The Very First Thing You Should Do

Sunday, July 30
I've met a fair number of people who like to do some part time work, consult, build sites on the side, and also try to become new internet marketers. Recently I heard a cry from a couple of people asking what they should do when first trying to break into the online marketing business.

Here is the problem at hand for many of the newbie marketers out there - panic, impatience, and impulsiveness. If you are in this business to try and make the quick buck because you are panicked and out of money, or, you find yourself drifting between products, methods, affiliates, and the next big wave then you are on the wrong track. I'm going to be blunt here but you must stop what you're doing and think this through.

As you probably know only about 5% of those in this business are really making significant money to be completely independent. And of those, only a handful are multi-millionaires. The problem most keep running into is what I call 'the big sell'. That is, the hype associated with this industry. Much like anyone I was struggling with the same question 4 years ago when I started.

Now, I know you are excited and anxious to get started and have very high hopes. But, if you move too fast and don't sit back an evaluate what you really want you can waste a lot of time and money. I know I did! Thankfully, with a significant amount of time and effort I was able to make back what I've put it and earn some more. With that in mind stop and ask yourself this question: Am I going to market to marketers or market products and services? What I mean by this is - are you going to create new marketing strategies and/or be a marketing affiliate, or, are you going to create and/or sell a product?? Make sure you answer this first.

Then, as I noted yesterday: Are you going to get into an online business that you enjoy? This is important!! I suggest getting away from your computer and taking a walk - try to imagine what it would be like if your online business was a success. What would you really want to be doing that drives you?

Take a look at Digital Photography Review. Here is a guy who loves photography and has turned his passion into one of the best digital camera review sites on the internet and makes a living doing it. Yes, the site is now huge and has a massive amount of content. But, he started somewhere.

Also take a very close look at Holly Mann's site: Honest Riches Pay close attention on how she's taken all of the best online marketing strategies and put them into practice. If you've learned most of the basics and you've studied her sites you'll see that she has jumpstarted her business in record time!

And the last thing I must note is that you are starting a business - remember that. If you haven't created a sole proprietorship or LLC to get started (in the USA) then you are losing money right away. A sole proprietor is a business entity that allows you to deduct any expenses (domain names, web hosting, ebooks, advertising, computers, software, etc.) on your taxes. Be sure to do that at a minimum before you start. Just register with your state - the fees are low (typically $30-$50 total). You will save money on all of your expenses. (Note that the closer you get to becoming a corporation the higher the protection of your business).


Anonymous said...

Yes Don thats true Im from the honest riches community I can recall times when I made decisions out of desperation without any plans whatsoever and needless to say they were bad.Now things have changed quite a bit

Raven_Spire said...

This is an absolutely true. It can happen to anyone and get burned almost immediately

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