I believe the best way to help others is to work hard, provide value, experiment, share the truth and lead by example. That’s what I’m about, and that’s what my goal is for this website. I’m sharing my knowledge and experience to helps you grow both personally and grow your wealth with an online business.
“Investing in yourself is the best investment you will ever make. It will not only improve your life, it will improve the lives of all those around you.” Robin S. Sharma
Jump into some of the more popular posts on this site starting with the mindset and then about finding your million dollar business idea. There is also a lot of great application reviews, marketing strategies and growth tactics.
An online business can be described as buying and selling products, supplies, and services; servicing customers; processing payments; managing production control; collaborating with business partners; sharing information; running automated employee services; recruiting; and more.
One of the biggest advantages over traditional bricks and mortar businesses is an online business is able to project itself globally and not just locally. It is much cheaper and more economical to start up a business online.
The overhead and investment needed is much less but don’t be fooled, that doesn’t mean it’s any easier.
My definition of passive income is anything that doesn’t require you to trade your time for money.
If you’re paid by the hour, it’s not passive income.
Don’t get me wrong, trading time for money isn’t bad either. Consulting can provide a great revenue stream as well and it can sometimes provide you with seed money for other projects.
There are many ways to generate a passive income. Some of the more traditional approaches include generating income from a rental property, or dividends from an investment in other businesses where you’re not materially involved. This form of passive income usually requires a large amount of money(capital) to invest to generate an income you can actually live on.
On this blog, I’m going to talk about how to create a passive income online selling products and using sales, marketing and software all together to build a system that works while you work on other things.
Yes, you can let the systems work while you sleep but from my experiences, whether you are just starting out or making $100,000 per month, entrepreneurs just want to keep learning & growing.
Making a passive income online is everything but PASSIVE.
It takes a lot of work both in learning what you need to know and then executing on that knowledge to create streams of passive income. The more time you invest in reading and learning, the more successful you will become.
Online entrepreneurs invest their time upfront in creating valuable products, services, and experiences so that we work hard now to continually reap the benefits in the future.
Do you know what you want? What are your goals, your purpose?
Successful online entrepreneurs and achievers in all fields all set goals.
Setting goals helps you define your long-term vision and they provide you with the short-term motivation to get where you want to go. Goals focus you on getting the knowledge you need to succeed and they help you to organize your time and resources so that you can create the business & life you want.
If you know your goals, skip to the next paragraph, if you don’t know what your goal is, you need to define some smart goals.
Start Here – > How to set SMART goals for your online business
If you don’t already have a business idea, I would start with asking yourself what are you interested in, knowledgeable in, and even passionate about?
This can sometimes be the hardest part of deciding where to start. Try not to let this stop you. Starting something is better than not starting at all.
If you need some ideas, you can check out 33 markets ready for a disruption for some inspiration on startup industries.
Representing yourself professionally is important if you want to be taken seriously. You need a relevant business domain name, email, and website for starters.
I recommend getting Google Apps for Business as your foundational infrastructure. You get a professional email, online storage, shared calendars, video meetings, slides, docs, spreadsheets and more. I’ve been using it for many years and it helps make life easy and organized.
A note on automation and Integration – I don’t want to get too technical but this can save a lot of frustration in the future.
When researching and choosing resources like accounting software, marketing applications and payment providers, you will want to keep in mind integration capabilities. You want to choose software vendors that have an API that will allow you to pass data to and from other applications like your accounting software. The more integration capabilities, the more automation you can implement like adding leads in your WordPress blog to your Freshbooks accounting software saving you the time of entering the same information twice.
Every successful business has found it’s product market fit. That means that the product or service you are selling has a specific buyer that wants and needs it. When this partnership occurs, it’s called the Product/Market Fit.
To have the best possible chance of figuring out and profiting on your Product/Market Fit will have to start with developing Buyer Personas.
Buyer Personas are similar to what many people call their “target market” but they’re much more focused on the individual person rather than an entire market.
To learn more about Why you need Buyer Personas and how to create them.
There is a very cool methodology and tool that I use for figuring out Product/Market Fit that I will be sharing with you soon.
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Check out the resources page to see other tools you can use to manage your online business.
Here are some of my more popular articles