May 21

Don’t Go Broke Trying to Build an Online Business

Trying to Buy Success

Are you a serial IM product buyer? 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 making investment after investment in IM direction and information, you’re not alone. Far too many Internet marketers are doing the exact same thing.

There’s nothing wrong with that, either. It’s perfectly reasonable to purchase new products and information to refine your already-successful business. 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. Making those purchases before you have a profitable business is a different matter, though.

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 handle this the right way. You don’t want to be the person who’s spent $40,000 on IM products and still isn’t making regular sales.

Buying the Right Way

So, how do you avoid becoming the wrong kind of serial buyer? You need to build a solid foundation for your 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 to have something to sell. You must have a way to sell the product. 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.

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. 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

You can start building that money making foundation without going broke in the process. Here’s what you need to do.

  • Develop a holistic understanding of Internet marketing. You need to learn how things work from someone who’s spent time in the trenches.
  • Make traffic a top priority. As noted, traffic is one of the three keys to a solid foundation. It’s probably the most important of those three elements. Until you have adequate traffic, you won’t be able to find out if your products are attractive or if your copy is converting. You need to put eyeballs on your pages right away.
  • Secure ongoing support. A good ebook can be helpful. Solid tutorial videos are a great idea. However, there’s nothing like developing an ongoing connection with a coach or mentor who has a history of success and a willingness to show you the ropes. Good mentoring increases efficiency, makes it easier for you to build a foundation, and allows you to avoid common mistakes.
  • Minimize your exposure. You want to meet your objectives without risking significant losses. Avoid overspending on the tools and information you need to build your business. Find a small business coaching opportunity that doesn’t require a fat up-front commitment and that doesn’t lock you into a multi-month contract.

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