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Jun 29

Building a Website or Building an Online Business? Part 2

Make Money 24 Hours a Day with Your Online Business

Make Money 24 Hours a Day with Your Online Business

I truly believe that this is the best time in all of history to be an entrepreneur. Nearly 80% of all self-made millionaires have acquired their wealth by building a successful business. Whether your choice is building a website or building an online business, there are nine basic requirements to think through. In my last post (Read it here.) I listed the first four requirements common to both website builders and online business builders and they are:

  1. Owning the right domain name
  2. Choosing a website host
  3. Launching a website on your domain name
  4. Getting your site ranked in search engines

In Part 2 of “Building a Website or Building an Online Business” we explore the five additional requirements that can turn your website into an online business.

  • Develop Laser Focus
  • Consistent Marketing Habits
  • Relating to Your Audience
  • Making Money With Your Online Business
  • Making Continual Improvements

Develop Laser Focus

“Always focus on the front windshield, not the rear view mirror.” ~General Colin Powell, Former Secretary of State

Let’s face it, if you are bouncing from idea to idea without seeing your ideas all the way through to completion, you

will have a difficult time in your business.  Your ability to focus single-mindedly on one thing at a time is a prerequisite to online business success.

Focus on your number one business objective.

Focus on your number one business objective.

Successful online business builders are masters when it comes to prioritizing.  They focus on the most important task and see it through to completion before moving on to the next important task.

“The power to focus is the single most important success skill you can develop”~Brian Tracy

Get complete clarity on your objectives and intensely focused on achieving results and you will succeed.

Consistent Marketing Habits

Marketing makes your online business run. It is the fuel that ignites sales.

The purpose for any business is to create and keep customers. Marketing is the process of generating leads. Sales is the process of converting leads into paying customers.

Lack of consistent marketing efforts is among the top five reasons why so many small businesses fail. But many of the standard marketing techniques such as radio and TV ads, direct mail and billboards besides being expensive are not effective for building an online business.

Many successful online business builders seek to capture the interest and tap the imagination of prospective customers by writing blogs on topics that interest their target market. But the key to success is consistency. Putting up a website and writing a dozen blog posts does not guarantee success.

Creating lifetime repeat customers takes a consistent effort.  Once your website is launched, be prepared to add informative content with SEO friendly key word phrases daily.

Relating to Your Audience

When I was first starting out building and online business, I hired some really smart mentors. One of the first things my millionaire business mentor asked me was, “Who do you choose to help?” Without thinking, I blurted out, “People, I’m going to help people prosper by building successful online businesses.”

After a brief but painful pause he said, “I want you to dig a little deeper. Think about the people you relate best to.  Are they men or women? Do they own a business? Do they go to church?  How old are they? Your ability to relate to your audience will make or break your success in the business of internet marketing.”

He went on to explain, if you don’t understand the people you choose to serve and how you can help them solve their problems, you will struggle. The more people you help, the more money you will make.  The bigger the problem you solve, the more money you will make.

Learn everything you can about the people you serve.  It’s really that simple. (Read my article HERE.)

Make money with Affiliate Marketing

Make money with Affiliate Marketing

Making Money With Your Online Business

My millionaire mentors taught me that the three keys to online business success are 1) find a product or service that people want; 2) aggressively market and sell the product; and 3) learn how to manage and account for your income and expense.

There are dozens of ways to make money at home with an online business. Many people earn a full-time living as an affiliate marketer. Affiliate marketers refer their website audience to products and services they have used and can recommend with confidence.

Most affiliate programs are free to join but you have to learn how to set up and market your website. Once you have a website set up you can make money with online advertising.  Major companies will pay to have their ads posted on your site if you can demonstrate a steady volume of traffic.

You can also make money at home by joining, Clickbank, Commission Junction and ShareaSale. All three are free to join and you can make commissions by promoting digital products.

Many coaches, consultants and authors make money from home by using their website to promote their services and information products.

Making Continual Improvements

The Japanese have a term for making continual improvements–

Kaizen

The literal translation of kaizen is “to become good through change.” While some business coaches and consultants advocate drastic changes in order to improve, coaches skilled in the art of kaizen take more of a continuous, long-term approach to improvement.

As little as a 1% improvement in key performance indicators can make a significant difference over time. Keep in mind, marketing your business on the internet is not static; it changes all the time.  What worked a year ago with SEO may not be as effective today. You simply must stay updated on marketing techniques and strategies to keep your business progressing.

Thanks for reading this article! If you have found it to be helpful, please feel free to share your comments with others.  And don’t forget to forward this article to your friends!

 

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