To put an idea into execution, you need to check on its viability. It may sound really good in theory but not work when put into action. There have been great ideas that have not planned out, simply due to a lack of utility or the lack of a market for the product or service. Make sure that you ask your mentor, or other industry experts for advice. This can be a bit tricky if you don’t want to give your idea away. Alternatively, try to find some small way of testing it out. Another separate and equally important aspect is to decide whether your product or service has an online market. Ask yourself whether people go online looking for your offering and whether these people would buy this offering online. This will help to establish the online viability of your concept.
USP:–
Remember that people are looking for value in your product or service and if you can differentiate yourself by coming up with a unique selling proposition for your business, you will be more successful. Your idea must have merit, essentially and offer something unique that sets it apart in making it attractive to customers. Keep in mind that you are up against a lot of competition on the internet before deciding to go ahead with your plan. Remember also that if your idea is not unique, some other aspect of your approach should be.
Marketing:–
This may be one of the pillars of your online business if you can get it right. Your great concept will only get you so far – to get people to find and buy your product you need the help of a great marketing effort. If you can hire a good search engine optimization team, do that. If not, try to research and read up on the subject to the best of your abilities. Definitely get a good web developer who will follow World Wide Web Consortium standards and will also optimize the structure of your site to make the job of search engines that much easier. Further, get good content that is informative and intelligent to attract customers. Most importantly, look for affiliate programs, email marketing opportunities, start newsletters, blog marketing, banner ads, pay per click and so on. These are the various techniques that help a site get attention from its customers. It is important to get relevant visitors who are looking for your offering or something similar.
Planning/ strategy:–
Have a plan. Create a business model, do projections, make a marketing plan, be ready for difficulties, identify problems and work on problem solving. Educate yourself about your business, the internet and about the product or service you are selling. Once you master this, you will know more about how to plan and structure your start up phase and be ready for future growth. As in any business, an online business needs to have a strategy in place to make money and convert ideas to money making businesses.
Success Stories Of Entrepreneurs
However, when I was doing research for my
first book Internet Empires Volume 1,I came
across some amazing success stories of people
who started looking online for some way to attain
financial freedom and found out there are ways to
actually make money from their passion.
I am going to share a few pieces of my book so
proove to you that you can find a proven income
opportunity online or offline for that matter.
The Bankrupt Networker
This story is about a guy named James from Michigan
who at a very young age had to file bankruptcy while
already owning an online business.
James overcame alot and he ended up creating simple system called IBuzzIncome which allowed people to make money online without having to go through a huge learning curve.
I ended up becoming friends with James after my interview and I know his system is a proven income opportunity.
The North Carolina Farm Boy
This is an awesome story how a guy named Willie
who grew up on on a farm in North Carolina dirt poor
and later went on to make $250,000 per year online.
What is so neat about this story is how he makes money online.He took a passion of his which is soul food and turned it into a residual income stream that pumps out
money each and every month.
He created a cookbook which is always a proven income opportunity since people love to eat.An interesting fact about Willie is that his family was so poor that
he didn't even get to taste a piece of steak until the age of 14.I can promise you he can afford steak now.
Use Willie's story as an example and brainstorm a book,video,CD or some piece of information and go make money with it.We all have life experience that we can draw from.
Let's say you have homeschooled your kids all the way until college.I know people would pay to learn tips and techniques from you on how to raise kids in a homeschooled enviroment.
Alright, let's say you are great at archery.You could take your experience and video tape yourself giving tips and techniques away as well.You then turn around
and sell the dvd.Make sense?
Everyone has life experience they can turn into a proven income opportunity.
The Juggling Professor
I first heard about Jim, a college professor from Kentucky while doing research on a popular piece of software called Sitebuildit.
At first, you wouldn't think what I am about to tell you would be a proven income opportunity, however, Jim
makes $97,000 per year selling juggling supplies online.
You heard me right.Juggling supplies.Jim built out a site around a topic he was passionate about,juggling, and learned how to turn it into a proven money maker.
The Missle Silo Ace
This story is abit different.I heard about a guy named Don from Texas a while back.He is known as "The Big Ticket Ace".Don was working as a consultant until he got laid off from work.He then discovered Ebay and began selling household items on ebay for extra cash.
He then stumbled across a missle silo that one of his family members got when they purchased a plot of land.This is and actual missle silo.
Don, decided to put it on Ebay and sell it.He eventually found a buyer but at the last minute the deal fell through.
However, Don knew he was onto something selling big ticket items.He now makes a very good living selling big ticket items on ebay and with the recognition he has received, has become a best selling author as well.
This story is about turning lemons into lemonade.What can you do to come up with your own proven income opportunity?
Here is how I come up with ideas to make extra money.
I take a look at my current assets first.When I say assets, I am referring to contacts I have, money that I have access to as well as skills I know I am good at.
Once you are armed with that information, you can begin to brainstorm money making opportunities.
There are tons of ways to make money online and off.
However, they may not be right for you.You may find out after reading this article that you have a proven income opportunity already inside you.
Both Williamking & Dave Dutton are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.