Ten Keys to Making Money On The Internet
There is no real secret to making money on
the Internet. There are just well-known key factors that must be met in
order for you to achieve online success. If your business doesn't meet
these key factors then it is bound to fail. Without further ado, here are
the Top Ten Keys to Online Success...
1. PROVIDE VALUE
Let's look at two of the most successful online ventures: Yahoo and
Amazon.com. Why are they so successful? They provide tremendous value to
the Web. That's what they've been doing all along. Your website must
provide free resources, foster a sense of community and show real value to
your visitors. Without useful information and real content, your website
will just be background noise. Provide real value and the revenues will
follow.
2. QUALITY PRESENTATION
Providing content, community, and utility is not enough. It must be
presented well. Quality means fast, clear web design that looks good and
is easy to understand. It should be easy on the eyes, as well as the
brain. Your users will make quick determinations about the quality of your
site. High quality will result in repeat visitors and more traffic. The
word about your awesome site will spread!
3. BE UNIQUE
Your site must be unique. You should own something no one else has. In
most Internet business opportunities you're nothing but pitching something
you don't even know anything about with a web site that looks exactly like
thousands of others. It's depressing to see people waste their money
promoting some "get rich quick scheme" or advertising the same programs as
everyone else. Not to mention those ripoff cybermalls. So, if you don't
have your own unique website which fosters the Five C's
(content, community, consistency,
capability and commerce) then you're nothing but a cyber-static salespitch.
4. BUILD YOUR BRAND
Why is Yahoo! valued at 10 times more than Infoseek? It's their brand
name. Yahoo! is now virtually synonymous with the Internet. Amazon.com has
also attained great name recognition. Both companies have formed a name
that people can easily remember and with a comfortable ring to it. Today
the key success factor is not about gaining market share, but rather
gaining "mind share." This means brand
recognition. Your name needs to be catchy and meaningful. Your name needs
to express a feeling or image in the mind of the consumer. For example,
the name Yahoo! is exciting and makes me feel like I've struck gold. The
name Amazon.com paints a picture in my head of a vast and great jungle
where anything is possible.
5. E-COMMERCE
Let's face it. E-Commerce is here to stay. According to Forrester
Research, Online retail sales will hit $108 billion by 2003. Your site
must have a fully-functional E-commerce system built into it. It's
expected if you want to actually make sales through the web. Visitors need
to be able to purchase your product or service at any time with just a
click of a button. Your site needs to make shopping a fast, fun and easy
experience. Cater to the impulse buyer and provide a simple yet effective
shopping cart system. How else do you expect to make any money on the Net?
6. FORM AFFILIATIONS
One of Amazon's biggest success factors is their affiliate program.
Wherever we go there's an Amazon book being sold on a website. It is so
important to form solid partnerships and affiliations. Set up your own
affiliate program and you might just see your profits soar. Develop joint
venture partnerships with those web sites that fit with the "theme" of
your business. Remember, you won't survive very long if you're trying to
do it all by yourself.
7. TECHNOLOGICAL KNOWLEDGE
No one accomplishes all of the above key factors without substantial
technical know-how -- or at least ready access to it. It goes without
saying Yahoo! and Amazon.com have many very technically savvy people on
staff. Surely you wouldn't expect to build a substantial online business
without doing the same. Of course, you don't have to be a programmer, but
you must have access to those people who can support you technically.
8. PROMOTE
Advertise! Promote! Tell the world about your site! And I don't mean spam.
I'm talking about a constant, strategic and aggressive promotion by using
opt-in lists, ezine advertising, classified advertising, search engines,
targeted email marketing and other online promotional tools. Advertise on
the radio, newspapers, and television. You have to let everyone know that
you exist and that you mean business. A web site is, in reality,
infinitesimal bits of data buried in a computer. It only means anything if
people come see your site.
9. PATIENCE
You have to be patient and think long-term. It takes a lot of hard work to
be successful and it won't happen overnight. Plan ahead. Focus on your
strategy and develop the right moves for the right time. Take your
business step by step and you'll be greatly rewarded. I see too many
people trying to make that fast, quick buck without putting much work into
it. It's just not going to happen that way.
10. INVESTMENT
In order to reach your goals and dreams, you have to invest time and
money. If you're short on finances, then try to gather friends, family or
investors to fund your project. If you think you have a really great idea
then you should approach angel investors and venture capital firms.
According to the Small Business Administration, angel investors pour as
much as $20 billion a year into some 30,000 small companies.
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