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My Internet Business Success Formula For Beginners – Your Proven Path to Success in 2021
To put it mildly, internet businesses are making millions and this is the best time in all of human history to jump on the Internet and make your fortune with your loved ones faster than you ever thought you could. This is not utopian.
It used to take companies at least a hundred years to go from humble beginnings to global brands. Global brands such as P&G (1837), Nestle (1866), Heineken (1864) immediately come to mind.
On the other hand, it took each of Microsoft (1975), Apple (1976), Amazon (1994) and Google (1998) less than 10 years to become household names.
Making it big isn’t limited to tech giants. People are making a killing online in fields as diverse and common as online training, fitness, and writing (aka blogging).
Take Brendon Burchard as an example. He is an online coach that started around 2009. Today it has more than 3 million students in more than 100 countries. His influence is so great, Oprah refers to him as “One of the most successful internet coaches in history.” His net worth is estimated at N22million.
Another example is Ramit Sethi. He launched his first blog in 2004 and in 2018 was featured in Fortune and Forbes simultaneously. In the same year, Forbes showed Ramit side-by-side with Warren Buffet and estimated his wealth at 25 million dollars.
Making it big isn’t just for men. Chalene Johnson, a global fitness icon, has an estimated net worth of $10 million, while Marie Forleo has an estimated net worth of $14 million.
While Chalene Johnson has been a household name as a fitness trainer for over 30 years, Marie Forleo has gained popularity over the past 10 years thanks to her Marie TV, online training, coaching and books.
The fastest, easiest, and cheapest way to make it big is to use the power of the internet. As the internet says, to succeed online, do what works. In short, don’t try to reinvent the wheel.
The internet is a paradigm shift. While it has created incredible wealth for those who manage its ecosystem, it has also widened the gap between those who know how it works and those who don’t.
Generally, whenever there is a paradigm shift, the knowledge base is reset to zero and everyone has to relearn. To learn quickly and easily, it is necessary to follow a proven method.
In order to succeed and be successful, you must follow what I call the Internet Business Success Formula for Beginners. As you know, there is order in the universe. If there was no order there would be chaos. My Internet Business Success Formula for Beginners is a short but powerful guide that shows you how to succeed on the Internet. If you follow it, you will succeed. If you don’t, you will fail.
The formula has 7 steps. There are:
Study day and night
Despite its seemingly plug and play simplicity, the internet is a complex ecosystem. To be successful you need to learn day and night because change is fast and furious, and the underlying algorithms change overnight. Reading gives you depth and breadth and keeps you green
Here are the top things to read. Read:
• How the internet is growing
• Appearance method
• How to communicate with people
• How to build a list
• How to write scripts
• How to make products
• How to make your products available
• How to make money online
Show them off and on the Internet
Visibility requires you to get your feet wet and online to get noticed and start building credibility and gravitas. Here are the things you should do to increase your visibility:
• Develop evergreen intellectual property (books, courses, study guides, etc.)
• Have a home base (website or blog)
• Have ambassadors (social media platforms)
• Have listening posts (mailing lists, social media platforms, podcasts)
• Have satellite towns/cities (guest posting, be friendly with social media influencers.)
• Platform events and develop your platforms such as YouTube channel.
• Media court
To turn strangers, visitors, friends and former enemies into loyal customers and true fans you must build relationships. While it makes sense to have a large relationship base, it’s more important to build a real fan base. Here are the things you need to do to build a relationship:
• Give away valuables, such as books and e-books, for free
• Share your influencers online
• Extend a helping hand to strangers you meet by giving them advice
• Help with specific information wherever you can, for example on forums
• Make recommendations in areas of your authority; don’t be shy
• Bring people together as a communicator
• Ask for help wherever you are challenged, again don’t be shy.
Build a Mailing List
Make building your mailing list a priority so you can have someone marketing and selling tomorrow. There is a heated debate on the internet about what comes first: the mailing list in the product. As a beginner don’t get distracted by these chicken and egg arguments. Listings and products are two sides of the same coin: your online business. Just be aware that with a list you can sell something you don’t have through affiliate marketing but a product with a list will get you nowhere. Also note that as a beginner you will not be able to do affiliate marketing. So build a list and track your product accordingly. Here’s how to make your list:
• Start a mailing list from day one (at least now you know).
• Start with low hanging, medium hanging, and finally high hanging fruit
• Create classified lists to help you organize your messages
• Use an affordable mailing or contact management system
• Invite people personally to join your list and persist
• Provide valuable incentives, such as books, video tutorials, etc.
• Stay in it day and night
Have something to offer (Make products)
Create products that you sell to add more value to your followers. People will follow you because you have something to offer. When you do, you will make money but making money should not be your main concern. When you do it right, the money will come. Here are the things you need to do:
• Equip yourself with knowledge and wisdom
• Write and refine your intellectual property to perfection
• Develop irresistible courses, events and platforms
• Manage the technology required for production
• Manage the required delivery technology
• Stay consistent and focus on perennials, evergreens
• Be professional so people know what you stand for
Learn how to market and sell online
Marketing and sales are the lynchpins that bring in the money. The most successful internet business owners excel at marketing and sales. Invest a large percentage of what you make in marketing to generate more sales and continue to grow your business. Here are the things you need to do to increase sales and marketing:
• Learn how to use marketing to grow your business
• Understanding buying psychology and consumer behavior
• Learn how to build your business pipeline
• Learn how to build and grow your sales funnel
• Learn how to create marketing scripts that convert visitors into customers
• Learn how to use social media for marketing
• Learn how to set up your landing pages
• Pursue sales in haste because sales are human but don’t sell
Key Strategies for Long-Term Success
Sustained success online is a marathon. Commit to it for the long term. Develop an understanding of how the effort is monetized online and where the money is made in the value chain. Know that Rome, as they say, was not built in a day. If you pursue an online business like a sprint or a hundred meter run, you will soon give up and fail. Here are the things you should do during this time:
• Manage and refine your winning game plan
• Manage the four phases of an online business (reading, audience, production, marketing)
• Develop a long-term vision
• Keep things green
• Break into adjacent areas of success as you become more confident
• Develop offline assets to reduce your online risk.
• Repeat and build upon principles of excellence
There you have it, the seven planks that make up my Online Business Success Formula. You might be wondering, where is the technology, after all we are talking about the internet. The truth is, technology dominates all seven steps, but technology remains what it is, enabling us. Technology allows you to scale and reach thousands online, but ultimately relationships win. So we are talking about hi-tech, hi-touch.
Over time you need technology skills that enable you to learn day and night, be visible off and on the internet, build relationships, build a mailing list, create products, learn how to market and sell online, and strategic strategies for long term success.
Knowing technical or technological aspects is important because you are dealing with machines and technology will help you measure and automate but it is not the main condition of success for a beginner.
Success on the internet is based on two magic numbers: 10,000 customer base and $10,000 in recurring monthly income. You can easily achieve both if you follow the 7 Internet Business Success Formula that I have given you in this article. Once you’ve hit these numbers, you’re ready to use the technology to scale. That will be the subject of another article.
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