So you want to be a millionaire. You set off to make money as an entrepreneur and you stumble upon internet marketing. Making money online definitely has its persuasive points such as the fact that you do not have to work for other people and that you will only have to work from home on certain hours that you choose. The promise of wealth is great and the dream of freedom can be achieved. However, many people started their own business without knowing what is in it for them.
In fact as an internet marketer you have your own responsibilities. Sure you are not working for other people, but you are in fact working for yourself. You are not making efforts to please anyone anymore but the truth is… your responsibility has actually increased. If you have to work your business to bring in profit, you owe it to yourself to do it. Even if you hire workers, they might not take up the responsibility entirely. Instead nobody cares if you are earning any money at the end of the month or if you are starving to death.
This then means that the only way for you to get to success is that you need to take massive actions and be responsible for all the actions that you take as the business owner. In fact, when you are first starting out to get your business running, you will feel like you are actually working… the only difference is, that you are now working for yourself and that in addition, all the pressure of decision making is on you. You will be the one calling the shots, you will be responsible for all the profits and loss and you will need to be the one to feel the pain if you go over the budget with no return to help you ease the pain.
So, the truth of the matter is… it’s not always easy being your own boss especially if things isn’t going your way and you are getting more and more desperate each month trying to meet ends meet. This kind of thing happens every day in the internet marketing world, and only a certain kind of people actually makes it to the end game to enjoy the freedom and wealth that they started out for. This then brings us to the next question, what exactly is the job scope of an online entrepreneur.
Calling the shots.
Well for starters, you will have to get used to the fact that no one is there to help you and that you are on your own. Nobody is going to be yelling at you anymore so you will have to wake up early each day and hold yourself responsible for the work that you will try to accomplish each day. As the boss, sure you are allowed to work anytime you want but it is best for you to be disciplined and work on a fixed hour each day consistently. This will train your mind and body that when it is time to work, you will get your game face on and you will try your best to get things done.
To speed things up, you will normally have to delegate and outsource some of the work that you are not good at. Otherwise if you are going to attempt to get everything done all by yourself, you might end up getting nothing done at all because you might be blocked with some technical difficulties, or you will find your project halted for a long time because you are forced to ‘learn new’ stuff in order to get a certain amount of work done by acquiring new knowledge first.
Looking for the biggest profits.
As a business owner, your number priority is always to look for the biggest profits that you can earn in the shortest amount of time. Therefore to be able to achieve this, you need to be able to understand your target market well enough. You can’t go to a niche with everyone selling at a $10-$50 price point and hope to do extremely well selling a $997 product that no one is accustomed to. While it is possible for a reputable guru with sufficient branding and reputation to make it happen, as a newcomer, you are better off trying to go with the flow of the niche first before attempting something that is revolutionary and totally out of the ordinary.
Hence your job as a business owner is to understand your niche and try to find out the keys to selling your product at the optimum price and while getting a good conversion rate at the same time. You do not want to be competing with your competitors by price which means your product needs to be unique and worthwhile to your buyers. If you are doing things the same as everyone else, you will find it hard to churn out a good profit because you are competing without an ace in your hand.
Lowest cost possible.
The next thing you must absolutely try your best is to actually cut as much cost as you can. When you are first starting out, it is needless to say that your budget is usually very tight. Hence you need to find out what others are doing, and how you can do it better at a cheaper cost. You need to be careful with what you are sacrificing here to get a lower cost to your business because you will want a certain amount of quality to be intact so that you can still have a competitive edge when you are facing off with your competitors.
Getting the fastest return.
This is what every good business person excels at. It is not how much money you make, but how fast can you get a return from your projects. If you are only making money once a year then you need to bump up your speed in churning out products or launches. The faster you complete a project, the faster you will be able to earn and the more you can earn each year. Learn to work faster and use the leverage that is all around you and you should get a speedy return every single time.
Originally posted 2013-07-01 05:36:10.