Greetings All,
How is your new week going so far? Hope you and yours are going well …
Do you feel a little overwhelmed by all that you need to learn?
Well, in building a successful online business, you really need a well thought out plan. Spend some time, clearly defining what you ultimately hope to achieve. Write you goals down on paper. Review them frequently. Use these goals to plan how you will build the business you really want to build.
I saw there are too many people throw up a website, and say that they’re building an online business – with no clearly defined goals. They just spend most of their time jumping from chore to chore but not really moving forward. Because they don’t know what they ultimately want to achieve, they can’t know if they are moving toward achieving it either!
Let’s do our weekly recap first before we going further:
* Affiliate Marketers Top 5 SEO Misconceptions
* Why Market Your Biz by Blogging
* Which SEO and IM Service You Should Start With
* Article to Videos Instantly to Generate Traffic
* Online Store to Your Offline Store Supplement
Millions of you dream of someday starting your own business and achieving financial success and independence – it’s a universal dream. Many people also discover the internet and are led to believe this is the perfect medium for making that dream a reality, in fact, it is true, because you can accomplish things on the internet that you don’t have the resources to accomplish off-line.
And millions of you migrate to the internet looking for an opportunity for earning residual income to supplement your income. Far too many of you spend a lot of time and other resources trying to build a business, then later only to be found that very disappointed.
Residual Income is another term for “recurring” income. There are basically three types of income streams that you may have coming into your life experience. If you do a one-time job, sale or perform a contract, you get paid once and the income stops there. If you do a normal 9 to 5 job, you will continue to get paid as long you continue to work for your employer, which is often called a linear income. This is the type of income that the majority of people “enjoy.” Even if you are a neurosurgeon, lawyer or engineer, you are only paid as long as you continue working. Once you stop working and then you see your bank account dwindles.
The third type of income is the residual or recurring income where you are paid even after you have stopped working. For example, let’s say that you wrote a book. You had to go through the tedious task of researching, writing and getting a publisher. However, after that initial investment, and as long as your book continues to sell, you will continue to receive checks.
You might already see a majority of affluent people created wealth through a residual income stream. Take singer Celine Dion for example; she continues to receive royalty from the sales of her records made decades ago. She can even repackage the same oldies and sell them to generate new income, and she doesn’t have to spend time in the studio to record new songs in order to have the cash keep flowing in. This is the most ideal situation of the three. We would all like to work once and get paid over and over again. That is the power of residual income!
The majority of professionals that enjoy this type of income belong to the creative fields such as actors, writers, singers, and inventors.
But how can an ordinary person like you and me earn residual income? One of the methods is through affiliate marketing business model.
Affiliate marketing has been made very popular on the Internet by companies such as Amazon.com, ComissionJunction.com and ClickBank.com. Strictly speaking, because you are getting a one-time commission for most of your sales in an affiliate program, thus this type of income is not really residual actually.
But the trick here is to join affiliate programs that offer a monthly service such as a web hosting, or membership websites – remember the key in this type of business model is that the product should be consumable or requires renewal because affiliate or associate programs don’t normally pay you beyond the second level so you cannot really build large organizations as in a MLM company, therefore your income is a bit restricted.
However, most affiliate programs don’t require you to train or support your customers, so this all balances out. You know, in life it’s hard to break the “you get what you pay for” rule. It’s the sowing / reaping principle.
As I know, many of you who are looking to start a business on-line also have a big fear of being ripped off. And yes, there is very good reason to fear being ripped off! There is a good chance you will be ripped off by some half-witted money-making scheme. The fact is that there’s even a chance you will be ripped off by someone who doesn’t even know he’s ripping you off!
So when you find yourself face such situation, what and how to do to avoid being ripped off? (You may ask)
The BEST answer I can give you IS using your common sense. Ask yourself if something makes sense.
As you know, information travels very fast on the internet. Yes, there are many proven methods and techniques that do work, but if you look hard enough you will see them in everyday application. Just go to any famous ‘gurus’ site and make sure you see that he or she is actually using what he/she teaches.
To an extent, avoid getting ripped off also involves learning who you can trust. A trusted friend who really cares about you simply won’t give you bad advice. A trusted adviser won’t recommend bad products or services to you.
Most online business people that I deal with have a lot of integrity and honesty. If you deal with people who adhere to a different set of standard and mindset, then you need to change your business associates.
Sometimes it does appear to be a ‘dog-eat-dog’ world. People do often espouse using questionable tactics to get ahead. It often looks like you have to ‘pull out all of the stops’ in order to really grow you business. It sometime looks like secret to do whatever is necessary to make the sale. If you buy into that philosophy and your online business will not survive long. Word spread very fast online!
So take a look at your income sources and evaluates them with cautions, reread this article several times, and then start applying what it teaches. If you just read and know something without using it is actually worse than not knowing, there is no excuse for you.
Till next time – Happy sharing 
Cheers!
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