Creating A Profitable Online Business

The seven steps to creating a profitable online business

I’ve been teaching internet marketing since 2003 when I was first asked to speak at a seminar in Atlanta, Georgia, in the US. Since then, I’ve noticed two issues in most people’s approach to learning about starting an internet business and applying that knowledge.

The first issue is information overload.  Online business is a relatively new field of wealth creation. Because it is so foreign compared with other, more tangible methods of building wealth — like real estate or share investment — most people want to absorb as much information as possible before they start. However, the sheer volume of information that is available is astounding.

This leads to the second issue I’ve observed, which is that people become so overwhelmed by information that they end up
immobilised. They want to take action towards their dreams, but find that they don’t know which way to turn. They have too many options, so they end up doing nothing at all — this is often referred to as ‘analysis paralysis’.

These two issues are why I believe that too much information can be bad for you. To help you avoid information overload, I have compiled a list of seven critical things you need to know to set up a business on the internet. If you can master these steps first, you will have a greater chance of success.

As you progress, you will discover the other amazing benefits that the internet business world has to offer, such as different tools, helpful software, cutting-edge marketing techniques, search-engine optimisation tricks and payment processors.

For now, though, let’s focus on the seven steps that will put you on the path towards making money while you sleep.

The following are a summary of the seven steps:

1) Find a hot niche market.

What you need to search for is something that prompts an emotional reaction within the market — a problem that people would pay to have solved.

2) Create a product that gives your market what it wants.

Once you’ve done your research you’re probably starting to focus on what form your product should take.

3) Create a powerful and compelling sales message.

Now that you know your niche market and you’ve created a product that gives the market what it wants, it’s time to learn how
to describe your product in a way that will make people want to buy it.

4) Design a simple website that converts prospects into buyers.

People are often surprised when they find out that the website design that sells your product the most effectively just includes the words on the page. Black text on a white background is all you need. This is the style that I use, too.

5) Bring traffic to your website.

To get traffic, you have two choices — you can buy it, or you can get it for free. If you’re like most people, you’d
rather get it for free. However, ‘free’ traffic generally takes more work, so you’ll want to weigh up what you’ve got more of — money or time.

6) Use email to turn even more people into customers.

The right way to sell a product was by creating relationships and building trust with potential customers.

7) Recruit an army of people to sell your product for you.

Create an army of people marketing your website for you.  They’ll promote your product, but you only pay them after they’ve made a sale. Even better, you can arrange it so that you don’t have to be the one writing the cheques.

Conclusion

The seven steps to creating a profitable online business are incredibly powerful.  They’ve made a lot of people a lot of money, including me. In fact, I estimate that I’ve used them to generate well over $5 million. Now that you’ve got the essential information, all you need is to get going.

Contributed by:
Brett Mcfall
How to Make Money While you Sleep

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