6 Steps to an Effective Online Business by milliardaireat23

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									 6 Steps to an
Effective Online
    Business
    Brought to you by:

      Margaret Ortiz
    Affilorama Jetpack
Creating and running an effective online business is realistically comprised of
several hundred, rather than 6, but this will serve as a guide for the direction
of your efforts. Contrary to what you may hear rampantly on the Internet,
there is no cookie-cutter, get-rich quick scheme on the web. Not only is
every online business different, what works for one person or in one month
may not work for another person or in the next month.

The Internet is constantly changing, and the online market is inherently
different this year than it was last year. New technological improvements
occur monthly, and impact the online business environment. What works
for one individual when he is the first to sell a certain product a certain way
may not work just six months later when he has sold his idea to 40,000 other
marketers, and they all begin to promote it. Traffic generation tactics are
significantly different than they were just a year ago, and hardly resemble
profitable strategies three years ago.

These 6 Steps are simply the bare-bones skeleton of what has to happen for
your online business to be successful. They are foundational, and although
the implementation strategies are different today than several years ago, the
basic steps remain the same.

1. Develop or discover a product. You must find a product that meets
today’s needs. A 5 year old product whose resell rights you can buy for a
dollar or get for free probably won’t meet the needs of today’s consumers.
You must be willing to pay for the rights to sell a current , useful product, or
become an affiliate marketer, where you promote a popular product, and in
exchange are paid a percentage of the income from the sale.

2. Determine how the potential customers can view your product and
see a sales presentation. If you develop your own product or purchase the
rights to sell someone else’s, you will need a website. A few tips here:
Rather than accept free web hosting, purchase your own domain name and
pay to have your domain name and web site hosted by a professional web
hosting company with a reputable history. If your free web hosting company
goes bankrupt, they generally take your fledgling business with them.

3. Once you have your web site up and running, unless you are using an
affiliate program that supplies a sales page, you must develop a sales script
and web copy. Aside from your web hosting decision, this is probably the
most important thing you can do. You may be tempted at first to write a
sales pitch on your own, but unless you already have a lot of experience in
the offline market writing effective sales letters, you need to, absolutely
must, invest in a few courses on web copywriting. Be willing to spend some
money upfront on learning this skill. Too many marketers try to wing it in
this area and after a few months of losing money online, finally break down
and purchase the knowledge to write a good sales pitch. Do it the other way
around—buy the knowledge first, and start making sales from the beginning.
Customers will not buy just because you have a web site---they buy from the
web site that does the best job of convincing them it has the best product
for their need.

4. You must develop a traffic source that works. When you first begin,
you may be on a shoestring, and that is OK. Assuming you have been
willing to spend some money on sales letter writing and a decent web host,
you may be able to skimp in the traffic arena for awhile, if you have plenty of
time. If you do not have money to advertise, nor time to seek out low cost
advertising, you probably shouldn’t be attempting an online business. If you
do choose to go the low-cost route—know two things up front—the returns
are really low and you will spend vast amounts of time on traffic generation.
Once you begin to make sales, you must invest your income in paid forms of
traffic generation. If you do not, you will run out of enthusiasm for
generating the free traffic, and without reinvesting the income from your
first sales into advertising, you are sure to fail. Good sources of low-cost, but
time consuming traffic are: writing articles and posting them to article
directories, low cost classified ads, and ezine ads. You may see hyped-up ads
for thousands or visitors for a low cost or millions of banner ads for another
reasonable price—both of these methods may have worked 2 years ago, but
they are a sure waste today.

5. Once you begin to get traffic to your online business site, you must
keep detailed records of where the traffic comes from, and what
percentage of visitors from each source are purchasing your product. If
you have visitors that cost you $50 per hundred to come to your web site,
but on average they only purchase $25 per hundred visitors, the income may
feel good, but you are not profitable, and are losing money. By tracking your
expenses on each type of visitor and by tracking your revenue on the same
sources of visitors, you can determine which campaigns need changes or
need to be eliminated and which need to be increased in intensity.

6. By following this pattern of steps, and by keeping diligent records
(there is plenty of good web site tracking software on the market that can
help you do that), you can develop a profitable online business. Again, it
will not happen overnight, and you will not get rich quick. However, if you
build a solid online business with a solid foundation, and are willing to spend
some money learning how to do it right, you really can become successful in
business online.
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