Don’t Go Broke Trying to Build an Online Business

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Don’t Go Broke Trying to Build an Online Business

Forty Thousand Dollars Later

How much are you spending to learn the tricks of the Internet marketing trade? Are you spending money left and right in hopes of finding the perfect internet business system? Do you have a habit of buying everything you can, hoping to find the one last piece of your profit puzzle?

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.

Those spending habits have a logical appeal. It’s perfectly reasonable to purchase new products and information to refine your already-successful business. Investing in new materials to stay on top of a quickly developing industry is reasonable. Spending that money when you’re struggling is a different story.

There’s a significant difference between trying to stay on the cutting edge and gambling on every possible tool in hopes of making a business work.

You want to be the smart investor. You don’t want to spend yourself into bankruptcy before you build a real business.

The Right Kind of Purchase

So, how do you avoid becoming the wrong kind of serial buyer? It starts by building a rock-solid foundation. If you look at the core of Internet marketing, it’s really rather simple.

You must have a product you can sell. You need a way to sell it. You need to secure traffic to the website you’ll be using to generate sales.

That’s IM in a nutshell. All of your efforts should relate to one of those basic 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. After you’re making money, you can being looking at those extras and adjustments.

Smart Foundation Building

Getting the core of your business in place doesn’t require a massive investment. Here’s a great approach to getting the job done.

  • Learn how Internet marketing works on a holistic, big picture level. You need to learn how things work from someone who’s spent time in the trenches.
  • Focus a great deal of effort on traffic generation. Traffic is, as noted, one of the core elements to a successful online business. It’s also the most important one you’ll address. Without traffic, you can’t determine if your product is interesting or if you’re sales strategy is working.| Absent traffic, you can’t determine if you have the right product or a workable sales strategy. You need as much traffic as you can get–and you need it quickly.
  • Discover a continuing source of support and guidance. A good ebook can be helpful. Instructional videos can really help. 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.
  • Manage your risk. You need to build your foundation without putting too much of your limited resources at risk. 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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