is true it is way cheaper to start an online business as opposed to a brick and mortar business, I promise you that it is going to cost you. Notice that the word ‘business’ is a part of the term ‘online business?’ Guess why? It is because at its core it is a business and all businesses need capital. That is another term that means you had better bust out that wallet.
Since you are online, it might be helpful to have a computer. That will cost some money. You’ll then need to buy a domain and also need to pay for monthly hosting of the domain that you will attach your website onto. Customers are your lifeblood so you should probably spring for an autoresponder to build your list of prospects. These are the basic but critical fundamentals to setting up an online business.
Word of warning here. Do not cheapen out and build your web page on something like Squidoo. This company became notorious after thousands and thousands of marketers built Squidoo lenses and one day woke up to the fact that the company changed their terms of service and decided to shut down. A lot of hard work went to waste when that occurred.
The bottom line is you want to invest in your business and retain control over it. It really depends on what your funding stream looks like as to how you bring that capital in. If you are new to online marketing and don’t have much to spare then you may wish to provide service online and generate an income stream first before you start the online business.
I know a lot of individuals that have used freelance websites like Upwork.com and Fiverr.com that will give any newbie a chance to make some money online. Although you will be trading hours for dollars, you’ll be saving up capital for your own business.
On the other side of the coin, there are the beginners who buy and invest in products and services that are way too costly for them. Beware paying costs at annual prices, you do NOT need to pay for an entire year all at once. Flip over to the monthly option and it will be less of a burden on you. If you indeed end up wanting to keep it then go ahead and spring for annual payments once your capital stream is flowing.
Another mistake is assuming that you need the most expensive tools to ensure your online success. One good example would be paying a hefty sum for services like ClickFunnels and Infusionsoft. They are no doubt awesome services but you don’t need them when you’re starting off.
Affordable options exist like Thrive Themes or Builderall to build your sales pages, etc. and Aweber or GetResponse which provide similar services as Infusionsoft, just without the bells and whistles… and the price tag which will make your eyeballs hit the floor the first time you check the pricing. Once the money starts coming in steadily and you have room in the budget for it, you can go with the better and costlier options if you think you need them to take your business to the next level.
Another tip for newbies is to watch your expenses. The one thing that is going to be hard to fight against is buying every new “Make Money Online” program and guide. The challenge will be to only buy things that are going to take your business to the next level without making it feel like you are constantly running after the shiny ball.
Thousands of marketers have spent gobs of cash on untested products and regurgitated products that never amount to anything. The ‘Make Money Online’ niche is unfortunately lousy with products like this and I wish I could say that is the exception, not the norm. You must be careful here.
Be thrifty and careful with your online expenses and only pay for what you need to in order for your business to get into the black. Warren Buffet is famous for this quote that applies in this instance, “Price is what you pay. Value is what you get.” Don’t forget it.
If you are looking for, dollar for dollar, the best platform for internet marketers on the face of the planet then look no further. It is the platform that finally bought my costs under control in my internet business.