Steps to Creating Online Business Success

The drama of life affects each one of us in different ways. Living life to its fullest and wanting to get every sensation out of it is a dream we want fulfilled.

“After this period, there’s going to come a great period – a period of financial growth.”

When was the last time you thought that way?

I used to make notes in my diary with predictions of earning a specific sum by a particular date. Sometimes I reached those goals and many a time I didn’t.  But when things started improving, I realized what I was doing right and what I had done wrong that kept me from making money in the first place.

But how do you become profitable? There are several business models online, such as network marketing, affiliate marketing, product creation, offering services and others.

Whatever it is you choose, there are a few things, following which will put you on the right path to making big money.

Let me share with you what my experience taught me.

The idea is for you to reach the stage where you have enough money in the bank to be able to think of helping many others make a full-time living online.

1. Choosing an online business model with potential. 

So, the process for determining a business model is really an exercise in understanding the classic models and determining the best fit for your idea through a process of elimination. ~ John Jantsch via ducttapemarketing.com

When people come online, they do so because they may be stagnating in their jobs and they understand that they may not ever be able to earn as much as they wish to, if they continue with their jobs. They come online with dreams of earning the financial freedom that will change their lives forever, but they end up choosing a business model that cannot help fulfill their goals.

While there’s money online, not all routes lead to riches.  Carefully understand every business model and choose the one that has the potential to make you big money – depending on what you think is big. It could be half a million or a million dollars.  The profit margins and the demand will have to be high for you to succeed.  It can be a small-ticket item with demand, where you can make thousands even by selling just $1 products or services, or it should be a high-ticket item that is in huge demand, even if it means there are fewer buyers. You may just have to sell a few each month to reach your financial targets.

2.  Scale what works.

Do more of what works well, and less of what doesn’t work. This means you have to pay careful attention and have some simple measuring tools in place. ~ Sonia Simone via copyblogger.com

I stress on this to ensure people get rid of the tendency to try several new things at the same time; especially when things are going great for them. While I encourage enthusiasm and feel it’s a good idea to understand the different business models, it’s also important to scale what’s working. I’ve touched almost all aspects of online marketing and I enjoyed all my experiences. But when I found something that’s giving me the results I sought; I usually stuck to it and scaled it.

3.  Pay attention to the heavy traffic options.  

It seems that Business Insider made the right choice by choosing not to charge people to read the profile on Ms. Mayer, and instead giving it away online. The article was shared more than 13,000 times on Facebook and 5,500 times on Twitter, all of which helped garner nearly 900,000 page views for the article.  And that’s 900,000 page views that were framed by several online ads.  ~ Nick Bilton via bits.blogs.nytimes.com

People, people and some more people.  Everything you do online revolves around people. The more people know about you, the more people you have access to, the better your chances of making big money.  It could be from building a large list of email subscribers, a highly popular website, social media exposure, lots of affiliates, joint venture partners, media exposure, PPC or some other form of advertising.  Whatever you do, you have to look at gaining access to not hundreds but thousands of people, to enjoy a larger profit margin. Have I mentioned that it needs to be targeted traffic?  The Web is filled with content about targeted traffic.  Learn everything and get it right.

4. Concentrate on your strengths. 

This is the first thing I tell people coming online – to enjoy what they do. Things get much easier for you when you actually like what you’re doing. As a beginner, this line of thought holds more importance. Once you’ve mastered the art and have made many thousands online, you can turn anything into a success.  So, if you’re just beginning, find a business model where you can focus on your main strengths.  Work on developing your core strength and if your enthusiasm reaches people, that’s all you need to succeed and meet your financial goals.

5. Change the business model if something doesn’t work. 

Despite all your efforts, if the business model you’ve chosen is not going the way you expected, be prepared to look elsewhere.  It happens to the best of us. There are bound to be disappointments.  That’s a fact of life. Accept it with grace.  Most people will continue with a failing model because they don’t have the courage to change and start something else.  But to be able to gain the potential of making big money, you have to take the tough decision to change at the right time. You have to know exactly where to draw the line.

Other factors  

For big money to happen, look at creating a perfect business that has huge potential for growth, with proper attention.  Demand is what you should be concentrating on.  Networking is a huge plus in online marketing. Keeping things to yourself slows things down. Engage in conversations with other marketers and buyers. Be a people person.

When you actually build a good income-generating business, you’ll have several advantages, one of which is the ability to make thousands or millions of dollars from selling your business. Many online marketers owe their riches to creating and selling profitable and hands-off businesses, and some do it many times a year.

See the following example:

Seven years after the first post was published, it was sold to AOL for $315 million to add to its other online blog assets including Engadget, TechCrunch and MovieFone.

Today it’s website traffic is measured at over 77 million visitors per month.

That blog is Huffington Post. ~ Jeff Bullas via jeffbullas.com