Making money online requires four components; (1) a product or service to sell, (2) setting up and operating the online technologies required (hosting, webservers, high-speed Internet access, websites, etc.), (3) driving traffic and prospects to your sites and (4) converting that traffic into customers and money.
There are millions of products you can sell to make money.
They fall into two general categories; ONE, physical products (tangible things like golf clubs, tools or automobiles) and TWO, informational products (ebooks, newsletters, reports, information services, music, videos, etc.).
A physical product requires manufacturing, warehousing and shipping; all steps that require facilities, equipment and many people. Creating, printing, storing and shipping physical book requires considerable expense and manual labor. The manufactured cost and delivery of a physical book is about $20.
On the other hand, the information in that same book can be converted into a digital form (or file) and then stored on a computer and delivered to a customers over the Internet. Once in digital form, all functions like manufacturing, warehousing and shipping can all be handled by computers, making those functions very cheap and easy to automate. The cost to manufacture, warehouse, and ship an eBook is only a few pennies.
So the first rule of making money online is to focus on selling informational products that can be digitized, sold and shipped over the Internet.
However, selling informational products online requires a technology infrastructure. This technology must be able to store, present, sell, collect for, track, and ship the product.
As an online entrepreneur, you have two choices regarding how you will set up and manage the required technologies. You can either hire an experienced webmaster to set up and manage the required technologies OR you can do it yourself.
Since most people can not afford a webmaster, or don’t know where or what to look for, they attempt to learn and set up the technologies themselves. A recent study found that of those who attempt to do it themselves, over 90% fail. Why?
Because the technologies are too complex and difficult to learn.
This difficulty creates the TECHNOLOGY TRAP.
Since YOU NEED THE TECHNOLOGIES to be set up and working BEFORE you can start making any money… and since hiring a professional is expensive, then you are forced to learn the technologies yourself. But as we saw with the large number of failures, that too is very risky strategy.
To avoid the technology trap you need a complete online business engine that includes: hosting, automated URL registration, a configuration manager, headline generator, web page audio, email autoresponder, traffic tracking, split-testing and dashboards; all in one, easy-to-use, hosted application. This business engine should enable a non-technical person to set up a web-business (not just the website) in less than 30 minutes without hiring a webmaster.
More importantly, this web business engine should include the traffic and conversion tools required to easily and quickly improve the conversion (the percentage of people who purchase) on a continuous basis.
As Alex Mandossian, one of the most successful online marketers said, “You need to spend less than 10% of your time on technology, so you can spend at least 90% of your time getting traffic and converting it into customers. That’s where the money is, not in learning technologies.”
This means your technologies must be simple, integrated and automated. Only than can you focus on traffic, conversion and making money.
Please visit www.YourFirst50K.com for more information & to receive your FREE copy of my ebook titled “How to Make Your First $50,000 Online”
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