Much study is being done by millions on how to create a successful online business, on how to start an internet business, on how to have a home internet business, on how to create passive income online, on how to have an online home business, on how to have an online business, and so on. However, there are so many pieces required to create an explosive online business. Unfortunately, these pieces of information are all not found in one place. So, to a person who wants to set up an internet business, this information is overwhelming, and even understanding where and how to start off is confusing.
Often people are frozen into inaction since they are faced with “analysis paralysis.” They don’t know how to make sense of all this vast pieces of information. They get paralysed with not knowing how to analyse the overwhelming pieces of information so that they can get started on their business.
What we need is a SIMPLE way to understand all this. So that we don’t get paralyzed. So that we can start taking small steps to go forward. So that we can understand the BIG picture of the online business. And at the same time we can get started by taking the SMALL steps required to get into explosive growth mode. To help in this, I have “distilled” all the seemingly complex pieces of information into a simple 3-key online business success model, with all pieces in a single location.
The 3 keys of the 3-Key Online Business Success Model are:
Key-1: Knowledge (How It Works)
An understanding of how online business works, and how and where the money is actually made. What are the pieces? How do they fit together?
Key-2: Skills (How To Make It Work)
The skills required to set up this internet business. These include technical skills and marketing skills. Some of the work requiring these skills can be outsourced.
Key-3: Attitude (How I Am Going to Make It Work)
This key is often forgotten. Without a proper attitude, without a proper mindset, having and using the knowledge and skills will not give the expected results. One needs a “millionaire” mindset to have explosive success.
You need to have each of these 3 keys to unlock your success in your internet business. Let us look at each of these keys in a little more detail.
Key-1: KNOWLEDGE of How an Online Business Makes Money
We need to understand where and how the money is made in an internet business. A simple view of the online business model is as follows:
Find a niche area that has a balance of high volume of interest and high paying capacity. Then create a webpage that focuses on this niche.
Get targeted visitors (traffic) to this webpage. This is done using methods such as article marketing, search engine optimization, social marketing, video marketing, joint ventures, blogging, and so on.
When traffic comes to your website, capture their email id in exchange for something of value to them, such as a free valuable report or a free valuable newsletter. A collection of such email addresses is referred to as the LIST. And as anybody in the online business knows, the money is in the list.
You then introduce your list to products that will be of use to them (i.e., products in the niche area). The products can be of two types:
i) Affiliate Products:
These are products belonging to others that will be useful to your list, and will provide your affiliate commission for every product bought through you.
ii) Own Products:
These are your own products that will be useful to your list. Note that it is not necessary for you to have your own products to start an online business. You can start with affiliate products, and if you feel so inclined, may create your own products later.
A percentage of your list would purchase the products you introduce to them. And this sale is where you make the money, through affiliate commissions for the affiliate products, or the entire sale amount for your products, bought by your list.
Key-2: SKILLS Required to Setup and Run an Online Business
Now that we understand the pieces that fit together to make money through an internet business, let us see what sort of skills are required to set up and run this business. Note that some of these can be outsourced once we understand what the skills are. The skills can be categorized as technical skills and marketing skills.
a) Technical Skills
* Purchasing a domain name
* Hosting the domain
* Creating a webpage
* Uploading the webpage
* Configuring a list capturing mechanism
* Setting up automated mails
* and so on…
b) Marketing Skills
* Writing good copy (good headlines, good emails, good web page content,… )
* Article marketing
* Social marketing
* Video marketing
* Joint ventures
* and so on…
Key-3: ATTITUDE Required for an Explosive Online Business
“You get what you expect” is a quotation that I have found to be exceptionally true. In a way, our success is in our mind. It all starts in the mind. We need to expect success in our lives. It requires a mindset.
Henry Ford said, “If you think you can do a thing, or think you can’t do a thing, you’re right.” We need a millionaire mindset, that helps us to think that we can, believe we can, and a mindset that gets us to set goals, take action on the goals, follow through, never give up, and resiliently rise from our failures and at the same time learn the required lessons, till we make it.
And remember, you need to have each of these 3 keys to unlock your success in your internet business.
This may sound very complicated, but it is NOT. To start or grow your online business, you can learn each of these keys easily.