Posts tagged "business coaching"

Don’t Go Broke Trying to Build an Online Business

Spending the Big Bucks

How often are you purchasing ebooks, strategy guides and software to build you IM business? Are you spending money left and right in hopes of finding the perfect internet business system? Do you find yourself hitting the BUY NOW button day after day, believing that you’re about to find the missing link in your moneymaking chain?

If you’re spending a fortune on your business, you’re not the only one. 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. It’s sane and sensible to invest in new strategy guides to stay abreast of changes in the industry and to get your hands on innovative ideas. However, there is a problem with running on the BUY NOW treadmill if you’re not making any money.

There’s a big difference between the person who’s staying on the cutting edge of new developments and the person who’s spending like a madman in hopes of finding a magical solution that will turn things around.

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

Buying the Right Way

So, how do you avoid becoming the wrong kind of serial buyer? The first step is creating a bedrock foundation for your IM business. If you ignore the bells and whistles, you’ll see the IM is really based on a few simple premises.

You need to have something 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 really all there is to it. Everything you do needs to strengthen one or more of those three simple core needs.

As such, you need to focus on building strength in all three areas. 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. You can start experiencing real IM success after that foundation is in place. Then you can start experimenting with new ideas and products.

Building a Smart Foundation

Getting the core of your business in place doesn’t require a massive investment. Here’s what you need to do.

• Learn how Internet marketing works on a holistic, big picture level. You need to hear, straight from the proverbial horse’s mouth, how things fit together and what really works.
• Focus a great deal of effort on traffic generation. As noted, traffic is one of the three keys to a solid foundation. It’s also the most important one you’ll address. 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 get people to your site as soon as possible.
• Secure ongoing support. An ebook can be great. Solid tutorial videos are a great idea. However, developing a real relationship with a successful mentor is much more valuable than any ebook or video series. Quality ongoing coaching makes the learning curve less steep and prevents you from wasting time, energy and resources on things you don’t need.
• Don’t overexpose yourself. You want to meet your objectives without risking significant losses. Look for opportunities to secure the right information at a reasonable price. Look for a business coaching program or mentoring arrangement that doesn’t cost more than you can afford.