Are You In The Right Online Business?
Are You In The Right Online Business?
Did you select the right online business to pursue? People that are struggling find it difficult to admit they are possibly in the wrong business. Fortunately for everyone, many bad decisions can be corrected if recognized early enough. This article is intended to help you understand the available opportunities and hopefully improve your chances for future success.
Supply And Demand!
Everyone knows that the Internet is huge. Commerce ("buying and selling") on the Internet is growing by leaps and bounds. It is controlled by the actions of the buyers and sellers. There is no traffic cop that makes decisions for each buyer and seller. The buyers and sellers are free to make their own decisions and pursue their own self-interests.
The Internet market is held in check by the economic principle of "supply and demand." Buyers behave (demand) in a way to make buying decisions that will maximize their satisfaction. Sellers behave (supply) in a way that will maximize their profits. In a completely free market economy, buyers and sellers interact to determine the price of the product being exchanged.
Why Do People Buy On The Internet?
In order to understand the actions of buyers and sellers on the Internet, the following question needs to be answered: "Why do people buy on the Internet?" Simply stated, People buy on the Internet because of the ease, efficiency, availability, price and fun of purchasing the product or service online.
What Internet Opportunities Exist?
There are many types of profitable business opportunities to consider on the Internet. The major opportunities considered in this article are:
- Join and promote an affiliate program.
- Write and sell your own electronic book ("ebook").
- Start an electronic newsletter ("ezine").
- Open an online store.
What Is Included In Each Internet Opportunity?
The following is a summary level review of each opportunity:
1. Join and Promote an Affiliate Program:
In this business, you establish a relationship with the owner of an existing online product or service for sale. You become an affiliate of the owner. As the affiliate, you are allowed to promote and sell the product or service for a commission on the sale. This can be an easy business to start. It is a good choice if you do not have your own product to sell. The owner is happy to pay the commission because your sale is revenue they probably would not receive without your help.
2. Write and Sell Your Own eBook:
In this business, you sell the ebook that you wrote. Most people believe they do not have the ability to develop a topic and write an ebook. This is an incorrect belief. You have the ability if you can think, speak and read. The basic requirements to write a successful ebook are:
- Need an objective.
- Need to identify a niche market.
- Need a killer topic.
- Need the desire to write your thoughts.
If you do not have the appropriate knowledge, you can develop an ebook by using the help of an "expert." The "expert" provides you with content for the ebook and you write the ebook.
3. Start an Electronic Newsletter:
In this business, you become the publisher and editor of an electronic newsletter ("ezine"). The newsletter can be published as often as you like whether it's daily, weekly or monthly. The frequency depends on how often you can deliver content of value to your subscribers. Distribution of the newsletter through email is generally based on an "opt-in" list of subscribers. The typical newsletter will contain: editorial by the publisher, tips and recommendations, featured article, advertisements, and links to specific affiliations.
4. Open an Online Store:
In this business, you either setup your own website store or rent a storefront site in an established Internet mall. The Internet store requires a website, products to sell, a shopping cart and the ability to accept customer payments. It is possible to have built-in traffic if you are part of an Internet mall.
Each business has a definite set of activities to be performed in order to be successful.
Your success in a specific business is dependent on how well you perform these activities.
You should select an online business to pursue based on your:
Make a complete evaluation of the opportunities available before you make a decision.
Do not expect great results if you do not get excited about your business and put the necessary time and energy into your online business!
Low interest, low motivation or low commitment will lead to bad or less than acceptable results!
Examine closely what you want to achieve out of your online experience.
Take the extra time now and it may make a big difference in your future success.
Make the right decision and you have a very good chance to succeed!
Make the wrong decision and you probably will fail like so many others!
Get my FR*EE 8-day "Internet Business Mini-Course" for a close-up look at each business opportunity discussed in this article.
Best wishes in your future online business success.
Copyright © 2003 F. Terrence Markle - All Rights Reserved FR*EE 8-Day "Internet Business Mini-Course" at http://www.QuikSystems.com/BMC/FreeBizCourse.htm
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