Going Professional
The Internet Marketing Newsletter
February 2004 #1
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++++++++++++ This Week ++++++++++++
Going Professional
By Robert Smith http://smithfam.com/
+++++++++++ Feature Articles +++++++++++
Use A 'Hot Market' To Build Your Business
By Bob Leduc
Setting S-M-A-R-T Goals
By Michael E. Angier
Luck Comes From Hard Work
By Eric Stephenson
A One-Minute Marketing Plan?
By Jim Daniels
How's That Working For You?
By Robert Smith
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++++++++++ This Week's Tip ++++++++++
Going Professional
By Robert Smith © All Rights Reserved
When I started my on-line business in 1996, my theme was
'Free In Cyber-Space.' I indexed all the best free services and
resources required to get a web business started.
A few years ago you could grow a web business with little or
no up front costs. I no longer believe it is possible to create
something out of nothing. Now an Internet business is like any
other business, your success depends on skill development as well
as some real operating costs.
Many large Internet startups died when funding dried up in
the last few years. Many of these failures were primarily the
result to using off-line marketing strategies that simply don't
work on-line.
In the early days a small web businesses had a distinct
advantage because they could respond to changing conditions
almost overnight to incorporate new trends or marketing
strategies.
Internet businesses have been going through a period of
re-definition. Corporations and investment groups have been
forced to realize that it's impossible to sustain high "Burn
Rates" of capital; new businesses no longer have the luxury of
burning capital to be profitable sometime in the future.
More than 90% of the total income earned on-line is still
produced by less than 10% of all websites. This figure does not
include 100's of corporations spending millions offering
information and support without earning a profit. Having a lot of
money to spend doesn't even come close to assuring profitability.
Profitability Is Key
Today if you want to stay in business on-line, you MUST
operate a profitable business from DAY ONE.
The good news is that there are thousands of small and
home-based businesses all over the world earning outrageous
incomes. Some of these businesses are earning more in a month
than most 2-income families earn in a year. In fact, it IS still
realistic for the home-based business to earn a good income
on-line. Today it requires more planning and goal setting.
In the home-based business sector, two distinctly different
groups are emerging. They are the home hobby enthusiasts and full
time home-based businesses. It's still possible to migrate from
hobbyist to pro, but it's getting harder all the time.
Home Business Hobbyist
Well over 95% of all home businesses fit into this category.
It requires most folks at least a year of skill development to
progress through this stage. It took me longer because when I
started I had to figure almost everything on my own. I learned
through trial and error, mostly error. Now much more information
is available.
Today there are millions of people on the Internet, trying
to sell something. The problem is, everyone is trying to sell the
same things but few are buying.
The home business hobbyist's website is easy to recognize.
It usually consists of tons of slow loading banners and
animations touting all kinds of unrelated stuff for sale. Very
often, there is little or no content employed to attract targeted
traffic to the website. Without a clearly defined mission to
begin with, they are doomed to failure.
The hobbyist's position is simply immature marketing
strategy. Long term, the best way to control almost anything is
to learn how to do it yourself. In real estate, it's called
sweat-equity. We all learn from doing and especially from our own
mistakes.
During the early stages, it is not advisable to spend a ton
of money in advertising or paid promotion. Take this time to
learn skills and develop your market niche. After you are able to
communicate your concise mission statement, you are ready to
consider paying for outside promotional services.
If you are still at the hobbyist level, it can feel like you
are on a treadmill going nowhere. The solution is to find a
market you can reach, and then an in-demand product your market
wants. This is the key to success and nearly everyone overlooks
it. Develop and test your own winning marketing strategy, and
then work it.
There are many good marketing courses ranging from under $20
to over $200. Not every good marketing strategy will work well
for YOU so I advise anyone serious about making the transition to
consider purchasing several marketing courses, especially during
the first year.
It's no longer probable that you will grow a successful
Internet business without specific marketing skills. Invest your
time and money in education and skill development during that
first year.
The Full Time Internet Marketing Pro
An interesting thing happens once you start to earn money
on-line. You start earning increasingly more all the time.
Just as the Space Shuttle burns 90% of its fuel load in
getting off the ground, the average home-based business requires
most of the planning and work before it earns a dime. This can be
compared to the work that writers and actors do; they create a
product using material already in their minds, and get paid
according to its acceptance in the market place. If the money
comes at all it comes later, sometimes much later.
Most successful people still fail more than they succeed,
yet in the end success is for those who don't give up. Failure,
on the other hand is reserved only for quitters.
After you discover marketing strategy that works for your
business, everything seems to flow in your direction. It usually
takes only a short time to progress from earning a few hundred
dollars a month to earning thousands. This all happens AFTER you
discover and develop your unique marketing strategy.
Many successful Internet business owners earning a good
income on-line find they have two great businesses. The first
business is marketing the niche products and services identified
at the beginning, and the second is selling the information that
helped them get to where they are now.
Paid advertising and promotion is much less risky when you
are making money regularly. The reason is simple; it is harder to
lose money after you understand what works. Advertising strategy
is simple; it pays as long as you earn more in profit than it
costs.
When you are making money, you can justify taking more
chances and testing new promotional ideas. At this stage, you can
afford to spend more because advertising no longer costs - it
pays.
Making the Transition
The transition from hobbyist to marketing professional is
difficult. Most people don't have enough desire to put in the
effort required. Success on-line is not easier than a brick and
mortar business, but it can be a lot more profitable.
The good news is that on-line businesses may be successful
with a fraction of the money required to start and run a
conventional business. Moreover, you can start and grow your
business at your own pace.
The keys to your success go back to our beginning where you
defined your niche and your mission.
It's also possible to build your business MENTALLY, then
move that virtual business to the Internet and become an almost
instant success. But this can happen only if you have a great
concept, a well thought out and thoroughly tested marketing plan,
and you follow it.
A Basic Outline For Your Transition.
- Define your niche and create your mission statement
- Know exactly how you will reach your targeted market
- Research your proposed business, including your
competition
- Obtain and follow good marketing information
- Register your domain name
- Build your web website using professional services where
required
- Set up your follow-up messaging system
- Sell products and services repeatedly to the same
customers
- Revise your approach. Repeat the process
- Automate the process
- Restart the entire process with a new product or service.
If you are sufficiently disciplined, willing to develop the
skills required, hang in long enough, and have a little bit of
luck, it's still possible to develop a full-time living income
on-line in a year or less.
<-------------===> About the Author <===------------->
ROBERT SMITH helps thousands successfully market their Internet
based business. You'll find tons of free marketing tools &
resources on his Internet Marketing web site at:
>> http://www.smithfam.com/.
The WebKit CD - Complete Marketing Toolkit
>> http://www.smithfam.com/webkit/
You can reach him by phone at: 689-1847 PST
and by email at.
<-------<===(**)===>------->
===============================================
"Insider Secrets to Marketing Your Business on the Internet"!
VERSION 2004
FIND A MARKET that is easy to reach and then find a need in that
market that you can fill. This is the easiest way to success and
almost EVERYONE OVERLOOKS IT!
Corey Rudl - Internet Marketing Center
>> http://www.smithfam.com/marketingtips.html
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===============================================
++++++++++ FEATURE ARTICLES ++++++++++
How To Use A 'Hot Market' To Build Your Business
By Bob Leduc © All Rights Reserved
A hot market usually involves something new or previously
unknown. It offers a big benefit or solves a big problem for a
lot of people.
>> http://www.smithfam.com/news/oct00a.html
<==========*($)*==========>
Setting S-M-A-R-T Goals
By Michael E. Angier © All Rights Reserved
Studies have shown that less than three percent of people
actually write their goals down. And it's this SAME three percent
who accomplish more than all the others put together.
>> http://www.smithfam.com/news/april02o.html
<==========*($)*==========>
Luck Comes From Hard Work
By Eric Stephenson © All Rights Reserved
If you stop and think about it you will notice that all the
"lucky" people aren't really any luckier then the rest of us. The
difference is that those people work their proverbial butts off.
Work, work, work and more work. Almost to the point of obsession.
>> http://www.smithfam.com/news/jan00r.html
<==========*($)*==========>
A One-Minute Marketing Plan?
By Jim Daniels © All Rights Reserved
Web surfing is a fast-paced sport. Some surfers (including
myself) can hit 10-20 sites in a ten minute span. Yikes! That
leaves each site about a minute (and sometimes much less) to
reach three objectives EVERY business website should be after...
>> http://www.smithfam.com/news/aug01r.html
<==========*($)*==========>
How's That Working For You?
By Robert Smith © All Rights Reserved
I want to pose the same question to you. Is what you are
doing working? If not, are you willing to make some changes in
the way you are doing things. Are you willing to invest more even
if it takes longer?
>> http://www.smithfam.com/news/april01c.html
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<=== A Seed Gives Birth to Fruit of Its Own Kind ===>
Information Marketing Specialists
Smith Family Enterprises Inc., Bob Smith
2606 Summer Lane Eugene OR 97404
(541) 689-1847
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