The internet is filled with people telling you how to make millions online but how do you sift through the get rich quick schemes and the real genuine business guides to making money online? First off, having an online business takes work just like any other type of business. You need to do business research, identify your competition, find a niche market that you can capture and then put out a great product or service. There is no such thing as a proven way to get rich without putting in time and effort, however the wonderful thing about an online business is that success can be counted in months, not years like a brick and mortar business.
One of the biggest reasons why it’s enabled individuals worldwide to be successful regardless of background or education or wealth is that the market is incredibly huge and there’s a very large market for nearly every conceivable item. It has opened up an amazing entrepreneurial option for millions of people worldwide. The key simply comes to doing your research, knowing the tricks of the online world and how sales are generated. Those are all far too big of a topic to cover here but in future articles I’ll break it down into greater and greater detail, every aspect of online marketing and how to be successful at it.
However, let’s start with why making money online works;
1.It’s all in the numbers
There’s billions of people online everyday, in fact there was a billion people on Facebook the other day, that’s just one site! Though obviously a very popular one. Let’s just say that you have a great product whose market for it is ten million people, which is a pretty reasonable number to expect. You’ll be able to target every one of them through Facebook, Google adwords, email, online searches and fairly quickly you’ll be able to get yourself in front of every one of them. Let’s just say that 1 percent of them love what you have and decide to purchase, also a very reasonable estimate as industry average is one to three percent conversion or purchase. If 50,000 people, which is 1% of 5 million, bought your product for just $10 that works out to $500,000 in your pocket! What if 2 percent bought your product? What if you sold it for $49 instead of $10? What about all the additional add on products you could sell these people? You get the idea. It’s very conceivable and a realistic expectation to be able to sell a well thought out product or service for millions over just a few years. Doesn’t that sound like a great reason to get into an online business already?
- Low start up costs
Starting an online business doesn’t have the massive startup costs that a traditional business does, you typically don’t need any other employees other than yourself except for a few project based part time staff. Getting a domain is far less expensive than renting a large space, building a site is less expensive than building out a storefront and since you can do everything from home your commute will be probably as short as you’ll ever have. The fact is you can start an online business for very little money, the greatest investment you’ll make will be your own time and effort. This is one of the greatest factors to opening up the world to entrepreneurs, great ideas and the fortitude to see their idea through rather than big money is what makes a business succeed online.
- It’s a giant market
That’s an understatement! The internet is absolutely huge with a market for every conceivable niche. Every tiny, odd, unknown or just simply weird hobby or interest probably has hundreds of thousand or even millions of people on the internet that are passionate about the exact same thing. Every problem that you have, every solution to a problem that you’re looking for, there are almost certainly millions of people online looking for exactly the same solution. This is how millions of people are already making money online, they’ve found a need for a solution to a problem, solved it and can show people how to solve it and then charged for it. Time and money are the two items that humans cherish most, save someone both of these by already having a solution to a problem and there will be millions of people that will pay you something for that information. The internet’s size is what determines the amazing opportunity that we all have right now to profit from it.
- What you don’t know can be outsourced
Worried that you don’t know computer code? You have no design skills and can’t write any content better than a grocery list? It doesn’t matter because there’s millions of people out there that have that specific exact skill that you’re looking for and you know what? They’ve got their own business working from home and doing what they’re very good at! There’s people all over the world that can help you with every aspect of your business and many times for a very reasonable price. There’s professionals that are quick, have very little overhead or live where the cost of living is far less than ours which means that you can get fantastic work done for a fraction of what you’d expect to pay.
- Success can be ramped up quickly
This is one of the most amazing things about the internet. Once you’ve tested your sales funnel, your landing page, your facebook ads and your google ads, your email etc (we’ll talk more about all this later) and you know that they are successful, people are reading them and clicking through to your offer, you can ramp up all your marketing overnight with a few clicks. You can literally reach hundreds of thousands of people almost immediately, get your message in front of your target market and do ads and messages specifically targeted to small groups within your target market for an even better response and more money for you.
These are just 5 reasons why you should start thinking today about creating your own online business, you can finally have control of your income, work when you want and from anywhere in the world you like. Start thinking about what unique things you bring to the world right now.