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Having cleared the room of limp,
scared, “I need the money but I don’t want to do anything for it, take
care of me” types with my disclaimer…..let’s have a frank discussion
about making money on the internet.
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First...boiled down...here
are 4 questions to consider:
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Do you think a fortune can
be made without personal investment? i.e., do you believe the ads
that shout “I made $50,000 my first month in this mystery (we
can’t tell you what it is) business without any leaving my home,
doing any sales or marketing or changing my life.”
-
Do you understand that the
internet is the best way to add the greatest market impact at the
least cost if you have a competitive product or service? i.e.
something very unique or exclusive that is 18 – 24 months ahead of
competition.
-
Do you understand that
traditional internet marketing is expensive, requires skills of a
specialist and takes anywhere from 6 – 24 months to execute,
depending upon budget?
-
Do you know that internet
sales continue to rise at annual growth rate of 20%+ for the past
4 years while in-line or store sales languish, depending upon deep
discounting with closings predicted to be up 25% in 2008?
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So what am I saying…simply this…The
internet is a break through media if used as a break through. If it is
used as simply a tool to automate a standard business model…than it is
outdated and will not work without…big bucks, high risk, and enormous
amounts of resource time, i.e. big bucks.
Having evaluated many different
approaches from the self ordained web marketing gurus with the “secrets
of the universe” e-books, to the “same as me” affiliate programs, to the
seo “get the rankings but no sales” specialists, here are some words
of wisdom for anyone who wants to leverage the internet to make
substantial, sustainable income for life.
While this is not an exhaustive
list, I think these are the basic questions to ask, as anyone seriously
evaluates internet businesses::
Business
Model
1. Is
the model a complete business model or a half-baked opportunity that you
have to figure out how to market it and compete with everyone else who
“buys in”?
2.
Does the business model have a mature business system while easy to
learn, has legitimate rules and obligations spelled out? You can
actually “see how it will work and understand the level of activity
required to be successful" before you invest.
3.
Does the business model have a documented and audited track record of
proven success for participants, including average compensation,
attrition, and earnings?
4. Is
the calculation of compensation easy to understand and do the
participants have controls to manage it?
5. Is
there opportunity for long term earnings, i.e. resistance to economic or
market trends?
6. Is
the business model protected from competitive models? Is it vulnerable
to price compressions or other “me, too” competitive tactics?
7.
Is the business model scaleable without increasing SG&A expenses?
8. Does the business model satisfy the right side of Robert
Kiyosaki's Cash Flow Quadrant?
9. Is training and mentorship defined and built into the business
model as a critical part of the success?
Products /
Services
1. Do
you have the rights to unique, exclusive and desirable
products/services?
2. Do
you have access to a large variety of products/services?
3. Do
the products/services command repeat sales by their value and limited
accessibility?
4. Do
the products/services keep up with consumer and market changes in the
future?
Customers
1.
Will you be required to service more than 50-100 customers to earn a
six-figure income?
2.
Will the system you choose have customer incentives which result in
satisfaction and additional sales, without additional cost to you?
3.
Will the system you choose have true customer incentives for referrals
which do not come out of your pocket?
4.
Will the system you choose protect your relationship with your customer
as a proprietary asset of your company? ****
Longevity
1.
Will this business model hold up over time or will it be left behind by
technologies not yet invented?
2. Is
there an investment going toward research and development to continually
guarantee that products, infrastructures, marketing and management
techniques will keep up or even lead the industry in the future?
3. Is
there room for continued growth with no risk of market saturation?
4. Is
the business model leverage-able to average people?
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Let me know...I will be happy to share all the internet marketing gurus,
businesses, affiliate plans and products that I have investigated and
invested in...decide for yourself. Save yourself the time and money.
Also, as a fellow entrepreneur... if you find
a great opportunity that makes the grade, please share with me. I'm
always in the market to develop another stream of residual income
that will continue to work for me, in the future. It is the only way to
go!
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Technology, models and systems can simplify
processes and expand information, but it will never replace creating
relationships with customers or peers. That is personal and should be
done person by person. The most important thing in business today is in
building strong personal relationships.
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