Tag Archives: business coaching

Don’t Go Broke Trying to Build an Online Business

Trying to Buy Success

How much are you spending to learn the tricks of the Internet marketing trade? Are you spending money left and right in hopes of finding the perfect internet business system? Do you have a habit of buying everything you can, hoping to find the one last piece of your profit puzzle?

You’re not the only one convinced that the only way to make money involves spending it in copious quantities. Many IMers are on the buy-buy-buy-and-buy-some-more treadmill.

Those spending habits have a logical appeal. It makes perfect sense to purchase new information and products to keep your business rolling right along. Investing in new materials to stay on top of a quickly developing industry is reasonable. Spending that money when you’re struggling is a different story.

There’s a significant difference between trying to stay on the cutting edge and gambling on every possible tool in hopes of making a business work.

You want to be the smart investor. You don’t want to spend yourself into bankruptcy before you build a real business.

Making Smart Purchases

How can you avoid dumping too much cash into things you don’t really need? The first step is creating a bedrock foundation for your IM business. If you strip away all of the details, tricks, options and creative new ideas from Internet marketing, it’s a simple proposition.

You need a product to sell. You need a way to sell it. You need a way to generate traffic to the site from which you’re making that sales pitch.

That’s it. All of your efforts should relate to one of those basic needs.

That means that you should start by building a solid foundation on all three fronts. When you buy something, it must directly address one of those three foundational needs.

You must have a foundation that let’s you make money from home before you invest in extras, details, tricks or adjustments. Once you have the basics in place, you’re going to start making money. Then you can start experimenting with new ideas and products.

How to Build Your Foundation

You don’t need to spend big money to build a profitable foundation. Here’s a great approach to getting the job done.

  • Learn how Internet marketing works on a holistic, big picture level. You can get that kind of perspective from someone with successful IM experience.
  • Focus on ways to boost traffic. As noted, traffic is one of the three keys to a solid foundation. It’s arguably the most important component. Without traffic, you can’t determine if your product is interesting or if you’re sales strategy is working.| Absent traffic, you can’t determine if you have the right product or a workable sales strategy. You need to put eyeballs on your pages right away.
  • Find a source of ongoing assistance. A good ebook can be helpful. A video can be invaluable. However, you’ll find more value in cultivating a good relationship with an experienced, successful IMer. Quality ongoing coaching makes the learning curve less steep and prevents you from wasting time, energy and resources on things you don’t need.
  • Manage your risk. You want to meet your objectives without risking significant losses. Look for opportunities to secure the right information at a reasonable price. Find a way to develop a valuable relationship with a personal business coach or mentor at a reasonable price.