The keyword here is BUSINESS!
Whether your goal is to create a part-time online business or take the plunge and make it your full-time source of income, it must be treated like a business – not a hobby. One of the primary reasons that people fail at online marketing is that they don’t treat it as a business.
For some reason, many think that by posting an affiliate link on some social media site, the business will just flow in. This is just not the case.
Like any business, there needs to be a plan. There needs to be a strategy. There needs to be a budget. And there needs to be a way of monitoring successes and failures.
And…
Although the start-up investment is much, much lower than most brick and mortar businesses, it still exists.
In this day and age, online businesses can thrive on their own, however, offline businesses now require an online component to succeed. In fact, most brick and mortars covering a wide range of products and services ranging from department stores, car dealerships, and industrial supply stores, to hair salons, lawyers, and landscaping companies, require an online presence to succeed.
For our purposes, we will be creating a true online business where all transactions take place online.
A website alone does not constitute an online business. Many websites are created solely for the purpose of providing information. Examples include a travel blog, a wedding announcement blog, a cooking and recipe blog, and many more.
An online business, on the other hand, can be informational, however, the ultimate goal is to sell something. A recipe blog can become an online business if it offers a cookbook or cooking utensils for sale. A travel blog can quickly become an online business if it promotes specific resorts, airlines, or even luggage.
An online business is not a job. In fact, those who treat it like a job will get exactly that. At the outset, your budget may be limited and you will likely be required to work in the business. This is actually not a bad thing because you will gain an understanding of all the moving parts.
Additionally, you have to develop the mindset of a business owner – no matter how large or small your business is. You’ve got to be prepared to think on the fly, be able to ride the ups and downs and be willing to give up the security of consistent paychecks and other company benefits.
I’m certainly not trying to paint an ugly picture, but these things are real, and those who persevere reap the huge benefits of success.
The ultimate goal, however, is to generate enough revenue allowing you to outsource most of the day-to-day functions. You want to become the manager of your business where you are working “On Your Business, Not In Your Business”. If you don’t know when to let go and delegate, the company will never grow, and you will become an employee in your own business.
Your ultimate role should become one where you develop the vision, create the ideas, and pay others to execute them. This is the key to living the “Internet Lifestyle”.
Do it once and get paid over and over for years to come!
