For most of us, making more money for a dreamed lifestyle is rather difficult if not impossible, barring a major career change. So it is a good idea to open our eyes to look at ways outside of our nine to five routine jobs.
As a medical graduate, I have never imagined myself sitting in O2 Arena with over 7,000 people, attending Andrew Reynolds’s Entrepreneur Bootcamp to learn Internet business. This event, however, opened my eyes completely.
The fact is that there is over 1.5 billion Internet users, on every 1.6 seconds, someone new logs onto the Internet, to shop, to find information, to communicate, and to looking for businesses. Internet has become the biggest market place and the most powerful media which reaches millions of people instantly. The Internet is now the most profitable business with over 200 billion sales last year according to Forrester Research. It’s a no risk and low cost instant business for everyone.
Unlike changing a career, starting an Internet business is much easier than we think, even though you have no prior knowledge and experience whatsoever. All you need to know is how it works and how it makes money for you.
There are three key components constitute of every Internet business, which are:
First, you need to have a valued Product to sell. Three major types of products you can start to sell on the Internet:
1) Signing up Affiliate Programs to earn commission
2) Buy Resale Rights from others
3) Creating your own products
The second component is the Website, acting as your online shop. There are three elements required for every website:
1) Register a domain name, host it with a reliable webhosting service to make sure your online shop ‘open’ 24hours a day and 7 days a week.
2) Write a powerful salescopy serving as your ‘salesman’ to sell your products.
3) Open a PayPal or a ClickBank account to accept payment online.
And the thirdly, you need to have Traffic, which is the blood stream of your online business. There are three major traffic generation techniques:
1) Search Engine. Start with paid traffic, such as Pay-Per-Click advertising to generate immediate traffic or go for Search Engine Optimization to get your website listed high on Google;
2) Affiliate Program or Joint Venture to borrow traffic from others.
3) Viral Marketing, the most powerful traffic generating technique.
Although the above classic formula sounds simple, for a newbie, a complete stranger and a new beginner with no previous knowledge and experience, it still takes time to learn how to put it all together.