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Sunday, January 20, 2008

Difficult Online Business Decisions

If you have a tendency to make most things more difficult than they have to be, you’re not alone. What I've found is that when you do not follow the steps of those who have had success before you it widens your learning curve. Granted, certain successful strategies do not work as well as they use to but in most cases the foundation remains the same.

If you have several ideas to diversify your online marketing that will satisfy the core goals of your business implementation can be overwhelming. Internet marketing strategies that cover multiple websites with different subject matter need to promote professionalism, dedication and contain content worth reading. Furthermore, to leverage multiple arenas such as

  1. social,
  2. network,
  3. article marketing,
  4. give away products,
  5. forums,
  6. membership sites,
  7. email lists,
  8. search engine marketing,
  9. affiliate marketing

…you need help. Having a forward thinking mindset is a positive starting point to achieving online business success. The next challenge can be making a working business plan out of the ideas you have written down. Your business plan should always contain achievable milestones. The most discouraging part (besides small failures) of an online business is the time it takes to generate a substantial profit.

Generating a substantial profit online is directly related to the type of business and the market for that business (not because, "there is no money to be made online"). Some of you are passionate about something that has a very small market therefore; your profits will come slowly.

A "small market" should not to be confused with a Niche; a Niche is a small part of a larger market that the big companies or suppliers have neglected to supply. There are plenty of "one hit wonder" type of websites that generate good advertising revenue for a while then start to taper off as its market becomes saturated and/or the website fails to add new original content and offers. Don't be a one hit wonder unless that is in your plan. You can:

  1. find a Niche,
  2. make a low cost report(15-25 pages),
  3. create a smashing landing/squeeze page,
  4. sign up for search engine marketing accounts
  5. ensure your ads are directly related to your landing page.

You can also apply this to large broader websites that also take advantage small segments within a broader market.

Of course if you do this and still can not generate a profit you may have to:

  1. do more research on your market,
  2. change your content,
  3. change your headings
  4. test up to 3 different landing pages and ads.

In fact most successful Internet Marketers start off split testing to ensure they achieve the highest conversions possible.

As I am finishing up my "give away report", building my email list, and starting to create a paid ebook with audio and video instructions I intend to get involved in Joint Ventures with my peers in the same or similar market. You too should partake in Joint Ventures after you have determined who your target market is, if they purchase and have good things to say about your product. When offering a joint venture it is best to have some prewritten content for your affiliates to use for their email lists and websites.

Although failure is an unavoidable occurrence, success is planned and much sweeter after you have failed a few times. Your achievable milestones become part of your success. It would be nice to have every success be exclusive to making a profit but it is not. Success can be in the form of finishing your first report, ebook, eCommerce training, getting your site up and running, your first few visitors, blog comments, conversiones, etc. Having numerous small successes will build your confidence to move ahead with your difficult online business decisions.